E-Commerce Stock Watch: Hollywood Entertainment Meets Expectations

Hollywood Entertainment (Nasdaq: HLYW), the parent company of online movie store Reel.com, announced Thursday that it will meet Wall Street’s estimate of 29 cents a share for the first quarter of 1999. The company said that senior executives of the company wish to buy the stock on the open market, and the earnings announcement was made prior to granting the executives permission.

Wall Street liked what it heard, as shares of Hollywood Entertainment climbed 1-1/4 to 19-7/8 on Thursday.

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