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Downgrade sends CMGI south

CMGI shares fell $1.50, or 10 percent, to $14.13 Monday after Adams Harkness downgraded the Internet incubator from a "strong buy" rating to a "buy."

CMGI (Nasdaq: CMGI) shares have taken a beating in the past year, falling from a 52-week high of $163.50 in January to a low of $12.88 in October.

First Call Corp. consensus expects it to lose $1.45 a share in its first quarter.

Last quarter, it topped analysts' estimates when it posted a loss of $142.8 million, or 49 cents a share, on sales of $377.2 million.

Analysts are projecting a loss of $5.44 a share in fiscal 2001.

Thirteen of the 14 analysts tracking the stock rate it either a "buy" or "strong buy."