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Terra Lycos downgraded

    Terra Lycos (Nasdaq: TRLY) reversed Monday's gains after an analyst called it a "sell."

    Shares were down 0.06 to 15.56. The stock stumbled earlier this month after announced a deal with (Nasdaq: HHNT).

    Wit Soundview downgraded the Internet firm to "sell" from "hold" Monday.

    "We believe that difficult market conditions will prevent (the company) from meeting company guidance of $900 million in revenues in 2001," analyst L. Haas said in a research note.

    Haas noted company guidance has not been revised since May, despite deteriorating industry fundamentals. He added that the company has a "premium valuation" and "uncertain management structure," which contributed to his downgrade.

    Haas expects revenues of $794 million in 2001, and does not expect the company will reach profitability until the first half of 2002. The company is estimated to burn almost $100 million a quarter over the next year.
    Terra Lycos slips on Headhunter deal