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Short Take: Checkfree shares tumble

Checkfree shares tumbled 13 percent after Lehman Brothers analysts cut their fiscal 1997 revenue estimate by 7.5 percent. Shares fell 2-5/8 to 17 on trading of 2.5 million shares. A Lehman analyst attributed the revised estimate to Checkfree's lower than expected subscriber growth and to a delay in the close of the company's purchase of Intuit's Intuit Services unit.

Checkfree shares tumbled 13 percent after Lehman Brothers analysts cut their fiscal 1997 revenue estimate by 7.5 percent. Shares fell 2-5/8 to 17 on trading of 2.5 million shares. A Lehman analyst attributed the revised estimate to Checkfree's lower than expected subscriber growth and to a delay in the close of the company's purchase of Intuit's Intuit Services unit.