EATON'S IPO (JUNE 2ND) Message Board

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Gold/Mining/Energy : EATON'S IPO (JUNE 2ND)

ETN 381.83

-0.3%

2:46 PM EDT

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To: n.p. who wrote (17)	3/1/1999 3:51:00 PM
From: Serge Collins	Read Replies (1) of 68

This might be a good time to take a part position in ETN. The market is valuing the company at less than $75 million and there are lots of assets there. Eaton's can't be compared to Dylex because its balance sheet is strong, in fact it's the best balance sheet of any of the big retailers. Dylex was over-leveraged when it went under. If this was a good potential takeover target at $7, it's a steal at under $3. What has changed in three weeks? Not much, just the warning about earnings which was not a big surprise. This sell-off has been precipitated by small investors panicking at the sight of a declining stock. The volumes have been small and most trades are for less than 2,000 shares. Last week alone, the stock lost 20% of its value despite trading less than one million shares.

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