Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Mengistu ejigu who wrote (5250)	3/19/1998 9:05:00 AM
From: Roger A. Babb	of 18691

EJ, we can expect NKE to go up today. This crazy bull market seems to take bad news as good. - Nike Inc. (NKE - news) said Wednesday after the market close that its earnings fell 69 percent in the latest quarter due to economic woes in the Asia-Pacific region and an oversupply of product in the U.S., its biggest market. It said it planned to eliminate 1,600 jobs, or 7 percent of its worldwide work force, and take a restructuring charge of $125 million to $175 million because of what it called a ''difficult short-term market in the U.S. and Asia Pacific.'' Nike closed Wednesday at 45-15/16.

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