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Strategies & Market Trends : JMills' Center of Trades and News

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To: Jeff Mills who wrote (7)1/19/1997 10:18:00 PM
From: Jeff Mills   of 57
 
Additional looks for this week.

1. MAG--MagneTek $14 3/8 x 7/8

Earnings were out last week--they came in at 22 cents a share, and thus got a buy rating from CS First Boston. 26 Million shares outstanding, Market Cap near $350 Million. For the quarter they did $293 Million in sales....
Chart Friday shows volume breakout--nearly 718k, avg daily volume is 119k.

Volume picked up late last week:
01/10/97............. 14,800
01/13/97............. 25,800
01/14/97............. 29,900
01/15/97............. 19,200
01/16/97............. 420,500
01/17/97............. 718,400

<<NEW YORK (Dow Jones)--Credit Suisse First Boston initiated coverage of First
Data Corp. (FDC) with a buy rating, a source at the firm said.
The firm also upgraded its ratings on Honeywell Inc. (HON) and MagneTek Inc.
(MAG) to buy from hold.
Dow Jones News Service ~ January 17, 1997 ~ 9:41 am EST >>

They have surprised the Street two straight qtrs
22 cents vs. 19 cents EST
and
17 cents vs. 10 cents EST

I will be a buyer on $15 break

Mills.
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