Eaton (ETN) is definitely not overvalued! Message Board

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Technology Stocks : Eaton (ETN) is definitely not overvalued!

ETN 369.20

-2.2%

9:34 AM EST

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To: go4it who wrote (183)	7/19/1999 12:14:00 PM
From: Walter Morton	Read Replies (1) of 338

I'm getting out at $125! Hardis noted that Cutler- Hammer's North American orders in the second quarter were 14 percent ahead of one year ago. He attributed above- industry growth to strong residential and commercial construction markets, new multi-product ''solutions'' packaging, and the success of the new Engineering Service business unit. Second quarter Semiconductor Equipment sales were $98 million, 6 percent above last year and well above the 10 percent decline in industry shipments. Operating profits were $10 million compared to an operating loss of $8 million. Said Hardis, ''Our results reflect the early hard-earned benefits of our operational restructuring more than a resurgent market. But the equipment market is rebounding, with the second quarter book-to-bill ratio above 1.20. Our second quarter orders were 47 percent ahead of last year, and are at the highest level since late 1997. Customer reception to Eaton's new generation of semiconductor equipment validates our uninterrupted R&D spending over the past two difficult years, and should be reflected in sustained higher sales in the year ahead.'' biz.yahoo.com

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