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To: E_K_S who wrote (8190)	8/29/1999 12:49:00 PM
From: E_K_S	Read Replies (1) of 15132

Higher and Higher: Corporate Profits Continue to Escalate 11.15 a.m. ET (1515 GMT) August 28, 1999 (http://www.foxmarketwire.com/082899/wallstreet.sml) Fom the article: "...As of Friday, 495 of the companies in the Standard & Poor's 500 index had reported their second-quarter earnings. Thanks to the continued strength of the U.S. economy and improvement in most Asian nations, profits are up 14.8 percent from the second quarter of 1998. According to First Call/Thomson Financial, 65 percent of those companies beat analysts' estimates. Over the past five years, an average of 56 percent of the companies beat estimates...." "...Mitchell J. Held, equity strategist at Salomon Smith Barney, said this past week he now expects the S&P 500 companies to earn $50.00 per share in 1999, up 12.8 percent from 1998. Held had already increased his view once this quarter, from an initial forecast of $47.75 per share to $48.85 per share...." =================================================================== The Standard & Poor's 500 index gained 11.66 for the week, to close at 1,348.27. If 1999 S&P earnings are now estimated to be $50.00 then our PE is now at 26.965. EKS

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