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Non-Tech : OAKLEY- NYSE:OO

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To: Sam who wrote (385)	4/19/1997 12:59:00 PM
From: dave luken	of 1383

* Gruntal & Co lowered its FY97 earnings per share estimate on OAKLEY after the company reported below-consensus 1Q earnings of $0.01 per share. Gruntal cut its FY97 estimate to $0.48 from $0.60. It also dropped its FY98 estimate to $0.62 from $0.72. It also repeated a neutral rating on the stock. (Reuters) It seems a little strange to me that oo would come out with lower than expected earnings. Gruntal would downgrade the stock and for all of that the stock was down .25 for the two days combined. This is very bullish for the stock as far as I can tell. I think we are a hell of a lot closer to the bottom than we will be in 6 months. My guess would be 15-17 by the end of summer.

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