July 3, 2000: CNC: Web reports: " CAtch a falling Angel "
netcognizance.com
Author Mike Carrozzo
Report Source Greg Miles
(Added 7/3/2000 12:54:12 PM) Categories: Stocks To Watch
Trying to catch a falling angel- CNC, CD, WPI, IBM, AAPL, TYC
Many investors are looking for stocks that are recovering from losses in excess of 40-50% to catch a fallen angel while it is down.
Some of these can be good investments like IBM, AAPL, and TYC, which all have recovered nicely since their lows.
IBM is up 985% since its lows in 1993, AAPL up 730% since 97 lows, and TYC up 68% since 1999 lows.
However, many do not recover as quickly and could be very high-risk stocks.
CNC fell sharp from their high 50 levels after some deals and many investors got in hoping to see a big rebound. CNC ended up falling to $6-7 instead.
Timothy Ghriskey of Dreyfus believes that there are a few gems out there and CNC is one of them.
He sees CNC up to about $15 in 1-year
In 2-3 years he sees CD doubling to about $28 and WPI tripling to $100.
Many fund managers say that the worst "fallen angels" to go after are the ones who have made many mergers and acquisitions because that really hides their problems and fools the investor that the company is making a quick recovery.
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cnnfn.com
Hot stocks: Conseco gains
July 3, 2000: 2:51 p.m. ET
NEW YORK (CNNfn) - Before trading closed at 1:00 p.m. Monday, shares in life-insurance company Conseco, which for months had needed a lifeline of its own, continued to gain value following the company's announcement last week naming Gary Wendt its new chairman and chief executive officer.
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www2.marketwatch.com
Market Pulse
Last Update: 12:09 PM ET Jul 3, 2000:
Monday, July 03, 2000
Conseco tops NYSE volume
--12:09 pm - By Michael Baron
Conseco (CNC: news, msgs) is showing signs of life. The Carmel, Ind., financial services firm is adding 1 1/16, or 10.9 percent, to 10 13/16 on volume of 9.12 million shares, tops on the Big Board. The embattled Conseco, which hit a 52-week low of 4 5/8 on May 16, has been on a roll since reports surfaced last week that it would name Gary Wendt its new chief executive officer. The appointment of Wendt, the former head of GE Capital, was formally announced on Thursday. This is the stock's fifth straight positive session.
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