BRCM-related news: "Slowing Economy Good for Growth Stocks, Fund Manager Tells NYT"
cnetinvestor.com
>>> Slowing Economy Good for Growth Stocks, Fund Manager Tells NYT
9/3/00 10:32:00 AM
Source: Bloomberg News
New York, Sept. 3 (Bloomberg) -- Rising interest rates and slowing economic growth could be favorable for investors who buy mid-cap growth stocks, Bruce Bartlett, senior vice president and manager of the Oppenheimer MidCap fund, told the New York Times 'Market Insight' interview column.
Companies that can post increasing earnings and revenue are in demand in times of slow economic growth, Bartlett said. He added that many mid-cap companies -- those with market values of between $2 billion and $12 billion -- are telling him they're optimistic about their earnings, even though the Federal Reserve has been raising interest rates.
The companies in Bartlett's $2.3 billion fund, which has almost 70 percent of its money in technology stocks, are posting average revenue growth of 80 percent and composite earnings growth of 35 percent, Bartlett said. Earnings growth of companies in the Standard & Poor's 500 Index is about 10 percent, he said.
Bartlett favors optical component or networking companies and owns JDS Uniphase Corp., Juniper Networks Inc., Broadcom Corp., Veritas Software Corp., Ciena Corp. and Corvis Corp.
Bartlett also likes Internet companies such as Exodus Communications Inc. The fun also owns retailers Tiffany & Co. and RadioShack Corp. (New York Times 9/3, 3-8) (For the New York Times Web site, type {NYTI }) <<< |
