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Strategies & Market Trends : Kendall's DUMPER STOCKS

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To: kendall harmon who started this subject	6/20/2001 8:29:13 PM
From: kendall harmon	of 70

SGR, dow jones excerpts "We have heard these rumors, but they are all secondhand," said Shaw spokeswoman Christine R. Noel. "There's no truth at all." She declined to provide details of the rumors, which have been posted on Internet chat boards for the past few months. "I think the rumors are being revived (Wednesday) because people are repeating them," said Merrill Lynch Global Securities analyst Fritz von Carp. "I strongly disagree with them." One online rumor concerns accounting practices related to Shaw Group's Stone & Webster unit - a Boston engineering and construction company acquired in June 2000 - and whether these methods conform with generally accepted accounting principles. The speculation provided another blow to a company that has been battered this week partly because of a Federal Energy Regulatory Commission ruling that imposed soft price caps in the Western power market. Analysts fear that the price caps may prompt customers to reevaluate their power-plant needs.... Greg Haas, an analyst with Raymond James & Associates, expects the company's third-quarter backlog to come in at $3.28 billion - 72% of this tied to energy-related operations - and sees gross margins of 16%, up from 15.7% the previous quarter. Some analysts believe investors may be overreacting to the unsubstantiated rumors of accounting irregularities. Shaw Group's third-quarter results due July 10 may provide some comfort for the skeptical, said analysts. "It's going to reinforce or corroborate my view that the fundamentals of this business are fine," said Merrill Lynch's Fritz von Carp, who holds a buy rating on the stock.

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