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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 232.49+0.2%Dec 30 3:59 PM EST
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To: Skeeter Bug who wrote (129292)7/29/2001 11:19:28 AM
From: Glenn D. Rudolph  Read Replies (1) of 164684
 
I know I appear if not am hung up on Amazon but I dislike lies so much. Fre The New York Times Today:

"Consumer spending remains the strongest part of the economy, and so retailers like Home Depot (news/quote) and Wal- Mart are anticipating solid gains in profit. Home Depot, based in Atlanta, expects to add 50,000 employees and open 204 new stores by the end of the year.

"We are not taking our foot off the growth accelerator even though the economy is weak," said its chief financial officer, Carol B. Tome.

The balance of the article also deals with lower corporate profits and the magnitude is under stated:

"But a turnaround in corporate profit now may be two quarters away. Wall Street analysts are reducing their earnings estimates for the second half of the year, said Charles L. Hill, research director for First Call. He expects profits at the large companies that make up the Standard & Poor's 500-stock index to fall more than 10 percent for the year.

And even that estimate may understate the extent of the business slump, because it excludes tens of billions of dollars in what companies define as one-time losses. These special charges have been taken by struggling companies like Lucent Technologies (news/quote) and, last week, JDS Uniphase (news/quote) to cover the costs of layoffs and to account for the plummeting value of their pricey acquisitions."

Here is the link for the rest:

nytimes.com
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