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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (14737)7/3/2002 12:12:52 PM
From: Grommit   of 78669
 
FLM - I changed my mind. This earning guidance cut doesn't sound bad, but the comments sound enronian. That could sink the stock more than anything. I also checked yahoo messages and a few employees have some very negative things to say. I decided to take my money out of this one until the accounting dust settles.

9:23AM Fleming downgraded at JP Morgan (FLM) 18.11 previous close:

JP Morgan downgrades to MKT PERFORM from Long-Term Buy due to earnings concerns regarding acquisition integration, earnings quality, the ability to attain earnings targets without taking one-time charges, and questions as to whether growth expectations are realistic without more acquisitions; cuts 2002 est to $2.00 from $2.20, below mgmt guidance of $2.20-$2.30.

...

Sold a small amount of NWPX. Bought GL.

My new motto is the rolling stones song title -- "gimme shelter".
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