Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (21300)	7/16/2002 10:00:37 AM
From: AC Flyer	Read Replies (3) of 74559

Contrarian report. GM closed yesterday 47.92 P/E (ttm) 26 2Q '02 earnings: $2.63 (excluding non-recurring expenses) run rate P/E ~5 Own a lot of GM. Buying more. >>DETROIT (AP) - General Motors Corp.'s profit more than doubled to $1.3 billion in the second quarter, citing improved sales, higher North American production and the benefits of cost-cutting efforts. The earnings reported Tuesday amounted to $2.43 a share in the April-June period compared with earnings of $477 million, or $1.03 a share, a year ago. Excluding special items (primarily a $156 million quarterly loss for its Hughes Electronics subsidiary, which is being sold), GM earned $1.5 billion, or $2.63 per share, for the quarter. A consensus of Wall Street analysts polled by Thomson Financial/First Call expected GM to earn $2.42 per share, excluding the special items.<<

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