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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 680.44

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Dec 19 4:00 PM EST

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To: Johnny Canuck who wrote (40761)	3/1/2004 11:43:03 AM
From: Johnny Canuck	Read Replies (1) of 69126

8:15AM Maytag affirms Q1, 2004 profit forecasts (MYG) by Mike Maynard WASHINGTON (CBS.MW) -- Maytag (MYG) reiterated its earnings estimates for the first quarter and for all of 2004 during a presentation at a conference for institutional investors put on by Raymond James. The appliance manufacturer sees earnings of 50 cents to 55 cents for the quarter and $2.30 to $2.40 per share for the year, excluding charges relating to closing its Galesburg, Ill., plant amounting to 8 cents and 40 cents, respectively. According to estimates compiled by Reuters Research, analysts are expecting Maytag to earn 52 cents for the quarter and $2.32 per share for the year. The company also expects to outpace industry growth in both major appliances and floor-care products during 2004, said CEO Ralph Hake. In addition, Maytag noted that surcharges and proposed price increases for steel are a "recent development of concern" but that it's taking further steps to rein in costs. Maytag's shares ended Friday at $28.23, off 7 cents.

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