KORNER REPORT / Canadian Stock Exchanges - 2
Stock Exchange Diaries for January 11, 1999
Vol. Previous Adv Adv Decl Decl Unch Issues (New)
00s day # Vol # Vol # Traded Hi Lo
00s 00s 00s
Toronto 1126817 1455248 523 628669 495 361628 265 1283 35 14
Montreal 186845 214081 180 66787 185 91903 90 455 14 3
Vancouver 264179 283658 201 116595 166 96475 176 543 18 7
Alberta 110995 104223 135 54403 115 28392 102 352 5 5
New York 8176645 9423442 1110 3166178 1960 4670985 509 3579 56 34
Amex 318691 321134 265 117333 332 170369 144 741 15 9
Nasdaq 11444075 12898684 2156 7766351 2032 3040007 826 5014 191 27
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Fourth Quarter Outlook Improves For S&P 500 As Index Shifts
NEW YORK, Jan 11 - Expectations for fourth-quarter S&P 500 earnings
growth rose to 3.5 percent this week vs the 2.7 percent expected
last week - but not because the earnings picture is any rosier.
Four companies in the index that expected to have lower earnings -
Pennzoil <PZL.N>, Venator <Z.N> BP Amoco <BPA.L> and SunAmerica Inc.
<AIG.N> - have been replaced with four that are expected to have
higher earnings - America Online <AOL.N>, Compuware <CPWR.O>, Solectron
Corp. <SLR.N> and Firstar Corp. <FSR.N> -- First Call director of
research Chuck Hill said on Monday.
"The bigger impact ones were AOL in and Amoco out," Hill said.
Meanwhile, earnings surprises are possible this week when technology
benchmark Intel Corp. <INTC.O> reports fourth-quarter results Tuesday
along with International Paper Co. <IP.N>, the first of the Dow 30
stocks, First Call said in a report prepared by Hill.
First Call said positive surprises are likely in the technology sector,
while papers and metals companies generally generate a number of
surprises in both directions.
Other upside surprises are possible when Yahoo! Inc. <YHOO.O>, Linear
Technology Corp. <LLTC.O> report on Tuesday and Advanced Micro Devices
<AMD.N>, Motorola <MOT.N> and Apple Computer <AAPL.O> on Wednesday.
"Estimates for semiconductor and software companies were rising during
the quarter and there were minimal downward revisions for computers
and communications equipment, so positive surprises in the technology
sector are likely," Hill Wrote.
Bad news is possible from the oil patch when driller Rowan Cos. <RDC.N>
report earnings on Thursday and Global Marine <GLM.N> on Friday.
"Estimates have been sharply reduced the past quarter for the oil
service group but negative surprises are still possible," Hill wrote.
Also among the Dow stocks, Eastman Kodak Co. <EK.N> reports on Thursday.
More than a quarter of the Dow 30 companies have now predicted a
fourth-quarter shortfall vs. profit expectations. First Call tallied
the total negative pre-announcements at 470, just below the previous
record of 526 warnings in the third quarter of 1998. That quarter was
also the first in which earnings at Standard & Poor's 500 companies
fell in seven years.
COMPANY NAME----------------SYM----QTR--EST-1/12
Advanced Micro Devices------AMD. N Q4 0.18 1/12
Intel Corp.-----------------NTC. O Q4 1.07 1/12
International Paper Co.-----IP. N Q4 0.11 1/12
Laidlaw Inc.----------------LDW. N Q1 0.27 1/12
Seagate Tech. Inc.----------SEG. N Q2 0.26 1/13
Apple Computer Inc.---------AAPL.O Q1 0.69 1/13
Huntington Bancshares-------HBAN.O Q4 0.42 1/13
Kaufman & Broad Home Co-----KBH. N Q4 0.87 1/13
Motorola Inc.---------------MOT. N Q4 0.23 1/13
Raychem Corp.---------------RYC. N Q2 0.40 1/13
Sysco Corp------------------SYY. N Q2 0.26 1/13
Washington Mutual-----------WM.. N Q4 0.75 1/14
Eastman Kodak Co------------EK.. N Q4 1.15 1/14
Fannie Mae------------------FNM. N Q4 0.83 1/14
First Union Corp.-----------FTU. N Q4 0.99 1/14
National City Corp.---------NCC. N Q4 1.04 1/14
Rowan Companies Inc.--------RDC. N Q4 0.11 1/14
SLM Holding Corp.-----------SLM. N Q4 0.68 1/14
Unisys Corp.----------------UIS. N Q4 0.40 1/14
Wachovia Corp.--------------WB.. N Q4 1.19 1/15
Abbott Laboratories---------ABT. N Q4 0.41 1/15
Fifth Third Bancorp---------FITB.O Q4 0.54 1/15
Johnson Controls Inc.-------JCI. N Q1 0.83 1/15
PPG Industries Inc.---------PPG. N Q4 0.93 1/15
Phelps Dodge Corp.----------PD.. N Q4 0.23 1/15
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Toronto Stock Exchange Monday, January 11
52W 52W Index & Sector % Net
high Low Groups High Low Close Change Chg
456.16 301.27 S&P/TSE 60 400.34 395.66 397.35 - 2.73 -0.7
427.10 289.62 Toronto 35 378.20 372.79 374.35 - 3.64 -1.0
477.64 323.63 TSE 100 421.71 417.77 419.09 - 2.28 -0.5
473.29 311.44 TSE 200 397.36 395.42 396.21 + 1.56 +0.4
7835.75 5325.79 TSE 300 6877.24 6828.00 6842.31 - 26.62 -0.4
4423.92 2412.49 Metals & Min. 3519.97 3469.96 3519.97 + 36.47 +1.0
7951.86 4228.88 Gold & Prec Min 6501.97 6320.01 6468.96 + 107.44 +1.7
6767.69 4352.47 Oil & Gas 5080.65 5039.05 5043.05 + 33.12 +0.7
5113.40 3151.15 Paper & Forest 3821.01 3777.97 3785.14 - 7.48 -0.2
12603.13 8894.03 Consumer Prod 12573.73 12391.59 12453.08 - 30.80 -0.2
5896.20 3394.98 Industrial Pro 5136.31 5080.95 5089.71 - 38.99 -0.8
2894.46 1901.76 Real Estate 2435.97 2417.51 2425.62 - 9.33 -0.4
9374.31 5170.07 Transp & Envir 6385.65 6291.54 6298.07 - 1.95 nil
7252.80 5739.03 Pipelines 6311.57 6260.23 6262.30 - 48.83 -0.8
8413.15 5531.01 Utilities 7827.92 7734.45 7761.18 - 83.95 -1.1
16370.58 11714.56 Comm & Media 16353.69 16063.83 16063.83 - 217.51 -1.3
6792.47 4537.72 Merchandising 5753.46 5692.42 5713.16 - 44.01 -0.8
10881.08 6158.98 Financial Serv 8900.04 8800.17 8873.27 - 66.44 -0.7
11030.92 7271.64 Conglomerates 9052.68 9004.70 9023.42 + 19.33 +0.2
Montreal Stock Exchange Monday, January 11
52W 52W Index & Sector % Net
high Low Groups High Low Close Change Chg
3971.66 2719.24 Market Port 3590.64 3553.76 3564.32 - 35.35 -1.0
8233.99 4657.46 Banking 6573.80 6482.39 6563.17 - 48.89 -0.7
2903.60 1786.75 Forest Prod 2193.82 2169.87 2176.71 - 4.56 -0.2
4335.17 2667.02 Indust Prod 3595.00 3565.77 3579.17 - 18.26 -0.5
2602.32 1448.10 Mining & Min 2055.76 2032.48 2053.60 + 28.88 +1.4
2701.71 1858.54 Oil & Gas 2187.23 2157.68 2166.27 + 13.00 +0.6
4543.14 3486.68 Utilities 4424.38 4388.17 4388.17 - 34.98 -0.8
Vancouver Stock Exchange Monday, January 11
52W 52W Index & Sector % Net
high Low Groups High Low Close Change Chg
649.00 375.28 Composite 421.19 415.86 421.03 + 5.68 +1.4
526.94 265.21 Mining 309.15 304.96 308.75 + 2.58 +0.8
Alberta Stock Exchange Monday, January 11
52W 52W Index & Sector % Net
high Low Groups High Low Close Change Chg
2356.30 1649.86 Combined Value 1826.16 1816.29 1821.18 + 3.53 +0.2
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