Colonial's Stoeckle Recommends Tech Companies on 'Rukeyser'
Owings Mills, Maryland, Feb. 26 (Bloomberg) -- Technology and financial companies were
among those recommended by Colonial U.S. Growth and Income Fund manager Mark
Stoeckle on Public Broadcasting System's ''Wall Street Week With Louis Rukeyser.'' ''The
outlook for those companies still continues to be very good,'' Stoeckle said, referring in
particular to Texas Instruments Inc. and Applied Materials Inc. Shares of both companies
fell this week on concern
over slowing personal- computer sales.
Applied Materials, the No. 1 chip-equipment maker, fell 12 5/8, or 18 percent, to 55 5/8 over
the past two days as investors felt that slowing sales would mean less demand for
computer chips. Texas Instruments fell 15 3/4, or 15 percent, to 89 3/16 from a 52-week
high of 104 15/16 reached on Feb. 24.
Stoeckle, who invests in large companies, said those companies continue to be good
investments because many have reduced costs and focused on their areas of strength. He
said he hasn't invested in Dell Computer Corp. because the expectations for its stock
performance are too high. |
