DOW->60,000, Dell->"Quite Pleased", Compaq (Lawsuits)-> 31 and counting..>
Pat,
Check these stories out,nice memorial day reading if you ask me.
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Dow Could Hit 60,000 by 2016, Says David Elias on 'Rukeyser'
Owings Mills, Maryland, May 28 (Bloomberg) -- The Dow Jones Industrial Average could go to 60,000 by the year 2016, Elias Asset Management's David Elias said on Public Broadcasting Corp.'s ''Wall Street Week With Louis Rukeyser.''
The head of a company managing $650 million said the Dow could hit 50,000 or 60,000 if the most-watched stock gauge continues to grow at historic rates. He said the Dow has had a compound annual rate of return of about 11 percent over 75 years. ''If the government does a few things right, and things continue the way they are, we see probably 60,000 or higher in the market,'' Elias said.
Elias and panelists on the show generally agreed the stock market's recent decline is temporary and presents a chance to invest in highly valued companies at lower prices. ''I think we're getting a second chance to buy some fabulous companies here in the 1990s,'' said Elias. His firm generally invests in blue-chip companies and has shares of Citigroup Inc., American International Group, General Electric Co., Lucent Technologies Inc., Intel Corp., EMC Corp. and Dell Computer Corp.
Bernadette Murphy, chief market analyst at Kimelman & Baird LLC, recommended Texas Instruments Inc. and Computer Associates International Inc. ''I think the market is going to be going higher,'' Murphy said. ''The correction is fairly near to being over.''
Michael Holland, Holland & Co. president, recommended International Business Machines Corp., Hewlett-Packard Co. and Intel. John Kim, Aeltus Investment Management chief investment officer, said utility stocks are good investments now for people who are skittish and don't want to be in cash. He also recommended the energy and oil sectors.
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This is a repost
Dell Computer Is 'Quite Pleased' With 2Q Sales, Executive Says
Hong Kong, May 31 (Bloomberg) -- Dell Computer Corp., the world's biggest direct-seller of personal computers, is ''quite pleased'' with its sales so far in its second quarter ending July 31, said a top executive in an interview.
The company recently reported its second straight quarter of slowing sales growth. Sales for the fiscal first quarter ended April 30 rose 41 percent, less than the year-ago quarter's increase of 51 percent and slower than the average 54 percent growth Dell had in the previous eight quarters.
So far in the second quarter, ''we are all quite pleased,'' said Chief Financial Officer Thomas Meredith. He declined to provide specific figures.
Dell expects to increase sales in Asia, particularly China, the fastest-growing computer market in the region, he said.
In August, the company opened PC production facilities in the southeastern Chinese city of Xiamen. Dell now ranks 10th in China by market share.
Sales from Dell's China operation more than doubled quarter- on-quarter in the three months to March, after more than tripling in the last quarter of 1998. ''Our Chinese operation is actually the fastest-growing affiliate in the company's history,'' Meredith said. ''We are increasing our investment in China, and I would expect that to continue for the foreseeable future.''
Sales in China, Japan and the rest of the Asia-Pacific region, which accounted for 7 percent of the company's sales in the quarter to April, will rise to at least one-third of the total ''over the course of the next several years,'' he said.
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Compaq Shareholders File Dozens of Lawsuits Citing Selective Disclosure
quote.bloomberg.com |
