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Technology Stocks : Thiokol now Cordant Techologies (CDD) -- Ignore unavailable to you. Want to Upgrade?

To: Greg Jung who wrote (116)	7/31/1999 12:39:00 PM
From: Carmine Cammarosano	Read Replies (1) \| Respond to of 127

SALT LAKE CITY, July 27 /PRNewswire/ -- Cordant Technologies Inc. (NYSE: CDD) reported net income of $38.5 million or $1.03 per share for the quarter ended June 30, 1999, compared to $41.1 million, or $1.09 per share, last year. The current quarter's net income included a $3.1 million or $.08 per share charge in the fastener segment for closure and relocation of an aerospace fastener facility. The current quarter also included the reversal of the Howmet Stock Appreciation Rights (SAR) benefit in the first quarter of $1.3 million or $.03 per share. This reversal resulted from Howmet's stock price being above $15 per share on June 30, 1999. Net income for the prior year's quarter included a $2.6 million or $.07 per share tax refund. Excluding these items, earnings per share of $1.14 increased 12 percent over the prior year's quarter. Sales for the quarter were $641.9 million, a two percent increase over second quarter sales a year ago.

To: Greg Jung who wrote (116)	7/31/1999 1:05:00 PM
From: Carmine Cammarosano	Respond to of 127

Our Top Mid/Large Cap Pick in Commercial Aircraft We continue to rate Cordant Technologies a Strong Buy. We still consider the stock our top pick in the commercial aircraft sector (the stock is up 18% in 1999, versus 11% for the S&P 500 and about 7% equal-weighted for our aerospace/ defense coverage universe). The quarter's results demonstrated that the company still benefits from its diverse exposure to the space, aerospace and industrial markets; and that management can continue to deliver solid earnings performance. Most importantly for the stock, the valuation discrepancy still exists between Cordant and Howmet. The 85% stake Cordant owns in Howmet is worth $43 a share, and Cordant stock is trading at $44!