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Strategies & Market Trends : RENEGADE TRADER'S INVESTMENT FORUM -- Ignore unavailable to you. Want to Upgrade?

To: Wowzer who wrote (1211)	10/19/1999 5:46:00 PM
From: kendall harmon	Respond to of 1764

JCI--good article here, looking for a bounce tomorrow. from Dow Jones DETROIT -- Shares of Johnson Controls Inc. (JCI) were down 8.2% Tuesday following word that sales are expected to slow down in 2000. But analysts said the Milwaukee auto parts supplier has been saying that for weeks and that the market is overreacting to a trend that's expected to impact the entire automotive industry next year. "There's no fundamental reason for it to be down," said David Bradley, auto analyst with J.P. Morgan & Co. in New York. "They were in New York a few weeks ago and told analysts that they expect sales to drop off in 2000, but they don't expect a corresponding drop in earnings." Bradley also noted that Johnson Controls is a thinly traded stock and selloffs by a few investors can move the stock. "It's just a trading phenomenon," Bradley said of Tuesday's stock activity. "Quite frankly, it's a great opportunity to buy the stock." "We've issued no news today that would account for a significant drop in the stock price," Glen L. Ponczak, a Johnson Controls spokesman told Dow Jones Newswires. Johnson Controls' NYSE-listed shares recently were down 5 7/16 to 61 3/16 on volume of 481,200, compared with average daily volume of 170,200.