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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (29434)	10/22/1999 3:52:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Gillette warning mars hopes of recovery By Andrew Edgecliffe-Johnson in New York Hopes of a recovery in US consumer products stocks were marred last night by another profit warning from Gillette, the razors and batteries group. Although Coca-Cola, McDonalds and Colgate-Palmolive gave cautious indications yesterday that consumer confidence was returning to emerging markets, Gillette said: "The economies in Latin America, Russia and eastern Europe are not recovering as quickly as we expected." The group also warned that it would have to forego two to three weeks worth of razor blade sales in the fourth quarter in order to cut inventories. The move is a response to consolidation and tighter inventory controls among its retail customers. It will result in a decline in fourth- quarter sales "in the mid-single digits" and will cut earnings "in the middle to high teens", according to Michael Hawley, chairman and chief executive. Mr Hawley said the actions should position Gillette for double-digit earnings growth again next year. He also hinted the group may put up for sale its stationery division, which makes Parker and Waterman pens, and its small household appliances business. Doug Ivester, chairman of Coca-Cola, said conditions in many emerging markets "have stabilised and show signs of improvement", and that he was "optimistic about the long-term outlook for the global economy". Mike Connolly, McDonald's chief financial officer, echoed Mr Ivester, saying: "It is business as usual with a couple of exceptions. We have been cautious on Indonesia and Russia, where there are fundamental economic and political problems, but everywhere else we're bullish." Reuben Mark, Colgate-Palmolive chief executive, said the growth in volumes seen at his company had been "well balanced between developed and developing countries". In Latin America, which accounts for more than a quarter of Colgate's sales, volumes rose 5 per cent and profitability improved "in most of its key countries", the group said. Its Asian and African division saw a 9 per cent rebound in volumes, as growth in China and south-east Asia produced a 7 per cent sales increase. For many consumer companies, adverse currency translation has meant rebounding sales growth has not been matched by profit improvements. Coca-Cola's operating income fell 11 per cent in the third quarter - 6 per cent of which it blamed on exchange rates. At McDonald's, the 19 per cent increase in Latin American sales at constant currencies translated to a 3 per cent reported sales decline because of Brazil's currency devaluation.

To: IQBAL LATIF who wrote (29434)	10/22/1999 8:47:00 AM
From: Dnorman	Respond to of 50167

Ike: Thanks for your response on supports. Is their any site you can recommend to get real good longer term charts. Thanks Dennis

To: IQBAL LATIF who wrote (29434)	10/22/1999 9:10:00 AM
From: Jerry Olson	Read Replies (1) \| Respond to of 50167

Morning IKe... SOX index..if it prints 510, this would be a 3 box reversal up...don't know how high it will go tho...it did break the Bullish Support line recently at 490 and went one more box lower at 480... this was the FIRST sell signal for almost a year..this index has not looked back... in P&F jargon..we are supposed to ignore the first sell signal in an uptrend... i think i'm gonna do that<G>...the semis are the best sector to be invested in...lots of great numbers coming out, lots of upgrades too... the semis will lead the next great move up in these markets...i forsee, Q1 thru the entire Y2000, as the best forward looking cycle in quite some time... don't forget the twins..KLIC/KLAC...hahahahahahaha OJ