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To: Think4Yourself who wrote (61569)	3/6/2000 4:13:00 PM
From: Wowzer	Respond to of 95453

For all you MRO fans: Monday March 6, 3:39 pm Eastern Time RESEARCH ALERT - Hess, Marathon estimates raised NEW YORK, March 6 (Reuters) - PaineWebber said Monday analyst Frank Knuettel has raised his estimates of buy rated Amerada Hess Corp (NYSE:AHC - news) and USX-Marathon (NYSE:MRO - news) 2000 earnings the reflect an improved first quarter refining and marketing outlook. His Hess estimate was raised to $5.60 per share for this year from $5.40 reflecting a 20 cents per share rise in his first quarter estimate. His Marathon estimate was raised to $2.40 from $2.25 for the year and his first quarter estimate to 70 cents a share from 55 cents to reflect even stronger-than-expected oil prices and improving refining margins. In addition, Knuettel pointed out that Marathon has hired Clarence Cazalot, one of the bright younger Texaco executives to fill the position of president vacant for five months. He pointed out most of Cazalot's career has been in E&P which is the area of Marathon's operations which need enhancing. ``We think this addition, and his meetings with the investment community in late March, will solidify the stock and cause the share price to start rising although the company needs some exploration success as well,' the note concluded. Knuettel pointed out Hess' plans to spend $300 million through 2001 on stock repurches and noted the company will have ``at least $400 million of discretionary cash flow this year.' While the repurchases would enhance earnings by about 15 cents when completed, ``that is not the reason we are raising our 2000 earnings estimate.' In late trading Monday, Marathon's stock was down 3/8 at 22-13/16 on composite trading of 735,900 shares and Hess was up 1/8 at 53-15/16 on composite trading of 377,700 shares. More Quotes and News: Amerada Hess Corp (NYSE:AHC - news) USX-Marathon Group (NYSE:MRO - news) Related News Categories: US Market News

To: Think4Yourself who wrote (61569)	3/6/2000 4:55:00 PM
From: JungleInvestor	Read Replies (2) \| Respond to of 95453

<<One day closer to record earnings.>> John, and one day closer to popping the "bubble." Following article demonstrates the bind Greenspan is in. Money supply and stock market (at least the NASDAQ) continue to skyrocket, oil keeps going higher ------- when will the bubble be popped?? To: Enigma who wrote (50070) From: Alex Monday, Mar 6, 2000 8:02 AM ET Reply # of 50090 WALL STREET HAS PUT THE FED IN A BIND By JOHN CRUDELE -------------------------------------------------------------------------------- WALL Street is in a pickle. The Labor Department announced Friday that only 43,000 new jobs were created in February. Wall Street cheered by driving stock prices up sharply in the hopes that this lower-than-expected growth would stall the next interest-rate hike. But there's a problem with that simple-minded response. And that's where the pickle comes in. The Fed has already said it's worried about the stock market going higher. In fact, the "asset inflation" being created by the market bubble is at least as worrisome to the Fed as any job survey, inflation report and other economic number Washington can concoct. The Central Bank, in short, wants investors to calm down. To chill. To stop pumping the bubble. And that's exactly what investors don't want to do. By celebrating and sending stock prices up on Friday, Wall Street guaranteed that there will be another rate hike later this month, even if job growth did slow. And if investors keep behaving as they have been, there will be another rate increase after that, and then another, and then (you get the idea). In fact, the only thing that would have prevented a rate hike would have been an impressive decline in stock prices. Even a flat stock market would have forced the Fed to tighten interest rates, because bubble money is already pouring out of the market and into the real economy. So here's the dilemma, in a nutshell. Whenever Wall Street reacts to what it considers a "good" development, it automatically becomes bad news in the eyes of the Fed governors. As far as the Central Bank is concerned, you might say Wall Street is now officially the enemy. How did Wall Street get into that position? There's an old saying on Wall Street that you "don't fight the Fed." Meaning: If the Federal Reserve is raising interest rates, respect the move and calm the markets down. Wall Street has not only been fighting the Fed for years, but it is making Alan Greenspan look foolish. Worse, the investment community's actions have left the U.S. Central Bankers with little real authority over the economy and the markets. When the Fed chairman started to raise interest rates last year, it looked like the boldest response to the stock-market bubble he'd made in years. Prior to that, Greenspan tried to jawbone the market lower -- talking about things like "irrational exuberance" -- so Wall Street would cool it. Talking didn't work. The bubble grew at least as fast as the Federal Reserve's influence deteriorated. Today, the Fed has virtually no control over how the financial markets behave. Wall Street thumbing its nose at the Fed was bad enough. Then the Treasury Department gave Greenspan another "up yours" when it hinted recently that it might curtail the sale of 30-year bonds. That announcement came almost simultaneously with the Fed's last rate hike and effectively negated what Greenspan had done. So now Greenspan has to take the offensive. But there are signs he's too scared to implement any real action. Even as he's been raising interest rates, the Fed has also been expanding the money supply. That's like someone cutting back on cake to shrink his waistline, but suddenly getting a craving for donuts. Raising interest rates yet letting the nation's money supply increase 12 percent in 13 weeks shows Greenspan is losing confidence in his ability to let the financial markets and the economy down slowly. Even with Friday's 202-point rise in the Dow and the index's 500 point improvement for all of last week, the blue-chip gauge is still down a hefty 10 percent in the first two months of this year. But that kind of pullback just won't be enough to slow the economy or satisfy the Federal Reserve. And Wall Street's crazed response to even small amounts of "good" news is going to continue to make the boys at the Fed very nervous and quick to shoot another rate hike into the economy. nypostonline.com

To: Think4Yourself who wrote (61569)	3/6/2000 5:02:00 PM
From: JungleInvestor	Read Replies (1) \| Respond to of 95453

Clever post on chain reaction of oil prices - new phrase coined (maybe it will catch on). To: Alex who wrote (50074) From: Richard Mazzarella Monday, Mar 6, 2000 8:33 AM ET Reply # of 50091 Alex, I think the government is shutting down the stock market by letting oil prices rise. I don't remember which presidential candidate said, I think Gore, they were letting oil rise to allow Russia to produce income. Raising oil prices raises production and distribution costs, which should raise prices and slow demand. The rise in prices can then be used as argument to raise interest rates, they double barrel shotgun the economy and stock market. The market will then return to normal valuations if they pull it off, Russia remains democratic, the air becomes cleaner, new auto technology is supported, and Johnny can think more about morality than materialism. Maybe that's not so bad after all? <VBG> Maybe we can coin a new market term: "oiling the economy"? LOL