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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: Lost1 who wrote (32932)	5/11/2000 12:08:00 PM
From: Augustus Gloop	Read Replies (3) \| Respond to of 63513

Quick!!! Look ....Pisani's arm is moving

To: Lost1 who wrote (32932)	5/11/2000 12:58:00 PM
From: John Pitera	Respond to of 63513

No WMI is making money and the revenues are growing strongly. They had a merger and accounting write offs that took the stock down from 60 to 13. But they have cleaned up the books and brought in new managment, including the former CEO of YELL. He used very strong language to say that the books were clean. Interestingly WMI was one of 10 stocks picked by a group of money managers as a stock to own for this decade. It was in the Sunday Times back in Jan. ---------------- Waste Management appeals to market By Lisa Sanders, CBS.MarketWatch.com Last Update: 10:38 AM ET May 11, 2000 NewsWatch Latest headlines HOUSTON (CBS.MW) ? Waste Management added close to 20 percent to its value Thursday after the company earned more in the first quarter than the Street expected. Waste Management (WMI: news, msgs) added 2 15/16 to 17 15/16 on volume of 3.5 million. On a pro forma basis, Waste Management posted net income of $161.3 million, or 26 cents a share, versus $346.7 million, or 55 cents a share, in the first quarter of 1999. The First Call consensus of analysts was 24 cents a share for the most recent quarter. Revenue increased to $3.2 billion from $3.1 billion in the year-ago quarter. ?Revenue looked very good, and internal growth was up sharply from fourth-quarter levels,? said William Fisher, an analyst covering Waste Management for Raymond James. ?For a company that's undergoing the type of turnaround that they?re in, to show revenue growth like that right out of the box is impressive.? Fisher also noted as a positive Waste Management?s free cash generation. Cash and cash equivalents rose to $147.4 million from $59.4 million a year ago. The first quarter is not seasonally a strong quarter for cash, Fisher said. ?It?s a good start to what clearly is a transition year,? Fisher said. Waste Management chief Maurice Myers said the company has continued to execute and improve on its strategic plan since year-end results were reported in late March. The company has been improving its accounting and operations systems and plans to divest itself of certain international and non-core business assets. ?Several new executives have been hired or appointed, the effort to stabilize our systems and accounting processes has reflected continued progress, and the divestiture program has solidly advanced,? he said. Waste Management, which has a network of landfills, solid waste disposal and recycling services, said that the proceeds it has received from sales related to the strategic plan top $500 million and have been used to pay down debt.