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To: Mark Fowler who wrote (112809)	12/15/2000 6:17:59 PM
From: H James Morris	Read Replies (2) \| Respond to of 164684

Mark, I hear you new economy boys are shorting.I never thought I'd see the day. This has got to be the first sign of another buying opportunity.LOL Btw A short tip for du jour? Short a slut! They have more skeletons in their closet than you or me.;-) >NEW YORK, Dec 15 (Reuters) - The first weeks of December have not been kind to major U.S. public corporations. Virtually every day has featured profit or sales warnings from marquee names from across the business landscape, amid growing evidence of a softening economy. This week has been no exception, kicking off with a warning from Lowe's Cos. Inc. (NYSE: LOW), the No. 2 U.S. home-improvement retailer, and climaxing with lowered outlooks from Microsoft Corp. (NASDAQ: MSFT), the world's largest software maker, and Black & Decker Corp. (NYSE: BDK), the top global producer of power tools and accessories. In between came weaker forecasts from top carmaker General Motors Corp. (NYSE: GM), No. 2 computer chip maker Advanced Micro Devices Inc. (NYSE: AMD), top personal computer maker Compaq Computer Corp. (NYSE: CPQ), aerospace and technology company Honeywell International Inc. (NYSE: HON), photography giant Eastman Kodak Co. (NYSE: EK), banking leaders Chase Manhattan Corp. (NYSE: CMB) and J.P. Morgan Co. & Co. Inc. (NYSE: JPM) and appliance manufacturers Whirlpool Corp. (NYSE: WHR) and Maytag Corp. (NYSE: MYG), to name but a few. The profit and sales warnings come amid signs of a weakening U.S. economy, prompting a slowdown in consumer and corporate spending. So far in the fourth quarter, 759 companies have preannounced their earnings expectations, according to research firm First Call/Thomson Financial, a tracker of corporate earnings data. Of those, nearly half, 362, have warned of results that would be lower than previously expected. Just 20 percent, or 155 companies, have said their earnings would exceed estimates, and 32 percent, or 242 firms, have said their results would be on target. The number of companies warning has risen 70 percent from this time a year ago, although the ratio of companies lowering guidance versus raising it is nearly the same, according to First Call. By this date in 1999, 456 companies had issued earnings preannouncements. Of those, 213 firms, or 47 percent, had issued warnings, while 83 companies, or 18 percent, had raised expectations and 160 companies, or 35 percent, had said they were on target. Following is a partially list of major companies that have warned recently of weaker results. Energy: Santa Fe International Corp.(NYSE: SDC) Financial Services: Bank of America Corp. (NYSE: BAC) Chase Manhattan Corp. (NYSE: CMB) Fidelity National Corp. (NASDAQ: LION) J.P. Morgan & Co. Inc. (NYSE: JPM) Food & Beverage: Coca-Cola Enterprises Inc. (NYSE: CCE) International Multifoods Corp. (NYSE: IMC) Heavy Industry & Manufacturing: ArvinMeritor Inc. (NYSE: ARM) Black & Decker Corp. (NYSE: BDK) Champion Enterprises Inc. (NYSE: CHB) Clorox Co. (NYSE: CLX) Delphi Automotive Systems Corp. (NYSE: DPH) Fleetwood Enterprises Inc. (NYSE: FLE) Ford Motor Co. (NYSE: F) General Motors Corp. (NYSE: GM) Hasbro Inc. (NYSE: HAS) Maytag Corp. (NYSE: MYG) Modine Manufacturing Co. (NASDAQ: MODI) PPG Industries Inc. (NYSE: PPG) Stanley Furniture Co. (NASDAQ: STLY) Visteon Corp. (NYSE: VC) Whirpool Corp. (NYSE: WHR) Worthington Industries Inc. (NYSE: WOR) Paper & Forestry Products: Temple-Inland Inc. (NYSE: TIN) Retail: Albertson's Inc. (NYSE: ABS) Circuit City Stores Inc. (NYSE: CC) Claire's Stores Inc. (NYSE: CLE) Haverty Furniture Cos. Inc. (NYSE: HVT) Lillian Vernon Corp. (AMEX: LVC) Lowe's Cos. Inc. (NYSE: LOW) Supervalu Inc. (NYSE: SVU) Technology, Media & Telecommunications: Advanced Micro Devices Inc. (NYSE: AMD) Altera Corp. (NASDAQ: ALTR) Apple Computer Inc. (NASDAQ: AAPL) Ask Jeeves Inc. (NASDAQ: ASKJ) Compaq Computer Corp. (NYSE: CPQ) Dell Computer Corp. (NASDAQ: DELL) DoubleClick Inc. (NASDAQ: DCLK) Eastman Kodak Co. (NYSE: EK) Gateway Inc. (NYSE: GTW) Intel Corp. (NASDAQ: INTC) LSI Logic Corp. (NYSE: LSI) Microsoft Corp. (NASDAQ: MSFT) Motorola Inc. (NYSE: MOT) Polaroid Corp. (NYSE: PRD) Razorfish Inc. (NASDAQ: RAZF) R.H Donnelley Corp. (NYSE: RHD) Three-Five Systems Inc. (NYSE: TFS) Unisys Corp. (NYSE: UIS) Xilinx Inc. (NASDAQ: XLNX) Textiles & Apparel: Lands' End Inc. (NYSE: LE) Transportation & Shipping: FedEx Corp. (NYSE: FDX) United Parcel Service Inc. (NYSE: UPS)