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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (119351)	12/18/2000 11:40:44 AM
From: ColtonGang	Read Replies (1) \| Respond to of 120523

AG needs to lower 50 basis points tomorrow or else we're recession-bound....look at this..... Daimler 2000 operating profit to fall Letter to shareholders says 2001 will be 'more difficult' By Andrew Bulkeley, FTMarketWatch Last Update: 10:02 AM ET Dec 18, 2000 Newswatch Latest Headlines Get Alerted STUTTGART, Germany (FTMW) -- DaimlerChrysler (710000: news, msgs) (DCX: news, msgs) , the world's fifth-largest carmaker, expects full-year operating profit excluding one-time items to halve compared with 1999 as slowing U.S. sales hurt profit at its Chrysler division. In a surprise letter to shareholders on Monday, DaimlerChrysler said losses at Chrysler would pull 2000 operating profit, excluding one-time items, to between €5 billion and €5.5 billion, down from €10.3 billion a year earlier. "Despite losses in the third and fourth quarters, preliminary figures show Chrysler will post operating profit of €500 million in 2000," chief executive Juergen Schrempp said in the letter. The figure means Chrysler will lose more than €1 billion in the final quarter. Over-production has kept prices low and incentives high in the U.S. market, hammering margins. Daimler warned in the letter that 2001 will be "even more difficult" and pledged to release a plan to get the carmaker back on track in February.