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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (7512)	8/29/2001 9:38:20 AM
From: TobagoJack	Respond to of 74559

Gee Jay, your HK leading indicator ... <<These folks report a 30% decline in orders, and more alarmingly, that the US buyers (large outfits, like Gap, etc) are, instead of payment by Letters of Credit, demanding and getting goods on consignment, shifting their own intolerable debt crunch on to the manufacturers, who in turn are cutting output and volume to shrink their own respective balance sheet and output>> ... is looking fairly accurate ... Chugs, Jay cbs.marketwatch.com QUOTE Gap downgraded by Banc America (GPS) By Emily Church Banc of America Securities is downgrading shares of the Gap (GPS) to market perform from buy, telling clients "our current rating change is driven by our concern that the company may not be seeing a sufficient pick-up in business trends to meet even reduced third quarter guidance." Analyst Dana Cohen lowered her third quarter estimate to 17 cents a share in earnings from 20 cents. She also cut 2002 estimate by 10 cents to $1 a share. "It appears the topline turnaround is being pushed our further," she said. She cut the stock from strong buy a few weeks ago. UNQUOTE