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Strategies & Market Trends : The Amateur Traders Corner -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hua who wrote (17446)	12/20/2001 7:26:48 AM
From: JustTradeEm	Respond to of 19633

Morning Tom, find the following comments interesting since I'm being told it's all blue skies from here on in ... 06:59 ET Jabil Circuit (JBL) 24.75: -- Update -- JBL says that the economic environment has deteriorated since its conference call in Sept and that it expects a slower recovery of its business due to the recessionary economy. As a reesult, co reduces Q2 earnings outlook to $0.06-$0.08 (consensus $0.14). For the full yr, sees EPS of $0.50-$0.60 and rev of $3.5-$4.0 bln (consensus estimates $0.69 and $4.33 bln). Expects to resume sequential growth in fiscal Q3 and Q4. JB

To: Tom Hua who wrote (17446)	12/20/2001 8:04:32 AM
From: gladman	Read Replies (1) \| Respond to of 19633

Argentina could ruin the party for everyone.. >>Argentina's economy minister resigns Nation remains under siege amid rioting and looting By CBS.MarketWatch.com Last Update: 6:44 AM ET Dec. 20, 2001 BUENOS AIRES -- Argentina's economy minister Domingo Cavallo reportedly resigned Thursday as the country's plunge into chaos continued, with rioting and looting across the country.. According to several published reports, Fernando de la Rua, president of the country with South America's second largest economy, accepted Cavallo's resignation a day after declaring a state of siege, assuming special powers after unrest spread . At least six people were killed and 100 injured in a day of violence. Several wire services and television networks reported a government official requesting anonymity said Economy Minister Domingo Cavallo had offered his resignation. Reports also said De la Rua's entire cabinet also offered to step down. There was no official confirmation. De la Rua would decide whether to accept Cavallo's resignation later Thursday, the official told AP. Argentina is struggling to pay off more than $132 billion in government debt, and is suffering unemployment of about 18 percent. The emergency declaration followed a Cabinet meeting called by De la Rua to respond to violence on Wednesday that sent looters fleeing amid a fusillade of rubber bullets and tear gas in poor neighborhoods ringing Buenos Aires and in more than a dozen cities nationwide. "I urge those that are doing violence to cease those acts,'' De la Rua said, suggesting some of the looting had been organized by criminals. "With violence, we won't solve any of our problems.'' Government spokesman Juan Pablo Baylac said the state of siege would be in place 30 days, allowing authorities the right to suspend constitutional guarantees such as the right to assemble and travel freely, while giving police greater powers to make arrests. Baylac also said the government would release $7 million in food aid for many of the impoverished areas where looters overran supermarkets, shops and some government buildings to protest harsh austerity policies. TV news shows broadcast tapes made by security cameras showing the looting of a supermarket in Concepci󮠤el Uruguay, a town near the Uruguayan border. The police watched the pilferage with their hands behind their backs, according to a report from The New York Times. The rioting came amid more bad economic news. Acindar, a major steelmaker, announced today that it could not meet its debt payments, another sign that the private sector is collapsing under debt and high interest rates. !!!Meanwhile, the government appears to be coming close to halting payments on its debt.!!! Wall Street analysts reported today that $34 million in interest payments scheduled for Friday on bonds due in 2015 did not appear in bondholders' accounts as scheduled. Some $87 million on bonds due in 2008, payment of which was due Wednesday, was also not paid, the NYT reported.