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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (61838)	3/10/2002 12:49:01 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Confidence in Recovery May Drive Rally: U.S. Stocks Outlook By Danielle Sessa quote.bloomberg.com New York, March 9 (Bloomberg) -- U.S. stocks may extend gains as confidence in an economic recovery grows, some money managers say. Federal Reserve Chairman Alan Greenspan said this week a recovery has begun, and the government reported the economy added jobs for the first time since July, leading some investors to bet corporate profits will rise faster than anticipated. ``The market is clearly responding to an improved economy that will lead to profit growth,'' said Neil Kilbane, a manager at Victory Capital Management, which oversees $72 billion in Cleveland. Kilbane, whose Victory Value Fund ranks in the top 15 percent of mutual funds the past five years, according to Bloomberg data, is buying industrial stocks including Honeywell International Inc., the biggest maker of cockpit electronics, and Textron Inc., the maker of Bell helicopters and Cessna planes. Both stocks are less expensive than the benchmark Standard & Poor's 500 Index, which trades at 22 times forecast earnings.