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Strategies & Market Trends : Guidance II -- Ignore unavailable to you. Want to Upgrade?

To: ChrisJP who wrote (901)	3/25/2002 4:23:52 PM
From: 2MAR$	Respond to of 2077

=DJ US Stocks Fade On Earnings Worries; DJIA Falls 1.4% By Robert O'Brien Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Stock prices tumbled as Wall Street fretted that, even in the midst of an economic rebound, the improvement in fundamentals won't translate into an increase in earnings when corporate America releases first-quarter results. Ford Motor fell 62 cents, or 3.7%, to $16.05, after an executive at the auto maker, speaking at a conference in Detroit, acknowledged expectations that the company won't post a profit for the first quarter. Rival auto makers also declined, with General Motors off 1.11, or 1.9%, at 58.80, while DaimlerChrysler declined 1.24, or 2.7%, to 45.41. Shares of McDonald's, which lost 4% Friday after the company warned that it would miss profit estimates in the first quarter, declined another 43 cents, or 1.6%, to 27.22, after analysts expressed their skepticism about McDonald's ability to revive its sales growth as quickly as the company promised. Anglo-Dutch food products giant Unilever fell 44 cents, or 1.3%, to 32.95, after the company said its first-quarter sales growth will slow to between 1% and 2%. Among technology stocks, shares of EMC lost 56 cents, or 4.8%, to 11.04, after Salomon Smith Barney and Pacific Growth Equities made some pessimistic forecasts about the data-storage giant's first-quarter outlook. The Dow Jones Industrial Average finished the session down 146 points, or 1.4%, at 10281.67. The Nasdaq Composite Index lost 38.90 points, or 2.1%, to 1812.49. "A number of investors want to see tangible evidence of an earnings pickup, rather than just an economic recovery, in order to feel comfortable buying stocks," Thomas Galvin, chief investment officer at Credit Suisse First Boston, said Monday. "Until bond yields stop rising and earnings estimates start increasing, I suspect the market is going to remain in some kind of holding pattern." (MORE) DOW JONES NEWS 03-25-02