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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Earlie who wrote (181095)	7/18/2002 12:09:48 PM
From: Box-By-The-Riviera™	Read Replies (2) \| Respond to of 436258

DJ MARKET TALK: More Job Cuts Will Help Big Blue: UBS 18 Jul 11:06 Edited by Thomas Granahan Of DOW JONES NEWSWIRES (Call Us: 201-938-5299; All Times Eastern) MARKET TALK can be found using code N/DJMT 11:06 (Dow Jones) The "empire is striking back" and delivering superior financial performance with its enhanced portfolio, and remains well positioned to continue gaining share, UBS Warburg says of IBM. Keeps strong buy rating with a $120 price target. "We believe the company's work-force reduction will far exceed earlier disclosures which will begin to materially reduce operating expenses in 3Q," firm says. "The restructuring of aluminum semiconductor capacity (lost $913 million in 2Q) should also benefit 3Q results, making it very likely IBM can make solid EPS progress in 3Q despite the bad macro-setting." IBM up 2% at $72.11. (YZH)

To: Earlie who wrote (181095)	7/18/2002 12:13:16 PM
From: Haim R. Branisteanu	Respond to of 436258

U.S. Philadelphia-Area Factory Index Falls to 6.6 in July (economy weakening) By Siobhan Hughes Washington, July 18 (Bloomberg) -- Manufacturing in the Philadelphia area expanded during July at the slowest pace for this year. The Philadelphia Federal Reserve Bank's general economic index fell to 6.6 this month from a four-year high of 22.2 in June. That was less than the 17.5 expected by economists. ``The pace of growth is less robust,'' said Richard DeKaser, an economist at National City Corp. in Cleveland. Economists had expected a reading of 17.5, based on the median of 37 forecasts in a Bloomberg News survey.

To: Earlie who wrote (181095)	7/18/2002 12:25:28 PM
From: James C. Mc Gowan	Read Replies (1) \| Respond to of 436258

Earlie, FWIW the MaxPain on IBM last night was at 75 for July/Friday expiry. When Philly numbers hit the wire, IBM flinched like 60 cents from 74.1 down to 73.5 Options MM's don't need those Stinking numbers, ho ho. Might be that 74+ was close enough to close out the books on IBM for this month. We shall see. Maybe after options expiry, some will begin to look at this report with a jaundiced eye, but not now. IMHO James

To: Earlie who wrote (181095)	7/18/2002 12:39:28 PM
From: marginmike	Read Replies (1) \| Respond to of 436258

looking to reshort it at 3:30

To: Earlie who wrote (181095)	7/18/2002 1:14:06 PM
From: orkrious	Read Replies (1) \| Respond to of 436258

I fully intend to get the behind-the-scenes B.S. into the press earlie, have you ever talked to Fred Hickey? He's got an in with Gretchen Morgensen <sp?>.