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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: RR who wrote (58611)	7/11/2003 9:09:34 PM
From: Sully-	Read Replies (1) \| Respond to of 65232

Well, while you ponder that consider my follow up post........ Message 19100210 and today...... Bellweather, GE just barely met consensus estimates for the qtr. (38¢). Revenues rose 0.1% YOY to $33.37 bln. They lowered their guidance down for the rest of the year from a range of $1.55 - $1.70 to $1.55 - $1.61 (consensus is $1.60). This means earnings growth going forward will be around 3% to 7% YOY for a company that has previously reported in excess of 10% YOY growth regularly. CEO Immelt said that though economic growth is likely to remain slow, some factors for the industrial businesses are improving. Shares of GE are up nearly 35% from their lows in mid-February. June PPI came in at +.5%, well above consensus. Forget the core PPI because the gas station isn't going to let you pay 30¢ per gallon less because it was that much lower last year. And those non-core increases must be paid by all producers as well...... those same producers who cannot raise prices due to all the excess capacity & global competition out there...... that means profits are being squeezed...... everywhere! You can do the math on what that does to P/E ratios. Oh & those higher energy & food prices we keep paying? That means we all have a lot less to spend somewhere. MNC warns for Q2 - EPS slashed from 15¢ per share to "slightly above breakeven" & slightly lowered revenue estimates to the range of $266-268 mil for the qtr. CIGNA warns for Q2 & for FY 03 - slashes Q2 EPS of $1.00-1.15, vs consensus of $1.49 - slashes FY03 EPS of $5.00-5.25 vs estimate of $6.02 CPWR guides below consensus - slashes EPS to 1¢ vs. consensus of 6¢ - slashes revenues to $300-$305 mln vs. consensus estimates of $316.73 mln FAST reports in line - revenues rose 6.7% YOY, but were slightly below the $249.5 mln consensus estimates for the qtr. Shares of FAST have gone up over 23% in the last 4 months. WAB guides in line for the qtr & for the year - revenues slightly up - $700 mln vs. consensus of $698 mln & earnings slightly lower - Y03 EPS of 50¢ - 60¢ vs. consensus of 60¢. FSTW warns for Q2 - slashes EPS to 1¢ - 4¢ vs. estimate of 22¢ LUME warns for Q2 - revenue estimates slashed to $68 mln vs. consensus of $85 mln. CK guides Q2 below consensus - Company now expects a loss of $0.08 per share vs. consensus consensus of +14¢ based on "higher raw material and energy costs, reduced unit volume from a generally weaker global economic environment and lower selling prices."