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Technology Stocks : Howmet Intl. HWM / Thiokol joint venture ipo -- Ignore unavailable to you. Want to Upgrade?

To: soozathelooza who wrote (2)	12/3/1997 9:37:00 PM
From: Michael J. Bartosh	Read Replies (1) \| Respond to of 24

Paul, I left that issue at work. I will verify it tomorrow. I started reading the S-1 filing, lot of data to go through. Like what the company does, will have to do some more research before jumping in. Mike B.

To: soozathelooza who wrote (2)	12/8/1997 12:22:00 AM
From: Dick Roy	Read Replies (1) \| Respond to of 24

Hi Paul, I also bought the stock though it was a bit early given unclear fundamentals. Looks like Howmet might suffer somewhat of a loss next quarter because of acquisition and restructuring charges (smart, isnt it? Thiokol sticks the subsidiary with all the bills from the high-priced M and A lawyers!) Probably Howmet shares will decline temporarily once the numbers are out. That's the time to buy. Anyhow I got interested in this sector because of the very profitable operations of the titanium cos upstream like RMI (RTI), Oregon Metallurgical (OREM) and Timet (TIMT). I figured downstream cos should follow suit but found ones like Precision Castparts (PCP) too expensive for my taste. Hopefully long term HWM is a good investment. Their past earnings seem weak. Hope they aggressively reduce costs without cutting muscle. (I bought into Oremet and RTI at around 23 and 20.5 respectively. around Sept. Oremet is now undergoing acquisition by Allegheny Teledyne (ALT) so shares are up over 32.) My guess is that though Boeing's earnings are impacted by production bottlenecks, the parts and metals suppliers should do just great over the next 2 years, while the large brokerage analysts are saying stick to blue chips now that we have the Asian economic pandemic. I was quite happy, thank you, buying titanium shares at between 9 and 13 times earnings. Coke anyone at some 40 times earnings? Howmet should be an interesting story, though wondering how the small float ratio will affect the market for this stock