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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: XOsDaWAY2GO who wrote (23778)	6/10/1998 4:16:00 PM
From: Lazlo Pierce	Read Replies (2) \| Respond to of 95453

Growing up in NY, I always remember a famous headline on the back page (sport page) of the NY Post. It was in the early 80s, and the NY Knicks were falling apart in the stretch run toward the playoffs. When asked about the Knicks chances in the playoffs, Michael Ray Richardson replied, and the NY Post printed (in LARGE BLOCK LETTERS taking up the entire back page) "THE SHIP BE SINKING"... For your viewing displeasure from briefing.com downgrades on the following boat companies (maybe that guy (Ralph Acumpura) from Prudential who called TDW a short for the entire year was right!) *********** <<SEACOR Smit Inc. (CKH) 56 5/16 -7/8: Furman Selz maintains "buy" rating on provider of marine services to the oil and gas exploration and production industry, but lowers estimates; company has high-quality deepwater fleet, is positioning fleet in international markets and has robust cash flow and a strong balance sheet; however, falling day rates prompt earnings reduction; lowers 1998 EPS from 6.55 to $6.15 and 1999 EPS estimate from $6.85 to $6.50 a share..... Trico Marine Services (TMAR) 15 5/8 -1 5/16: Furman Selz downgrades provider of oil field services from "buy" to "hold" based on falling day rates in the Gulf of Mexico; while stock still appears cheap on a P/E basis, near-term outlook is not good and therefore recommend avoiding the issue; lowers 1998 EPS from $2.95 to $2.25 a share and 1999 EPS from $3.80 to $2.25 a share..... Tidewater Inc. (TDW) 34 3/16 -1 3/8: Furman Selz downgrades oil field services concern from "buy" to "hold" to account for lower day rates in the Gulf of Mexico; has relatively old fleet and operates mainly in shallow and medium water depths; given weakness noted by drilling rigs, outlook for offshore services also likely to decline; lowers 1998 EPS from $4.75 to $4.15 and 1999 EPS from $5.40 to $4.35 a share.....