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Technology Stocks : WCOM -- Ignore unavailable to you. Want to Upgrade?

To: JB who wrote (2779)	7/2/1998 9:00:00 AM
From: Jim Lurgio	Read Replies (1) \| Respond to of 11568

Does anyone see WCOM entering the Wireless world ?

To: JB who wrote (2779)	7/2/1998 1:16:00 PM
From: Anthony Wong	Respond to of 11568

Lehman's Applegate: List Is 'Bottom-Up' Stock-Picking July 01, 1998 6:01 PM NEW YORK (Dow Jones)--Jeffrey Applegate, Lehman Brothers Inc.'s chief investment strategist, said his firm's "10 uncommon values" list represents "good old bottom-up stock-picking. "We survey our analysts, ask them to come to us with their top pick that they think is going to do the best over 12 months, and then our investment policy committee culls those ideas and we reduce it to what we hope are the 10 best ideas in the universe," Applegate said in an interview on CNBC Wednesday. Star Banc Corp. (STB), which is on the list, is going to grow through acquisitions, he said. "We think they'll get it right and it'll be accretive and that should continue to propel the stock for outperforming the market," he said. MCI Communications Corp.'s (MCIC) appearance on the list is a vote of confidence that the company's pending merger with WorldCom Inc. (WCOM) will receive the necessary regulatory approvals and proceed, he said. MCI "will become one of the more credible and important players in global long distance, telecoms generally, and also, increasingly, the Internet," Applegate said. Other stocks on the list are Applied Materials Corp. (AMAT), Office Depot Inc. (ODP), Clear Channel Communications Inc. (CCU), Progressive Corp. (PGR), Comverse Technology Inc. (CMVT), Danaher Corp. (DHR), Tyco International Inc. (TYC) and Illinova Corp. (ILN). Separately, Applegate said U.S. stock markets have room on the upside this year. "We're still using a price target for the Dow Jones (Industrial Average) at year-end of 9800 (and for) the S&P 500 of 1200," he said. "So we're still shy of both of those price targets." Nonetheless, he added that corporate profits won't rise as much as they did in 1997. "We've got profits forecast up only 4% this year versus 10% last year," he said, "so we think there is going to be a big slowdown in profits." -Victor Ozols; 201-938-5394