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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Druss who wrote (13466)	9/3/1998 3:59:00 PM
From: Mr.Manners	Respond to of 18691

Druss, Excellent post. Here's one url from cbs: cbs.marketwatch.com

To: Druss who wrote (13466)	9/3/1998 5:10:00 PM
From: Oeconomicus	Read Replies (1) \| Respond to of 18691

Druss, forget the PE - they are going to report a loss. S&P already downgraded, BTW, to AA from AAA in July, so I doubt they are going under. Also, the stock is down to $49 from $115 in 13 months (10% today) and now sells at a market cap (including debt using an old figure as that's all I could find) in the low $30 billions compared to projected annual revenues of $57 billion. Don't know the size, but they are taking "extraordinary charges" for restructuring and to write down investments, so some portion of the $1.8 billion is a one-time hit (perhaps they've learned something from US companies). In short (no pun intended), all the bad news may already be out. Just a note of caution, Bob