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To: Jeff Jordan who wrote (15047)	9/17/1998 9:22:00 PM
From: PaulB	Read Replies (2) \| Respond to of 120523

Off the front page at quote.com, anyone have comments on where we are going on Friday. Paul Markets around the world made their desire for a rate cut clear today following Alan Greenspan's admission yesterday that there has been no discussion of a coordinated rate cut among G7 officials. The DJIA(sm) fell more than 200 points at the opening bell reflecting the disappointment of major overseas markets which finished their sessions 3% - 6% lower. ADRs suffered the deepest losses led by French telecom equipment maker Alcatel Alsthom which dropped 37% after warning that earnings will be lower than expected. The losses refocused attention on the crisis in the Japanese banking system and problems in Latin America. Tomorrow should be better since it is a triple-witching day, which means that anyone who hasn't exercised their September options contracts must act. Options' analysts believe that, given the negative bias today, investors will exercise their options tonight to avoid risking further losses, creating buying pressure tomorrow that should lead the market higher. In addition, there are new rumors floating around that Brazil is making progress in reaching a bailout agreement with the IMF. The one cause for concern is that the market was still declining at the close which could effect tomorrow's direction.

To: Jeff Jordan who wrote (15047)	9/17/1998 9:36:00 PM
From: Jenna	Respond to of 120523

Nike's 1st-Quarter Profit Fell 35% But Exceeded Street Expectations (Bottom line is it doesn't matter if your earnings sucked, as long as they sucked less than analysts expected them to... Okay gang watch MLHR, CCL, INTV,SLR,and the real winners) NEW YORK -(Dow Jones)- Athletic shoe and apparel giant Nike Inc. late Thursday reported a 35% decline in fiscal first-quarter earnings as Asia's financial woes weighedon revenue, Still, the results topped Wall Street expectations. The Beaverton, Ore.-based company reported net income of $163.8 million, or 56 cents a share on a diluted basis, for the period ended Aug. 31, eight cents a share above the mean estimate of 15 analysts surveyed by earnings tracker First Call. In the year-ago period, Nike (NKE) earned $253.1 million, or 87 cents a dilutedshare. Revenue, meanwhile, slipped 9.4% to $2.50 billion from $2.77 billion a year earlier. Revenue in the Asia Pacific region slid 46% to $199.1 million. Nike said it plans to eliminate about 300 positions throughout its Asia Pacific operations, or 15% of its work force in the region. to better align its overall cost structure and organization with planned revenue levels. Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved.