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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: Alan Newman who wrote (507)	10/23/1998 10:39:00 AM
From: Franco Battista	Read Replies (1) \| Respond to of 19428

«The kick is still there from the typical earnings season boost as most companies beat earnings expectations.» Considering the estimates were slashed significantly, meeting them or even beating them was not such a great feat. This game has been going on for at least the last three quarters, and it has worked. Watch for the same in the next quarter with layoffs and restructurings which will be perceived as positive for earnings. What is really frustrating is that in general only the positive slant is reported in the media: i.e. that earnings estimates were surpassed. Very little mention that they are significantly down from last year. The problem of overproduction is still out there and getting worse as more and more countries have to dump products to face economic crisis at home.