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Non-Tech : Cendant Corporation (NYSE:CD) -- Ignore unavailable to you. Want to Upgrade?

To: Roy F who wrote (2694)	11/30/1998 8:29:00 AM
From: Wolf 2	Read Replies (1) \| Respond to of 3627

Roy: Unless I'm going deaf...a distinct possibility...Ms. Bartiromo said that Goldman Sachs is giving CD the upgrade from market perform to its highly respected recommended list. At the end of the day, though, it doesn't matter which brokerage house upgrades as long as they come around!<ggg> Regards, Wolf

To: Roy F who wrote (2694)	11/30/1998 9:31:00 AM
From: Steven Messina,L.M.T.	Read Replies (1) \| Respond to of 3627

Pre oPen Bid anyone? <e>

To: Roy F who wrote (2694)	11/30/1998 12:51:00 PM
From: Bob Rudd	Respond to of 3627

Monday November 30, 12:01 pm Eastern Time Cendant shrs rally after Goldman upgrade NEW YORK, Nov 30 (Reuters) - Cendant Corp. shares rallied from the start of New York Stock Exchange trade Monday, adding as much as $2 per share to $20 after Goldman Sachs upgraded the stock to ''recommended'' from ''market performer.'' In later Big Board trade, shares in the travel and real estate franchiser eased to $19.25, up nearly 7 percent against a broad downturn in U.S. equities where the Dow Jones Industrial averge tumbled more than 125 points. ''We are adding the shares of Cendant to the U.S. Recommended List from a Market Performer rating with a $24 (per share) price target,'' stated the Goldman research note, a copy of which was obtained by Reuters. The Goldman analyst, Steven Kent, was not immediately available to discuss the Cendant opinion change. ''Our more favorable outlook is based on our expectation that positive catalysts will increase confidence in the sustainability of (Cendant's) earnings growth and renew investor interest over the next several months now that most of the negative issues overhanging the company have been addressed,'' according to the note. Cendant has been working to restore investor confidence after it announced in April accounting irregularities at CUC International, the direct marketer that merged with HFS Inc. last December to form Cendant, based in Parsippany, N.J. The news weighed on Cendant shares through the spring and summer as the reach and cost of the irregularies grew, dropping the stock from about $41 in early April to an all-time low of $6.50 reached during the general equities rout of early October. But the shares have tripled since then, while the company has been selling non-core businesses and reporting strong earnings. Cendant also conducted an investigation into the irregularities, later described as errors and fraud, and restated earnings going back to 1995. ''We believe that Cendant has a strong business model with solid underlying fundamentals and long-term earnings growth of 18 to 20 percent,'' according to the Goldman note. Kent noted other factors supporting his Cendant outlook include the company's $1 billion share repurchase program, the possible sale of more underperforming assets and increased confidence in earnings forecasts>> Also mentioned was upcoming Analysts meeting Dec. 9, where HS will make the case for turnaround and up, up, & away