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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Ryan Mak who wrote (20084)	12/18/1998 12:48:00 AM
From: Jenna	Read Replies (2) \| Respond to of 120523

BBBY.. very bullish here as well Net Earnings Increase 30.1% to $24.7 million ($.17 per share).. it was an earnings play alternative selection and that is why it was on the daily watch list with MLHR.. Similarly I am now expecting BBBY to break through resistance of 31 5/8 because of this report. Chart was mixed until today.. with relative strength and MACD bullish but volume indicators still bearish. Since (as in BBY) the relative performance for the year is a very high 92, I think now the technical rank (which was a very low 40) will rise to close the gap and BBBY will increase in price. It is very good when a stock that has a low technical rank has a good earnings report, had BBBY been overbought I would hesitate but BBBY is now in a pivotal position to break out of resistance and hit its 52 week high of 33. Net Sales Rise 29.3%; Comparable Store Sales Grow 8.8% UNION, N.J., Dec. 17 /PRNewswire/ -- Bed Bath & Beyond Inc. (Nasdaq: BBBY) today reported that in the fiscal third quarter (thirteen weeks) ended November 28, 1998, as compared with the fiscal third quarter (thirteen weeks) ended November 29, 1997, net sales rose by 29.3%, net earnings increased by 30.1%, and net earnings per share grew to $.17 from $.13. Per share amounts have been adjusted to reflect the two-for-one stock split on July 31, 1998 of the Company's common stock (which was effected in the form of a 100% stock dividend). Net earnings for the fiscal third quarter ended November 28, 1998 were $24.7 million, exceeding $18.9 million earned in the fiscal third quarter of the prior year. Net sales for the fiscal third quarter were $363.4 million compared to net sales of $281.0 million achieved in the corresponding quarter of the prior year. Comparable store sales for the fiscal third quarter increased by approximately 8.8%.