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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW) -- Ignore unavailable to you. Want to Upgrade?

To: Stock Watcher who wrote (6122)	4/11/1999 11:45:00 AM
From: LABMAN	Read Replies (1) \| Respond to of 52051

Financial stocks become a refuge from CBS MKT WATCH That is another reason why RCCK is a buy Financial stocks become a refuge After trailing broader market, suddenly they surge By Emily Church, CBS MarketWatch Last Update: 5:10 PM ET Apr 9, 1999 Market Snapshot Bond Report NEW YORK (CBS.MW) -- Investors are charging into the financial stocks seeking safety from a spate of bad news elsewhere. Although bank stocks were mixed Friday, they climbed strongly in the past week, including a 2.44 percent jump on Wednesday. It's about time. Financial stocks have been trailing the broader market this year. The S&P Chicago Board of Options Exchange Bank index ($BIX) was up 5.9 percent year-to-date Thursday against a 7.9 percent rise in the S&P 500 stocks and a 9.8 percent gain in the Dow Industrials. "The question is are we at the beginning of a sector rotation, and I'm not convinced that we really are," said Kevin Timmons, industry analyst at First Albany. "The gains over this week may have been as much related to the blow ups by other companies pre-announcing bad quarters," he said. "The banks earnings have been pretty consistently going up and it's a place to take some cover." With first-quarter earnings reports starting to come in for the regional banks, those recent gains that drove some issues into record territory could be vulnerable. But most analysts are expecting a solid quarter for the group, especially those with trading and investment banking operations, or capital markets businesses. The banks are also gaining on strong profits outlook for the brokerage industry. Morgan Stanley Dean (mwd: news, msgs) trounced analysts' estimates for its first quarter in late March, posting a 60 percent gain in per-share profits on huge gains from trading. See full story. Morgan Stanley's stock broke through its 52-week high with a gain of 4 to 111 1/2. Online broker National Discount Broker (ndb: news, msgs) momentarily popped through its 52-week-high of 47 2/3 on Friday as well, before ending the day with a modest 3/8 gain to 46 5/8. Overall, analysts are expecting earnings for the money center banks will be down 2 percent from the year-ago quarter, and that the regionals will post 9 percent growth in profits, said Chuck Hill, director of research at First Call. Most of the money centers will report April 20 on 'super Tuesday.' Leading the pack is Chase Manhattan (cmb: news, msgs), which analysts expect to post a $1.25 per share gain vs. $1.18 a year-ago. Possible surprises Profits at Citigroup are expected to come lower at 86 cents per share vs. 90 cents a year ago, but analyst George Bicher at BT Alex. Brown is expecting a surprise from the massive financial services company. "The story of the first quarter is going to Citigroup," Bicher said. "Salomon Smith Barney had a strong quarter, and there's very strong performance across the board in corporate and consumer businesses... Things aren't as bad as people were convinced they were overseas." He's looking for Citi to come unchanged at 90 cents per share, "and I think the company has it within itself to beat that." A/D earnings estimates Among estimated decliners: JP Morgan (jpm: news, msgs) is expected to post earnings of $1.73 vs. $1.80 and Bankers Trust (bt: news, msgs), which is merging with Deutsche Bank, is seen reporting $1.08 vs. $2.01. Earnings for BankBoston (bkb: news, msgs), which is merging with Fleet (flt: news, msgs) are estimated at 73 cents vs. 79 cents. Estimated gainers include Bank of New York (bk: news, msgs), at 41 cents vs. 37 cents; Bank One Group (one: news, msgs) at 88 cents vs. 79 cents, Wells Fargo (wfc: news, msgs) at 50 cents vs. 47 cents and Fleet, 69 cents vs. 61 cents. The regional banks posted 15 percent earnings growth in 1998, and analysts are expecting the group to see 12 percent earnings growth this year, Hill said. Emily Church is New York bureau chief for CBS MarketWatch. For more breaking news, visit our Front Page. Also, search our news archives: Ticker Keyword (For more options use our Advanced Search) CBSMW MarketPlace Want the best mortgage rate around? Check out our loan center New! Find wine online. www.virtualvin.com Best Flower and Online Gift Shop: JustFlowers.com Discover all kinds of fun, innovative gifts @ sharperimage.com MarketWatch MarketPlace - Click to shop for great deals. Free Products/Trials FREE 2 week AUDIO subscription to The Wall Street Journal! New! Check out Baseline's Free Company Report of the week. Free trial subscriptions to investment newsletters. Free annual reports for hundreds of companies. FRONT PAGE NEWS INDEX HEADLINES NEWSGUIDE MARKET DATA MUTUAL FUNDS MARKET MONITOR PERSONAL FINANCE CHARTING PORTFOLIOS DISCUSSION TRADING CENTER FEEDBACK SEARCH ADVERTISING MEDIA KIT COMPANY INFORMATION MARKETWATCH RT MARKETWATCH LIVE © 1997-1999 MarketWatch.com, Inc. All rights reserved. Disclaimer. CBS and the CBS "eye device" are registered trademarks of CBS Inc. Back to Yahoo!

To: Stock Watcher who wrote (6122)	4/11/1999 12:03:00 PM
From: DOC HOLLIDAY	Read Replies (3) \| Respond to of 52051

SW, I've been doing my homework on RCCK & MORE over the course of the week-end (can't seem to get away from market "game"!!)and have decided to jump in both (quite large) on Monday. These two stocks (haven't checked out FNHC yet) really seem poised for serious gains, and I thank whomever brought them to my attention. Re. bringing HITT to INDEX#1...let me simply say HITT is my largest hold (in OTB-BB world) by far & am very confident it will make its mark in the internet portal sector...will see serious appreciation over the course of the year IMHO. JUST DOC'S THOUGHTS