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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Eric who wrote (24527)	4/20/1999 6:21:00 AM
From: Zoltan!	Read Replies (1) \| Respond to of 77397

Dow Jones Newswires -- April 19, 1999 Bank One Fund Managers See Sustainable Rise In Stocks By Richard C. ten Wolde NEW YORK (Dow Jones)--Money managers from One Group Mutual Funds, a division of Bank One Corp. (ONE), said Monday they expect stock prices to continue to climb in the next 12 months as the present market rally broadens to include sectors that have remained stagnant until now. Despite Monday's drop in stock prices, Rick Jandrain, the chief investment officer for the fund group, said at a press conference here that he foresees strong earnings, low inflation and checked interest rates contributing to a prolonged upward trend. Investors can expect to see a shift in leadership among the top-performing stocks, Jandrain said. Though he doesn't expect technology stocks to fall, he said other sectors will catch up to those stocks, as the global economy regains its stride. "I think you are going to see a lot of positive earnings surprises across the board," Jandrain said. "The economy has been much stronger than expected (in the first quarter), and on the international front, it looks like business wasn't as bad as expected." Duane Eatherly, a technology analyst at the fund family, said he expects tech stocks to continue to be leaders within the economy's sectors. The Internet, he said, will facilitate the growth in the sector driving growth in personal-computer sales and corporate sales over the Internet. Still, the Nasdaq Composite Index fell again Monday, plunging 5.6%, the seventh sharpest dive in terms of percentage. And the index is down 9.7% since its April 12 high. The One Group funds are investing in the companies building the components needed to keep the Internet running, such as Cisco Systems Inc. (CSCO), Oracle Corp. (ORCL) and EMC Corp. (EMC), and those benefiting from marketing sales services on the Net, such as Amazon.com Inc. (AMZN). If Jandrain is right and the stock rally widens, Ronald Doyle, who oversees the group's small-cap funds, likely will be relieved. He's been expecting a rebound in small-caps for 2 1/2 years. Doyle said banks are one area of promise among small companies. He likes TCF Financial Corp. (TCB) and Charter One Financial Inc. (COFI). interactive.wsj.com