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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (1621)	4/30/1999 11:52:00 PM
From: porcupine --''''>	Read Replies (1) \| Respond to of 1722

AT&T sees strong EPS, rev growth for Q2, year NEW YORK, April 27 (Reuters) - AT&T Corp., the largest U.S. phone company, on Tuesday said it was on track to generate strong profit and sales growth in the second quarter, as well as the full year 1999. AT&T, which reported better-than-expected first quarter profits, said it expects its second quarter earnings per share to be in the range of 45 cents to 49 cents a share, including its recent acquisition of Tele-Communications Inc. "Revenue growth in the quarter should continue at levels similar to the first, with stand alone and pro forma revenue growth centered around the 6 percent target," AT&T Chief Financial Officer Dan Somers said in a conference call. For the full year 1999, AT&T said it expects its earnings to be at the high end of the expected range of $2.13 a share to $2.20 a share. AT&T also expects is 1999 revenues to be at the high end of expectations. The company previously said it expects 1999 revenues to grow between 5 percent and 7 percent. AT&T also increased its growth expectations for its wireless business based on the tremendous success of its Digital One Rate pricing plan. It now expects the wireless unit to grow revenues more than 20 percent, which is higher than the mid-to-high teens growth it previously expected. AT&T said it expects its AT&T Solution business to exceed its revenue growth objectives. Shares of AT&T gained 69 cents to $53.625 on the New York Stock Exchange. (( Jessica Hall, New York newsroom 212-859-1729))

To: porcupine --''''> who wrote (1621)	5/3/1999 1:24:00 PM
From: porcupine --''''>	Respond to of 1722

"Manufacturing Sector Still Growing" [price rises accelerate] Filed at 12:17 p.m. EDT NEW YORK (AP) -- The nation's manufacturing sector continued to expand for the third straight month in April, but the growth was less robust than in the previous month, corporate purchasing executives said in a survey released today. The National Association of Purchasing Management reported its monthly index of business activity fell to 52.8 percent, down 1.5 percentage points from its March level. ''The manufacturing sector continued to improve in April. Both production and new orders remained positive and it appears that the manufacturing sector has significant momentum, with a much broader base of growth this month as 16 of 20 manufacturing industries were above the break-even line (of 50),'' said Norbert J. Ore, chairman of NAPM's Business Survey Committee. The NAPM considers any reading above 50 percent as a sign of growth in the industrial sector. The organization assesses the health of the nation's factories, and in turn the overall economy, through a monthly survey of its members. The trade group's findings are widely followed by economists including Federal Reserve Board Chairman Alan Greenspan because they usually are the first indicator of how the economy performed in the just-ended month. Prices jumped 6.7 percentage points to 49.9 percent, but still remained below their December 1997 level. That marks the fourth straight increase in the prices index and was the largest jump since May 1996, said NAPM spokeswoman Zenobia Daruwalla. The rebound in prices has sparked concerns about inflation and tempered any boost the overall survey might have given the markets, said William Sullivan, senior economist with Morgan Stanley Dean Witter. ''It represents a change and we have to be watchful. Clearly there is some cause for concern,'' Sullivan said. ''The real question is have we turned around to point toward rising inflation or is the economic environment so different, that a modest increase doesn't have any influence on broad economic trends.'' While a halt of falling prices could signal a change in the economy, Ore said other signs point toward continued growth. The strengthening of an order backlog index -- up for the second month in a row -- indicates manufacturing activity will continue to grow in the next two months, he said. ''The overall picture is one of continuing growth in manufacturing activity during the month of April,'' Ore said. ''Production and new orders remain quite positive and provide an indication that the manufacturing sector is gaining strength as we move toward the middle of 1999.''