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

To: Due Diligence who wrote (7822)	5/2/1999 10:22:00 PM
From: Bullhorn	Respond to of 52051

From OPTISTOCK, May 2- &L SELLS SUNGLASS BIZ TO LUXOTTICA Luxottica (LUX, 15-7/8) is the new owner of Bausch & Lomb's (BOL, 75) sunglass brands, which include Ray-Ban, Revo, Killer Loop, and Arnette. The $640 million cash transaction is expected to close by the end of June. The deal is good news for both companies: B&L will use the after-tax gain of $120 million to pay down debt and grow its core vision care businesses, while Luxottica will capitalize on the high visibility of the sunglass lines. Luxottica already produces frames and sunwear under the Giorgio Armani, Vogue, Anne Klein, Ferragamo, and Brooks Brothers names. For now, Luxottica will maintain the acquired sunglass business as is, including the employees in Rochester, N.Y. ANALYST ACTION Luxottica (LUX, 15-7/8): Merrill Lynch upgraded the near-term rating from Accumulate to Buy. BMC Industries (BMC, 8-15/16): Dain Rauscher upgraded from Neutral to Buy. Bullhorn