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Message subject : Word On The Street (US)
This message was posted by Ted Weisberg on May 13, 2000 :
"We're sort of hostage to the Fed," says Ted Weisberg of Seaport
Securities. "Are they going to be up 50-basis points, 25-basis points, and
is there going to be another one? This has sort of put a big blanket over
Market Preview For Next Week
All eyes will be on the Federal Reserve Open Market Committee meeting on
Tuesday for the anticipated 50-basis-point rate hike. A relief rally could
follow this announcement, although investors will be looking for clues to
future rate increases this year.
Hewlett-Packard [HWP] is the big tech name reporting earnings next week.
Analysts polled by First Call expect the company on Tuesday to announce
second-quarter earnings of $0.82 per share, compared with $0.73 during the
same quarter last year.
Other Factors Affecting Stocks
Champion International [CHA] late Friday announced that Finnish
UPM-Kymmene, the world's third biggest paper and board producer, would not
counter a rival bid by International Paper [IP] for the company. Champion
later announced it would accept International Paper's bid.
After Friday's close, Safety-Kleen [SK] said its three top executives had
Shares of Powerwave Technologies [PWAV] are expected to split 3-for-1 and
shares of Suncor Energy [SU], Silicon Valley Bancshares [SIVB] and American
Technical Ceramics [AMK] are expected to split 2-for-1 based on Monday's
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