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Message subject : Word on the streets

This message was posted by Frank Gretz on May 15, 2000 :

Market Preview For Tuesday
With the Fed expected to raise interest rates 50 basis points at its
meeting Tuesday, April's Consumer Price Index data might influence the
markets' next move. If the CPI numbers come in weaker than expected, a 50
basis point rate hike might be seen by the markets as being too extreme.

Brocade Communications Systems [BRCD], a maker of switches and software for
storage area networks, after Monday's close reported second-quarter
earnings of $0.11 per share, compared with a loss of $0.01 during the same
period last year. Analysts polled by First Call expected $0.08 a share.

Other Factors Affecting Stocks
Coca-Cola Enterprises [CCE] late Monday warned that its earnings this year
would fall well short of current expectations.

Word On The Street
"I happen to think we're going to be in a trading range here for a while,
not because the market has so much more weakness to go through, but just
because of time," says Frank Gretz at Shields & Co. "I think it's going to
take us some time get out of this kind of correction that we've been in and
it's likely to be more like months, rather than weeks."

Selected Expected Earnings Releases
(Consensus Estimates vs. Last Year, Provided By First Call/Thomson
Agilent [A] Q2 $0.32 vs. N/A
Hewlett-Packard [HWP] Q2 $0.82 vs. $0.73
Home Depot [HD] Q1 $0.27 vs. $0.21
Kohl's [KSS] Q1 $0.14 vs. $0.12
JC Penney [JCP] Q1 $0.23 vs. $0.61
Saks [SKS] Q1 $0.23 vs. $0.27
Staples [SPLS] Q1 $0.09 vs. $0.11
Target [TGT] Q1 $0.49 vs. $0.41
Tiffany [TIF] Q1 $0.37 vs. $0.22
Williams-Sonoma [WSM] Q1 $0.06 vs. $0.06

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