NEW YORK, Aug. 18 /PRNewswire/ -- Read the following articles exclusively
at S&P Personal Wealth (http://www.personalwealth.com). Standard & Poor's is
a division of the McGraw-Hill Companies:
"S&P Passes Judgment on Effects of Clinton's Testimony"
The U.S. stock market managed to brush aside President Bill Clinton's
grand jury testimony Monday, finishing the day in positive territory
after a "sell on the rumor" dip at the open. Market players didn't
appear too concerned about one of the biggest Presidential crises in
decades. But should they be? Find out what impact, if any, Standard &
Poor's market watchers think the testimony will have on the financial
markets in Equity Insights.
"S&P Cuts Estimate for Hewlett-Packard"
S&P equity analyst Megan Graham-Hackett lowered her fiscal 1998 (Oct.)
earnings per share estimate for Hewlett-Packard (NYSE: HWP) by $0.07 to
$2.85 after the company posted third quarter earnings per share of
$0.58, the same as in the year-earlier period, on 5% higher revenues.
Graham-Hackett said earnings were at the high end of the company's
pre-announced range, helped by larger than expected interest income.
She continues to rank the stock 3 STARS (hold), saying it is fairly
valued at 15 times her fiscal 1999 earnings per share estimate of
$3.65. Get unbiased opinions on stocks in the news every trading day
from S&P STARS Picks and Pans.
"Cooper Industries Shares Gain on News of Automotive Business Sale"
Shares of Cooper Industries (NYSE: CBE) opened higher after the
manufacturer of electrical products, tools and hardware, and
automotive products agreed to sell its automotive business to
Federal-Mogul Corp. (NYSE: FMO) for about $1.9 billion. CBE also said
that it expects to be able to complete its previously-announced
$500 million stock repurchase plan before the transaction closes.
Other stocks featured in this morning's MarketMovers include Talbots Inc.
(NYSE: TLB), Deere & Co. (NYSE: DE), Tommy Hilfiger (NYSE: TOM), Jones
Apparel Group (NYSE: JNY), Gadzooks Inc. (Nasdaq: GADZ), J.C. Penney
(NYSE: JCP), AnnTaylor Stores (NYSE: ANN), Home Depot (NYSE: HD), Estee
Lauder (NYSE: EL), and Limited Inc. (NYSE: LTD).
S&P Personal Wealth (www.personalwealth.com) is the award winning service
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SOURCE Standard & Poor's
/CONTACT: Mark Roth of Standard & Poor's, A Division of The McGraw-Hill
/Web site: http://www.personalwealth.com/
(HWP CBE FMO TLB DE TOM JNY GADZ JCP ANN HD EL LTD)
CO: Standard & Poor's Personal Wealth
ST: New York
IN: FIN MLM PUB
-0- Aug/18/1998 11:10
EOS (PRN) Aug/18/98 11:10 86
-0- (PRN) Aug/18/ 98 11:25
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