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"Early Easter Hampers April Retail Sales"
April retail sales came in on the weak side, hurt by the early Easter
holiday this year, notes S&P equity analyst Karen Sack. She says most
retailers posted weak same-store sales gains, and some reported declines,
as consumers slowed spending from March. However, she notes, it is too
soon to judge whether or not this is the start of a consumer slowdown in
spending. She maintained her 5 STARS (buy) recommendations on Saks Inc.
(NYSE: SKS), Costco Cos. (Nasdaq: COST), and Dayton Hudson (NYSE: DH).
MarketViews provides the thoughts of leading investment strategists,
portfolio managers and other market mavens on the stock and bond markets
and the state of the economy. MarketViews also features Paul Cherney's
market commentary every weekday evening.
"S&P Reiterates Hold Opinions on Royal Dutch, Shell Transport Shares"
Standard & Poor's reiterated its 3 STARS (hold) recommendations on shares
of Royal Dutch Petroleum (NYSE: RD) and Shell Transport (NYSE: SC) after
Royal Dutch/Shell Group, owned 60% by RD and 40% by SC, reported 26%
lower first quarter net income before special items. Analyst Norman
Rosenberg notes that results were hurt by lower commodity prices, weaker
refining/marketing margins, and lower chemicals prices, but he believes
that profits over the rest of 1999 will be aided by higher commodity
prices. He feels that the stocks are fairly valued at small premiums to
the major oil group's P/E and price/cash flow multiples. Word on the
Street brings you comments every trading day from Wall Street's top
equity analysts on stocks or industries that are moving significantly.
"Litton Offers to Buy Both Newport News, Avondale"
Litton Industries (NYSE: LIT) offered to acquire Newport News
Shipbuilding (NYSE: NNS) for 0.55 LIT share per NNS share in a deal
valued at $1.9 billion, including debt assumption. LIT also offered to
acquire Avondale Industries (Nasdaq: AVDL), with whom NNS had agreed to
merge, for $38 per share cash in a deal valued at $500 million. Other
stocks featured in this morning's MarketMovers include Qlogic Corp.
(Nasdaq: QLGC), Young Broadcasting (Nasdaq: YBTVA), Sterling Commerce
(NYSE: SE), Wackenhut Corp. (NYSE: WAK), Whole Foods Market
(Nasdaq: WFMI), and NEON Systems (Nasdaq: NESY).
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SOURCE Standard & Poor's
/CONTACT: Mark Roth of Standard & Poor's, A Divisionn Of The McGraw-Hill
/Web site: http://www.personalwealth.com/
(SKS COST DH RD SC LIT NNS AVDL QLGC YBTVA SE WAK WFMI NESY)
CO: Standard & Poor's
ST: New York
IN: MLM PUB FIN
-0- May/07/1999 11:08
EOS (PRN) May/07/99 11:08 86
-0- (PRN) May/07/1999 11:23
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