Word: analysts
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During the skit, a student portraying a PriceWaterhouseCoopers analyst telephoned an apparel manufacturer and asked if there are abuses in the factories...
...much as you think. (And for a few wobbly days early last week, he was right.) Wetherell and his ilk are now seeking to show Diller the door. "He's Barry Diller, he's famous, he's a great dealmaker, but he may have overstepped," says Joe Butt, senior analyst at Forrester Research...
After the NASDAQ dropped 5.6% on Monday, wounded highflyers regained their strength for the umpteenth time. "Tech and Internet enthusiasts are hard to keep down," observes Byron Wien, analyst at Morgan Stanley Dean Witter. So AOL, which went from $167 to $116 in a blink, was quickly back at $146. Amazon.com poster child for Internet speculation, shot from $184 to $159 to--gads!--$210. With lightning speed the reversal was reversed, and what had been shaping up as a seismic shift in the market turned out to be just a sneeze...
...rotation and stayed strong even as investors returned to their Internet darlings. This broadening, if it persists, comes with great risk. Rarely does a major shift in investor thinking arrive without a dose of market pain. "Most of the Internet stocks have made their highs," declares Dick McCabe, market analyst at Merrill Lynch. He believes the industrial stocks will re-emerge as market leaders later this spring, following a wide pullback. If he's right, the fuddy-duddies may at last celebrate for a good long while--if, that is, by then they haven't joined everyone else and plunked...
NATO remains flummoxed by the limp Serbian air defense. The Pentagon suggests it signifies allied success in taking down the Serbian air-defenses, by attacks, jamming and corrupting data, which the allies have fed into Yugoslav computers through microwave transmissions. Pentagon analyst Franklin Spinney says Serbia's plan echoes its World War II tactics. The Germans sent 700,000 troops into Serbia but were unable to root Serbian partisans out despite four years of fierce fighting. "The Serbs are using their air-defense system as a quasi guerrilla force to capture the attention and distract the focus of NATO...