Word: upturn
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Dates: during 1990-1999
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With no hope of even a cyclical upturn in the plain-paper business, Union Camp was shunned by the investors that most influence stock prices: the mutual funds. Before the bid by International Paper, Union Camp was one of only 12 among the 66 industrial companies in the S&P 500 that still traded below its 1987 high--after a decade when that index quadrupled...
Since IMAX went public in June 1994, its stock price has risen from about $6.75 a share to $29 in March before settling at about $22. That makes the company worth around $650 million. The two co-bosses took advantage of that upturn to sell 100,000 shares each recently, but analysts still see IMAX as a coming attraction. "It's a very undervalued company," says senior analyst Steven Bernard at Everen Securities. "We don't think it's well known on Wall Street...
...created nearly 14 million new jobs since 1991 is already the country's third longest on record--and still appears to have legs. With no end in sight, the current recovery could claim the No. 1 spot by the turn of the century. "This is perhaps the best U.S. upturn ever, with superb performance statistics and no obvious excesses anywhere," says Allen Sinai, chief global economist for Primark Decision Economics...
...same day I read your report, I saw a man carrying a hand-lettered sign that read, NEED FOOD WILL WORK. Yes, the beleaguered middle class is benefiting from an economic upturn, but we must never forget that for every Wall Street millionaire producing nothing of lasting value, there's a hungry man at the corner. SCOTT A. DAMON Atlanta...
...earlier expansions, which crashed to earth when the Federal Reserve raised interest rates sharply to cool down an overinflating economy, the 1990s-style growth shows few signs of strain. To the contrary, a rare combination of price stability and moderate gains in the gross domestic product has made this upturn remarkably steady. Many economists say this tranquillity is owing to the Federal Reserve's strategy of tightening credit in the middle of the decade before prices could turn up. "Inflation is the lowest in 30 years, even though we are in the seventh year of an expansion," says Ed Yardeni...