Word: harnett
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Dates: during 2003-2003
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...industrial cyclicals with relatively little foreign exposure, like Alcoa (12% foreign earnings) and Weyerhauser (16%). In Europe focus on multinational consumer-goods firms--Glaxo, Heineken, Novartis, Unilever--because they get a lot of revenue from their U.S. operations and would not suffer much from a currency reversal, says Ian Harnett, chief European-market strategist for UBS Warburg. Firms that rely heavily on sales in Europe will remain weak with the Continental economy. "European companies have not managed to restructure and shed costs as rapidly as those in the U.S.," Harnett notes...