Word: stocking
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Dates: during 2000-2000
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...likely is such a correction? The board didn't foresee its happening soon, but members didn't rule it out. Nor did they see a major slippage in stock markets as the end of the world economy. A slide of 35% in the value of the New York Stock Exchange would surely wipe out the U.S. "wealth effect" and decimate public confidence. But, Courtis argued, the fundamental transformations brought about by globalization and the Internet would provide a foundation for another boom. Besides, as Hormats put it, "investors have a greater sense of confidence that when the markets go down...
...commercialization of the Internet. After all, our phantom had managed to interrupt one of Wall Street's sacred rituals: the dotcom IPO of Buy.com which was hit by a DOS attack on Tuesday afternoon, before the end of its first day as a publicly traded company. The stock had reached a peak of $30.25, then closed at an unspectacular $25.12. Just when Buy.com chief executive Gregory Hawkins should have been popping champagne corks, he was hunkering down in an emergency session with his techies. "I'm not going to kid you," says Hawkins. "My stomach did drop." That sinking-stock...
...actor who comes to the screen in youth is like an IPO; audiences invest themselves in his future. After Titanic, the DiCaprio stock was goofily inflated. In the wake of The Beach, it may dip. But we should not confuse the achievement of an actor--especially one as daring, engaging and resourceful as DiCaprio--with the popularity or even success of any one film. He and we are in it for the long run. It ought to be an adventure, following the Kid on a career-long journey in search of his best or most dangerous self...
Given that this industry seems a court case away from incineration, the choice seems almost masochistic. Forget your wife on Valentine's Day, and you'd still be more popular than a tobacco stock. That's why the stock (MO) has fallen from $60 to $20 in just over a year. Consider: the company's huge, profitable and well-regarded Kraft food division would trade higher than that if it were standing alone. Yet Philip Morris' earnings are on track, and the dividend yield is a mind-boggling 9.7%. Normally, a yield that high suggests the dividend...
...problem, as we all know, is that cigarettes are killers. Many people avoid the stock on moral grounds, opting for such high-performing angels as Citizens Index Fund or Domini Social Equity Fund. Others shun it because they figure the industry is doomed. Last week lawyers hit Big Tobacco with a price-fixing suit. Next month a Florida jury could find the industry liable for damages of $100 billion or so in a class-action case. (Even if the case survives appeal, though no money will change hands for at least a decade.) It's highly unlikely, but possible, that...