Word: stocking
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Dates: during 2000-2000
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...hands. Anti-smoking forces worry that the Court's decision could weaken the tobacco industry's newfound resolve to voluntarily enhance warning labels on cigarettes and step up efforts to keep minors from smoking. But while Tuesday's ruling is certainly a victory for tobacco - sending Philip Morris's stock through the roof - the triumph could be short-lived, says TIME legal writer Adam Cohen. "The issue of regulation is back in the hands of a very divided Congress," he says, "which is good news as far as the tobacco industry is concerned." But cigarette makers still face a number...
...chief Alan Greenspan cryptically alluded to budding credit problems last week when he cautioned that bad loans get made in good times. But it was just a reminder. There's nothing pervasive out there like the speculative loans tied to real estate and emerging markets that brought bank stocks to their knees in the past. Not that today's economy is without speculation. The Internet certainly fills that void. But banks aren't funding the speculation. The stock market...
Tremendous value is now being created outside of the tech arena--and banks may be the most compelling. "If they're not, my family is way overinvested," quips Tom Johnson, CEO of mortgage lender Greenpoint Financial, whose stock has tumbled 60% and now carries its lowest PE ever, 7. Johnson says the whole sector carries "disaster prices" with no disaster in sight...
...easy play will be a bank stock fund because the whole group will move. If you're worried about missing it, start nibbling soon--but not before the next Fed hike. Stock pickers should look for banks and thrifts in growth regions like the South and West and with diverse income streams. Tom Theurkauf, analyst at Keefe Bruyette Woods, likes Washington Mutual and Fleet Boston. Scott Black, president of Delphi Management, likes North Fork and Peoples Heritage. Among larger banks, Chase and Bank of New York look attractive. But beware banks with operating difficulties, like First Union and Banc...
...Shui-bian began softening his rhetoric on independence from China even before his victory in Saturday's poll, and on Monday he called for peace talks with Beijing, an offer promptly rejected by President Jiang Zemin. The investors who bolted Taiwanese equities Monday, shrinking the value of the Taipei stock market index by 2.5 percent, may have had a savvy read of the long-term implications of the election: Chen's victory defies Beijing's insistence on bringing the "rebel province" back under mainland rule in the near future - a Chinese policy document released in February set a deadline...