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Foxlette

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Foxlette

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Re: Slipstick Libby post# 33

Monday, 05/13/2002 9:15:18 AM

Monday, May 13, 2002 9:15:18 AM

Post# of 56
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8:50AM: The pre-market tone remains favorable with the S&P 500 currently trading 5.4 points above fair value while the Nasdaq 100 PMI is up 10.29 points. Sears (S) is in the news this morning with the announcement that they have entered into a definitive agreement to acquire Lands End (LE) for $62 per share in cash, or approximately. $1.9 bln. The transaction is expected to be slightly dilutive to break-even in 2002 and 2003 and significantly accretive in 2004. Sears says the transaction does not alter its outlook for the year. Out of Barron's: positive comments on CCU and AEP with a fund manager favorable on CYTC, ITRI, JDEC, FDP, SNDK. No economic data due to be released today.



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