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Joe Stocks

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Joe Stocks

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Wednesday, 11/13/2002 12:30:12 PM

Wednesday, November 13, 2002 12:30:12 PM

Post# of 704019
Sears' (S) MasterCard chargeoffs reached 13.9% in the September quarter, up from 4% in the year-ago 4Q, Goldman Sachs says. "As a result of this trend, Sears may have to increase chargeoffs and reserves more than we have modeled in the past." Goldman downgrades the stock to underperform from in-line and cuts its 2002 estimates by 5 cents a share and its 2003 estimates by 65 cents a share. The firm's estimates for Sears are now $4.80 a share for 2002 and 2003. (GS)


Joe

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