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Enron Mail |
Shirley,
I think it's a growing problem of junk mail that is being sent indiscriminately to everybody. Sometimes it comes from legitimate institutions, sometimes it represents scams. I got a message today about diamonds in Sierra Leone. Vince Shirley Crenshaw 01/02/2001 08:16 AM To: Vince J Kaminski/HOU/ECT@ECT cc: Subject: Market Vince: Do you know who this is? I have been getting this, but don't know why or who he is. Does it sound reputable? ---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 01/02/2001 08:09 AM --------------------------- "Newton, Jeremy C (SUGARCREEK XGH 317)" <JCNewton@pclient.ml.com< on 12/29/2000 01:40:02 PM To: "'shirley.crenshaw@enron.com'" <shirley.crenshaw@enron.com< cc: Subject: Market 12/28/00 The markets finally took a breather, as the light volume seemed to indicate the tax loss season was mostly over, and investors were enjoying their holidays and trying to forget a bad year for the markets. The week was pretty god, with perhaps some last minute tax selling on Friday. It will be interesting to see how next week fares. I think tech will continue to suffer through the first half of the year. The earnings are not likely to improve until sometime in the second half. At that point, year to year comparisons will be more favorable. There will be some successes, as so many have been beaten down too far. Energy looks strong right now, but I would be cautious as we get past the winter and the gas price comes down to a more reasonable level. Merrill Lynch now predicts fed cuts of 100 basis points by the end of the summer. These cuts will create a strong emotional push to the market, even in the face of lower earnings. Merrill Lynch is also predicting a GDP growth of 2.9%, down from the previous forecast of 3.3%. This certainly would qualify as a "rough" if not "hard" landing. They expect the GDP growth in the second half of 2001 to rise at a 3.5%-4% rate. They predict the strongest earnings to come from Health and Energy at about 14%, with Tech and Utilities at 10%. Some of the market weakness and economy concern could stem from the statements being made by the new Bush administration. They want to be sure the public is aware of the slowing economy, so the issue will be seen as one they inherited, not created. They don't want to be seen as the ones who messed up the great boom. They also want justification for the tax cut plan they had proposed, and a weaker economy is certainly a good reason to stimulate the economy with cuts. There are a number of tax law changes for 2001. The new capital gains rates for investments held over five years begins- the new rates are 8% and 18% versus 10% & 20%. The deductible interest on student loans rises from $2000 to $2500. The rate for auto business miles is rising from 32.5 cents/mile to 34.5. The expense deduction for business equipment in the first year rises from $20k to $24k. The exemption on unearned in come for children has been raised to $750, from $700. The second $750 in income is taxed at the child's rate, up from $700. So now there is $1500 of preferential taxation for kids under 14, up from $1400. For kids 14 and older, they now have $750 tax-free. On the negative side, social security taxes will be assessed on the first $80,400 of income, up from $76,200 this year. Upcoming Splits January 17 Idec Pharm IDPH 3 for 1 FOMC Schedule January 20-21 March 20 May 15 Upcoming Seminars January 10 in Rm. 5C2 Thanks & Regards Mike Lee Jeremy Newton Merrill Lynch Merrill Lynch 281-243-9337 281243-9328 Mike_Lee@ml.com Jeremy_Newton@ml.com Past Performance is no guarantee of future results shirley.crenshaw@enron.com Investment Risk Rating: A = Low, B = Average, C =Above Average, D =High Investment Opinion: First Number = Intermediate Term (0-12 months) Appreciation Potential Second Number = Long Term (More than a year) Appreciation Potential (Recommendations are: 1=Buy; 2=Accumulate; 3=Neutral; 4=Reduce; 5=Sell; 6=No Rating) Third Number = Income Rating -Expected dividend in relation to current payment. (Ratings are: 7=Same/Higher; 8=Same/Lower; 9=No Cash Dividend Paid) Consensus Recommendation 1=Buy, 3=Hold, 5=Sell (1.5 or less coded GREEN,2 or more RED) Additional Color Coding PE over 50 is coded RED PEG of 1.4 or less is coded GREEN. PEG of 2.5 or greater is coded RED. If the stock is under it's 50 day avg, it is coded Green. If it is more than 20% over, it is coded RED. Earnings upgrade are coded GREEN, Earnings downgrades are RED. If all columns GREEN or BLACK, Company Name will be GREEN. Past Performance is no guarantee of future results ____________________________________________________________ CAUTION: Electronic mail sent through the Internet is not secure and could be intercepted by a third party. For your protection, avoid sending identifying information, such as account, Social Security or card numbers to us or others. Further, do not send time-sensitive, action-oriented messages, such as transaction orders, fund transfer instructions, or check stop payments, as it is our policy not to accept such items electronicall
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