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B R E A K F A S T W I T H T H E F O O L Tuesday, November 7, 2000 benjamin.rogers@enron.com _________________________________________________________________ REGISTER TO BECOME A FOOL -- GET FREE STUFF! http://www.fool.com/m.asp?i=184232 _________________________________________________________________ Sponsored By: BUYandHOLD Hey Fool! Want to know the SECRET to long-term investing? Compounding and dollar-cost averaging! Start investing with as little as $20! Just $2.99 per order. http://www.lnksrv.com/m.asp?i=184233 "Politics is supposed to be the second-oldest profession. I have come to realize that it bears a very close resemblance to the first." -- Ronald Reagan ADOBE SWEET ADOBE The publishing giant sees higher margins ahead. Solid 2001 in store? By Rick Aristotle Munarriz When is less, more? For publishing software leader Adobe (Nasdaq: ADBE) it means growing operating profits next year by scaling back on research and development. The company announced its guidance at yesterday's 2000 Fall Financial Analyst Meeting. The logic may seem absurd in this era of perpetual obsolescence. The failure to plant seeds today means less of a harvest to reap tomorrow. But Adobe feels that it can still seize the future by trimming research expenditures from 20% to just 19% of projected sales. "Our R&D investment is larger than the annual revenues of most of our competitors, and we do think that gives us a competitive advantage," Adobe President Bruce Chizen told Fool analyst Zeke Ashton back in September. So even if the company does hold back on research, it should still remain ahead of the pack. http://www.fool.com/m.asp?i=184234 Like hue-tinkering on Adobe Photoshop, it appears that the prospects are brighter than the 20% growth analysts were projecting. The company expects revenue growth of at least 25% next year. With operating margins now set to climb from 31% to 32%, estimates are now poised to be revised about a dime above the $2.56 consensus. In the meeting -- which ran just over two hours long -- the company shared its enthusiasm over its role in the new economy. Adobe has gone from a leader in the realm of desktop publishing for print media to serving as the software backbone for online and network publishing. Its ePaper Solutions segment is expected to provide a 65% growth spurt in sales next year. That's a stark contrast to the print publishing side. There the company is looking for just a 10% hike in revenue. Adobe has always known how to touch up a picture, and this horizon seems to have a crusty glow. http://www.lnksrv.com/m.asp?i=184235 _________________________________________________________________ NEWS TO GO It's election day. Time to voice your vote. Like, what matters more, the top or the bottom line? VoiceStream Wireless (Nasdaq: VSTR) reported revenue of $562.2 million, well ahead of analyst expectations and 317% higher than last year's $134.9 million showing. Strong subscriber growth led the way. But bloated expenses found the company also producing a much wider loss than was projected. The company is in the process of being acquired by Germany's Deutsche Telekom (NYSE: DT). Knocking chips off the global building blocks, two sources abroad warned of lower chip prices earlier today. First it was Douglas Lee, an executive director at Goldman Sachs in Asia, predicting that DRAM prices will continue to fall well into next year. Then Germany's largest semiconductor maker, Infineon Technologies (NYSE: IFX), warned of weaker demand and consequently lower prices in its memory business during the current quarter. However, Infineon reported a strong close to its fiscal year and maintains a positive outlook through the next three years thanks to growth in other high-margin businesses. General Electric (NYSE: GE)? No. Not quite. But Dollar General (NYSE: DG) and Emerson Electric (NYSE: EMR) reported earnings this morning. Both companies held their ground with results that were in-line with analyst expectations. Casino gaming equipment maker International Game Technology (NYSE: IGT) has beaten the house. The company trumped the quarterly estimate of $0.63 a share by reporting earnings of $0.66 before charges. The strong hand was there for the taking. All one had to do is count cards. Two weeks ago Anchor Gaming (Nasdaq: SLOT) also topped projections on the hot demand for its video gaming machines themed to television shows such as Jeopardy! and I Dream of Jeanie. Those devices are being rolled out as a joint venture involving both companies. How popular are IGT's slots and video-gaming machines? The company topped the billion-dollar mark in revenue this year. Check out yesterday's Foolish market wrap-up with just one click. http://www.fool.com/m.asp?i=184236 _________________________________________________________________ EDITORS' PICK Check out the top five dot-com-themed games we'd like to play. http://www.fool.com/m.asp?i=184237 _______________________________________________________________ -News & Commentary http://www.fool.com/m.asp?i=184238 -Fool Community http://www.fool.com/m.asp?i=184239 -Post of the Day http://www.fool.com/m.asp?i=184240 -Latest Fribble http://www.fool.com/m.asp?i=184241 -Latest Market Numbers http://www.fool.com/m.asp?i=184242 ____________________________________________________________ My Portfolio: http://www.fool.com/m.asp?i=184243 My Discussion Boards: http://www.fool.com/m.asp?i=184244 My Fool: http://www.fool.com/m.asp?i=184245 Fool.com Home: http://www.fool.com/m.asp?i=184246 My E-Mail Settings: http://www.fool.com/m.asp?i=184247 Sponsored By: BUYandHOLD Hey Fool! Want to know the SECRET to long-term investing? Compounding and dollar-cost averaging! Start investing with as little as $20! Just $2.99 per order. http://www.lnksrv.com/m.asp?i=184248 FREE BOOK, JUST FOR FOOLS! Investor's Business Daily will send you a free copy of 24 Essential Lessons for Investment Success when you sign up for a free trial subscription of their newspaper. http://www.lnksrv.com/m.asp?i=184249 NEW! EMC THIRD-QUARTER UPDATE The company continues to see incredible growth. Find out what lies ahead with Motley Fool Research. http://www.lnksrv.com/m.asp?i=184250 FOOL DIRECT E-MAIL SERVICES Need to change your address or unsubscribe? You can also temporarily suspend mail delivery. Click here: http://www.fool.com/community/freemail/freemaillogin.asp?email=benjamin.rogers @enron.com< Have ideas about how we can improve the Fool Direct or new e-mail products you'd like to see? Try our discussion board: http://www.fool.com/m.asp?i=184251 ____________________________________________________ © Copyright 2000, The Motley Fool. All rights reserved. This material is for personal use only. Republication and redissemination, including posting to news groups, is expressly prohibited without the prior written consent of The Motley Fool. . MsgId: msg-18332-2000-11-07_9-00-53-3245346_2_Plain_MessageAddress.msg-09:06:06(11-07 -2000) X-Version: mailer-sender-master,v 1.84 X-Version: mailer-sender-daemon,v 1.84 Message-Recipient: benjamin.rogers@enron.com
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