======================== THE MOTLEY FOOL ========================
                    B R E A K F A S T   N E W S
                   Wednesday, September 19, 2001
benjamin.rogers@enron.com
=================================================================

IN THIS ISSUE
---------------------
- TOP STORY: Boeing to Cut Workforce
  http://www.fool.com/m.asp?i=497743

- NEWS TO GO: Airline aid, Honeywell, and Priceline
  http://www.fool.com/m.asp?i=497744

- POST OF THE DAY: Intel-Rambus New Contract
  http://www.fool.com/m.asp?i=497745

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out where to send food, where to donate blood, where to give
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President George W. Bush


-----------------------------------------------------------------
TOP STORY
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BOEING TO CUT WORKFORCE
Boeing (NYSE: BA), the world's largest manufacturer of
commercial jet aircraft, announced late last night that it would
reduce employment by 20,000 to 30,000 by the end of 2002, 10% to
15% of its workforce.

>>FULL STORY:
http://www.fool.com/m.asp?i=497747

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NEWS TO GO
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Congress and the Bush Administration continue discussions with
airlines over a possible aid package. There are published
reports that the President supports a $2.5 billion cash package
-- half the airlines' $5 billion cash request -- to assist the
airlines with lost revenues from the forced grounding of planes,
in addition to loans and loan guarantees. Both the executive and
legislative branches reportedly want to provide aid that
recognizes the airlines' role in last week's tragedies, but does
not assist them in revenue issues associated with the worsening
economy. A difficult task, to be sure.

Large pharmaceutical company Bristol-Myers Squibb (NYSE: BMY)
reportedly will pay $1 billion for a 19.9% (okay, call it 20%!)
stake in biotech cancer drug maker ImClone Systems (Nasdaq:
IMCL). The deal would value ImClone at $70 a share, a 40%
premium over yesterday's $50.01 close, and earn Bristol-Myers
U.S. and Canadian marketing rights to ImClone's proposed
monoclonal antibody cancer drug, IMC-C225, now pending Food &
Drug Administration approval for colorectal cancer, and in
trials for other cancers.

Honeywell (NYSE: HON) said that its Q3 earnings would fall below
previous estimates. The large manufacturer projected EPS of
$0.43 to $0.45, below Wall Street's $0.53 consensus. The company
also said that while its commercial aviation business provides
15% of its revenue, Honeywell remains well diversified and able
to weather a downturn in the aviation portion of its operations.

Shares of global telecom giant Cable & Wireless (NYSE: CWP)
slumped up to 12% this morning in European trading in response
to the company's warning that its first-half revenue dropped as
much as 5%. The company cited pricing pressure in voice and data
services, adding that it expected revenue for the second half of
the year to be off a similar 5%. Shares closed in the U.S.
yesterday up $0.25 to $14.06, on the low end of their 52-week
range of $13.45 to $45.63. Motley Fool telecom guru Bill Mann
covers the company regularly.
http://www.fool.com/m.asp?i=497748

In other earnings news, Eastman Kodak (NYSE: EK) reduced its Q3
EPS forecast from $0.90-$1.20 to $0.65, Linux software vendor
Red Hat (Nasdaq: RHAT) reported a Q2 loss of $0.33 versus last
year's $0.12, and Miracle-Gro maker The Scotts Company (NYSE:
SMG) lowered FY 2001 EPS projections from $2.33-$2.63 to
$2.00-$2.15.

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POST OF THE DAY
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INTEL-RAMBUS NEW CONTRACT
"Any remaining tatters of a "special" Rambus-Intel relationship
seem dead. Intel will no longer have a big potential stake in
Rambus shares. The agreement probably occurred now because Intel
is preparing to roll out the Brookdale, which will support both
SDRAM and DDR."

>>FULL POST:
http://www.fool.com/m.asp?i=497749

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