======================== THE MOTLEY FOOL ========================
                   B R E A K F A S T   N E W S
                   Wednesday, October 17, 2001
benjamin.rogers@enron.com
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IN THIS ISSUE
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- TOP STORY: AOL's Pleasant Surprise
  http://www.fool.com/m.asp?i=519457

- NEWS TO GO: Intel, IBM, and Citigroup
  http://www.fool.com/m.asp?i=519458

- POST OF THE DAY: AMD - More Hammer Details
  http://www.fool.com/m.asp?i=519459

=================================================================

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"Money is something you got to make in case you don't die." --
Max Asnas

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TOP STORY
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AOL'S PLEASANT SURPRISE
Media giant AOL Time Warner (NYSE: AOL), who brought America
extensive commercial-free coverage of September 11, reported its
third-quarter earnings today, and they weren't the disaster
everyone expected. Revenue hit $9.32 billion, 6.4% ahead of last
year's pro forma $8.76 billion. Analysts had been expecting
$9.14 billion, following AOL's warning on September 25 that
revenue would only grow 5-7%.

>>FULL STORY: http://www.fool.com/m.asp?i=519461

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NEWS TO GO
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Who says October is bad for stocks? Earnings releases from tech
bellwethers Intel (Nasdaq: INTC) and IBM (NYSE: IBM) are
expected to lead the markets higher today. Chip manufacturer
Intel last night reported that third-quarter revenue dropped 25%
and net income dropped 96%. However, earnings met Wall Street's
estimates of $0.10 a share. IBM did Intel one better by beating
the Streets expectations by a penny. Like Intel, IBM's
third-quarter revenue and earnings were also down, but by just
6% and 19%, respectively.

Earnings season is in full swing again. (Have you bought
earnings seasons gifts for your loved ones yet?

Time is running out!) Here's a rundown of some of the other
major companies and how they fared:

--International Paper (NYSE: IP) handily topped estimates of
  $0.05 per share, reporting earnings of $0.14. That reflects earnings for the
  third quarter of 2001 of $68 million, compared to $260 million a
  year ago.

--Pfizer (NYSE: PFE) reported third-quarter earnings of $0.34
  per share, a penny ahead of analyst estimates. The company expects double-digit
  revenue growth in 2002.

--Ford (NYSE: F), the world's No. 2 automaker, lost as much as
  analysts were expecting. Not counting charges and gains, the company lost
  $0.28 per share, compared to a profit of $0.50 in the year-ago
  period. Revenue was down 9% over the past 12 months.

--Citigroup (NYSE: C) met its lowered expectations, earning
  $0.63 per share, compared with a gain of $0.68 a year ago. The company expects
  its next quarter's earnings to grow by 15%.

--Data storage company EMC (NYSE: EMC) reported its first loss
  in some 12 years, losing nearly a billion dollars in the third quarter, compared
  to a half-billion-dollar gain a year ago.

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POST OF THE DAY
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AMD - MORE HAMMER DETAILS
"I know it sounds ridiculous, but here is the bind that Intel is
in. If vendors see a strong consumer preference for Tualatin
over the Willamette, the Pentium 4 will be seen as a failure. If
the supply chain sees the Pentium 4 as a failure they won't
rush--heck they won't even crawl--to support the socket 478 platform,
in particular the SDRAM and DDR versions of Brookdale. Once Northwood
is shipping in quantity, and Intel has enough 0.13 micron fab capacity,
then Intel can afford to hype Tualatin. But that point is six months
to a year away."

>>FULL POST: http://www.fool.com/m.asp?i=519462

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