Breakfast News: P&G Colors Itself With Clairol ,
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                   B R E A K F A S T   N E W S
                     Monday, May 21, 2001
benjamin.rogers@enron.com
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IN THIS ISSUE
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- TOP STORY: P&G COLORS ITSELF WITH CLAIROL
  http://www.fool.com/m.asp?i=412610

- NEWS TO GO: AT&T, PHARMACIA, AND DISNEY
  http://www.fool.com/m.asp?i=412611

- HOT TOPICS: AMD, APPLE, AND AOL TIME WARNER
  http://www.fool.com/m.asp?i=412612

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-- John Steinbeck

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TOP STORY
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P&G COLORS ITSELF WITH CLAIROL
How big is the hair-coloring business? Judging by the number of
boxes on an average drugstore shelf, pretty big. That notion was
confirmed this morning as consumer products giant and FOOL 50
component Procter & Gamble (NYSE: PG) agreed to by the Clairol
business from Bristol-Myers Squibb (NYSE: BMY).
http://www.fool.com/m.asp?i=412614
http://www.lnksrv.com/m.asp?i=412615

>>FULL STORY:
http://www.fool.com/m.asp?i=412616

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NEWS TO GO
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AT&T (NYSE: T) said Friday that Cox Communications (NYSE: COX)
and Comcast (Nasdaq: CMCSA) will keep their stakes in cable
Internet access company Excite@Home (Nasdaq: ATHM) rather than
sell them. In a remarkable deal, Cox and Comcast will not only
hold on to their shares of the broadband company --
majority-owned by AT&T -- but get more shares of the
telecommunications giant than they originally would have
received in exchange for getting out of Excite@Home. AT&T,
according to reports, stands to get a substantial tax benefit as
a result.

The FDA rejected Pharmacia's (NYSE: PHA) proposed Vestra
antidepressant, already sold elsewhere in the world as Edronax.
While disappointing, the drug's current worldwide sales are only
$100 million, small potatoes by Big Pharma standards. Pharmacia
would nevertheless like complements to its blockbuster Celebrex
arthritis drug, and the company has higher hopes for an FDA
panel's review planned for later this year.

Shrek, the computer-generated feature from privately held
Dreamworks, sent a warning shot across Disney's (NYSE: DIS) bow
this weekend by posting the best-ever opening by a non-sequel
animated feature and the second-best animated opening ever,
according to reports. The movie, which opened at the
second-largest number of theaters of any movie ever, will
(amazingly) be shown in more locations in the coming weeks
despite some theaters running shows at 45-minute intervals. As
someone who saw it, well, let's just say it's one for the
kiddies.

Insurer MetLife (NYSE: MET) Friday filed with the SEC to sell up
to $4 billion in common and preferred stock -- as well as other
forms of securities -- to fund operations. Todd Lebor took a
closer look at MetLife in a February column.
http://www.fool.com/m.asp?i=412617

Federated Department Stores (NYSE: FD) said its board OK'd a
$500 million boost to its stock buyback plan, which had $250
million in authorized repurchases remaining. Federated could buy
the shares on the open market or through other transactions. In
other company news, Chairman and CEO James Zimmerman said Friday
that Federated was not one of the companies interested in buying
Brooks Brothers, as was reported in The London Times.

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HOT TOPICS
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AMD GETS SOME RAVES
Some developers are feeling chipper about AMD's Athlon, and
Fools are offering their opinions.
http://www.fool.com/m.asp?i=412618

WHY SHOULD DELL FEAR AND RESPECT APPLE?
Fool Standabove says Dell should watch out: Apple is "constantly
raising the bar and redefining the rules."
http://www.fool.com/m.asp?i=412619

COULD AOL SAY, "WELCOME! YOU'VE GOT A NEW OS"?
AOL Fools discuss the rumors of AOL entering the OS market, and
question whether the company could compete against the industry
giants.
http://www.fool.com/m.asp?i=412620

>>MORE HOT TOPICS
http://www.fool.com/m.asp?i=412621

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MsgId: msg-13090-2001-05-21_9-10-28-3302854_2_Plain_MessageAddress.msg-09:22:47(5-21-2001)
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