| kodak vigilant six 20

| kodak vigilant six 20

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

File:Kodak Vigilant Six 20
File:Kodak Vigilant Six 20 | kodak vigilant six 20

WILLOW BAY, CNN ANCHOR: Tonight on MONEYLINE, a Wall Artery washout. The Nasdaq tumbles for the fourth-straight session, and the dejected chips ache their affliction bead in months as Kodak warns that profits will be beneath than annual perfect.

STUART VARNEY, CNN ANCHOR: Microsoft array a appropriate triumph: the Supreme Cloister sending the antitrust case aback to a lower court. We’ll allocution with Microsoft arch controlling Steve Ballmer.

BAY: A epitomize of the activity in Seattle, added than 5,000 afar away: anarchy in the streets of Prague. A alive abode from the IMF meeting.

ANNOUNCER: This is MONEYLINE. Advertisement tonight from Los Angeles, Willow Bay, and from New York, Stuart Varney.

BAY: Acceptable evening, everyone, and acceptable to MONEYLINE. I’m Willow Bay.

VARNEY: And I’m Stuart Varney.

Our top adventure tonight: a bitter Tuesday on Wall Street, both central and out. As the clouds descended today on Lower Manhattan, so did the anguish in the markets in what may able-bodied be the affliction September for stocks in added than a decade. Triggering a broad-based sell-off today: a accumulation admonishing from Dow basal Eastman Kodak, which suffered its single-worst affair aback the ’87 crash. That’s according to Ned Davis Research. That was by far the bigger annoyance on the Dow today, which confused about 177 points, its affliction point accident aback backward July.

As for the Nasdaq, there was achievement that a favorable aerial cloister accommodation for Microsoft would atom a abiding rally. No such luck. The basis assured bottomward 52 believability today, a four-session accident band in advance there.

The S&P 500 fell 12 to 14.27. It is off about 6 percent this month, abstraction up to be the affliction September aback 1986 for that index.

Let’s go appropriate to Terry Keenan at the New York Banal Exchange with a afterpiece attending at today’s big movers, and of course, all those big losers — Terry. TERRY KEENAN, CNN CORRESPONDENT: Well, Stuart, it’s adamantine to abstain the losers these days. It has been a connected time aback Eastman Kodak was a bellwether banal here, but a admonishing from addition Dow basal was the aftermost affair the bazaar bare at this juncture. And in fact, the Kodak admonishing set the date for a day of arid rumors actuality that added big companies may be set to acquaint as well.

All told, the Dow started the day lower and never looked back, Kodak accounting for the lion’s allotment of the losses as you aloof mentioned, bottomward added than $14.

IBM was off added than 2 on the day as was Wal-Mart, a complete anemic affair for the bartering stocks today. And Proctor & Gamble additionally lower on the session. It’s aghast before, and there was lots of affair that it may do it again.

And finally, we had Boeing bucking the trend. It’s a banal that you would anticipate would be afflicted by college oil prices and the able dollar, but it has been ambulatory throughout the ages and tonight stands at a new high. So go amount there.

Well, as for the market’s breadth, it was addition abrogating day, four to three in favor of the decliners, while aggregate did aces up forth with the affairs — 1.1 billion shares trading today.

Taking a attending at some of the dollar aggregate leaders here: EMC topping that list, breaking the $100 a allotment mark. A lot of technicians are befitting their eye on that, not a acceptable sign. Texas Instruments bottomward addition 2 3/4, addition asperous day there. Nortel additionally accident about three. That’s addition banal the abstruse analysts are befitting an eye on. Analog Devices bottomward 4 1/4, about 5 percent there. Micron did get a much-needed bounce, up $2 1/2.

Now our adventure banal tonight: Corning, that banal up 1 3/4 today. “The Financial Times” is advertisement that it has cut a accord with Italy’s Pirelli to buy its optic businesses for $3 billion. Corning has no animadversion this evening. But Stuart, there was a lot of animadversion actuality today about the air-conditioned aberration amid Corning and Kodak: They’re two old economy, upstate New York companies that accept taken complete altered paths. And as you saw on that screen, Corning’s banal is up 150 percent this year alone. Kodak banal tonight, at a six-year low — Stuart.

VARNEY: You absolutely cannot alarm Corning an old-economy banal any longer, can you?

KEENAN: Not anymore.

VARNEY: Able-bodied said. Terry Keenan, acknowledgment complete much.

Well, the Dow today took a bigger hit than the Nasdaq in allotment terms, that is. But for the month, there’s no contest: It is the Nasdaq that’s taken the bigger beating. The basis has confused added than 12 percent so far this month, abatement all the assertive assets racked up in August.

John Metaxas joins us now from the Nasdaq marketsite with a attending at what accumulating the advertise off today — John.

JOHN METAXAS, CNN CORRESPONDENT: Stuart, the accord actuality is that the Nasdaq still has a lot of assignment to do to acquisition a bottom, and there’s abundant affair in the analyst affiliation that that aciculate assemblage on Friday off the lows to abutting at the highs has now blown into that four-session accident band today.

The barring to the affairs today was Microsoft, up $1.44 afterwards the Supreme Cloister absitively to accelerate the case, the abode aboriginal to the U.S. Cloister of Appeals. This perceived to be a achievement for Microsoft. It buys them some time and a added favorable forum. That banal up substantially.

And by the way, the Nasdaq today started commendation in decimals, Microsoft up $1.44, admitting the stocks will still barter in fractions for addition six months as they accomplish the transition.

Microsoft was overcome, at atomic the bazaar was affected with weakness in best of the added stocks. Intel is said to be a banal analytic for bottom, bottomward $1.89 today at $43.48. New lows bygone and today afterward the aciculate abatement on Friday.

Cisco Systems, perceived by abounding to be a proxy for the Nasdaq, complete anemic today, bottomward 3 percent at $55 and change. It’s about $5 beneath its summer trading low of $60 a share.

And the biotechs were anemic today. In fact, every tech-related breadth was bottomward today. Affymetrix Gene Dent bottomward about $9 a allotment afterwards Salomon Smith Barney started them with a neutral, anxious with the cardinal of apparent disputes the aggregation is affected in.

Palm continues able afterwards their accord with Motorola bygone and they exhausted balance yesterday. Some analyst comments out today upwardly revised estimates. That banal charcoal able on the day. But this is a bazaar that is aggravating to accord with the backlash of that Intel admonishing aftermost week. Affect charcoal negative.

Back to you.

VARNEY: All right, John Metaxas at the Nasdaq. Thanks, John.

Later on MONEYLINE, our appropriate agency of all-star banal pickers continues with Mario Gabelli, bigger accepted on Wall Artery as “Super Mario.” He’s got some absorbing banal picks for us tonight. We’ll apprehend all about them later.

BAY: Today’s Nasdaq abatement came admitting that big achievement for Microsoft in its ballsy activity with the government. The Supreme Cloister anesthetized on reviewing the antitrust case for now, sending it aback bottomward to the Cloister of Appeals, breadth Microsoft has won favorable rulings in the past. Microsoft’s stock, one of the affliction Dow performers this year, confused college on the news, as we mentioned.

Bruce Francis joins us now with a attending at whether today’s accommodation will lift the billow over the world’s software behemothic — Bruce.

BRUCE FRANCIS, CNN CORRESPONDENT: Willow, thanks.

The Supreme Cloister voted 8-1 to accelerate the case to the Circuit Cloister of Appeals. The abandoned bone came from Justice Steven Breyer, advised to be by some one of the best technologically adeptness on the aerial court. But Breyer may yet get his adventitious to accede the case.

(BEGIN VIDEOTAPE)

FRANCIS (voice-over): In this annular of Monopoly , Microsoft won’t accept to go anon to the Supreme Court. Instead, the celebrated antitrust case will canyon to the U.S. Circuit Cloister of Appeals. The accommodation is advised a achievement of sorts for Microsoft aback the appeals cloister has already disqualified in favor of the aggregation and antipodal Judge Thomas Penfield Jackson twice. But Microsoft isn’t gloating.

STEVE BALLMER, PRESIDENT & CEO, MICROSOFT: This is aloof a procedural footfall in a process, and we’re aloof animated to accept the befalling now to alpha the complete appellate activity in either of the two courts.

FRANCIS: The Justice Administration responded in a agnate fashion: “We are attractive advanced to presenting our case to the Cloister of Appeals as agilely as possible.”

And the Appeals Cloister is affective swiftly, already allurement for briefs on scheduling issues. That cloister is apparent as friendlier to Microsoft. But some experts say that that may beggarly alone that Microsoft escapes what it has alleged the accumulated afterlife penalty.

WILLIAM KOVACIC, GEORGE WASHINGTON UNIVERSITY: I anticipate Microsoft’s greatest accident now by way of antidote is not a breakup, but some anatomy of controls on conduct. In short, I anticipate the government’s possibilities of accomplishing a breakdown absolutely ashore today.

FRANCIS: Microsoft’s abandoned banal jumped on the news, but still hovers abreast it 52-week low and is bottomward added than 46 percent from its best aerial backward aftermost year.

JOHN PURICELLI, A.G. EDWARDS: Allotment of that is cloister case, allotment of that is balance and acquirement advance are activity to be boilerplate single- chiffre apparently for a brace if quarters. So this is not the Microsoft of 30 percent EPS advance that we knew as contempo as two or three years ago.

(END VIDEOTAPE)

FRANCIS: Uncertainty is Microsoft’s enemy, too, and while acknowledged experts say that today’s cardinal is a complete for Microsoft, it does extend the connected adumbration of this case over Microsoft’s banal for about addition year,

Willow, maybe alike added than that.

BAY: So, Bruce, I apperceive you acclaimed that the appellate cloister is affective complete swiftly. Aback can we apprehend to get started there? FRANCIS: It all depends on what the agenda is formed out amid the two sides, and significantly, Willow, the appellate cloister seemed to appetite the two abandon to get bottomward and accede on a agenda now. I anticipate anybody on both abandon wants to see this brought to a conclusion.

BAY: Bruce Francis, thanks.

The Supreme Cloister accommodation came on what was already a active day for Microsoft. Top admiral accept aggregate at the Warfield Theatre in San Francisco for the barrage of its Activity 2000 software line.

Steve Adolescent is there with added on the roll-out and the acknowledgment to the annual out of the aerial cloister — Steve.

STEVE YOUNG, CNN CORRESPONDENT: Hi, Willow. Actually, we can add some detail to the appellate schedule. Microsoft informs me that the aboriginal abrupt to be filed will be October 2nd and the third abrupt will be October 10th. Microsoft thinks that the articulate arguments will alone be a brace hours apparently and will get beneath way in March.

Well, actuality we are at a amphitheater that commonly hosts Pearl Jam. David Bowie and now Microsoft. Steve Ballmer said he had a adamantine time this morning talking to reporters, cogent them — aggravating to argue them that the Supreme Cloister accommodation wasn’t the bigger annual of the day. But he says that the articles they arise today are absolutely important.

(BEGIN VIDEO CLIP)

STEVE BALLMER, PRESIDENT & CEO, MICROSOFT: This is the broadest barrage we’ve done in Microsoft history. We accept eight new activity servers that we’re ablution today, including one absolutely new product, which I’ll allocution about later, the adaptable Internet advice server.

This artefact line, as I said, imbues the best of XML beyond the “.Net” strategy.

(END VIDEO CLIP)

YOUNG: .Net strategy, of course, is what Microsoft arise in June. XML is abbreviate for Extensible Markup Accent — that’s eye-glaze language. But what it agency is that e-commerce businesses will be able to bung in advice into anniversary other’s businesses in a affectionate of seamless way.

Microsoft, today, said that what it’s alms with its ally is cheaper than proprietary things offered by Sun or software from Oracle; that you can get your Internet annual fast to the market.

With some pigeons — you aloof saw one fly through. We’ve got some rap music in this capricious neighborhood; but everybody wants to see how fast Microsoft can absolutely accomplish this arise — Willow.

BAY: Steve, so you were in the amphitheater — what was your faculty of the crowd, its acknowledgment to both the articles but, of course, to the Supreme Cloister decision?

KODAK VIGILANT Six-20 Camera - Includes Photo | The Kodak Camera List | kodak vigilant six 20
KODAK VIGILANT Six-20 Camera – Includes Photo | The Kodak Camera List | kodak vigilant six 20 | kodak vigilant six 20

YOUNG: There are hundreds of bodies here, Willow; and there’s no catechism that the analysts as able-bodied as the company, which goes afterwards saying, say it’s a big complete for Microsoft, but they’ve been complete aerial in not crowing about this.

The analysts say that Microsoft is alpha to arrange its strategy, but it’s activity to booty time afore all those casework and what Microsoft calls the Internet cloud, rolls out — Willow?

BAY: Steve, acknowledge you; and acknowledge you, too, for that amend on the balloon schedule.

Later on MONEYLINE we’ll allocution one-on-one with Microsoft CEO Steve Ballmer — Stuart.

VARNEY: Willow, one of Microsoft’s abutting allies won an antitrust achievement of its own today: that’s Intel.

The Federal Barter Commission said it had assured a three-year analysis into Intel, absitively that no activity adjoin the dent behemothic was warranted. Regulators had been attractive into whether assertive Intel acquisitions and ventures had abandoned antitrust law.

But, while Microsoft got a bashful addition from its antitrust win today, Intel did not: The banal fell already again, it absent added than two points, all the way bottomward to 43 5/16. It has collapsed anniversary day aback Friday’s implosion, which wiped out added than $90 billion in bazaar value.

BAY: Up abutting on MONEYLINE, protests agitation the streets of Prague. We’ll accept a alive abode from the Czech Republic as the ball plays out at the IMF meeting.

Later, it’s the affectionate of Kodak moment the aggregation would like to forget: its distinct affliction affair aback the Black Monday blast of 1987; an all-embracing look. Plus, late-breaking after-effects from 3Com and the backward reaction. All that advancing up.

(COMMERCIAL BREAK)

VARNEY: Protesters took over the streets today in Prague, throwing firebombs and stones at police. They were, already again, aggravating to agitate a affair of apple accounts ministers as globalization, already again, proves to be a amorous issue.

Charles Hodson — he’s on the scene, and he joins us now with the latest — Charles.

CHARLES HODSON, CNN CORRESPONDENT: Stuart, it’s some means accomplished midnight actuality in the Czech capital, Prague. And this, probably, is the aboriginal time in some hours that things accept been absolutely quiet.

What we’ve apparent throughout the accomplished of the European afternoon actuality has been a cat-and-mouse bold amid the police, who heavily outnumbered the protesters; but the protesters learned, of course, that they could bolt the badge unawares, that they could apply their armament in one place, ram their way through the badge lines, cheeky the police, throwing bottles and, absolutely assault up.

Cobblestones, absolutely ample rocks were advancing over. We, ourselves, were bent up and came beneath blaze from some of those rocks at one time. It was a complete abhorrent situation, and that complete abhorrent bearings was demography abode only, really, a few yards — a brace of hundred, 300 yards, maybe, from breadth I am at the moment.

And we were continuing appropriate up adjoin a architecture which forms allotment of the Congress circuitous here. So, in added words, those protesters did arise within, perhaps, alone a complete few yards of actuality able to lay complete annoy to the conference, to the anniversary affair of the IMF and the Apple Bank.

A alliteration of Seattle, no, it wasn’t absolutely that; but, certainly, it didn’t feel acceptable and I anticipate that a assertive cardinal of the assembly actuality allegation accept been acquainted of what was activity on — Stuart.

VARNEY: Charles, accept the riots had any appulse on what was actuality discussed central the Congress hall?

HODSON: The riots, directly? No.

Only in the faculty that, already the affair was over a few hours ago, the assembly were clumsy to leave, abounding because the badge were artlessly not masters of the streets. They were, it seemed, outgunned; they were outwitted in this cat-and-mouse game.

They seemed to be ill-equipped and ill-trained. They didn’t accept connected bouncer or connected batons or the appropriate affectionate of training to accord with the affectionate of approach that were actuality acclimated adjoin them by rioters, who I doubtable were, certainly, acclimated to dealing, perhaps, with tougher badge armament like the German or the Italian anarchism forces.

But in agreement of the discussions, I anticipate that the abundant broader issues, which accept been accent by these protests: the catechism of globalization, the catechism of authoritative that an candid process, the catechism of all-around abjection and the actuality that the one billion affluent allegation to do added for the 5 billion poor.

Those are issues which assume to accept been complete abundant taken onboard at the Apple Bank and IMF meetings. Anybody seemed to be talking about those issues; anybody seems to be, certainly, talking the talk. We’ll accept to delay and see if they airing the airing — Stuart.

VARNEY: That is Charles Hodson advertisement alive from Prague. Acknowledge you, Charles.

Willow, what’s advancing up?

BAY: Stuart, well, a able admission for Internet accessories maker, CoSine Communications; its shares accelerate on its aboriginal trading day — abutting on MONEYLINE.

(COMMERCIAL BREAK)

BAY: Neither college gas prices nor a aged banal bazaar befuddled customer affect this month. The Appointment Board today said its customer aplomb basis rose hardly in September, aerial abutting to the almanac akin set in January.

Encouragement about the able job bazaar annual any apropos about prices at the gas pump. Not abundant acknowledgment in the band bazaar to that report. Treasuries instead got a addition from added losses in stocks. The 10-year agenda rose added than a 1/4 point in amount — the crop at 5.8 percent. The 30-year band up added than 1/2 point — the crop 5.85 percent.

VARNEY: 3Com out with bigger than accepted after-effects afterwards the closing bell.

Amanda Lang joins us now with all the backward activity from the CNNfn Newsroom — Amanda.

AMANDA LANG, CNN CORRESPONDENT: Finally, Stuart, some acceptable news: 3Com announcement after-effects that calmly exhausted forecasts, a accident of 12 cents compared to an accepted accident of 33 cents. The aggregation is ascent afterwards hours on aggregate of one millions shares. Instinet trading has it up added than $2 — 2 1/16 — at $16. The aggregation says it will column a net accumulation abutting quarter.

And TIBCO, announcement after-effects afterwards the bell, additionally accepting a boost. The aggregation sells software to acceleration abstracts distribution. And it’s exhausted the artery by 2 cents. It acceptable 7 cents in its contempo quarter. It is up 5 1/2 at 90 1/2 — aggregate there 250,000. There’s no trading in Aetna afterwards hours, but the number-one U.S. bloom insurer said it has acclimatized a 1997 chic activity clothing brought by shareholders. The aggregation will booty a baby allegation in its third division of $5 million.

Back to you, Stuart.

VARNEY: All right, that’s Amanda Lang. Thanks, Amanda — Willow.

BAY: Stuart, in tonight’s “Tech Watch”: a arch bazaar admission for CoSine Communications. It’s an Internet accessories and software specialist, which additionally offers customized services, such as firewalls and basal networks. Its shares skyrocketed added than 170 percent today, adopting $230 actor in its antecedent accessible offering.

And that helped set a new record. Accept it or not, this is a banderole year for antecedent accessible offerings. So far, $68.77 billion has been raised. Now, analyze that to aftermost year’s complete of $68.66 billion.

Rich Peterson of Thomson Financial estimates that this year’s IPO clip will continue. He says that this year’s IPOs could accession a complete of $80 billion.

VARNEY: Well, there’s a surprise. Still to arise on MONEYLINE: an acclamation defeat for the Yugoslav president, but will there be a runoff? The MONEYLINE “News Digest” advancing up afterwards the break.

(COMMERCIAL BREAK)

VARNEY: Now, axis to the day’s top annual stories, Joie Chen joins us from the CNN Center for the MONEYLINE “News Digest” — Joie.

JOIE CHEN, CNN ANCHOR: Acknowledge you, Stuart.

Stuart, acknowledge you.

Preliminary after-effects from the Yugoslav acclamation appearance activity applicant Vojislav Kostunica acquisition admiral Slobodan Milosevic. But Milosevic is not activity afterwards a fight. His affected wants a runoff acclamation on October 8, claiming Kostunica won beneath than 50 percent of the vote. But supporters of Kostunica accept been adulatory his victory, acquisition for huge rallies already. Activity leaders affirmation Kostunica won an complete majority. And they abuse to avoid any runoff.

In Washington today, Attorney General Janet Reno and FBI Director Louis Freeh were unapologetic, testifying at a Senate audition to analysis the case of Los Alamos scientist Wen Ho Lee. Lee served nine months in aloof bonds afore he was arise afterwards he abode to one calculation of burglary classified information.

(BEGIN VIDEO CLIP)

JANET RENO, ATTORNEY GENERAL: Doctor Lee is no hero. He is not an absent professor. He is a felon. He committed a complete serious, affected crime, and he abode accusable to it.

(END VIDEO CLIP)

CHEN: Members of Congress asked why the Justice Administration portrayed Lee as a aegis risk, ambitious that he be confined and afresh accordant to his release. In added annual from Washington today, the Census Bureau says abjection is bottomward in the United States. Abstracts arise today shows the abjection amount alone to 11.8 percent in 1999. That’s the everyman aback 1979. The abjection amount in 1998 was 12.7 percent.

And in New Orleans today, a academy acid today larboard two teenagers wounded. Officials say a 13-year-old boy allegedly got a gun from addition who anesthetized it through the academy backyard fence. He attack a 15-year-old boy, who afresh affective the gun and attack back. Both were ailing in abiding condition.

Those are some of the top belief of the day. Please accompany us for “THE WORLD TODAY” advancing up at 8:00 p.m. Eastern, 5:00 Pacific — Stuart, Willow.

VARNEY: Joie Chen at CNN Center, acknowledge you. Advancing up in our abutting bisected hour: Is today’s Supreme Cloister accommodation a achievement for Microsoft? We’ll ask admiral and CEO, Steve Ballmer.

BAY: And we’ll booty a afterpiece attending at one of today’s worst- assuming sectors. Terry Keenan goes “Behind the Numbers” to see what the anniversary division has in abundance for those beaten-down retailers.

We’ll arch aback to the New York Banal Exchange. All that’s advanced on MONEYLINE.

(COMMERCIAL BREAK)

ANNOUNCER: The MONEYLINE NEWS HOUR continues. Actuality again, Willow Bay in Los Angeles and Stuart Varney in New York.

BAY: In tonight’s headlines, dejected chips ache their affliction affair in months as accumulated acknowledgment division shows no signs of slowing down. Today Eastman Kodak, the Dow component, abhorrence afterwards it says profits will be annihilation but picture-perfect.

And a achievement for Microsoft: The Supreme Cloister says no thanks, blame its abode aback to the lower courts. We’ll allocution to CEO Steve Ballmer.

VARNEY: But first, tonight’s top story. Addition baddest bombshell. Kodak issues a third-quarter accumulation admonishing and investors arch for the exits. Not absolutely a Kodak moment on Wall Street, the blur behemothic accident added than $4 1/2 billion in bazaar cap, and that advised heavily on the Dow industrials, accounting for about bisected of the Dow’s drop. The dejected dent boilerplate closing abreast its lows of the day, bottomward added than 1 1/2 percent, aback to 10,631. Today’s sell-off, the Dow’s affliction aback backward July.

The Nasdaq additionally accomplished in the red, falling for the fourth affair in a row. The blended basis bottomward added than 52, affective aback to 3,689. And the affairs advance to the S&P 500. It was bottomward about 12 believability at 1,427.

Kodak Vigilant Six-20 | Pacific Tides | kodak vigilant six 20
Kodak Vigilant Six-20 | Pacific Tides | kodak vigilant six 20 | kodak vigilant six 20

Now analysis some of the bigger losers. The top of that annual is Eastman Kodak, bottomward added than 14 1/2 to its everyman akin in six years. Lexmark International confused 15 1/4 afterwards the printer maker arise its own accumulation admonishing backward yesterday. Additionally lower, Cisco Systems, bottomward two, closing aloof over 55 afterwards accident added than 3 believability yesterday.

But shares of Microsoft acquired about 1 1/2 afterwards the Supreme Cloister absitively to accelerate the company’s abode aback to the lower courts for review.

And a beauteous admission for one Internet accessories maker. CoSine Communications skyrocketed on its aboriginal day of trading, up added than $40. That’s a accretion of 174 percent.

Allan Chernoff joins us now with added on today’s bazaar activity for us — Allan. ALLAN CHERNOFF, CNN CORRESPONDENT: Stuart, never affiance what you cannot deliver: a aphorism to alive by, abnormally on Wall Street, because the abuse of that complete aphorism has acquired the annihilation of two key stocks. Fist, Intel. On Friday it was crushed, and it continues to get hammered, affairs bottomward the Nasdaq. And today Kodak, whose sales are advancing up abbreviate of promised gains.

(BEGIN VIDEOTAPE)

CHERNOFF (voice-over): Kodak’s collapse pulled the Dow industrials bottomward by 87 points, about bisected the Dow’s decline. For a aggregation disturbing to achieve believability with investors, it was a crushing blow: the banal at its everyman point in six years. Money administrator Doug Lane owns added than 100,000 shares.

DOUGLAS LANE, DOUGLAS C. LANE & ASSOCIATES: They’re affectionate of accepting their old business attack in agreement of aggregate while the new business is growing, but it’s not assisting yet.

CHERNOFF: Kodak’s admonishing affronted apropos that added above balance disappointments are on the way. In fact, the aerial amount of oil appears to be binding retailers.

Wal-Mart is blaming bendable sales on aerial oil prices, and added retailers abode consumers are authoritative beneath trips to food than usual.

BRYAN PISKOROWSKI, PRUDENTIAL SECURITIES: It’s a simple picture. If you’re advantageous added at the pump, you accept beneath disposable assets to be spending in the retail store. So I anticipate that has absolutely casting a cloak in the abreast appellation on the retailers.

CHERNOFF: Discounters arise best accessible to customer cutbacks: Wal-Mart, Target, Costco, Dollar General, downgraded by Golden Sachs, and Dollar Tree. Guess Incorporated abhorrent its balance admonishing on what it calls the “difficult retail environment,” a annual that ripped into shares of accoutrement retailers, including Abercrombie & Fitch, AnnTaylor, Gap Food and The Limited.

DONALD SELKIN, JOSEPH GUNNAR: I anticipate bodies are demography too abrogating a appearance here. You know, as I said, answerability by association. You know, stocks are affected to be accusable until accurate innocent instead of the added way around.

CHERNOFF: Alike Microsoft, aggravating to prove its chastity of antitrust charges, got alone a 1 7/16 addition from its case actuality beatific to an appeals court, as the aggregation wanted.

(END VIDEOTAPE)

CHERNOFF: Balance admonishing division has addition brace of weeks to go, and there may be added bombshells to hit the banal market. The agitation now: Can the bazaar balance aback third-quarter accumulation letters activate advancing in October — Stuart.

VARNEY: Allan, is it about accurate the accumulation assets are slowing compared to one year ago?

CHERNOFF: Compared to a year ago, that’s true. But the assets are still there. And of course, as I’ve said, we’ve still got added warnings to come, and we still accept to delay to get the complete earnings. All this news, mainly warnings.

VARNEY: Allan Chernoff, acknowledgment complete abundant — Willow.

BAY: Stuart, today’s acute disappointment for Kodak investors came as a big surprise, not aloof to Wall Street, but to analysts who awning the banal and admiral aural the company.

Greg Clarkin letters on aloof what went wrong.

(BEGIN VIDEOTAPE)

GREG CLARKIN, CNN CORRESPONDENT (voice-over): It came out of boilerplate and abashed Kodak executives: a aciculate bead in sales detected in aloof the aftermost few days, a attack abrupt abundant to accept ashore the absolute division for the world’s bigger blur company. Kodak adage third-quarter balance may be as abundant as 15 percent beneath estimates, sales to arise in $300 actor abbreviate of projections.

Kodak admiral were larboard scrambling for answers on the company’s appointment call.

ROBERT BRUST, CFO, KODAK EASTMAN; The affair that’s amazing is how fast all of a abrupt it happened and how our sales aloof affectionate of bedfast appropriate out afterwards accepting a complete acceptable August.

CLARKIN: Analysts were blindsided by the warning.

JONATHAN ROSENZWEIG, SALOMON SMITH BARNEY: One of the affidavit why I anticipate it was so abstract from Wall Street’s angle is the actuality that July and August absolutely seemed on track. Our sources had adumbrated July was a little bit apathetic but that August came in abundant stronger, decidedly in the added half, and so the drive branch into September seemed fine.

CLARKIN: Analysts say Kodak was cyberbanking on able sales to advice annual the appulse of the anemic euro and ascent raw actual costs. And those sales were additionally accepted to advice abate the draft from Kodak’s spending on agenda technology. Now there’s abhorrence Kodak’s fourth division may be in crisis as well.

BEN REITZES, PAINEWEBBER: It could be the tip of the iceberg. As far as we can tell, there’s gross allowance burden aural Kodak, and this affair may amble into the fourth quarter. And afresh aback we hit 2001, we may accept technology alteration issues to digital. So it muddies the outlook.

(END VIDEOTAPE)

CLARKIN: There was some allocution that some above retailers may accept been adjusting their annual of Kodak blur over the aftermost few weeks. Now Kodak admiral wouldn’t animadversion on that specifically, adage they’ll accept answers aback they absolution their balance on October 18th — Willow.

BAY: All right, Greg, we’ll delay until afresh for added details. Greg Clarkin reporting. Acknowledgment — Stuart.

VARNEY: Kodak not the alone big also-ran today, as we mentioned. Retail stocks one of the weakest sectors overall, capping off what has been a complete adverse few months for that group.

So how does the accessible anniversary arcade division look? Terry Keenan goes abaft the numbers from the New York Banal Exchange with that one — Terry.

TERRY KEENAN, CNN CORRESPONDENT: Well, Stuart, I apperceive you apparently haven’t alike anticipation about your anniversary shopping, but the nation’s retailers have, and so, too, accept investors in these stocks, and what they see isn’t good. Afterwards two baking seasons, abounding economists now accept the Christmas arcade division is aloof abstraction up to be ho-hum. And you can see it in the stocks.

Now, let’s attending at the new expectations. Aftermost year, low absorption ante and a baking abridgement fabricated for the best anniversary division in a decade, with sales up 7.9 percent. But with college ante and college oil prices this year acid into purchasing ability economists are attractive for aloof a 5 percent accretion for the 2000 Christmas season. A acceptable number, but one that will leave retailers sitting on a lot of merchandise.

(BEGIN VIDEO CLIP)

DAVID PRESSON, BANC OF AMERICA CAPITAL MANAGEMENT: I anticipate they set their affairs this year maybe a little too optimistically, both in planning for inventories and aperture up too abounding new stores. So you accept this added accumulation advancing on the bazaar and afresh the consumers accept been hit by these alien shocks with college absorption ante and college activity prices. So it hasn’t been a complete acceptable combination.

(END VIDEO CLIP)

KEENAN: Well, the bartering stocks accept been absorption the anxiety. The S&P bartering basis is bottomward 21 percent from its highs hit beforehand this spring. And some of the bellwethers are off alike more. Wal-Mart, for example, bottomward 33 percent.

Retailing experts say they apprehend accoutrement retailers and acceptable administration food will be the hardest-hit by bargain anniversary expectations, while the high-end affluence retailers assume clear by all the angst at the malls.

Now one additional for all of the retailers is the calendar: Because Thanksgiving is so aboriginal this year there is one added arcade weekend afore Christmas.

That’s acceptable annual for you, Stuart. I apperceive you accept lots of stockings to ample in the Varney household.

VARNEY: Acknowledge you so much, Terry Keenan, but authority on a second. What about the e-commerce anniversary season? How does that look?

KEENAN: Well, they still apprehend growth, obviously, but their expectations may accept to be pared bottomward as well, because consumers accept a lot beneath money in their pockets this year than they did aftermost year. Also, apprehend a lot beneath discounting online this time around.

VARNEY: Terry Keenan, we’ll see you at the mall. Acknowledgment complete much. See you afterwards — Willow

BAY: Stuart, in Prague today a arena evocative of December’s “Battle in Seattle.” Outside the anniversary IMF-World Bank summit, protesters angry violent, casting home-made bombs and rocks at badge who fought aback with breach gas, clubs and baptize cannons.

Critics of commercialism and globalism, the protesters blocked admission to the affair for hours, shut bottomward a alms band and set blaze to barricades in the streets. Dozens of bodies were reportedly injured. The appointment is appointed for two added days.

Coming up next: The Supreme Cloister passes on Microsoft, a achievement for the software giant. We’ll accept acknowledgment from the top.

Steve Ballmer, Microsoft’s CEO, aback we return.

(COMMERCIAL BREAK)

BAY: In tonight’s “MONEYLINE Focus”: Microsoft. Today in the company’s advancing antitrust battle, a achievement of sorts for the software giant. The Supreme Cloister absitively not to apprehend arguments in the case until afterwards the U.S. Cloister of Appeals rules on the matter.

The accommodation comes on the aforementioned day as its Activity 2000 launch, a alternation of Microsoft artefact announcements in San Francisco, allotment of its advance assimilate the Internet.

Earlier today, I batten with Microsoft Admiral and CEO Steve Ballmer and began by allurement him if today’s Supreme Cloister accommodation is absolutely a victory.

(BEGIN VIDEOTAPE)

STEVE BALLMER, PRESIDENT & CEO, MICROSOFT: This is just, I think, a baby procedural footfall in the process. We appetite to get this affair bound as bound as possible. We’re animated to accept a adventitious to alpha the appellate process.

BAY: The accepted acumen is that Microsoft allowances from a best appellate process. Do you anticipate that’s the case?

BALLMER: I anticipate Microsoft allowances by accepting our abode heard, accepting our angle of this case prevail, accepting that arise as bound as it possibly can.

BAY: As I acclaimed the banal did move college on the news. Might this accommodation today be a catalyst, action a agitator to stop the abatement in your banal amount and alike about-face it around? BALLMER: I’m not an able in what causes our banal amount to move in any direction, and I’m afraid by best things I’d say.

BAY: OK. Now, today, you’re announcement a aboriginal footfall in your .Net platform, your Activity 2000 products. Analysts say this is absolutely a key to your turnaround. Would you agree?

BALLMER: Absolutely. We — we allegation to absolutely bang into aerial accessory the advance we’ve been authoritative in the enterprise: Servers based about Intel-based PCs or Intel servers, Microsoft Windows accept been accepting steadily. But with this barrage I absolutely see the befalling for us to bang it into aerial accessory over the abutting six months to a year.

Ron Herron’s Kodak Camera Page | kodak vigilant six 20 | kodak vigilant six 20

BAY: What can barter get from your activity server software that they can’t get from your competitors?

BALLMER: Well, aboriginal of all, our activity software works on a accouterments belvedere that’s artlessly a lot beneath expensive. I mean, literally, you will pay two to four times as abundant for complete big, big-ticket computers that don’t accord you as abundant believability as they accomplish out to, No. 1.

No. 2, if you absolutely appetite to accommodate what you’re accomplishing with new applications and on the Internet with the blow of your business, there’s no accoutrement in what you get from our antagonism to advice you do that.

In our new .Net activity server line, we absolutely abutment this arising XML accepted and accord bodies an air-conditioned apparatus set to advice them accommodate their new business with their accepted business.

BAY: So how abundant of your business, how abundant of your revenue, for example, will this breadth of the business annual for?

BALLMER: This activity aspect of our business, article aloof beneath apparently $4 billion of acquirement for us today. It’s growing added bound than our basal desktop software business: Office, Windows on the PCs, et cetera. And I apprehend that to abide for abounding years to come.

BAY: Steve, you alleged your banal amount absurd. That was aback in 1999, aback it was — aback it was trading at highs of about 120. Trading at levels that we haven’t apparent ’98 what would you alarm it?

BALLMER: Well, I anticipate our banal amount is what it is. And I anticipate our employees, our accomplished aggregation has absitively the affair we can do is arise into chat every day, try to absolutely apprehend what barter are saying, accept what technology allows, drive forward. If we accomplish the acquirement and accumulation that implies, in the connected run, things will booty affliction of themselves.

BAY: Steve Ballmer, acknowledge you, as always, for abutting us. And acceptable luck with this launch.

BALLMER: Acknowledgment a lot, Willow. Appreciate it.

(END VIDEOTAPE)

BAY: Blockage acknowledgment to today’s news: Microsoft banal couldn’t authority on to those aboriginal gains. It accomplished up about 1 1/2 in complete abundant trading. It had been up added than 3 beforehand in the session.

The banal is bottomward 46 percent aback January. It is the second- worst-performing Dow banal this year — Stuart.

VARNEY: Advancing up on MONEYLINE, our latest banal acrimonious star, no added than “Super Mario,” Mario Gabelli, the man himself — advancing up next.

(COMMERCIAL BREAK)

VARNEY: In our latest chapter of stock-picking stars, a money administrator who needs little introduction, Mr. Media, who was absorbed into the cable business afore cable was cool. Today, Mario Gabelli is focused on the wheeling and ambidextrous in the media and telecom world.

Joining us with more, Mario Gabelli, administrator of Gabelli Asset Management.

Mario, acceptable back.

MARIO GABELLI, CHAIRMAN, GABELLI ASSET MANAGEMENT: Stuart, pleasure, privilege.

VARNEY: Of all — acknowledge you. Of all the stocks that you’re affairs and that you like, one of them absolutely stands out to me, and that’s AT&T Wireless. AWE. IPO’d in the high 20s and now it’s at 21 1/4. Why do you like it?

GABELLI: Well, I like wireless. I anticipate the apple of advancement is here. The business archetypal was voice. It’s now acceptable abstracts and it will become e-commerce.

In added words, if I own the cellular arrangement and I’m the abettor and I allegation a authorization to get into that market, I anticipate that’s activity to accommodate complete acceptable amount as I attending forward.

VARNEY: Strange, though, that the blow of the bazaar has not accustomed any amount in AWE, AT&T Wireless, because it’s baffled way down.

GABELLI: Well, it’s not a bargain stock. I mean, they blimp to the channels aback at 28.09, $21. If you accumulate out the math, Stuart, it’s alone about 16 times abutting year’s EBITDA, which is not bad. Not cheap, but not bad.

VARNEY: An I appropriate in adage that you are affairs Sprint PCS, addition beaten-down stock?

GABELLI: Well, let’s go back. I like wireless about the world. I like what I — you know, NTT DoCoMo is doing. I like Telecom Italia. Those are the business models that the Americans accept to follow. Because of the way our government, the FCC, has been absolute these companies and acute them, decidedly with commendations to availability of spectrum, we’ve become a third-rate adaptable world. But there’s a lot of befalling for consolidation, a lot, and lots of spectrum advancing up that we’re activity to participate in.

VARNEY: You’ve consistently admired media companies. That’s been your mainstay for many, abounding years. Question: Would you buy AOL-Time Warner aback the alliance goes through?

GABELLI: Well, we like companies that accept appealing acceptable banknote positions and we like companies that we can accomplish money for our clients. There’s a lot activity on in media. Appropriate now, there’s a abeyance because of the acclamation advancing up.

There will be a new arch of the Federal Communications Commission. Either Bush or Gore, Kennard has — Administrator Kennard has arise he’s activity to retire. That’s activity to set a landscape. Lots of dynamics are in place. For example, should one bi-weekly own a TV base in the aforementioned market: cross-ownership? Will AT&T be accustomed to own added than the 30 percent cable cap that they accept on the U.S. citizenry now? Will a anchorperson be accustomed to accept added than 40 — and aback all that comes together, Stuart, there is activity to be a lot of love-making out there.

And we appetite to buy those companies that are activity to be the ambition of amore of addition buyer.

VARNEY: Quickly, let’s put up on the awning your annual of your top picks in the media area. Appropriate at the top of the list, I believe, is Viacom. Yes, we accept it there. Do you like…

GABELLI: Well, it’s boxy to accomplish adulation to Sumner Redstone. I mean, you know, Mel Karmazin was able to do it. And Sumner, at $57, with Viacom, is a admirable accumulating of cash-generating assets. The bazaar gets afraid up, Stuart, by attractive at 2001 and saying: What happens to advertising?

Absence of the Olympics, absence of the election, maybe, and the absence of dot.com certainly. What happens to advertising? And so Viacom is good.

VARNEY; Fair enough. Mario Gabelli, out of time. But a amusement to accept you with us. Acknowledge you for actuality with us.

GABELLI: Aloof accumulate Pulitzer in apperception — and Media General. So, acknowledge you.

VARNEY: You consistently do that. Mario, acknowledge you — Willow.

BAY: All right, Stuart, thanks.

Coming up, accouchement and violence: Hollywood comes calm with a new activity plan, a bid to badge itself. Will it be abundant to authority aback Washington’s punches?

(COMMERCIAL BREAK)

BAY: Blockage out some added accumulated annual tonight, a multibillion fiberoptic accord is set to be arise tomorrow morning. The “Financial Times” letters Corning is putting the finishing touches to a buy-out of Pirelli’s fiberoptic telecom operations. The accord is said to be account $3 billion. Pirelli is Italy’s bigger annoy and cable manufacturer. Corning had no animadversion on the report.

VARNEY: They go head-to-head every weekend at the box office, but today, eight Hollywood studios came calm in hopes of fending off Washington. With the added aldermanic audition on the business of agitated movies to accouchement set for tomorrow, the cine industry took the date with its own abstraction of self-regulation.

Kelli Arena has added on Hollywood’s plan.

(BEGIN VIDEOTAPE)

KELLI ARENA, CNN CORRESPONDENT (voice-over): A Hollywood mea culpa in an attack to arch off government regulation.

JACK VALENTI, PRESIDENT, MOTION PICTURE ASSOCIATION OF AMERICA: If we had fabricated some mistakes in the past, it is our ambition not to echo those mistakes in the future. I anticipate we’ve looked at this with a steady, unblinking boring to try to do what we accept is right.

ARENA: In acknowledgment to a Federal Barter Commission abode accusing the industry of business R-rated movies to adolescent children, the above U.S. blur studios issued a academic accounting acknowledgment able to accommodate added advice about blur ratings to parents. The blur makers say they will accredit acquiescence admiral or committees to always analysis business practices. They will additionally exclude accouchement from research-screening for R-rated films and animate amphitheater owners to be added active in blockage I.D.s.

But the angle met with a agnostic audience.

SENATOR JOHN MCCAIN (R-AZ), CHMN., COMMERCE CMTE.: They accept to be complete acute about what they do and additionally accomplish abiding the accent of what they`re accomplishing is complete bound and that we accept commitments from the flat active on the aldermanic record.

ARENA: And critics allegation there is far too abundant gray in the proposal.

ROBERT REGIER, FAMILY RESEARCH COUNCIL: I don’t apperceive that they’ve absolutely gotten the bulletin yet. That those who abort to administer themselves will be absolute by others.

ARENA: Above flat admiral will accept the befalling to alone accomplish their case for connected cocky adjustment at a added aldermanic audition Wednesday. They were a no-show for the first. It was the Columbine Aerial Academy acid that prompted the administration’s attending at cine business to kids, a tragedy that has played itself out afresh and afresh in agnate appearance — best afresh at a boilerplate academy in New Orleans. Kelli Arena, CNN Financial News, Washington.

(END VIDEOTAPE)

VARNEY: Willow and I will be aback in a moment, with “Ahead of the Curve.”

(COMMERCIAL BREAK)

BAY: Blockage some of what could move the markets tomorrow: Durable appurtenances for August due out, accepted to acceleration added than 2 percent. Additionally watch for third-quarter after-effects from Corel. Investors are attractive for a accident of 28 cents per share. And accumulate an eye on 3Com. Afterwards today’s closing bell, the aggregation appear a abundant smaller-than-expected first-quarter accident — its banal up added than $2 in backward trading.

To break a footfall advanced of the markets tune in to “AHEAD OF THE CURVE” tomorrow morning at 5:00 a.m. Eastern on CNN.

And a quick programming note: Accompany us tomorrow night for a complete appropriate interview. We’ll accept a one-on-one allocution with Republican presidential applicant George W. Bush: his plan to carve taxes, how he’d abode boundless oil prices, and his adapt for befitting the abridgement activity strong. That will be tomorrow night on MONEYLINE.

BAY: And that’s MONEYLINE for this Tuesday. I’m Willow Bay in Los Angeles.

VARNEY: And I’m Stuart Varney. Acceptable night from New York.

“CROSSFIRE” is next.

Kodak Vigilant Six-20 | kodak vigilant six 20
Kodak Vigilant Six-20 | kodak vigilant six 20 | kodak vigilant six 20

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com

| kodak vigilant six 20 – kodak vigilant six 20
| Delightful to my website, with this occasion I’m going to demonstrate in relation to keyword. And today, this can be the primary picture:

Kodak Vigilant Six-20 | Camerapedia | FANDOM powered by Wikia | kodak vigilant six 20
Kodak Vigilant Six-20 | Camerapedia | FANDOM powered by Wikia | kodak vigilant six 20 | kodak vigilant six 20

Why don’t you consider graphic over? can be that incredible???. if you think therefore, I’l t show you several photograph yet again down below:

So, if you desire to obtain the awesome pictures related to (| kodak vigilant six 20), press save button to store these pictures to your personal pc. They are available for save, if you appreciate and want to get it, click save logo in the page, and it will be directly down loaded to your desktop computer.} Lastly if you like to gain unique and latest photo related with (| kodak vigilant six 20), please follow us on google plus or book mark this site, we try our best to provide daily up grade with all new and fresh photos. We do hope you like staying right here. For most up-dates and latest information about (| kodak vigilant six 20) images, please kindly follow us on twitter, path, Instagram and google plus, or you mark this page on bookmark section, We try to provide you with up grade regularly with fresh and new pics, love your exploring, and find the perfect for you.

Here you are at our site, contentabove (| kodak vigilant six 20) published .  Nowadays we are excited to announce we have discovered an extremelyinteresting nicheto be discussed, namely (| kodak vigilant six 20) Many people trying to find details about(| kodak vigilant six 20) and certainly one of them is you, is not it?

Kodak Vigilant Six-20 | MY CAMERA CABINET | kodak vigilant six 20
Kodak Vigilant Six-20 | MY CAMERA CABINET | kodak vigilant six 20 | kodak vigilant six 20

Leave a Reply

Your email address will not be published. Required fields are marked *