<% ' AvantGo:MarketClose %>DJIA             9064.54      -69.00      (-0.76%)
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30-Year Bond   103 16/32      +11/32  5.02% Yield<% ' AvantGo:End %>

HEROES

<% ' AvantGo:Heroes %>Analog Devices <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: ADI)") else Response.Write("(NYSE: ADI)") end if %>, which makes integrated circuits for analog and digital signal processing (DSP) applications, gained $3 1/8 to $24 1/8 after reporting fiscal Q4 EPS of $0.16, down from the $0.29 earned last year but a penny better than the First Call mean estimate. Back in July, the company said Q3 could mark the performance low point for the year, and today's report seems to reinforce that view. This quarter, Analog Devices logged a sequential sales increase in every product category except automatic test equipment. Meanwhile, the company's operating margin rose to 11.1% from 10.2% in Q3. Today, President and CEO Jerald Fishman attempted to put a 1998 chock-full of earnings warnings and year-on-year revenue slides for the company firmly in the past. "Industry fundamentals are improving," he said. "We believe we are at the trough of what has been a very difficult period throughout the semiconductor industry, and that conditions will improve in 1999."

Hot initial public offering-of-the-day honors go to E-TEK Dynamics <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: ETEK)") else Response.Write("(Nasdaq: ETEK)") end if %>, which jumped $14 3/4 to $26 3/4 after the company sold 5 million common shares at a price of $12 a stub. The share price range for the IPO, which raised about $60 million for the San Jose, California-based company, was lifted yesterday to $10-$12 per share range from the original $8-$10 per share range so the company could take full effect of the market's recent preference for all things Internet, no matter how tenuous the relationship. E-TEK (not to be confused with the similarly named and tickered laser beam mask making equipment maker Etec Systems) makes optical components and modules for wavelength division multiplexing and optical amplification systems sold by the likes of Ciena Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: CIEN)") else Response.Write("(Nasdaq: CIEN)") end if %>, Lucent Technologies <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: LU)") else Response.Write("(NYSE: LU)") end if %>, and Nortel <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: NT)") else Response.Write("(NYSE: NT)") end if %>. With the crusade for the bandwidth Holy Grail still going strong, the Internet connect-the-dots exercise was pretty easy for traders today.

QUICK TAKES: Information technology education services provider Computer Learning Centers <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: CLCX)") else Response.Write("(Nasdaq: CLCX)") end if %> bounced back $15/16 to $5 3/4 after falling 25% yesterday on reports that Maryland education authorities might revoke the company's operating license in the state due to numerous complaints. In a press release last night, the company said the license is not in danger of being revoked and that the state's allegations "will be resolved without any material effect on the company"... Electronic payment and collections systems maker CheckFree Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: CKFR)") else Response.Write("(Nasdaq: CKFR)") end if %> bounced $2 5/16 higher to $20 after database software giant Oracle <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: ORCL)") else Response.Write("(Nasdaq: ORCL)") end if %> said it will fully integrate the company's electronic bill presentation and payment service with Oracle's Internet Bill & Pay solution.

"System on a Chip" company LSI Logic <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: LSI)") else Response.Write("(NYSE: LSI)") end if %> advanced $1 9/16 to $17 9/16 after Goldman Sachs started coverage with a "market outperform" rating... Specialty shipping insurance provider Intercargo Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: ICAR)") else Response.Write("(Nasdaq: ICAR)") end if %> rose $1 5/16 to $11 7/16 after agreeing to merge with a subsidiary of specialty insurer and reinsurer EXEL Ltd. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: XL)") else Response.Write("(NYSE: XL)") end if %> in a deal valued at $88 million, or $12 per Intercargo share... Consumer video conferencing products maker 8x8 Inc. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: EGHT)") else Response.Write("(Nasdaq: EGHT)") end if %> jumped $5 11/16 to $9 3/8 after introducing two new products, forming a broadband cable telephony lab with networking company 3Com <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: COMS)") else Response.Write("(Nasdaq: COMS)") end if %>, and saying its technology is compatible with the Internet telephony technologies of NetSpeak Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: NSPK)") else Response.Write("(Nasdaq: NSPK)") end if %> and Motorola <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: MOT)") else Response.Write("(NYSE: MOT)") end if %>.

Educational toy retailer Noodle Kidoodle <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: NKID)") else Response.Write("(Nasdaq: NKID)") end if %> moved up $1 1/8 to $9 1/2 after reporting a Q3 loss of $0.20 per share (including $21.4 million in loss carryforwards), which was not quite as bad as the Zacks estimate of a loss of $0.23 per share... Teenage apparel direct marketer dELiA*s Inc. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: DLIA)") else Response.Write("(Nasdaq: DLIA)") end if %> gained $3 3/4 to $12 after launching websites for its home furnishings and Droog boy's apparel catalogs. The company also introduced its gURLNet Network "portal" site for teenage-oriented content and a new music news content area for its gURL.com site... Telecommunications enhanced services platform designer Comverse Technology <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: CMVT)") else Response.Write("(Nasdaq: CMVT)") end if %> climbed $4 3/4 to $62 3/4 after reporting Q3 EPS of $0.62, up from $0.39 a year ago and ahead of the First Call mean estimate of $0.57.

Cable set-top box maker Scientific-Atlanta <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: SFA)") else Response.Write("(NYSE: SFA)") end if %> added $2 5/8 to $21 1/2 after signing an agreement to provide access to Microsoft's WebTV services through the company's new Explorer 2000 digital set-top box... Restaurant operator Consolidated Products <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: COP)") else Response.Write("(NYSE: COP)") end if %> rose $1 1/16 to $21 3/4 after setting a five-for-four stock split... Electronic data transmission cable maker Cable Design Technologies <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: CDT)") else Response.Write("(NYSE: CDT)") end if %> jumped $3 3/8 to $21 3/8 after reporting fiscal Q1 EPS of $0.41, topping the First Call mean estimate by $0.04. The company also said it will repurchase up to 1.9 million of its outstanding shares... Camping equipment and apparel maker Kellwood Co. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: KWD)") else Response.Write("(NYSE: KWD)") end if %> rose $2 to $28 13/16 after agreeing to buy two privately held women's sportswear designers in stock deals, boosting the company's annual sales by a collective $400 million.

Call center automation systems designer InterVoice <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: INTV)") else Response.Write("(Nasdaq: INTV)") end if %> rang up $1 7/8 to $28 5/16 after pre-announcing fiscal Q3 EPS between $0.35 and $0.37, topping the First Call estimate of $0.32... Apartment building real estate investment trust Irvine Apartment Communities <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: IAC)") else Response.Write("(NYSE: IAC)") end if %> climbed $4 3/16 to $31 9/16 after privately held real estate investment firm The Irvine Co. offered to buy the 83% stake in the company it does not already own for about $540 million, or $32.50 per share in cash... Biochemical research products maker Thermo BioAnalysis Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(AMEX: TBA)") else Response.Write("(AMEX: TBA)") end if %> gained $2 7/16 to $12 15/16 after its BioStar unit's 20-minute diagnostic test for influenza A and B was approved by the FDA today... Enterprise application software firm BMC Software <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: BMCS)") else Response.Write("(Nasdaq: BMCS)") end if %> picked up $4 1/4 to $56 1/4 after its CFO told a Credit Suisse First Boston investors conference that the company doesn't "see any major freeze or slowdown in budgets" by its clients in information technology spending, according to Bloomberg News.<% ' AvantGo:End %>

GOATS

<% ' AvantGo:Goats %>Investors trying to get a handle on aircraft maker Boeing Co.'s <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: BA)") else Response.Write("(NYSE: BA)") end if %> Tuesday evening announcement that Asian economic weakness has hurt demand for commercial aircraft, leading to broad cuts in production, jobs, and earnings expectations, might do well to look past the Pacific Rim for perspective. Many observers worry that Boeing's problems are more fundamental, blaming chronic production problems stemming from price competition with European rival Airbus that has left Boeing with more orders than its troubled production team can handle. Boeing President and COO Harry Stonecipher admitted as much during a conference call today, suggesting the firm is spending 20% to 30% more time assembling an airplane today than it did four or five years ago. Meanwhile, an Airbus spokesperson told one news service today that Airbus has no plans to slow production. Boeing stock opened up the airlock and jumped today, falling $6 3/4 to $33 5/8.

An announced search for "strategic alternatives" at semiconductor and electronic components storage and automated handling products maker Peak International <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: PEAKF)") else Response.Write("(Nasdaq: PEAKF)") end if %> won't involve Richard Brook, who was terminated as CEO and president today. Brook, who came to Peak from Texas Instruments <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: TXN)") else Response.Write("(NYSE: TXN)") end if %> in 1991, was replaced by CFO Jerry Mo for the time being. Among the alternatives Peak will consider is a sale to an unnamed company that made its presence known two weeks ago. At the time, Peak said the suitor was considering buying Peak at a price range "somewhat above" market levels -- the stock closed at $12 per share the day before Peak revealed the existence of an interested party. Interest or no, publicly admitting a company is considering a sale rarely helps its stock in the short term, which when combined with the management shakeup helps explain Peak's $1 1/4 drop to $9 1/2 today.

QUICK CUTS: The Boeing news had a sharp effect on the company's suppliers, as both investors and brokerages made the connection and reacted accordingly. Forgings, castings, and commercial airframes manufacturer Wyman-Gordon Co. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: WYMN)") else Response.Write("(Nasdaq: WYMN)") end if %> slid $3 3/4 to $11 9/16 after PaineWebber downgraded it to "attractive" from "buy" in the wake of the Boeing fallout. Also hurt was aerospace component maker Sundstrand Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: SNS)") else Response.Write("(NYSE: SNS)") end if %>, which fell $4 3/8 to $50 7/16 after Salomon Smith Barney downgraded it to "outperform" from "buy." Elsewhere in the aerospace industry, Lockheed Martin <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: LMT)") else Response.Write("(NYSE: LMT)") end if %> lost $3 5/16 to $103 1/16, Northrop Grumman <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: NOC)") else Response.Write("(NYSE: NOC)") end if %> dropped $3 13/16 to $77 3/8 and United Technologies <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: UTX)") else Response.Write("(NYSE: UTX)") end if %> shed $4 13/16 to $101 5/8.

Computer workstations and Java programming language developer Sun Microsystems <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: SUNW)") else Response.Write("(Nasdaq: SUNW)") end if %> sank $5 13/16 to $74 1/8 after it told analysts a new computer system has crowded more of its quarterly shipments into December, straining its efforts to meet earnings. Salomon Smith Barney downgraded the stock to "neutral" from "outperform" today... Data communications equipment company Cisco Systems <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: CSCO)") else Response.Write("(Nasdaq: CSCO)") end if %> slid $1 1/2 to $78 1/4 after it said it will take a one-time $0.03 to $0.06 per share fiscal Q2 charge in connection with its planned $126 million acquisition of privately owned communications equipment maker PipeLinks Inc... Department store retailer Sears <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: S)") else Response.Write("(NYSE: S)") end if %> slipped $1 9/16 to $43 this morning after announcing that same-store sales decreased 3.6% for the four weeks ending November 29th. Shoppers, head to the Lunchtime News department for more.

Kellogg <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: K)") else Response.Write("(NYSE: K)") end if %> crunched away $15/16 to $36 3/8 after it announced plans to cut approximately 525 salaried positions and 240 contracted positions at its headquarters and within its North American operations. While the cereal giant anticipates annual cost savings of $105 million beginning in 1999, it also expects a one-time $0.11 per share charge to Q4 earnings when it reports results in January... Speech technology company Lernout & Hauspie <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: LHSPF)") else Response.Write("(Nasdaq: LHSPF)") end if %> lost $3 to $37 after it said it might have to reduce its in-process research and development write-offs for acquisitions dating back to November 1996 in light of recently published SEC guidelines, which could result in an increase in the amount of goodwill and amortization expense associated with the acquisitions.

Telecommunications and factory automation equipment maker Amphenol Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: APH)") else Response.Write("(NYSE: APH)") end if %> lost $2 9/16 to $29 15/16 after Merrill Lynch downgraded the company to "neutral" from "accumulate"... French integrated oil company Total SA's <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: TOT)") else Response.Write("(NYSE: TOT)") end if %> American depositary receipts continued to fall today, losing $4 to $51 1/2 after slipping $5 5/8 yesterday on its announcement of plans to buy Belgian refiner Petrofina SA <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: FIN)") else Response.Write("(NYSE: FIN)") end if %> in a $11.6 billion stock swap. Petrofina's ADRs, which won $8 1/8 yesterday, retreated $1 15/16 to $46 7/8... Meanwhile, two leading oil companies were downgraded this morning in the wake of yesterday's blockbuster merger news. Amoco Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: AM)") else Response.Write("(NYSE: AM)") end if %> leaked $9/16 to $42 5/8 while British Petroleum <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: BP)") else Response.Write("(NYSE: BP)") end if %> slipped $3 13/16 to $86 1/16 after Donaldson, Lufkin & Jenrette cut its ratings on the companies to "market perform" from "buy."

Natural gas exploration and production company Union Pacific Resources <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: UPR)") else Response.Write("(NYSE: UPR)") end if %> was drilled $1 3/16 to $9 13/16 after it said it expects a $34 million charge in Q4 to fund a 14% cut in headquarters staff in the face of reduced U.S. activity at its operations... Music retailer National Record Mart <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: NRMI)") else Response.Write("(Nasdaq: NRMI)") end if %> lost $2 15/16 to $11 1/16 despite announcing plans to join the online music retail fray for the holiday season... Several other Internet stocks were hurt today, as yesterday's hero WavePhore <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: WAVO)") else Response.Write("(Nasdaq: WAVO)") end if %> crashed $5 3/4 to $9 1/2 while Bluefly <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: BFLY)") else Response.Write("(Nasdaq: BFLY)") end if %> buzzed down $3 15/16 to $17. Recent net-frenzy beneficiary Books-A-Million <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: BAMM)") else Response.Write("(Nasdaq: BAMM)") end if %> lost $8 1/2 to $16, while November StockTalk subject NetGravity <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: NETG)") else Response.Write("(Nasdaq: NETG)") end if %> was pulled down $4 5/8 to $21 1/8.

Network access products maker Cabletron Systems <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: CS)") else Response.Write("(NYSE: CS)") end if %> dropped $3 1/2 to $10 3/4 after saying it expects a Q3 operating loss of $0.10 per share before charges, well off the First Call consensus estimate of an $0.11 profit... Multinational long-distance company IDT Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: IDTC)") else Response.Write("(Nasdaq: IDTC)") end if %> fell $3 5/8 to $16 3/4 after yesterday reporting fiscal Q1 EPS of $0.14, ahead of last year's $0.08 figure but flat with market estimates... Intermet Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: INMT)") else Response.Write("(Nasdaq: INMT)") end if %>, which makes iron and aluminum cast components for automotive and industrial equipment manufacturers, rusted $1 13/16 to $12 1/4 after it said production problems will pull Q4 EPS below Wall Street's $0.48 consensus estimate. The company still expects to turn a profit for the quarter.

TearDrop Golf <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: TDRP)") else Response.Write("(Nasdaq: TDRP)") end if %> bogeyed for $1 to end up at $5 after it said one of its largest customers deferred a "multi-million dollar" purchase of clubs to Q1 1999 from Q4 1998, hurting quarterly and full-year earnings... Bank holding company Republic Bancorp <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: RBNC)") else Response.Write("(Nasdaq: RBNC)") end if %> withdrew $1 5/8 to $15 after it said last night it will acquire D&N Financial Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: DNFC)") else Response.Write("(Nasdaq: DNFC)") end if %> in a $286 million stock swap. D&N rose $3 1/8 to $26 as investors cheered the deal's 30.7% premium to the company's Monday closing price.<% ' AvantGo:End %>

FOOL ON THE HILL
An Investment Opinion
by Louis Corrigan

Shopping for Shoe Retailers

<% ' AvantGo:FOTH %>It's hardly news that the market for athletic shoes has lost its footing over the last two years. The Nike <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: NKE)") else Response.Write("(NYSE: NKE)") end if %> juggernaut that once drove the industry to a slammin' in-your-face jam depended on consumers' ceaseless appetite for ever-more-expensive Air Jordans and other high-tech, high-fashion sneaks. Despite the heroics of His Royal Airness last spring, not even Michael could do much to pump up the marketplace. More recently, even the '70s revival that gave new life to companies like Adidas has faded. Everyone's been talking about the move to so-called "brown shoes," with Timberland <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: TBL)") else Response.Write("(NYSE: TBL)") end if %>, Doc Marten, and Skechers being some of the supposed beneficiaries. The NBA strike just adds another hurdle to any hoped-for sports shoe revival.

While the slowdown has been notable, it hasn't been as dramatic as one might expect. The Athletic Footwear Association reported that U.S. sales of athletic shoes leaped from $12.1 billion in 1993 to $14.1 billion in 1996, rising about 5.23% per year. Last year, sales popped up to $14.7 billion, still a 4.25% increase. The story of fickle fashion trends, then, appears to be only part of the story. The inventory glut that has produced widespread discounting throughout the industry seems partly a result of the overbuilding of specialty athletic shoe stores and the ongoing waves of consolidation/expansion that have been taking place as a result.

Venator Group <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: Z)") else Response.Write("(NYSE: Z)") end if %>, the company formerly known as Woolworth, has added Koenig's, Athletic Fitters, and Champs to its roster of players, which include the giant Foot Locker chain and its Lady Foot Locker and Kids Foot Locker sidekicks. This summer, it attempted to add The Sports Authority <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: TSA)") else Response.Write("(NYSE: TSA)") end if %> to its already market-leading 3,650-store base. However, each company's stock imploded as sales and earnings deteriorated. Some believe that aborted deal helped trigger Just for Feet's <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: FEET)") else Response.Write("(Nasdaq: FEET)") end if %> move to acquire the 38-store Sneaker Stadium chain. Last year, the fast-growing Just for Feet also bought Athletic Attic and Imperial Sports. It now has 315 stores, including franchised units.

The accelerated pace of consolidation triggered by the current troubles seems likely to produce a marketplace somewhat similar to other ultimately lower margin but comfortably profitable retail niches where scale matters. Think book and music retailing, or even video rental. Numerous independent or small-chain retailers still find a way to profit in these markets. In general, though, independents increasingly are being pushed out of business. Meanwhile, huge discount-oriented chains, like Wal-Mart <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: WMT)") else Response.Write("(NYSE: WMT)") end if %> and Best Buy <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: BBY)") else Response.Write("(NYSE: BBY)") end if %>, have absorbed larger chunks of the market while a couple of specialty retailers in each niche have gained substantial market share. So we have Barnes & Noble <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: BKS)") else Response.Write("(NYSE: BKS)") end if %> and Border's Group <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: BGP)") else Response.Write("(NYSE: BGP)") end if %> in the book biz, and Musicland <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: MLG)") else Response.Write("(NYSE: MLG)") end if %> and Trans World Entertainment <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: TWMC)") else Response.Write("(Nasdaq: TWMC)") end if %> in music retail.

Clearly, none of these markets are completely dominated by just one or two players, and the dynamics of each business are different. But any of these specialty retailers might have proved a nice investment play on its industry's consolidation, assuming you didn't ignore valuation. Moreover, it seems to me that books, CDs, and other multimedia items can be readily purchased over the Internet because there's little chance of buying the wrong item and being stuck with reshipping costs. The new Tom Wolfe is the new Tom Wolfe is the new Tom Wolfe. Apparel and shoes, on the other hand, are a slightly "iffier" e-tail proposition since even if customers know their size, they can't be guaranteed a comfortable fit. In other words, consolidation within the athletic shoe market seems less exposed to the Amazon.com <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: AMZN)") else Response.Write("(Nasdaq: AMZN)") end if %> et al. Internet trump card that threatens to make price an even more important competitive issue.

Checking the current valuations, we see that a company like Just for Feet, which has maintained strong revenue and earnings growth throughout this rough period while remaining in good financial shape, has been rewarded. Others have fallen to near 52-week lows as we enter serious tax-loss selling season.

Company        Price     MC     EV  Sales    EPS  EV/Sales  P/E  EPS Next Yr

Just For Feet   20 3/4   731   747    696   0.94      1.07  24.5        1.40

Venator          7 1/2  1017  1378   6649   0.59      0.21  12.7        0.91

Finish Line      8 1/4   219   165    494   1.02      0.33   8.1        1.16

Footstar            23   589   626   1864   2.29      0.34  10.0        2.93

Sports Authority 6 3/4   215   361   1561  (1.79)     0.23   N/A        0.62

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Contributing Writers Yi-Hsin Chang (TMF Puck), a Fool Brian Graney (TMF Panic), another Fool David Marino-Nachison (TMF Braden), a new Fool Editing Brian Bauer (TMF Hoops), another Fool Bob Bobala (TMF Bobala), a Fool's Fool Jennifer Silber (TMF Amused), Fool at last