The Daily Workshop Report
by Robert Sheard (TMF Sheard)

LEXINGTON, KY. (Apr. 28, 1997)

See what happens when Tiger Woods doesn't play on a regular PGA Tour stop? Tiger sits out of the Greater Greensboro Open and shares of his apparel sponsor NIKE <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: NKE)") else Response.Write("(NYSE: NKE)") end if %> dropped $3 a share!

The real reason for the drop in Nike, of course, is an analyst downgrade at Hambrecht & Quist. (Tiger isn't slated to play again for a couple more weeks, I believe.) Shelly Hale Young cut her rating on the stock from "buy" to "hold" (a euphemism for "sell"?) on what she called weakness in the domestic shoe market.

Young dropped her earnings estimate from 74 cents a share to 68 for Nike's fiscal fourth quarter. And her fiscal 1998 estimate was reduced from $3.52 to $3.40.

The consensus estimate from First Call is only 69 cents (as of 4/21), so Young's cut pulls her number back in line with the consensus. The First Call number for FY 1998 is $3.43.

Also dropping on news today was CKE RESTAURANTS <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: CKR)") else Response.Write("(NYSE: CKR)") end if %>, which shows up in our rankings from the beginning of the year. The company is buying out the chain of Hardee's Restaurants for approximately $327 million. The Street had a Big Mac attack on the news and dropped the stock 5.5%.

In general, though, technology issues put in a solid performance, boosting several of our Workshop Growth screens. Would that it continued, Fools!

Monthly Growth Screens
(Jan. 3 to present)
  8.98%  Relative Strength  
  3.33%  S&P 500 Index  
 -1.13%  Low Price/Sales  
-12.96%  YPEG Potential  
-14.84%  Investing for Growth  
-21.66%  EPS Plus RS  
-24.72%  Unemotional Growth  
-28.17%  Formula 90  

Annual Value Screens
(Jan. 1 to present)
 5.33%  Dogs of the Dow  
 5.19%  Dow Jones Ind Avg  
 2.89%  Beating the S&P  
-1.81%  Unemotional Value  
-1.81%  Beating the Dow  
-2.47%  Dow Combo  
-6.77%  Foolish Four