Boring Portfolio Report
Thursday, May 29, 1997
by Greg Markus (TMF
Boring)
TRAVERSE CITY, Mich. (May 29, 1997) -- Greetings from God's Country, where the hardwood trees are showing their buds, and spring is just around the corner.
The Boring Portfolio managed to buck a slight downdraft in the market yesterday, but not so today. A quick check of equities activity from a pay phone outside the 7-Eleven in Grayling reveals that the Borefolio slipped 0.35% Thursday -- despite winners outnumbering losers four to three, with two stocks unchanged. That result compares with losses of 0.37% and 0.51% for the S&P 500 and Nasdaq Composite indices, respectively.
Among Boring winners, GREEN TREE FINANCIAL (NYSE: GNT) grew $1/4 as the yield on 30-year Treasuries dipped back below the 7% mark.
The Borefolio's two healthcare issues, OXFORD HEALTH PLANS (Nasdaq: OXHP) and PRIME MEDICAL SERVICES (Nasdaq: PMSI) picked up a quarter-point each.
ORACLE CORP (Nasdaq: ORCL) was unchanged at $47 1/8. The only "news" I could locate was a brief update on the dust-throwing contest between Oracle and INFORMIX (Nasdaq: IFMX) in a Portland, Oregon, zoo -- er, courtroom. I'm half-expecting to see Larry Ellison show up soon on Geraldo's show to share his sense of injustice with interested viewers ... both of them.
Will you permit me to say that shares of CISCO SYSTEMS (Nasdaq: CSCO) succumbed to "a round of profit -taking" today? Well, I just did. I don't know how else to characterize today's $2 1/4 trim. Percentage-wise, that was less severe than the haircut inflicted on a number of other networking stocks following a near-vertical runup recently.
A research report released today by the Dell'Oro Group found that revenues for the shared hub and LAN switch segment of the networking industry declined 4% from Q4 1996 to Q1 1997."A seasonally soft quarter combined with product transitions and aggressive price actions resulted in a rough first quarter. However, early indicators for the second quarter show that sales are brisk. Price promotions have been successful stimulators, and bookings are up on new products," said Tam Dell'Oro in the press release.
Former segment-leader 3COM (Nasdaq: COMS) saw end-user revenues for those products dip 8% sequentially, to $410 million. And revenues for third-place seller BAY NETWORKS (NYSE: BAY) fell 3%, to $352 million. The company that was #2 in the segment for Q4 saw its segment revenues rise more than 14%, however, to $498 million -- which moved the company into first place.
Yup. It was Cisco.
Folks, that's it for tonight from the shores of Grand Traverse Bay. I'm off for a evening run on the Vasa Trail -- gorgeous -- and then some eats.
Cheers!
Evening
News -- Nike sweating?
Fool Four -- These
giants are... giant.
Boring
Portfolio -- Cisco, Oracle and more.
Daily Double
-- Why did it double?
Daily Trouble
-- Is there value in this beaten down stock?
(c) Copyright 1997, The Motley Fool. All rights reserved.
This material is for personal use only. Republication and redissemination,
including posting to news groups, is expressly prohibited without the prior
written consent of The Motley Fool.
Stock Change Bid ATLS --- 27.75 BGP - 3/8 21.63 CSL - 1/8 30.50 CSCO -2 1/4 66.75 GNT + 1/4 35.13 ORCL --- 47.13 OXHP + 1/4 65.13 PMSI + 1/4 11.13 TDW + 1/8 42.13
Day Month Year History
BORING -0.35% 9.07% 4.78% 20.58%
S&P: -0.37% 5.33% 13.95% 35.79%
NASDAQ: -0.51% 11.29% 8.68% 34.78%
Rec'd # Security In At Now Change
400 Borders Gr 11.26 21.63 92.12%
5/24/96 100 Oxford Hea 48.02 65.13 35.61%
6/26/96 100 Cisco Syst 53.90 66.75 23.84%
3/5/97 150 Atlas Air 23.06 27.75 20.35%
8/13/96 200 Carlisle C 26.32 30.50 15.86%
2/2/96 200 Green Tree 30.39 35.13 15.59%
3/8/96 400 Prime Medi 10.07 11.13 10.49%
11/21/96 100 Oracle Cor 48.65 47.13 -3.13%
12/23/96 100 Tidewater 46.52 42.13 -9.46%
Rec'd # Security In At Value Change
2/28/96 400 Borders Gr 4502.49 8650.00 $4147.51
5/24/96 100 Oxford Hea 4802.49 6512.50 $1710.01
6/26/96 100 Cisco Syst 5389.99 6675.00 $1285.01
2/2/96 200 Green Tree 6077.49 7025.00 $947.51
8/13/96 200 Carlisle C 5264.99 6100.00 $835.01
3/5/97 150 Atlas Air 3458.74 4162.50 $703.76
3/8/96 400 Prime Medi 4027.49 4450.00 $422.51
11/21/96 100 Oracle Cor 4864.99 4712.50 -$152.49
12/23/96 100 Tidewater 4652.49 4212.50 -$439.99
CASH $7788.54
TOTAL $60288.54
