PENNZOIL <PZL> SEES LOWER FIRST QTR
Pennzoil Co Chairman J. Hugh Liedtke
told a meeting of analysts that the company expects its first
quarter net to be down considerably, before an unusual item,
from the loss of 49 cts a share reported a year ago.
    Liedtke did not say how large the unusual item would be.
"We're still closing our books on the first quarter, so I don't
have final numbers for you," he said.
 Reuter
