CALLAWAY GOLF CONTINUES TO SUFFER FROM THE ASIAN FLU

          Shares of Callaway Golf dropped 6 1/4 on the NYSE
     yesterday and closed at 12 3/4.  This comes after Callaway
     reported an "earnings bogey" on Wednesday, which led to
     shares dropping 5/16 to 19, according to CNBC's Maria
     Bartiromo on "Business Center."  On Wednesday night,
     Bartiromo reported that the company's earnings of $0.30 a
     share were "below revised estimates for the quarter of
     $0.32, and well below last year's second quarter of $0.66 a
     share.  Callaway says weakness in Asia, and soft demand in
     the U.S. hurt sales, and the company says things won't get
     better any time soon" (CNBC, 7/22).  Callaway said that its
     second-half losses could be as much as $0.22 a share as
     factors in Asia "slow its sales."  Callaway "warned" that
     the loss would result in full-year earnings of as little as
     $0.25 a share.  Analysts had expected earnings of $1.22 a
     share (Jeanie Stokes, BLOOMBERG NEWS, 7/22).  "NBR"'s Paul
     Kangas: "The bogeyman got to that stock" ("NBR," PBS, 7/23).