Daily market summary and stock picks

Mr. Greenspan spoke, and the markets listened; the Dow lost over 46 points, while the NASDAQ gained over 120 points to a new high. Gainers included: American National Can Group, AOL, Applied Imaging, Applied Materials, Apropos Technology, AT&T, Bioshield, Celera, Celltech Group, Cendant, Ceridian, Chesapeake Corp., Chesapeake Biological Labs, Choice One Communication, Ciena, Cisco Systems, Compaq, Concord EFS, Creative Biomolecules, Creative Master, Cytoclonal, Cytogen, Cytrix, Dell, Dycom Industries, Eloquent inc., Emcore Corp., Epimmune, Excite@Home, Health Plan, H&Q Life Sciences, Imaging Technology, Immune Response, Insignia Finance, Intel, Intelect Communication, Interneuron, Keithley Holdings, Kmart, Lucent Technologies, Magainin Pharmaceutical, MCI Worldcom, Medcom, Microsoft, Microwave Filter Co., Novell, Oracle, Parametric, Peekskill Financial, Perkinelmer, Pfizer, Philip Morris, Qualcomm, Qwest Communications, Repligen, SBC Communications, Siga Technology, Shorewood Packaging, Sonoma Williams, Southwest Securities, Sun Microsystems, Tag Heuer, Terayon Communications, Trega Biosciences, Tyco International, Unumprovident, Uromed, US Home, and Visible Genetics.

Federal Reserve Chair Alan Greenspan's speech was a strong signal to the markets that an aggressive inflation fighting policy is inevitable as increased demand (Wealth Effect), and wage pressures continue unabated; this was bad news to financial and retail stocks as they stumbled, while technology and biotechnology stocks rallied, pushing the NASDAQ to gain over 120 points, and to a new all time high; the Dow lost over 46 points. A complete analysis of Mr. Greenspan's Humphrey-Hawkins report will be available this Saturday at our The Federal Reserve Monetary Policy Alert page.
Earnings reports flooded the market today, and most were very good: ADC Telecommunications, Agilent, Allegheny, Bright Horizon, CIBC World Markets, Datum inc., Ingram Micro, Instuform Technologies, Moore Corp., Neo Magic Corp., Novell, and Outback Steakhouse are just some of those that reported earnings better than estimates. Ciena Corp. and Ditech not only met estimates, but posted profits.
Shorewood Packaging is accepting the $600 million offer from International Paper, thus sabotaging the $500 million hostile bid from Chesapeake corp.
US Wholesale prices were unchanged in January, thanks to low tobacco prices. the Producer Price Index (PPI), a good measure of inflationary pressure, was flat in January, while the core PPI actually dropped 0.2%; analysts were expecting an INCREASE of 0.1%.
US Jobless claims for last week dropped to 283,000; analysts expected a larger drop of 286,000-this shows the labor market is still tight.
Freddie Mac reports that the US 30-year mortgage rate is at 8.38%, the highest since July of 1996. 15-year mortgage rates are at over 8.0%, their highest since March 1995, while the One year Adjustable rates (ARM) rose to 6.77%, the highest since January 20th. 1995.

NASDAQ: Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: Act Networks, Advanced Electronic Support Products (AESP), Akamai Technology, Alamosa PCS, AlpNet, Alysis Technology, Amgen, Andover.Net, Apple, Applied Materials, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Ask Jeeves, Avanex Corp., Be Incorporated, Cavion Technology, Cellular Technical, Centra Software, Centura Software, Charter Communications, Chordiant Software, Cisco Systems, CMGI, Cobalt Networks, Commonwealth Biotechnologies, Corel, Covad Communications, Cygnus, Cytogen Pharmaceutical, Dell, ebay, Ecogen, Emerge Interactive, Epicor Software, E-piphany, ePlus, Ericsson, EuroWeb, Excite@Home, Evolving Systems, Finisar, Foundry Networks, FreeMarkets.Com, GeoWorks, Glenayre Technologies, GRIC Communications, iBasis, Impsat Corp., Informix, Infosys Technologies, Inktomi, Intel, Internet Capital Group, Intuit, JDS Uniphase, Juniper Networks, Legato Systems, Looksmart, MCI Worldcom, Microsoft, Neoforma.Com, Netsolve, New Tel, Novell Networks, Novellus System, Oracle, Optelecom, Pac-West Telecomm, Paging Network, Panja, PFS Web, Portal Software, Qualcomm, Quantum Effect Devices, Red Hat, Robocom, Saflink, Sage, Sanchez Computer Associates, SDL inc., Sequenom, ShopNow.Com, Silicom Ltd., Siliconix, Smith Micro Software, SonicWall, Sun Microsystems, Sybase, Sycamore Networks, Synaptic Pharmaceuticals, Targ Genetics, TCSI, Tegal Corp., Telular Corp., Terra Networks, Trega Biosciences, TriTel, Turnstone System, Va Linux, Venture Catalyst, Vertel Corp., ViaNet.Works, Vitesse Semiconductor, V One Corp., WebMethods, Witness System, Yahoo! and Zebra Technologies.

NYSE: Telecommunications, Retailing, Utilities, Banking, and Technology stocks like: 3Com, Aetna, Agilent Technology, Alcatel, AMD, AOL, American Express, Analog Devices, AT&T, Bank of America, Bank One, Bausch & Lomb, Bell Atlantic, BP Amoco, British Telecom (BT), Cable & Wireless, Celestica, Charles Schwab, Chase, Check Point, Chevron, Cigna, Citigroup, Compaq, Computer Associates, Convergys, Dominion Resources, Donaldson Lufkin, Dow Chemical, Dot Hill Systems, E.I. Dupont, El Paso Energy, EMC Corp., Exxon Mobil, Federated Dept. Stores, Fifth Third Bank, FirstStar Bank, GE, GTE, Hewlett Packard, Home Depot, IBM, JC Penny, John Hancock, Johnson & Johnson, JP Morgan, Kmart, Legg Mason, Lucent Technologies (LU), Merck & co., Merrill Lynch, Micron Technology, Morgan Stanley Dean Witter, Motorola, National Semiconductor, Newbridge Network, Nortel Networks, PE Corp, Pfizer, P&G, Philip Morris, Provident Bank, Prudential, SBC Communications, Schering-Plough, Schlumberger, Sprint, Sprint PCS, STMicroelectron, Texas Instruments, Tyco International, Unisys, Wal-Mart, Warner Lambert, Wells Fargo, Xerox, and ZDNet will do well.

The markets closed mixed in anticipation of Greenspan's speech tomorrow. Gainers included: 3Com, Ace Ltd., Advanced Electronic Support Products (AESP), Aeroflex, Allied Waste, American Precision, Amgen, Applied Materials, Asche Transport, Ashanti Goldfields, AT&T, Bogen Communication, CacheFlow, CANTV (Veneguelan National Telephone Company), Carson inc., CheckFree, Ciena, Commonwealth Biotechnologies, Compuware, Comstock Resources, Continental Information Systems, Creative Biomolecules, CSK Automotive, Cytogen, Dell, Dot Hill Systems, Dycom Industries, Enzo Biochem, Flamel Technologies S.A., Goodrich Petroleum, HADCO Corp, Hancock Fabrics, Healtheon WebMD, Hewlett-Packard, H&Q Life Sciences, Human Genome Sciences, JDS Uniphase, La Jolla Pharmaceuticals, LendingTree, Lycos, McDermott International, MCI Worldcom, Newpark Resources, Novell, Nortel Networks, Oakley, Optical Sensors, OSI Pharmaceuticals, Protein Design Labs, QMS inc, Sanchez Computer Associates, Schlumberger, Sierra Health, Southwest Airlines, Superconductor Technologies, Targ Genetics, TD Waterhouse, Technology Solutions, Terra Nitrogen, Tower Tech, Unisys, and Zebra Technology.

The Dow closed lower as investors await Federal Reserve Chair Alan Greenspan's speech tomorrow; the NASDAQ gained, thanks to software and biotechnology stocks (see below).
Biotechnology stocks posted a stellar performance after news circulated that Human Genome Sciences inc. has patented a gene that is the key to HIV infection (and cure).
Analysts were worried about inflation fears and what Mr. Greenspan will say tomorrow; the general consensus is a rough and tough talk intended to "correct" the markets.
US Housing starts in January rose a stronger-than-anticipated 1.5% to 1.775 million-thereby igniting inflation fears again.
Oil and Gas exploration related stocks gained due to energy related data (see below). American Petroleum Institute (API) reported that US crude oil reserves dropped 2.6 million barrels for week ending February 11th. The Energy Department's EIA reported a more optimistic drop of 200,000 barrels in the same period. Analysts were expecting an INCREASE of 1.7 million barrels in the period; Oil prices closed unchanged at $30.05/barrel.
Federal Reserve Bank of St. Louis President William Poole said he doesn't think the recent increase in oil prices will not necessarily lead to "a general outbreak of inflation".
TD Waterhouse, the second largest discount brokerage house, reported fiscal Q1 earnings more than doubled, as customers use the internet more to buy and sell stocks.
Lycos, the number Internet content network, reported earnings at 3 cents per share, beating estimates by 2 cents a share. Lycos' revenue jumped 120% to $68.6 million, while page views grew 23% to 101 million page views per day.
CacheFlow reported that its fiscal Q3 earnings beat estimates by 5 cents a share.
DoubleClick shares were halted from trading after it was reported the Federal Trade Commission (FTC) is investigating its online data collection practices.
AFTER CLOSE: Hewlett-Packard posted fiscal Q1 earnings of $794 million, or 80 cents per share, 2 cents per share better than estimates.
AFTER CLOSE: Zebra Technologies reported Q4 earnings of 66 cents per share, one cent above estimates.
US import prices rose 0.1% in January, due largely to higher oil prices; export prices were unchanged in the same period.

The markets gained today as what seems like a replay of yesterday. Gainers included: 3Com, 3M, AdminStaff, American Express, Applied Materials, Ashanti Goldfields, Avista Corp., Bank of America, Bank One, Berry Petroleum, Birmingham Steel, Blockbuster, Borden Chem, Cavion Tech, Chase Manhattan, Chordiant Software, Citigroup, Compaq, Compuware, Creative Biomolecules, Dell, Discover Labs, Dril-Quip, Dupont, Electro-Sensors, Excite@Home, ExxonMobil, GE, Georgia Gulf, Global Crossing, Healtheon WebMD, Imaging Technology, Intel, Interim Services, International Fibercom, Interpool, Janus Hotels, Keithley Instruments, Labor Ready, LaserScope, LJL Biosystems, Loral Space & Communication, Lucent Technologies, Medcom USA, Micron Tech, Moyco Technology, Nova Chemicals, Occidental Petroleum, Pfizer, Philip Morris, Procter & Gamble, Qwest Communications, Rambus inc, Schlumberger, SunHawk.Com, Sun Microsystems, Texaco, Triton Energy, Union Pacific Resource Group, Wellpoint Health networks, Xerox, and Yahoo!

The Dow broadened yesterday's rally as bargain hunters went after blue-chip stocks in consumer goods manufacturers, Banking and financial services stocks; the NASDAQ rose above two points as Profit taking in technology stocks continue.
Energy stocks, especially exploration related stocks, closed stronger due to strong earnings reports (and expectations), and continued increase in oil prices (closed at $30.06/barrel).
US industrial production grew a stronger-than-anticipated 1.0% in January, while capital utilization rose to 81.6% in the same period.
The US Dollar rose against the Yen and other major currencies, thanks to the strong industrial production report.
The National Association of Home Builder's (NAHB) Housing Market Index dropped to 68, the third monthly drop in a row.
Staffing services companies closed higher due to strong earnings reports, stock upgrades from brokerage houses, and a very strong growth forecast.
Applied Materials reported that its fiscal Q1 sales doubled, earnings beat estimates by 3 cents, and a 2-for-1 stock split is planned.
Creative Biomolecules, a leading biotechnology company, is to merge with two other biotechnology companies to form a new company called Curis inc.
IPOs like Chordiant Software, SunHawk.Com were hot, while Savvis barely closed at its IPO price.

NASDAQ: Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: Act Networks, Akamai Technology, Alamosa PCS, AlpNet, Alysis Technology, Amgen, Andover.Net, Apple, Applied Materials, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Ask Jeeves, Avanex Corp., Be Incorporated, Cavion Technology, Cellular Technical, Centra Software, Centura Software, Charter Communications, Chordiant Software, Cisco Systems, CMGI, Cobalt Networks, Corel, Covad Communications, Cygnus, Cytogen Pharmaceutical, Dell, ebay, Ecogen, Emerge Interactive, Epicor Software, E-piphany, ePlus, Ericsson, EuroWeb, Excite@Home, Evolving Systems, Finisar, Foundry Networks, FreeMarkets.Com, GeoWorks, Glenayre Technologies, GRIC Communications, iBasis, Impsat Corp., Informix, Infosys Technologies, Inktomi, Intel, Internet Capital Group, Intuit, JDS Uniphase, Juniper Networks, Legato Systems, Looksmart, MCI Worldcom, Microsoft, Neoforma.Com, Netsolve, New Tel, Novell Networks, Novellus System, Oracle, Optelecom, Pac-West Telecomm, Paging Network, Panja, PFS Web, Portal Software, Qualcomm, Quantum Effect Devices, Red Hat, Robocom, Saflink, Sage, SDL inc., Sequenom, ShopNow.Com, Silicom Ltd., Siliconix, Smith Micro Software, SonicWall, Sun Microsystems, Sybase, Sycamore Networks, Synaptic Pharmaceuticals, TCSI, Tegal Corp., Telular Corp., Terra Networks, Trega Biosciences, TriTel, Turnstone System, Va Linux, Venture Catalyst, Vertel Corp., ViaNet.Works, Vitesse Semiconductor, V One Corp., WebMethods, Witness System, and Yahoo.

NYSE: Telecommunications, Retailing, Utilities, Banking, and Technology stocks like: 3Com, Aetna, Agilent Technology, Alcatel, AMD, AOL, American Express, Analog Devices, AT&T, Bank of America, Bank One, Bausch & Lomb, Bell Atlantic, BP Amoco, British Telecom (BT), Cable & Wireless, Celestica, Charles Schwab, Chase, Check Point, Chevron, Cigna, Citigroup, Compaq, Computer Associates, Convergys, Dominion Resources, Donaldson Lufkin, Dow Chemical, E.I. Dupont, El Paso Energy, EMC Corp., Exxon Mobil, Federated Dept. Stores, Fifth Third Bank, FirstStar Bank, GE, GTE, Hewlett Packard, Home Depot, IBM, JC Penny, John Hancock, Johnson & Johnson, JP Morgan, Kmart, Legg Mason, Lucent Technologies (LU), Merck & co., Merrill Lynch, Micron Technology, Morgan Stanley Dean Witter, Motorola, National Semiconductor, Newbridge Network, Nortel Networks, PE Corp, Pfizer, P&G, Philip Morris, Provident Bank, Prudential, SBC Communications, Schering-Plough, Schlumberger, Sprint, Sprint PCS, STMicroelectron, Texas Instruments, Tyco International, Unisys, Wal-Mart, Warner Lambert, Wells Fargo, Xerox, and ZDNet will do well.

The markets gained today. Gainers included: 3Com, Aeroflex, Charter Communications, C Phone, Culp Corp., Cytogen, Diversa, Dransfield China, Dupont, Dynamic Homes, Ergo Science, Falcon Products, Genicom, Healtheon WebMD, Hewlett Packard, ICIC Ltd., Imagin Technology, Intel, JMar Technology, Lucent Technologies, Merck, Nexell Therapeutic, Nortel Networks, Oracle, Qwest Communications, SBC Communications, Skechers USA, StarTek, Trammell Crow, and Walmart.

NASDAQ: Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: Act Networks, Akamai Technology, Alamosa PCS, AlpNet, Alysis Technology, Amgen, Andover.Net, Apple, Applied Materials, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Ask Jeeves, Avanex Corp., Be Incorporated, Cellular Technical, Centra Software, Centura Software, Charter Communications, Cisco Systems, CMGI, Cobalt Networks, Corel, Covad Communications, Cygnus, Cytogen Pharmaceutical, Dell, ebay, Ecogen, Emerge Interactive, Epicor Software, E-piphany, ePlus, Ericsson, EuroWeb, Excite@Home, Evolving Systems, Finisar, Foundry Networks, FreeMarkets.Com, GeoWorks, Glenayre Technologies, GRIC Communications, iBasis, Impsat Corp., Informix, Infosys Technologies, Inktomi, Intel, Internet Capital Group, Intuit, JDS Uniphase, Juniper Networks, Legato Systems, Looksmart, MCI Worldcom, Microsoft, Neoforma.Com, Netsolve, New Tel, Novell Networks, Novellus System, Oracle, Optelecom, Pac-West Telecomm, Paging Network, Panja, PFS Web, Portal Software, Qualcomm, Quantum Effect Devices, Red Hat, Robocom, Saflink, Sage, SDL inc., Sequenom, ShopNow.Com, Silicom Ltd., Siliconix, Smith Micro Software, SonicWall, Sun Microsystems, Sybase, Sycamore Networks, Synaptic Pharmaceuticals, TCSI, Tegal Corp., Telular Corp., Terra Networks, Trega Biosciences, TriTel, Turnstone System, Va Linux, Venture Catalyst, Vertel Corp., ViaNet.Works, Vitesse Semiconductor, V One Corp., WebMethods, Witness System, and Yahoo.

NYSE: Telecommunications, Retailing, Utilities, Banking, and Technology stocks like: 3Com, Aetna, Agilent Technology, Alcatel, AMD, AOL, American Express, Analog Devices, AT&T, Bank of America, Bank One, Bausch & Lomb, Bell Atlantic, BP Amoco, British Telecom (BT), Cable & Wireless, Celestica, Charles Schwab, Chase, Check Point, Chevron, Cigna, Citigroup, Compaq, Computer Associates, Convergys, Dominion Resources, Donaldson Lufkin, Dow Chemical, E.I. Dupont, El Paso Energy, EMC Corp., Exxon Mobil, Federated Dept. Stores, Fifth Third Bank, FirstStar Bank, GE, GTE, Hewlett Packard, Home Depot, IBM, JC Penny, John Hancock, Johnson & Johnson, JP Morgan, Kmart, Legg Mason, Lucent Technologies (LU), Merck & co., Merrill Lynch, Micron Technology, Morgan Stanley Dean Witter, Motorola, National Semiconductor, Newbridge Network, Nortel Networks, PE Corp, Pfizer, P&G, Philip Morris, Provident Bank, Prudential, SBC Communications, Schering-Plough, Schlumberger, Sprint, Sprint PCS, STMicroelectron, Texas Instruments, Tyco International, Unisys, Wal-Mart, Warner Lambert, Wells Fargo, Xerox, and ZDNet will do well.

The markets closed the week lower. Gainers included: Aeroflex, Alcoa, Ann Taylor Stores, Ariba, AutoNation, Cabletron Systems, Cable & Wireless HKT Ltd., Compaq, Cytogen, Elcotel, Epimmune, FLAG Telecom, Grupo Industrial Maseca, Inco, JMar Technology, Lante Corp., Lexington Global Asset Managers, Lucent Technologies, MCI Worldcom, Network Associates, PacificHealth, Paging Networks, Pameco Corp., Procter & Gamble, Sungard Data System, Trans Global Services, Triquint Semiconductor, Twin Disc, ViaNet.Works, and WebMethods.

NASDAQ: Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: Act Networks, Akamai Technology, Alamosa PCS, AlpNet, Alysis Technology, Amgen, Andover.Net, Apple, Applied Materials, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Ask Jeeves, Avanex Corp., Be Incorporated, Cellular Technical, Centra Software, Centura Software, Charter Communications, Cisco Systems, CMGI, Cobalt Networks, Corel, Covad Communications, Cygnus, Cytogen Pharmaceutical, Dell, ebay, Ecogen, Emerge Interactive, Epicor Software, E-piphany, ePlus, Ericsson, EuroWeb, Excite@Home, Evolving Systems, Finisar, Foundry Networks, FreeMarkets.Com, GeoWorks, Glenayre Technologies, GRIC Communications, iBasis, Impsat Corp., Informix, Infosys Technologies, Inktomi, Intel, Internet Capital Group, Intuit, JDS Uniphase, Juniper Networks, Legato Systems, Looksmart, MCI Worldcom, Microsoft, Neoforma.Com, Netsolve, New Tel, Novell Networks, Novellus System, Oracle, Optelecom, Pac-West Telecomm, Paging Network, Panja, PFS Web, Portal Software, Qualcomm, Quantum Effect Devices, Red Hat, Robocom, Saflink, Sage, SDL inc., Sequenom, ShopNow.Com, Silicom Ltd., Siliconix, Smith Micro Software, SonicWall, Sun Microsystems, Sybase, Sycamore Networks, Synaptic Pharmaceuticals, TCSI, Tegal Corp., Telular Corp., Terra Networks, Trega Biosciences, TriTel, Turnstone System, Va Linux, Venture Catalyst, Vertel Corp., ViaNet.Works, Vitesse Semiconductor, V One Corp., WebMethods, Witness System, and Yahoo.

NYSE: Telecommunications, Retailing, Utilities, Banking, and Technology stocks like: 3Com, Aetna, Agilent Technology, Alcatel, AMD, AOL, American Express, Analog Devices, AT&T, Bank of America, Bank One, Bausch & Lomb, Bell Atlantic, BP Amoco, British Telecom (BT), Cable & Wireless, Celestica, Charles Schwab, Chase, Check Point, Chevron, Cigna, Citigroup, Compaq, Computer Associates, Convergys, Dominion Resources, Donaldson Lufkin, Dow Chemical, E.I. Dupont, El Paso Energy, EMC Corp., Exxon Mobil, Federated Dept. Stores, Fifth Third Bank, FirstStar Bank, GE, GTE, Hewlett Packard, Home Depot, IBM, JC Penny, John Hancock, Johnson & Johnson, JP Morgan, Kmart, Legg Mason, Lucent Technologies (LU), Merck & co., Merrill Lynch, Micron Technology, Morgan Stanley Dean Witter, Motorola, National Semiconductor, Newbridge Network, Nortel Networks, PE Corp, Pfizer, P&G, Philip Morris, Provident Bank, Prudential, SBC Communications, Schering-Plough, Schlumberger, Sprint, Sprint PCS, STMicroelectron, Texas Instruments, Tyco International, Unisys, Wal-Mart, Warner Lambert, Wells Fargo, Xerox, and ZDNet will do well.

The NASDAQ gained more than 120 points to close at a new high, while the Dow lost for the second day in a row. Gainers included: 3Com, Aether Systems, All American Sport, Allstate, AlpNet, Alysis Technologies, AOL, AppNet, AT&T, Biopure, BP Amoco, China Prosperity, Chyron, Ciena, Cisco Systems, CoinStar, Concord EFS, Cypress Communications, Cytogen, Data IO, Dell, Energy Biosystem, Epcos AG, Fidelity Korea, Friedman Billings & Ramsey, GE, Imaging Technology, Informix, Intel, International Sports Wagering, Internet Security System, John Hancock Financial, JMar Technology, MCI Worldcom, Microsoft, National Oil Well, Network Associates, Office Depot, Oracle, Organic, Pepsico, Philip Morris, Repligent, Saflink, Saga Software, Sandata, SonicWall, Sterling Commerce, Sun Microsystems, Synaptic Pharmaceuticals, TCBY Enterprises, Trega Biosciences, TV Aztec, Verisign, Vitesse Semiconductor, Vodafone Airtouch PLC, Witness System, and Xcare.Net.

NASDAQ: Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: Act Networks, Akamai Technology, Alamosa PCS, AlpNet, Alysis Technology, Amgen, Andover.Net, Apple, Applied Materials, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Ask Jeeves, Avanex Corp., Be Incorporated, Cellular Technical, Centra Software, Centura Software, Charter Communications, Cisco Systems, CMGI, Cobalt Networks, Corel, Covad Communications, Cygnus, Cytogen Pharmaceutical, Dell, ebay, Ecogen, Emerge Interactive, Epicor Software, E-piphany, ePlus, Ericsson, EuroWeb, Excite@Home, Evolving Systems, Finisar, Foundry Networks, FreeMarkets.Com, GeoWorks, Glenayre Technologies, GRIC Communications, iBasis, Impsat Corp., Informix, Inktomi, Intel, Internet Capital Group, Intuit, JDS Uniphase, Juniper Networks, Legato Systems, Looksmart, MCI Worldcom, Microsoft, Neoforma.Com, Netsolve, New Tel, Novell Networks, Novellus System, Oracle, Optelecom, Pac-West Telecomm, Paging Network, Panja, PFS Web, Portal Software, Qualcomm, Quantum Effect Devices, Red Hat, Robocom, Saflink, Sage, SDL inc., Sequenom, ShopNow.Com, Silicom Ltd., Siliconix, Smith Micro Software, SonicWall, Sun Microsystems, Sybase, Sycamore Networks, Synaptic Pharmaceuticals, TCSI, Tegal Corp., Telular Corp., Terra Networks, Trega Biosciences, TriTel, Turnstone System, Va Linux, Venture Catalyst, Vertel Corp., Vitesse Semiconductor, V One Corp., Witness System, and Yahoo.

NYSE: Telecommunications, Retailing, Utilities, Banking, and Technology stocks like: 3Com, Aetna, Agilent Technology, Alcatel, AMD, AOL, American Express, Analog Devices, AT&T, Bank of America, Bank One, Bausch & Lomb, Bell Atlantic, BP Amoco, British Telecom (BT), Cable & Wireless, Celestica, Charles Schwab, Chase, Check Point, Chevron, Cigna, Citigroup, Compaq, Computer Associates, Convergys, Dominion Resources, Donaldson Lufkin, Dow Chemical, E.I. Dupont, El Paso Energy, EMC Corp., Exxon Mobil, Federated Dept. Stores, Fifth Third Bank, FirstStar Bank, GE, GTE, Hewlett Packard, Home Depot, IBM, JC Penny, John Hancock, Johnson & Johnson, JP Morgan, Kmart, Legg Mason, Lucent Technologies (LU), Merck & co., Merrill Lynch, Micron Technology, Morgan Stanley Dean Witter, Motorola, National Semiconductor, Newbridge Network, Nortel Networks, PE Corp, Pfizer, P&G, Philip Morris, Provident Bank, Prudential, SBC Communications, Schering-Plough, Schlumberger, Sprint, Sprint PCS, STMicroelectron, Texas Instruments, Tyco International, Unisys, Wal-Mart, Warner Lambert, Wells Fargo, Xerox, and ZDNet will do well.

The markets dropped due to an array of fears. Gainers included: 3Com, Abbott Labs, American Champion Entertainment, Applied Materials, Battle Mountain, Benchmark Electric, Boston Biomed, Boston Science, British Sky Broadcasting, Buy.Com, Cisco Systems, Delano Tech, Franklin Covey, GenesisIntMedia, Gildan Activewear, Global Crossing, Goodyear Tire & Rubber, Hathaway, Informix, International Sports Wagering, Legato Systems, Margo Caribe, Media Arts, MetroCall, Nortel Networks, Oracle, PAC Aerospace, Pepsico, Philip Morris, Qwest Communications, Reed International PLC, SBC Communications, Sandata, Sun Microsystems, Techniclon, UroMed, Vicinity, and Vitesse Semiconductor.

Investors seem to have had a change of heart about yesterday's productivity and labor cost data, as interest rate fears returned to the market with a vengeance, thus forcing the markets to close lower; banking and financial stocks were hit hard.
Computer Hacking incidents at Yahoo, ebay, etc. made Internet stocks some of the major losers.
Cisco Systems, the giant network equipment maker, had earnings better-than-estimated, thus gaining over 6 points and closing the day as the second most valued company in the world (after Microsoft) at a $482 billion market capitalization.
US Treasury Secretary Lawrence Summers has indicated the US Treasury 30-year notes will not be as scares as previously thought; yield on US 30-year Treasury notes gained a fraction.
Pepsico and Goodyear Tire & Rubber both reported earnings above estimates.
Nortel Networks paid $64.5 million for privately held Dimension Enterprises, an Internet Data Center company.
Sun Microsystems is to increase its sales and marketing activities in the data storage sector.
Microsoft is facing another anti-competition probe. This time, the European Union is investigating the giant software company's Windows 2000 operating system.

NASDAQ: Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: Act Networks, Akamai Technology, Alamosa PCS, AlpNet, Amgen, Andover.Net, Apple, Applied Materials, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Ask Jeeves, Avanex Corp., Be Incorporated, Cellular Technical, Centra Software, Centura Software, Charter Communications, Cisco Systems, CMGI, Cobalt Networks, Corel, Covad Communications, Cygnus, Cytogen Pharmaceutical, Dell, ebay, Ecogen, Emerge Interactive, Epicor Software, E-piphany, ePlus, Ericsson, EuroWeb, Excite@Home, Evolving Systems, Finisar, Foundry Networks, FreeMarkets.Com, GeoWorks, Glenayre Technologies, GRIC Communications, iBasis, Impsat Corp., Informix, Inktomi, Intel, Internet Capital Group, Intuit, JDS Uniphase, Juniper Networks, Legato Systems, Looksmart, MCI Worldcom, Microsoft, Neoforma.Com, Netsolve, New Tel, Novell Networks, Novellus System, Oracle, Optelecom, Pac-West Telecomm, Paging Network, Panja, PFS Web, Portal Software, Qualcomm, Quantum Effect Devices, Red Hat, Robocom, Sage, SDL inc., Sequenom, ShopNow.Com, Silicom Ltd., Siliconix, Smith Micro Software, SonicWall, Sun Microsystems, Sybase, Sycamore Networks, TCSI, Tegal Corp., Telular Corp., Terra Networks, Trega Biosciences, TriTel, Turnstone System, Va Linux, Venture Catalyst, Vertel Corp., Vitesse Semiconductor, V One Corp., and Yahoo.

NYSE: Telecommunications, Retailing, Utilities, Banking, and Technology stocks like: 3Com, Aetna, Agilent Technology, Alcatel, AMD, AOL, American Express, Analog Devices, AT&T, Bank of America, Bank One, Bausch & Lomb, Bell Atlantic, BP Amoco, British Telecom (BT), Cable & Wireless, Celestica, Charles Schwab, Chase, Check Point, Chevron, Cigna, Citigroup, Compaq, Computer Associates, Convergys, Dominion Resources, Donaldson Lufkin, Dow Chemical, E.I. Dupont, El Paso Energy, EMC Corp., Exxon Mobil, Federated Dept. Stores, Fifth Third Bank, FirstStar Bank, GE, GTE, Hewlett Packard, Home Depot, IBM, JC Penny, John Hancock, Johnson & Johnson, JP Morgan, Kmart, Legg Mason, Lucent Technologies (LU), Merck & co., Merrill Lynch, Micron Technology, Morgan Stanley Dean Witter, Motorola, National Semiconductor, Newbridge Network, Nortel Networks, PE Corp, Pfizer, P&G, Philip Morris, Provident Bank, Prudential, SBC Communications, Schering-Plough, Schlumberger, Sprint, Sprint PCS, STMicroelectron, Texas Instruments, Tyco International, Unisys, Wal-Mart, Warner Lambert, Wells Fargo, Xerox, and ZDNet will do well.

The markets roared as economic news damper inflation fears. Gainers included: 3Com, AAstrom Biosciences, AHP, Amazon.Com, American Pacific Bank, Amgen, AOL, Apache Medical Systems, Applied Materials, Buy.Com, Cabletron System, China Telecom, Cisco Systems, Citigroup, Compaq, CVS Pharmacy, Deutsche Telecom, Elan Corp., EMC Corp, FastNet, GE, Global Crossing, Immucell, Infinite group, Intel, McDonalds, MCI Worldcom, Media Arts, Micron Tech, Microsoft, Newell Rubbermaid, Nortel Networks, Optelecom, Paging Network, Pfizer, Portal Software, Qwest Communications, Qualcomm, Robocom Systems International, Rogers Cantel, Sun Microsystems, Systemax, Tellabs, Thomson Multimedia, Trion Technology AG, Tyco International, Venture Catalyst, Video Network, Vimpel.Com, Vion Pharmaceutical, Vision Twenty One, Vitesse Semiconductor, Vodafone Airtouch PLC, Walmart, Warner-Lambert, Windmere-Durable Holdings, and Yahoo!

THE "DAILY BREAD" FOR THE MARKET

Daily Morning Insights on the Market

THE "DAILY BREAD" FOR THE MARKET

Daily Morning Insights on the Market