Daily market summary and stock picks

<ILAYER src="http://www.businessjeeves.com/cgi-bin/adspro/ads.pl?campaign=1&type=iframe&color=FFFFFF" height="60" width="468" visibility="show" z-index="10"></ILAYER>

Search Page

Trade Leads

Financial Calculators

Discussion Forums

THE "DAILY BREAD" FOR THE MARKET

Daily Morning Insights on the Market

<---D160--->

MARKET SUMMARY FOR FRIDAY MARCH 31ST. 2000

DOW INDUSTRIAL: 10921.92 = -58.33

NASDAQ: 4572.83 = +114.94

S & P 500: 1498.58 = +10.66

MOST ACTIVE STOCKS & SECTORS

The NASDAQ rose over 114 points as this rotation now favors Technology, Biotechnology and Telecommunications. Blue Chip stocks gave back some of their gains two days in a row. Gainers included: Affiliated Computer Services, AH Belo, Alexion Pharmaceutical, Alston S.A., AOL, Arrowpoint Communication, Atmel Corp, AVI Biopharmaceutical, Biomarin Pharmaceutical, BP Amoco Plc., Cendant, Cisco Systems, Comcast, Dell, DeVry, Emcore Corp, EuroWeb, Intel, Internet Gold, Interwave Corp, JDS Uniphase, Louis Dreyfus Gas, MCI Worldcom, MGI Properties, Microsoft, Mitel Corp, Molecular Devices, Motorola, Neorx Corp, Net2Phone, Network Appliance, PE Corp, Pfizer, Policy Management System, Qualcomm, SpectraSite Holding, Storage Tech, Sun Microsystems, Targ Genetics, Techniclon, Time Warner, Tricom S.A., Uproar, Williams Sonoma, Yahoo! and Zamba Corp.

MAIN REASONS FOR ACTIVITY

Technology stocks staged a strong comeback despite an economic report (see below) that seems to suggest more rate hikes are needed to cool this economy off.
It is official. AT&T is investing about $1.4 billion in its Internet rival Net2Phone; Net2Phone rose, while AT&T lost.
A Dry Weather forecast in the U.S. Midwest pushed up prices of Corn, Soybeans, and winter Wheat.
Arrowpoint had a hot IPO today. Trader.Com N.V., a Dutch online advertisement company, closed 30% lower than its IPO price, while ValueClick, another online advertisement company, barely gained above its IPO price.
Storage Technology is spinning off its Storage Solutions (services) unit from its core business.
Prudential Securities caused a panic in B2B circles today by downgrading the three leading firms in the group: i2 Technologies, Ariba, and Commerce One.
US Consumer Spending grew a higher-than-anticipated 1%, Personal Consumption Index grew by 0.4%, while US Savings Rate dropped to 0.8%, as consumers continue to spend unabated, while little is saved. What does it mean? inflation pressures continue to build.
Chicago Purchasing Managers Index (PMI) grew slightly in March to 57.4%. What does this mean? Chicago (and possibly national) manufacturing sector is still strong.
drkoop.com lost about 41% of its value today after auditors questioned its accounting practices.
E Spire Communications, the cash strapped ISP, continued its free fall today.
AFTER HOURS: Seagate and Veritas announced myriads of complicated deals today that sent the stocks tumbling to close lower. However, it seems investors needed time to catch up to the deals, since both stocks are gaining on Instinet in after hours trading.

PICKS FOR THE NEXT MARKET DAY

NASDAQ:

Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: Act Networks, Advanced Electronic Support Products (AESP), Akamai Technology, Alamosa PCS, AlpNet, Altera, Alysis Technology, Amdahl, Amgen, Anaren Microwave, Andover.Net, Apple, Applied Materials, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Arrowpoint, Ask Jeeves, AudioCodes Ltd., 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, Elan Corp. PLC, Emerge Interactive, Epicor Software, E-piphany, ePlus, Ericsson, EuroWeb, Excite@Home, Evolving Systems, Finisar, Foundry Networks, FreeMarkets.Com, GeoWorks, Glenayre Technologies, GRIC Communications, Hytek Microsystems, iBasis, Impsat Corp., Informix, Infosys Technologies, Inktomi, Intel, Internet Capital Group, Intuit, JDS Uniphase, Juniper Networks, Legato Systems, Linear Technology, Looksmart, Luminex, MCI Worldcom, Metasolv Software, Metrix One, Microsoft, Neoforma.Com, Net2Phone, Netsolve, New Tel, Niku Corp, Novell Networks, Novellus System, Onvia.Com, Optelecom, Oracle, Pac-West Telecomm, Paging Network, Palm, Panja, PFS Web, Portal Software, Qualcomm, Quantum Effect Devices, Red Hat, Register.Com, RiverDeep Group Plc., 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, UTStarcom, Va Linux, Venture Catalyst, Versata, 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, Kroger Co, 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, Philip Morris, Price Communications, Provident Bank, Prudential, Safeguard Scientifics, 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.

REASONS BEHIND THE PICKS

It is time for the sectors listed below (and our picks on top) to gain aggressively, as investors continue to look for bargains. Tell us your views by posting them at our Discussion Forum.
Ariba and CommerceOne are very good buys as the price continues to slide. These two companies have very valuable contracts and relationships with industrial giants like GM, Ford, DaimlerChrysler, etc. who spend a fortune procuring materials. If there is a holy grail for B2B eMarketplaces, these two have it. We want to hear your views at Discussion Forum.
Blue Chips like consumer products manufacturers, financials, and retailing will do well as the market continues to rotate.
Expect Technology, Internet ISPs, and Portal sites to perform very well.
Cable, Telecommunications, and Drugs (especially Biopharmaceutical) stocks will do well.
Internet holding and capacity (storage) companies will do very well (check out our Quarterly forecasts for other picks).

<---D159--->

MARKET SUMMARY FOR THURSDAY MARCH 30TH. 2000

DOW INDUSTRIAL: 10980.25 = -38.47

NASDAQ: 4457.89 = -186.78

S & P 500: 1487.92 = -20.60

MOST ACTIVE STOCKS & SECTORS

The Bloodbath in Technology stocks continued today as the markets closed lower. Blue Chip stocks faired better. Gainers included: Advanced Micro Devices (AMD), AT&T, Bed Bath & Beyond, BillServ.Com, Cascade Corp, Castle & Cook, Citigroup, Coca Cola, Comcast, Global Crossing, HomeGrocer.Com, IBM, JM Smuckers, Linen n' Things, Luminex Corp., MCI Worldcom, Nabisco, Net2Phone, Ocular Biosciences, Philip Morris, Primedia, Pulaski Furniture, Quester Technology, TVG Technologies, Tyco International, Veritas Software, and Wal-mart.

MAIN REASONS FOR ACTIVITY

Technology stocks took a beating as the rotation called for by "influential analysts" continue. Internet and Biotechnology issues took the most hit. It was also a bad day for a "Dot Com" company to announce a merger or acquisition, as Neoforma and Healtheon/WebMD found out; Neoforma lost nearly 60% of its value today after the company announced a major acquisition.
Bed, Bath, and Beyond reported fiscal Q4 earnings that beat estimates; Bed, Bath, and Beyond was upgraded by ING Barings and First Union.
What a day to debut an IPO. However, Luminex pulled it off by closing higher than the offering price.
AT&T is negotiating to buy a stake in Net2Phone, a leading via internet long distance phone service provider; sources close to the negotiation value it at about $1 billion.
Carl Icahn is interested in buying 100 million shares of Nabisco. This will give him a 40% stake in the company.
CMGI and Liberty Media are investing about $400 million into Primedia.
A German Technology and Software firm is reported to be in talks to acquire Israel's TVG Technology.
US Gross Domestic Product (GDP) index, a good measure of inflation, rose a stronger-than-anticipated 7.3% in Q4 of 1999. The GDP Deflator, a broader measure of inflation in the economy, rose a lower-than-anticipated 1.9% in the same period. Many analysts are now forecasting a very strong GDP in Q1 of 2000; it now looks like the Federal Reserve has a long way to go in slowing the economy down.
AMD was upgraded and its price target raised by Robertson Stephens. The brokerage house is forecasting a strong second half for AMD.
Yahoo! reported that it is under a Federal Trade Commission (FTC) probe for its data collection practices. Yahoo! also made it known that it is a standard practice of the FTC to insure privacy. When it rain's, it pours!

PICKS FOR THE NEXT MARKET DAY

NASDAQ:

Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: Act Networks, Advanced Electronic Support Products (AESP), Akamai Technology, Alamosa PCS, AlpNet, Altera, Alysis Technology, Amgen, Anaren Microwave, Andover.Net, Apple, Applied Materials, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Ask Jeeves, AudioCodes Ltd., 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, Elan Corp. PLC, Emerge Interactive, Epicor Software, E-piphany, ePlus, Ericsson, EuroWeb, Excite@Home, Evolving Systems, Finisar, Foundry Networks, FreeMarkets.Com, GeoWorks, Glenayre Technologies, GRIC Communications, Hytek Microsystems, iBasis, Impsat Corp., Informix, Infosys Technologies, Inktomi, Intel, Internet Capital Group, Intuit, JDS Uniphase, Juniper Networks, Legato Systems, Linear Technology, Looksmart, Luminex, MCI Worldcom, Metasolv Software, Metrix One, Microsoft, Neoforma.Com, Net2Phone, Netsolve, New Tel, Niku Corp, Novell Networks, Novellus System, Onvia.Com, Optelecom, Oracle, Pac-West Telecomm, Paging Network, Palm, Panja, PFS Web, Portal Software, Qualcomm, Quantum Effect Devices, Red Hat, Register.Com, RiverDeep Group Plc., 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, UTStarcom, Va Linux, Venture Catalyst, Versata, 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, Kroger Co, 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, Philip Morris, Price Communications, Provident Bank, Prudential, Safeguard Scientifics, 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.

REASONS BEHIND THE PICKS

This herd mentality is creating good bargains in Biotechnology, Technology, and Internets (yes, Internets, like the ones selected below). Companies like Cisco, Microsoft, Oracle, Yahoo!, etc. will be here when faceless Dot Coms fold up, but the market don't seem to be differentiating right now. Tell us your views by posting them at our Discussion Forum.
Blue Chips like consumer products manufacturers, financials, and retailing will do well as the market continues to rotate.
Expect Technology, Internet ISPs, and Portal sites to perform very well.
Cable, Telecommunications, and Drugs (especially Biopharmaceutical) stocks will do well.
Internet holding and capacity (storage) companies will do very well (check out our Quarterly forecasts for other picks).

<---D158--->

MARKET SUMMARY FOR WEDNESDAY MARCH 29TH. 2000

DOW INDUSTRIAL: 11020.27 = +84.16

NASDAQ: 4644.68 = -189.21

S & P 500: 1508.52 = +0.79

MOST ACTIVE STOCKS & SECTORS

Here we go again! Another influential analyst (fund manager) issues caution and technology stocks (especially Internets) go tumbling. The Dow closed higher as blue chips became fashionable today. Gainers included: Advanced Marketing Services, Allied Waste, Avista, Barrett Resources, BellSouth, Benton Oil, Checkpoint, Chiquita, ChoiceTel Communications, Coca Cola, Comcast, Conoco, Dole Food Co., eMusic.Com, EOG Resources, Excite@Home, ExxonMobil, Federal Mogul, GE, Grupo Radio S.A., Hanaro Telecom, Hawks Industries, Hershey Foods, Home Depot, Input Software, Jupiter Communications, Louisiana Pacific, Margo Caribe, Merck, Morrison Management, Navigant Consulting, Pfizer, Procter & Gamble, Qualcomm, Telocity, Tidewater inc., TV Aztec, and Wal-mart.

MAIN REASONS FOR ACTIVITY

Technology stocks continued their downward spiral after another analyst and Fund Manager Mark Mobius warned that bloated internet stocks could crash; consumer products and food related stocks gained as funds fled to so-called "safety".
AT&T, in agreement with partner Comcast, is to increase its stakes in Excite@Home to 74%; under the terms, excite will drop plans of issuing a tracking stock for its media units.
Oil and energy stocks did well after OPEC agreed to increase production by 1.45 million barrels a day in other to push oil prices down.
Telocity and Hanaro Telecom debuted their IPOs today. Though the stocks closed above their opening prices, the gains weren't substantial due to a general NASDAQ sell off.
eMusic.Com is launching and co-branding a web site with AOL's ICQ, Winamp, and Spinner.Com.
Advanced Marketing Services board has approved an additional 350,000 shares buyback plan. An earlier plan for 300,000 shares buyback was announced in October 1999.
BellSouth announced that it is creating a tracking stock for its Latin America wireless units.
Dole Food Co. is not up for sale, the company reported. Dole also announced that it expects its fiscal Q1 earnings to be around 60 to 65 cents per share; First Call/Thomson Financial consensus estimated 49 cents a share, thus Dole will beat estimates by at least 11 cents a share.
Carl Icahn, the famous financial and his associates now control a 5.2% stake in Federal Mogul, the huge auto parts supplier; speculation is that the investment group will takeover the company, break it up, and sell piece by piece.
TV Aztec, the second largest broadcaster in Mexico, made it known that it is in talks with telecommunication companies, including Spain's Telefonica, on a deal involving Aztec's Phone and Internet units. Telefonica has made it clear its intention to use Aztec's Internet unit to reach the lucrative Hispanic market in the US.
US New Home sales dropped 1.0% in February to a seasonally adjusted 919,000 units. Analysts were expecting a larger drop, especially since the January figures were revised upward to an actual gain of 5.0%. At this current rate, the Federal Reserve might have to take more aggressive interest rake hike policy to sufficiently cool the market.
Cisco Systems, the world's largest networking equipment manufacturer, is paying $800 million for privately held SightPath inc., which makes software that manages and speeds up web content. Cisco has been moving aggressively in the web content management and e-learning arena by strategic acquisitions (55 so far); Cisco closed lower.

PICKS FOR THE NEXT MARKET DAY

NASDAQ:

Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: Act Networks, Advanced Electronic Support Products (AESP), Akamai Technology, Alamosa PCS, AlpNet, Altera, Alysis Technology, Amgen, Anaren Microwave, Andover.Net, Apple, Applied Materials, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Ask Jeeves, AudioCodes Ltd., 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, Elan Corp. PLC, Emerge Interactive, Epicor Software, E-piphany, ePlus, Ericsson, EuroWeb, Excite@Home, Evolving Systems, Finisar, Foundry Networks, FreeMarkets.Com, GeoWorks, Glenayre Technologies, GRIC Communications, Hytek Microsystems, iBasis, Impsat Corp., Informix, Infosys Technologies, Inktomi, Intel, Internet Capital Group, Intuit, JDS Uniphase, Juniper Networks, Legato Systems, Linear Technology, Looksmart, MCI Worldcom, Metasolv Software, Metrix One, Microsoft, Neoforma.Com, Netsolve, New Tel, Niku Corp, Novell Networks, Novellus System, Onvia.Com, Optelecom, Oracle, Pac-West Telecomm, Paging Network, Palm, Panja, PFS Web, Portal Software, Qualcomm, Quantum Effect Devices, Red Hat, Register.Com, RiverDeep Group Plc., 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, UTStarcom, Va Linux, Venture Catalyst, Versata, 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, Kroger Co, 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, Philip Morris, Price Communications, Provident Bank, Prudential, Safeguard Scientifics, 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.

REASONS BEHIND THE PICKS

It is true some Internet companies are over valued. However, the recent pronouncements by "respected analysts" might be an overkill, especially now that the major players in the sector are undergoing changes through mergers, alliances etc. Tell us your views by posting them at our Discussion Forum. We will have more on this topic on April 2nd. at our Quarterly Forecast of the World Economy page.
Expect Technology, Internet ISPs, E-Commerce, and Portal sites to perform very well.
Cable, Telecommunications, and Drugs (especially Biopharmaceutical) stocks will do well.
Internet holding and capacity (storage) companies will do very well (check out our Quarterly forecasts for other picks).

<---D157--->

MARKET SUMMARY FOR TUESDAY MARCH 28TH. 2000
DOW INDUSTRIAL: 10936.11 = -89.74

NASDAQ: 4833.89 = -124.67

S & P 500: 1507.73 = -16.13

MOST ACTIVE STOCKS & SECTORS

The markets closed lower as technology stocks take a beating after an influential analyst issues caution. Gainers included: American Express, Amgen, Anaren Microwave, Arrow Electronics, AudioCodes Ltd., Bank One, Capitol Bank, Cendant, Citigroup, CompleTel Europe NV, Delta Airlines, Excel Technology, Excite@Home, ICIC Bank Ltd., Intrabiotics, JDS Uniphase, Johnson & Johnson, JP Morgan, Juniper Networks, Kyocera, Linear Technology, Mail.Com, Merck, Metasolv Software, Microsoft, Mid Coast, Pfizer, Procter & Gamble, Protector One, Qualcomm, RiverDeep Group Plc., Southdown, StarTek, Teledyne Technology, UAL, UTStarcom, Vitesse Semiconductor, and Websense.

MAIN REASONS FOR ACTIVITY

The markets closed lower due to technology stocks, after Abby Joseph Cohen, the influential (and bullish) Chief Market Strategist for Goldman Sachs recommended investors shift funds from stocks to cash; the Yahoo! - ebay merger talks lack of progress didn't help either.
US District Court Judge Thomas Penfield Jackson gave Microsoft and the parties involved in the anti-trust lawsuit a one week extension to see if further progress could be made in a possible settlement. Do you think Microsoft deserve an extension, or even a settlement that doesn't call for its break up? post your opinions at BusinessJeeves.Com Discussion Forum
Juniper Networks introduced a new Internet backbone router called M160, which will be the fastest backbone router to date.
OPEC seem likely to raise production, and that was good news to airline stocks.
The Conference Board reported that, the US Consumer Confidence dropped for the second straight month in March to a lower-than-anticipated 136.7. February's figure was 140.8, down from the record 144 plus points in January.
Linear Technology is to join the S&P 500 index, the elite of the 500 largest publicly traded US companies.
The IPO market was hot today as Websense, Anaren Microwave, and CompleTel Europe NV debuted.
A market research shows that, AudioCodes Ltd., an Israeli provider of IP (Internet Protocol) telephony and Voice over (Vo) packet technologies (voice networks), dominates this industry sector with a 42% market share. The VoIP communications market is the hottest telecommunications market now.
AT&T announced plans to create a tracking stock for its wireless operations. AT&T is planning a 360 million share IPO that is expected to net $10.13 billion, the largest IPO in US history.
AFTER HOURS: Palm Computing reported fiscal Q1 earnings of 3 cents a share, 2 cents a share better than FirstCall's consensus estimates; Palm Computing is gaining in after hours trading.

PICKS FOR THE NEXT MARKET DAY

NASDAQ:

Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: Act Networks, Advanced Electronic Support Products (AESP), Akamai Technology, Alamosa PCS, AlpNet, Altera, Alysis Technology, Amgen, Anaren Microwave, Andover.Net, Apple, Applied Materials, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Ask Jeeves, AudioCodes Ltd., 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, Elan Corp. PLC, Emerge Interactive, Epicor Software, E-piphany, ePlus, Ericsson, EuroWeb, Excite@Home, Evolving Systems, Finisar, Foundry Networks, FreeMarkets.Com, GeoWorks, Glenayre Technologies, GRIC Communications, Hytek Microsystems, iBasis, Impsat Corp., Informix, Infosys Technologies, Inktomi, Intel, Internet Capital Group, Intuit, JDS Uniphase, Juniper Networks, Legato Systems, Looksmart, MCI Worldcom, Metasolv Software, Metrix One, Microsoft, Neoforma.Com, Netsolve, New Tel, Niku Corp, Novell Networks, Novellus System, Onvia.Com, Optelecom, Oracle, Pac-West Telecomm, Paging Network, Palm, Panja, PFS Web, Portal Software, Qualcomm, Quantum Effect Devices, Red Hat, Register.Com, RiverDeep Group Plc., 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, UTStarcom, Va Linux, Venture Catalyst, Versata, 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, Kroger Co, 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, Philip Morris, Price Communications, Provident Bank, Prudential, Safeguard Scientifics, 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.

REASONS BEHIND THE PICKS

We expect technology stocks to revive before the week is over. Many investors are over reacting to the comments made by Abby Cohen. We feel the economy is showing signs of a slow down, but many sectors like Biotechnology and Technology (especially storage, Internet hosting and networking) stocks are undervalued - thus a time to buy. What do you think? Post your opinions at BusinessJeeves.Com Discussion Forums.
Microsoft will be a good buy despite the anti-trust dilemma. If the company is broken up, investors will gain; if it is left intact, investors still win. give us your view at BusinessJeeves.Com Discussion Forums.
Expect Technology, Internet ISPs, E-Commerce, and Portal sites to perform very well.
Cable, Telecommunications, and Drugs (especially Biopharmaceutical) stocks will do well.
Internet holding and capacity (storage) companies will do very well (check out our Quarterly forecasts for other picks).

<---D156--->

MARKET SUMMARY FOR MONDAY MARCH 27TH. 2000

DOW INDUSTRIAL: 11025.85 = -86.87

NASDAQ: 4958.56 = -4.47

S & P 500: 1523.86 = -3.60

MOST ACTIVE STOCKS & SECTORS

The markets closed lower due mostly to profit taking. Gainers included: 3Com, Amgen, AOL, Applied Materials, Argus Holding, AT&T, AutoWeb.Com, Bank One, Biora AB, BitStream Inc, Broadbase Software, Cabletron System, Cendant, Chyron Corp, Cisco Systems, Compaq, Cross Timbers, Dell, Disney, Eastman Chem, EnvironTech, E*Trade, Exchange Applications, Excite@Home, Fairchild Semiconductor, Florida Power & Light (FPL), Gadzoox Networks, General Magic, IBM, IManage Inc, Incara Pharmaceuticals, Intel, Iroquois BanCorp, Legato Systems, Lucent Technologies, MCI Worldcom, NBC Internet, Nike, Niku, Oracle, Precision Cast, Qualcomm, Qwest Communications, Rare Medium, SBC Communications, Seagram Co. Ltd., SpyGlass, StarTek, Sun Microsystems, Talk.Com, TD Waterhouse, Teledyne Tech., Titan, Trex Co., TRW, TVG Technology, Unisys Corp, Wave System Corp, Xiox Corp, and Yahoo!

MAIN REASONS FOR ACTIVITY

Some profit taking in financial stocks pushed the markets lower, despite a strong showing in Technology stocks; the Dow closed lower primarily due to the uncertainty surrounding Microsoft (see below).
AutoWeb.Com announced that its fiscal Q1 losses will be less than anticipated; AutoWeb also announced a strategic alliance with CarsDirect.Com, a privately held competitor.
Wave Systems Corporation and AMD are to integrate new security functions for commercial and consumer computers, so as to give users a stronger control over their privacy.
IBM and Qwest communications have signed a range of agreements to deliver e-commerce services using Qwest's Internet Data Centers; separately, IBM was upgraded by Morgan Stanley Dean Witter, while Qwest was upgraded by AG Edwards.
Titan is to acquire privately held Averstar in a deal valued at $154 million.
TD Waterhouse was upgraded by Morgan Stanley Dean Witter.
Incara Pharmaceuticals received a "notice of allowance" from the US patent and Trademark office for a patent to treat some inherited metabolic and liver diseases.
Eastman Chemical was upgraded by Merrill Lynch.
Banc One named James Dimon of the Citigroup fame, as its new CEO.
Iberdrola SA, a Spanish power company, is in talks to acquire Florida Power & Light (FPL).
Deutsche Telecom is interested in acquiring Unisys, so reports a German Magazine.
IManage was upgraded by CE Unterberg Towbin.
Goldman Sachs upgraded Broadbase Software and Niku.
CS First Boston upgraded Verisign and Rare Medium; CS First Boston also raised the price target for Rare Medium.
SpyGlass is to be acquired for $2.5 billion by OpenTV.
Paine Webber upgraded Intel.
Nike was upgraded by Banc of America Securities.
Talk.Com is paying $200 million for Access One Communications.
US Existing home sales rose a slightly lower-than-anticipated 7% in February to a seasonally adjusted 4.75 million units. This was a modest recovery from January's sales drop of 13.4%.
MICROSOFT CASE: Microsoft's new proposal in its anti-trust trial includes plans to imbed competitor's products into its own. The new 10 page proposal is been discussed among the 19 State Attorney Generals and the US Justice Department. Due to this proposal, many parties involved are speculating a delay in the Judge's decision. Separately, the presiding Judge, US District Court Judge Thomas Penfield Jackson made it known to some lawyers involved that he intends to announce his decision on Tuesday. A decision most believe will be tough on Microsoft. What do you think? give us your opinions at BusinessJeeves.Com Discussion Forum

PICKS FOR THE NEXT MARKET DAY

NASDAQ:

Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: Act Networks, Advanced Electronic Support Products (AESP), Akamai Technology, Alamosa PCS, AlpNet, Altera, 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, Elan Corp. PLC, Emerge Interactive, Epicor Software, E-piphany, ePlus, Ericsson, EuroWeb, Excite@Home, Evolving Systems, Finisar, Foundry Networks, FreeMarkets.Com, GeoWorks, Glenayre Technologies, GRIC Communications, Hytek Microsystems, iBasis, Impsat Corp., Informix, Infosys Technologies, Inktomi, Intel, Internet Capital Group, Intuit, JDS Uniphase, Juniper Networks, Legato Systems, Looksmart, MCI Worldcom, Metrix One, Microsoft, Neoforma.Com, Netsolve, New Tel, Niku Corp, Novell Networks, Novellus System, Onvia.Com, Optelecom, Oracle, Pac-West Telecomm, Paging Network, Palm, Panja, PFS Web, Portal Software, Qualcomm, Quantum Effect Devices, Red Hat, Register.Com, 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, UTStarcom, Va Linux, Venture Catalyst, Versata, 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, Kroger Co, 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, Philip Morris, Price Communications, Provident Bank, Prudential, Safeguard Scientifics, 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.

REASONS BEHIND THE PICKS

Microsoft will be a good buy despite the anti-trust ruling. If the company is broken up, investors will gain; if it is left intact, investors still win. give us your view at BusinessJeeves.Com Discussion Forums.
Expect Technology, Internet ISPs, E-Commerce, and Portal sites to perform very well.
Cable, Telecommunications, and Drugs (especially Biopharmaceutical) stocks will do well.
Internet holding and capacity (storage) companies will do very well (check out our Quarterly forecasts for other picks).

<---D155--->

MARKET SUMMARY FOR FRIDAY MARCH 24TH. 2000

DOW INDUSTRIAL: 11112.72 = -7.14

NASDAQ: 4963.03 = +22.42

S & P 500: 1527.46 = +0.11

MOST ACTIVE STOCKS & SECTORS

The markets closed mixed. Gainers included: 3M, Amazon.Com, AmeriTrade, AOL, Applied Materials, AT&T, Broadbase Software, Brunswich, Charles Schwab, Chyron Corp, Cisco Systems, DLJ Direct, ebay, Epcos AG, Eprise Corp, E*Trade, GoTo.Com, HomeStore.Com, IBM, Infonet Services, Intermune Pharmaceutical, Jabil Circuit, Knight/Trimark, Micron Tech, Mitel, Moore Corp, Multiple Zones International, National Discount Brokers (NDB), NetGuru, Nortel Networks, Oracle, Philip Morris, Qualcomm, QXL.Com, SCI Systems, Silicon Labs, Sun Microsystems, Switchboard, TD Waterhouse, Tyco International, UPS, WIT Capital, and Yahoo!

MAIN REASONS FOR ACTIVITY

The markets closed mixed due primarily to profit taking and Biotechnology stocks. The Dow gave back over 7 points, while the NASDAQ gained over 22 points, despite a disappointing Biotechnology sector; the S&P 500 gained only a fraction, and to yet another record after yesterday's.
Semiconductor stocks were hot.
Piper Jaffray issued positive comments on AmeriTrade and E*Trade; online brokerage companies have seen tremendous traffic growth, and most analysts are issuing good comments about the sector.
Speculation is that Mitel Corp. of Canada might sell off its telecommunications units to either Alcatel or Cisco Systems, and concentrate on its booming semiconductor business; CIBC and RBC Dominion Securities, two very large Canadian brokerage houses, upgraded Mitel.
US Durable goods orders for February dropped 2.3%.
Microsoft selected Multiple Zones International as its premier products distributor.
Silicon Labs' IPO debuted today and closed hot, while Viasystems Group IPO was a flop.
IBM announced that it will start making chips for TV top boxes.
The Judge in Microsoft's anti-trust trial is set to make his ruling this Tuesday, if the mediator or both parties (Microsoft and Justice Dept.) have nothing further to add. This prompted Microsoft to present a new proposal that outlines ways to curb its trade practices, in hopes of avoiding a breakup.
Bear Sterns upgraded Tyco International.
Yahoo! and ebay have resumed their merger talks.
HomeStore.Com and GMAC, the financing arm of GM, have signed a 2-year agreement; First Union upgraded HomeStore.Com.
Morgan Stanley Dean Witter had positive comments about 3M.
CS First Boston upgraded Jabil Circuit.
Lehman Brothers upgraded Epcos AG and SCI Systems; Lehman also raised the price target for SCI Systems.
Cisco Systems announced it has completed the acquisition of Growth Networks and Compatible Systems. As of today's market close, Cisco Systems overtook Microsoft as the company with the highest market capitalization at $579.12 billion (Microsoft is $578.21 billion).

THE "DAILY BREAD" FOR THE MARKET

Daily Morning Insights on the Market