Daily market summary and stock picks

THE "DAILY BREAD" FOR THE MARKET

Daily Morning Insights on the Market

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MARKET SUMMARY FOR FRIDAY APRIL 14TH. 2000

DOW INDUSTRIAL: 10305.77 = -617.78

NASDAQ: 3321.29 = -355.49

S & P 500: 1357.31 = -83.20

MOST ACTIVE STOCKS & SECTORS

It was a bloody day on Wall Street as economic data sent an already vulnerable and skeptic markets to close at all time lows. The Dow lost 5% of its value today, while NASDAQ has lost over 30% of its value after today. The Wilshire 5000, a broader index that is not covered on this site, lost a whopping 890 points! Gainers included: Allegiance Telecom, Ashanti Goldfields, Battle Mountain, Barrick Gold, Colonels International, Compudyne Corp, Curtis International Ltd., Genesis Worldwide, Harrahs Entertainment, Homestake Mining, Peapod, Placer Dome, Sportsman Guide, Tele Celular Sul, and Tele Norte Celular.

MAIN REASONS FOR ACTIVITY

US Consumer Price Index (CPI), a broader measure of consumer inflation, rose 0.7% in March. Analysts expected a growth of 0.5%. The core CPI, which excludes the volatile energy and food sectors, rose an astonishing 0.4% in the same period, literally doubling Economists' forecasts, and February's growth of 0.2%. What does this mean? The Federal Reserve will have to take more aggressive steps (higher interest rate hikes) to cool the economy. For more on the Federal Reserve's monetary policy, visit our Federal Reserve Monetary Policy Page. We welcome your comments at our Discussion Forums
Bonds and Treasury notes rose as investors sought safer havens for their money.
Gold related issues also gained, while retail and financial stocks were the hardest hit.
Royal Ahold, the Dutch grocery chain company, is paying $73 million for a substantial stake in Peapod, the financially strapped online grocery delivery company.
Allegiance Telecom was upgraded, and its price target raised by CIBC Worldmarkets.
Ford Motor Co. announced that it is spinning off Visteon, its parts subsidiary, as early as Summer of this year.
MicroStrategy's accounting practices are to be reviewed by the Federal Trade Commission (FTC).
The National Association of Securities Dealers (NASD), the governing unit of the NASDAQ stock exchange, voted 84 to 16 to turn the exchange into a for profit exchange.
AFTER HOURS: The major Technology stocks are gaining aggressively in after hours trading. Check our ECN page for more details.

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, Immunex, 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, Numerical Technologies, 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, Celera Genomics, 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

Once again: Read our market summary above, then read our recommendations below. Enough said.
Bargains! Bargains! Bargains! Don't follow the herd, profit from the market's panic. Click here to read our quarterly forecast, and views on highly undervalued companies. As always, we want to hear your point of view at our Discussion Forums.
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).

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MARKET SUMMARY FOR THURSDAY APRIL 13TH. 2000

DOW INDUSTRIAL: 10923.55 = -201.58

NASDAQ: 3676.78 = -92.85

S & P 500: 1440.51 = -26.66

MOST ACTIVE STOCKS & SECTORS

The free fall continued today on both the NASDAQ and the Dow. Gainers included: 3Com, AdminiStaff, AT&T, AVX Corp, Biogen, Blaze Software, Cephalon, Compaq, Compuware, Corilian Corp, Cummins Engine, Dell, Eli Lilly, Exodus Communications, FleetBoston Financial, GenesisIntMedia, Global Crossing, GM, Infonet Services Corp, KLA Tencore, Meade Instruments, Metlife, Motorola, Nuance Communications, OmniCare, PE Corp, Philip Morris, Qualcomm, Rockwell International, Sepracor, Shared Medical Systems, Sina.Com, Texas Instruments, Three Five Systems, Vasco Data

MAIN REASONS FOR ACTIVITY

The bloodletting of technology and Internet stocks continued today, despite good earnings reports (see below).
Sun Microsystems reported fiscal Q3 earnings that beat First Call consensus estimates by 3 cents a share; Sun closed lower.
Gateway's earnings met estimates; Gateway Closed lower, but creeping up in after hours trading on Instinet.
AmeriTrade's fiscal Q2 earnings were 2 cents a share, beating analysts' estimates of 4 cents a share LOSS; AmeriTrade closed lower.
AMD reported that fiscal Q1 earnings beat estimates by a whopping 57 cents a share; DB Alex Brown upgraded and raised the price target for AMD, and Merrill Lynch, Goldman Sachs, and Chase H&Q raised its price target too; AMD closed lower.
Cummins Engine's fiscal Q1 net income rose a whopping 75% to $42 million.
AVX Corp's net income for fiscal Q4 rose to 80 cents a share verses the previous 9 cents a share.
IPOs today (and their percent gains in brackets): Nuance Communications (100%), AsiaContent.Com (17%), Corilian Corp (55%), Sina.Com (22%).
Bausch & Lomb's fiscal Q1 earnings beat estimates by One cent a share.
Vasco Data maade its Debut on the EASDAQ (Europe's NASDAQ) today.
Eli Lilly got the Federal Trade Commission's permission to develop and market Fluoxetine, an improved version of its popular antidepressant Prozac, developed by the biotechnology firm Sepracor.
Three Five Systems was upgraded by Needham & Co. and ING Barings.
Omnicare was upgraded by CS First Boston.
FleetBoston Financial reported fiscal Q1 earnings that beat estimates by 7 cents a share; DB Alex Brown also upgraded FleetBoston.
GE reported fiscal Q1 earnings that beat estimates by One cent a share.
GM's fiscal Q1 earnings beat estimates by 14 cents a share.
Honeywell's fiscal Q1 earnings beat estimates by One cent a share.
KLA Tencore's fiscal Q1 earnings beat estimates by 5 cents a share.
Marriott's fiscal Q1 beat estimates by One cent a share.
Rockwell reported that fiscal Q1 earnings beat estimates by 2 cents a share.
US Producer Price Index (PPI), a broad measure of inflation in manufacturing, rose 1.0% in March, twice what analysts expected. The Core PPI gained a modest 0.1%.
US retail sales rose well stronger than expected at 0.4% in March. Core retail sales rose a whopping 1.4% in the the same period. What does this mean? Expect interest rate hikes in the coming meeting of the Federal Reserve FOMC.
Microsoft is to take a stab at the handheld devices market one more time. Next week, Microsoft will introduce its "Pocket PC" co developed with Hewlett-Packard, Compaq and Casio. The new device will run on a jazzed up Windows CE platform.
e-tailing stocks are under pressure as Amazon.Com closed lower after reporting a 12% increase in traffic. Companies like Buy.Com weren't spared either. Post your comments at our Discussion Forum

Read our market summary above, then read our recommendations below. Enough said.
Bargains! Bargains! Bargains! Don't follow the herd, profit from the market's panic. Click here to read our quarterly forecast, and views on highly undervalued companies. As always, we want to hear your point of view 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).

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MARKET SUMMARY FOR WEDNESDAY APRIL 12TH. 2000

DOW INDUSTRIAL: 11125.13 = -161.95

NASDAQ: 3769.63 = -286.27

S & P 500: 1467.17 = -33.42

MOST ACTIVE STOCKS & SECTORS

The NASDAQ had its second worst day on record today. Internets, Technology and Biotechnology stocks took a beating despite better-than-expected earnings reports; the Dow also lost. Gainers included: Agco, AKsys Ltd., AMD, American Freightways, Avon, Banc of America, Ben & Jerry's Homemade, Biogen, Coca Cola, DDI Corp, Delphi Automotive, Dendrite International, Dow Jones, Enron, Ford Motor Co., Forward Air Corp, GM, HealthSouth, JP Morgan, Kroger, MBNA, Metlife, Res-Care inc., Wacoal, and Yahoo!

MAIN REASONS FOR ACTIVITY

AMD reported that revenues for fiscal Q1 jumped a whopping 73%, thanks to the Athlon processor. Profit for Q1 was at $1.15 per share, almost doubling analysts' estimates.
Unilever is paying $366 million to acquire Ben & Jerry's Homemade Ice Cream.
American Freightways' fiscal Q1 earnings beat estimates by 11 cents a share; DB Alex Brown upgraded American.
Avon announced that its fiscal Q1 earnings will beat estimate, and that Q1 revenue rose about 9%.
Fannie Mae's fiscal Q1 earnings beat estimates by One cent a share.
Dow Jones reported fiscal Q1 earnings that beat estimates by 8 cents a share.
Delphi Automotive reported fiscal Q1 earnings that beat estimates by One cent a share.
Enron's fiscal Q1 earnings beat estimates by 3 cents a share.
JP Morgan's fiscal Q1 earnings beat estimates by a whopping $1.56 a share.
MBNA met its earnings estimates.
E*Trade broke even in fiscal Q2. Analysts were projecting a loss of 16 cents a share; E*Trade closed lower.
Genentech's fiscal Q1 beat estimates by 2 cents a share; Genentech closed lower.
CheckPoint reported that fiscal Q1 earnings beat estimates by 5 cents a share; CheckPoint closed lower.
Apple Computer was upgraded by Banc of America Securities; Apple closed lower.
Microsoft lost about 5.4% after Goldman Sachs lowered its revenue estimate.
AFTER HOURS: Ariba, one of the major Business to Business (B2B) portals, reported that its profits grew 322% in fiscal Q2, while losses were well lower-than-anticipated; Ariba is rising in after hours trading. Click here to read our forecast for Ariba and B2B. If you already read it and benefited, post your comments at our Discussion Forum

Read our market summary above, then read our recommendations below. Enough said.
Bargains! Bargains! Bargains! Don't follow the herd, profit from the market's panic. Click here to read our quarterly forecast, and views on highly undervalued companies. As always, we want to hear your point of view 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).

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MARKET SUMMARY FOR TUESDAY APRIL 11TH. 2000

DOW INDUSTRIAL: 11287.08 = +100.52

NASDAQ: 4055.90 = -132.30

S & P 500: 1500.59 = -3.87

MOST ACTIVE STOCKS & SECTORS

The NASDAQ continue to slide as a major Technology company issues an earnings warning. The Dow gained as blue chip stocks report spectacular earnings. Gainers included: Active Apparel, AK Steel, AmeriSource Health, Applied Materials, Baker Hughes, Broadvision, Bookham Technology, BP Amoco Plc., CareMark RX, Citigroup, Coca Cola, Continental Information Systems, Cooper Cameron, DDI Corp, Dell, Disney, Ensco International, Fairchild Semiconductor, Firstar Corp, GE, Healthstream, Immunex, Jos A Bank Clothiers, Lucor inc, Millenium, Noble Drilling, Nova Measuring, Olin Corp, PanAmSat, Pharmacia, Precision Standard, Rare Hospital, Rite Aid, Rural/Metro, SBC Communications, Schering-Plough, Station Casino, Terayon, Total Renal Care, Trizetto Group, Veba AG, Veramark Tech, VF Corp, Waste Systems, and Will Lyon Homes.

MAIN REASONS FOR ACTIVITY

Technology stocks continue to be under pressure after Motorola gave an earnings warning for fiscal Q2 at 3 cents a share shy of estimates.
Biotechnology took a further stumble after Viropharma's "multipurpose" drug Pleconail, a drug for treating colds, influenza, Polio, etc. wasn't approved by the Food and Drug Administration (FDA).
Immunex, a major Biotechnology company, received FDA approval for Enbel, an early stage Rheumatoid Arthritis drug.
Bookham Technology Plc., a fiber optic maker, debuted as a hot IPO today; Healthstream, Nova, and DDI Corp. also debuted today, but had a less than stellar performance (they closed positive though).
Rite Aid, the financially troubled Drugstore chain, announced it has received a commitment for a secure credit of One Billion Dollars from Citibank. The company also announced that JP Morgan will convert its $200 million debt into Rite Aid shares at $5.50 per share; Rite Aid gained more than 28%.
Station Casino had a remarkable day. Station's fiscal Q1 earnings beat estimates by 9 cents; Moody's upgraded its credit standing from stable to positive, while Goldman Sachs upgraded the stock.
Salomon Smith Barney raised its earnings estimates on AK Steel.
Jos A Bank Clothiers had a comparative store sales increase of 7.3% in March!
Active Apparel's fiscal Q1 earnings grew 77% to 16 cents a share, whiles sales rose 44% to $8 million.
Rare Hospital's fiscal Q1 earnings will beat estimates by about 11 cents a share, the company reported.
SunTrust Bank's fiscal Q1 earnings will beat estimates by a cent.
PanAmSat, the satellite company's fiscal Q1 earnings will beat estimates by 19 cents a share.
E.W. Scripps, the publishing company's fiscal Q1 will beat estimates by 6 cents a share.
Abbot Labs and Ratheon are announcing that they will meet earnings estimates.
Terayon's fiscal Q1 earnings beat estimates; Terayon also set a date for its stock split.
GlobalStar and Qualcomm demonstrated their mobile net access system in Rio de Janeiro today. The two companies expect a limited version of their web access system to be on the market this summer; both stocks closed lower.

Bargains! Bargains! Bargains! Don't follow the herd, profit from the market's panic. Click here to read our quarterly forecast, and views on highly undervalued companies. As always, 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).

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MARKET SUMMARY FOR MONDAY APRIL 10TH. 2000

DOW INDUSTRIAL: 11186.56 = +75.08

NASDAQ: 4188.20 = -258.25

S & P 500: 1504.46 = -11.89

MOST ACTIVE STOCKS & SECTORS

The NASDAQ closed lower as earnings fears sweep the markets. Technology, Internets and Biotechnology had the major casualties; the Dow gained as some blue chip stocks rallied. Gainers included: 3Com, Artificial Life, Beyond.Com, Bluegreen Corp., CDNow.com, Celular Tech, Cendant, Chase Manhattan, Citigroup, Citrix Systems, Conseco, Cryolife, DaimlerChrysler, Ebenx inc., FedEx, First Security Corp, Ford Motor Co., GE, Goodyear Tire, Handleman Co., International Paper, JC Penny, Metlife, MGIC Investment Corp, Netcentives, Numerical Technologies, Parametric, Peregrine System, Pervasive Software, Pfizer, Pharmacia, Procter & Gamble, SGL Carbon, TD Waterhouse, Tellabs, Total Renal Care, and Wal-mart.

MAIN REASONS FOR ACTIVITY

Technology stocks continue to be under pressure, especially this "earnings reporting" week. Biotechnology took a stumble after Biogen reported earnings below estimates. Stocks like Beyond.Com and CDNow.Com which have been depressed lately, staged a surprising rally today.
Safeguard Scientifics, a major Internet Venture Capital source, announced today its intention to stop investing in Business to Business (B2B) stocks, but concentrate on "infrastructure" related companies; B2B stocks had serious losses. Most analysts believe the B2B field is overcrowded. What do you think? Post your opinions at our Discussion Forums.
CMGI is buying a 4.9% stake in Netcentives, the e-commerce customer loyalty company. CMGI also plans to use Netcentives' loyal system on its network of 70 web sites.
Pervasive Software rose about 25% after Kevin Landis of Firsthand Funds made positive remarks and recommendations on CNBC.
3Com is to license routing technology from Hitachi, so as to compete with Cisco Systems and Juniper Networks in high speed Internet Networks.
Motorola's fiscal Q1 earnings beat estimates by a cent.
Numerical Technologies, a chip designing company, is to team up with Cadabra Design Automation to set up libraries of high performance chip designs.
Goodyear Tire reported that its plan to increase profitability seems to be working. Goodyear also made known that it has raised prices globally up to 5.5% in some countries.
Handleman Company, a major music distributer, announced that it will start distributing music online. Handleman is also going to provide on-demand Internet music downloads.
Credit Suisse First Boston downgraded Intuit, the personal financial software behemoth.
FedEx was upgraded by Bear Sterns.
TD Waterhouse was upgraded by Goldman Sachs.
Citrix Systems was upgraded by PaineWebber.
Pfizer gained after Uprima, the only credible competition to its hot selling VIAGRA was recommended for FDA approval under the conditions of a strong warning about its side effects.

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, Numerical Technologies, 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, Celera Genomics, 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

Technology and Biotechnology stocks are about to stage a come back. We are continuing to recommend our picks below.
Bargains! Bargains! Bargains! Microsoft and Yahoo! may never be this cheap again. For more on Microsoft and Yahoo!, click here. to read our quarterly forecast, and views on these highly undervalued companies. As always, 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).

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MARKET SUMMARY FOR FRIDAY APRIL 7TH. 2000

DOW INDUSTRIAL: 11111.48 = -2.79

NASDAQ: 4446.45 = +178.89

S & P 500: 1516.35 = +15.01

MOST ACTIVE STOCKS & SECTORS

Technology stocks soared as the NASDAQ closed above 178 points; the Dow eased back due to some profit taking. Gainers included: 3Com, Agilent Technologies, Alcoa, AMD, AOL, Applied Materials, AT&T, Cabletron Systems, Cisco, Cognos, Compaq, Conexant System, Corning inc., Dell, EMC Corp, Exar Corp, FairMarket, Go America, Healtheon/WebMD, iBasis, IBM, ICIC Ltd., InfoSpace, Inktomi, Intel, InterTrust Tech, JDS Uniphase, JP Morgan, Jupiter Communications, Matrix One, MBNA, MCI Worldcom, Medical Manager, Microsoft, Numerical Technologies, Oracle, Parametric, Pfizer, PSI Net, Qualcomm, Research in Motion, Saba Software, Safeguard Scientifics, SDL, Seagate Technologies, Starbucks, Sun Microsystems, Three Five Systems, and Xerox.

MAIN REASONS FOR ACTIVITY

Technology stocks rallied as NASDAQ scrambles to recover the historic losses experienced at the start of the week; the Dow wasn't spared, as it closed lower due to profit taking.
Two major IPOs debuted today. Numerical Technologies, a chip design software company, was hot and highest percent gainer on the NASDAQ. The other IPO was Go America, a wireless ISP company, although closed higher, the IPO wasn't as hot as expected.
The Canadian Government is to invest $23.3 million into Research in Motion's Wireless R&D project.
Jim Clark of the Silicon Valley fame and John Doerr, the Venture Capitalist, are investing $220 million into Healtheon/WebMD.
Qualcomm was upgraded by Prudential Volpe.
Lehman Brothers and Prudential Securities upgraded Safeguard Scientifics; Lehman Brothers also raised the price target for Safeguard.
MBNA is forecasting that it will meet fiscal Q1 earnings estimates.
SDL was upgraded by Thomas Weisel Partners.
Prudential Securities raised the price target for Cognos.
Matrix One was upgraded by Goldman Sachs.
Jupiter Communications was upgraded by Donaldson, Lufkin, and Jenrette (DLJ).
Hewlett-Packard is distributing its 84% stake in Agilent Technologies to Hewlett-Packard share holders.
US Consumer Credit rose a whopping $12 billion in February, about $2 billion more than anticipated. This is the Fourth month in a row that Consumer Credit has posted strong growth and also outstripped income growth. This puts a squeeze on lower income families in form of payment burden.
US March net Job gains were 416,000 - slightly higher than analysts forecasted.
AFTER CLOSE: PSI Net announced that it has filed to more than quadruple its outstanding shares; Oracle also announced it has filed to almost Triple its outstanding shares.

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, Numerical Technologies, 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,