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THE "DAILY BREAD" FOR THE MARKET

 

Daily Morning Insights on the Market

<---D320--->

MARKET SUMMARY FOR THURSDAY NOVEMBER 16TH. 2000


  DOW INDUSTRIAL: 10656.03  = -51.57

NASDAQ: 3031.88  = -133.61

S & P 500: 1372.31  = -17.50

MOST ACTIVE STOCKS & SECTORS



The markets eased today. After a major downgrade in the technology sector, Q4 earnings concerns, the weariness about the Federal Reserve's tough inflation languages and the presidential elections uncertainty, the rally of the last 2 days finally stopped. Trading volume was moderate - an indication most investors are still on the sidelines waiting for the elections and other uncertainties to subside. Gainers included: AT&T, AT&T Liberty, Barnes & Noble, Biocryst Pharmaceuticals, Broadvision, Chase Manhattan, China South Airlines, Citigroup, Citrix Systems, Clarion Technologies, COR Therapeutics, Dell, Delphi International, Elxsi, Fritz Company, GE, Hancock Fabrics, Healthsouth, Home Financial Bancorp, Horizon Health, Ibeam Broadcasting, Il Fornaio, International Aluminum, Lone Star Technology, Media Arts, Men's Wearhouse, MP3.Com, Peapod, Pfizer, Phillips-Van Heusen, Plantronics, PSINet, Qualcomm, Register.Com, RehabCare, Rent-Way, SonicWall, Sound Advice, Starwood Hotels, Too inc., Triton Network Systems, VA Linux, Viacom, WorldPages.Com, and Yanzhou.

MAIN REASONS FOR ACTIVITY

  • US Jobless Claims for week ending November 11th. fell 20,000 to 326,000. The 4-week moving average rose again to 322,000 - the highest in 2 months. 

  • The National Association of Home Builders (NAHB) Housing Market Index for November stood at 65 - the highest level in over 2 quarters. Single Family home sales rose 3 points to 72. Traffic of Potential buyers held steady at 46, and the 6 month single family homes sales projection also held steady at 72.

  • The US Consumer Price Index (CPI), a good measure of consumer inflation, grew a moderate 0.2% in October, thanks to lower oil prices. Core CPI, which excludes volatile energy and food sectors, also gained only 0.2%.

  • The Philadelphia Fed Survey, a good measure of manufacturing activity in the Philadelphia Federal Reserve District, grew a whopping 5.2% in November. Shipments, New Orders, and Unfilled Orders indices all rose, while Prices paid & received, Number of Employees, and 6 month outlook indices declined. What does this data mean? It means the economy is pretty tame, but inflation still has potential to flare up. Visit our Federal Reserve Monetary Policy Analysis page to read more on the Federal Reserve FOMC meeting. Also, visit our expanded message boards to discuss this topic or any other business topic by clicking here.

  • TheStreet.Com announced that it is cutting 40 jobs in its US operations, it is also closing down its UK operations, and stopping its news gathering alliance with the Wall Street Journal as it tries to speed up to profitability. The reduction in staff represents a 20% reduction for the troubled financial content site. TheStreet.Com lost 15.18%.

  • Semiconductor stocks lost heavily after Merrill Lynch analyst Joe Osha downgraded the 5 major communications chip makers: Applied Micro Circuits, Broadcom, PMC-Sierra, Transwitch, and Vitessee Semiconductor. Mr. Osha stated that the sector is holding excess inventory above norm. All 5 stocks were downgraded to a "buy" recommendations, and lowered their 12-18 months price targets. Other technology stocks also lost on this news.

  • Italian Bakery and Restaurant chain Il Fornaio (America) Corp. announced that it is to be bought by Bruckmann, Sherill, & Company for $14 a share. Il Fornaio gained 36.24% to close at 12 11/16.

  • Horizon Health gained 14.49% after announcing that its board has approved a 1 million common stocks repurchase plan.

  • Clarion Technologies gained 37.14% after posting fiscal Q3 sales increase of 440%.

  • Sound Advice, a Florida upscale electronics retailer, gained 21.15% after announcing that it has cancelled its secondary stock offering plans.

  • Mens Wearhouse gained 7.11% after posting fiscal Q3 earnings increase of 29%.

  • Barnes & Noble gained 11.63% after posting a fiscal Q3 loss that was well lower than First Call estimated.

  • AFTER CLOSE: VA Linux, a Linux software vendor, reported fiscal Q3 earnings that were in line with estimates. Revenues doubled for the period. VA Linux is gaining in after hours trading.

  • AFTER CLOSE: PSINet reported fiscal Q3 earnings that were in line with First Call estimates. PSINet is gaining in after hours trading.

  • AFTER CLOSE: AutoDesk and Semtech both reported earnings that were 1 cent better than First Call estimates. Both stocks are gaining in after hours trading.

  • AFTER CLOSE: Dallas Semiconductor is losing in after hours trading after announcing that its Chairman died due to a Heart Attach.

  • NOTE: Our Q4 Quarterly forecast is out.

  • TRY THIS NEW SERVICES OUT: Checkout our HOT U.S. Cities and Counties Procurement Bids & Small Business Funding Resources page. If you are new, we now have a WEEKEND NEWS update to keep you properly informed for the next market day.

  • JOIN THE DISCUSSIONS: Due to the immense popularity this column has received recently, and the willingness of our guests to communicate with each other, we have expanded our message boards so as to serve you better. Please check out (and post on) our NEW expanded message boards here.


PICKS FOR THE NEXT MARKET DAY

 

REASONS BEHIND THE PICKS

  • The economic data today wasn't bad. We expect a positive (delayed) reaction tomorrow.

  • There is no better time for bargain hunting than now! Check out our recommendations below:

  • REITERATION: The battered Technology, Internet, and Biotechnology stocks ARE looking very attractive now. Non-PC chip makers, software and networking gear companies especially. We are still holding our picks though. Give us your views on this observation  here.

  • STOCKS TO WATCH NEXT MARKET DAY: Biotechnology and Biopharmaceutical stocks, Yahoo!, Microsoft, Fiber Optics, Networking, technology, Internet and Financial stocks.

  • Expect the major Internet Portal sites to perform very well.

  • Internet holding and capacity (storage) companies will do very well (check out our Quarterly forecasts for other picks).



NASDAQ:

 Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: 3 Dimensional, Accelerated Networks, Act Networks, Active Power, Advanced Electronic Support Products (AESP), Advanced Power Technology, Akamai Technology, Alamosa PCS, AlpNet, Altera, Alysis Technology, Amdahl, American Medical Systems, Amgen, Amtech Systems, Anaren Microwave, Andover.Net, Apple, Applied Materials, Applied Molecular, Arena Pharmaceuticals, Argonaut Technologies, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Arrowpoint, Art Technology Group, Ask Jeeves, Atherogenics, AudioCodes Ltd., Avanex Corp., Avici Systems, Axent Technology, Be Incorporated, Biospherics, Bruker Daltonic, Calypte Biomedical, Cavion Technology, Cellular Technical, Centillum Communications, Centra Software, Centura Software, Charter Communications, Chordiant Software, Cisco Systems, Clarus Corp., ClearNet Communications, CMGI, Cobalt Networks, Comdisco, Commonwealth Biotechnologies, Compugen, Concurrent Computer, Convergent Group, Copper Mountain Networks, Corio, Corvis, Covad Communications, Cyber-Care, Cygnus, Cytogen Pharmaceutical, Dallas Semiconductor, Decode Genetics, Dell, DeltaGen, Disc, Discovery Partners International, Dyax, ebay, Ecogen, Efficient Networks, Elan Corp. PLC, Emerge Interactive, Entravision Communications, Epicor Software, E-piphany, ePlus, Equinix, Ericsson, Esperion Therapeutics, EuroWeb, Excite@Home, EXE Technologies, Exfo Electro-Optical Engineering, Evolve Software, Evolving Systems, Finisar, Floware Wireless, Foundry Networks, FreeMarkets.Com, Genaissance Pharmaceuticals, Genzyme Molecular Oncology, GeoWorks, Giganet Wireless, Gilead Sciences, Glenayre Technologies, GRIC Communications, Hytek Microsystems, iBasis, II-VI inc., Ilex Oncology, Illumina, Immunex, Impath, Impsat Corp., Incyte Genomics, Informix, Infosys Technologies, Inktomi, Inspire Pharmaceuticals, inSilicon, Integrated Telecom Express, Intel, Intermedia Communications, Internet Capital Group, ISTA Pharmaceuticals, JDS Uniphase, Keryx Biopharmaceuticals, Juniper Networks, Kana Communications, Large Scale Biology, Lattice Semiconductor, Legato Systems, Liberate Technologies, LifeMinders, Linear Technology, Lion BioSciences AG, Looksmart, Luminex, McData, McLeodUSA, The Medicines, Metasolv Software, Methode Electronics, Metricom, Metrix One, Metron Technology N.V., Microsoft, National Security, Neoforma.Com, Net2Phone, NetSilicon, Netsolve, Network Commerce, Network Computing Devices, New Tel, Neurobiological, Nhancement Technology, Niku Corp, Novellus System, Numerical Technologies, Omnivision Technology, ONI Systems, Onvia.Com, OpNet Technologies, Optelecom, Opus360, Oracle, Pac-West Telecomm, Paging Network, Pain Therapeutics, Palm, Panja, Peco II, Pegasystem, Pemstar, PFS Web, Phone.Com, PMC-Sierra, Portal Software, Precis Software, Qualcomm, Qualstar, Quantum Effect Devices, Redback Networks, Red Hat, Regenerate Technologies, Repeater Technologies, Resonate, RiverDeep Group Plc., Robocom, Rosseta Inpharmatics, Saflink, Sage, Sanchez Computer Associates, SDL inc., Sequenom, Silicom Ltd., Siliconix, Smith Micro Software, Societe Europeene Communication S.A., SonicWall, Sonus Networks, Stanford MicroDevices, StorageNetworks, Stem Cells, Sun Microsystems, Sunrise Telecom, Support.Com, Sybase, Sycamore Networks, Synaptic Pharmaceuticals, Talarian, Target Genetics, TCSI, Tegal Corp., Telecommunications Systems, Telik, Telular Corp., Terra Networks SA, TransGenomic, Trega Biosciences, Tripath Technology, TriTel, Triton Network Systems, Turnstone System, Tyler Technologies, UTStarcom, Va Linux, Variagenics, Venture Catalyst, Versata, Versicor, Vertel Corp., ViaNet.Works, Virage, Vitesse Semiconductor, V One Corp., WebMethods, Webex, Witness System, WJ Communications, WorldCom, Xicor, Xilinx, Yahoo! and Zebra Technologies.

NYSE:

 Telecommunications, Retailing, Utilities, Banking, and Technology stocks like: 3Com, Aetna, Agilent Technologies, Alcatel, AMD, AOL, American Express, Analog Devices, Applied Biosystems, AT&T, AT&T Wireless Group, Bank of America, Bank One, Bausch & Lomb, Bell Atlantic, Benchmark Electronics, BP Amoco, British Telecom (BT), Cable & Wireless, C&D Technology, Celestica, Celera Genomics, Charles Schwab, Chase, Check Point, Chevron, Cigna, Citigroup, Compaq, Computer Associates, Convergys, CTS Corp., 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, Halliburton, Hewlett Packard, Hitachi, Home Depot,  H Power Corp, IBM, Infineon, JC Penney, John Hancock, Johnson & Johnson, JP Morgan, Kmart, Kroger Co, Legg Mason, Lucent Technologies (LU), Manufacturer's Services Ltd., Medicis Pharmaceuticals, 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, Silverline Technology, Sprint, Sprint PCS, STMicroelectron, Sungard Data System, Texas Instruments, Transocean Sedco Forex, Tyco International, Unisys, Viasystems Group, Videsh Sanchar Nigam Ltd, Vishay Intertechnology, Wal-Mart, Warner Lambert, Wells Fargo, Xerox, and ZDNet will do well.

 

<---D319--->

MARKET SUMMARY FOR WEDNESDAY NOVEMBER 15TH. 2000


  DOW INDUSTRIAL: 10707.60  = +26.54

NASDAQ: 3165.49  = +27.22

S & P 500: 1389.81  = +6.86

MOST ACTIVE STOCKS & SECTORS



The markets closed higher as the Federal Reserve FOMC leaves interest rates unchanged with a strong warning. The NASDAQ gave back some of its gains before the Federal Reserve announcement, but closed higher nevertheless, with a moderate trading volume. Gainers included: Adminstaff, Analog Devices, Applied Materials, Applied Micro, Atmel Corp, AT&T Liberty, Bea Systems, Cendant Corp, Cisco Systems, Corning, Donegal Group, EMC Corp, EOG Resources, Ericsson, Flextronics, HealthSouth, Home Depot, Integrated Development, Intel, Interspeed, Lexar Media, LSI Logic, Micron Technology, Microsoft, Morgan Stanley Dean Witter, MP3.Com, National Semiconductor, Nextel Communications, Nokia, Novellus Systems, Oracle, PacificNet.Com, PE Corp-Celera, Pfizer, PMC Sierra, Qualcomm, Range Resources, Solectron, Spectralink Corp, Sycamore Networks, Texas Instruments, Theragenics, Tiffany & Co., Tyco International, Veritas Software, Wal-Mart, and WMS Industries.

MAIN REASONS FOR ACTIVITY

  • US Industrial Production dropped 0.1% in October. Analysts expected a rise of 0.5%. Automobile production dropped a whopping 6.6%, while Capacity Utilization dropped 0.4% to stand at 82.1%. 

  • The Energy Information Agency (EIA) and the American Petroleum Institute (API) reported that US Crude Oil inventories rose 1.5 million and 2.5 million barrels respectively. Reuters survey of analysts expected an increase of 1.5 million barrels. The EIA and API reported that Distillates inventories dropped 500,000 and 50,000 barrels respectively. Reuters survey expected an increase of 500,000.

  • US Manufacturing and Trade inventories rose 0.1% in September, well below expectations. The year to year percent change dropped 0.4% to fall back to 6.7%. Inventories-to-sales ratio also dropped a point back to 1:33. Visit our Federal Reserve Monetary Policy Analysis page to read more on the Federal Reserve FOMC meeting. Also, visit our expanded message boards to discuss this topic or any other business topic by clicking here.

  • Upscale retailer Tiffany & Co. reported fiscal Q3 earnings of 24 cents a share, 3 cents a share better than First Call estimates. Profits rose 65% from previous year. Tiffany closed up 11.70%.

  • Eli Lilly reported that it has received an injunction to sell Prozac as its patented product for 6 more Months. Eli Lilly lost a fraction after analysts expressed that the time limit is not enough.

  • Bank of America lost 8.45% after announcing that its charge off on bad loans in fiscal Q4 may rise, due primarily to loans made to beleaguered home appliance maker Sunbeam. Goldman Sachs and Merrill Lynch both lowered their earnings estimates for Bank of America.

  • MP3.Com gained 54.69% after Kaufman Brothers and Robertson Stephens upgraded it.

  • Jupiter Media Matrix reported that Yahoo's and MSN's Instant Messaging (IM) are gaining aggressively on AOL's Instant Messaging services. Microsoft gained, but Yahoo! and AOL lost.

  • AFTER CLOSE: AT&T Liberty reported fiscal Q3 revenues of $436 million, than double last year's earnings. Today, AT&T unveiled plans to spin off AT&T Liberty as part of an agreement with the FCC when it acquired MediaOne. AT&T Liberty gained a fraction, but AT&T lost a fraction in regular trading. Both stocks are however, gaining in after hours trading.

  • AFTER CLOSE: Applied Materials reported fiscal Q4 earnings of 77 cents a share, 1 cent a share better than First Call estimates, and more than double last year's. Sales rose 81%. Applied Materials gained 3.17% in regular trading and still gaining in after hours trading. Other chip stocks like Novellus are also gaining.

  • AFTER CLOSE: High end retailer Nordstrom reported fiscal Q3 losses of 3 cents a share, well higher than the 25 cents  a share earnings for fiscal Q3 1999. Nordstrom blamed the poor performance on Internet Investments and severance costs. Nordstrom lost a fraction in regular trading.

  • NOTE: Our Q4 Quarterly forecast is out.

  • TRY THIS NEW SERVICES OUT: Checkout our HOT U.S. Cities and Counties Procurement Bids & Small Business Funding Resources page. If you are new, we now have a WEEKEND NEWS update to keep you properly informed for the next market day.

  • JOIN THE DISCUSSIONS: Due to the immense popularity this column has received recently, and the willingness of our guests to communicate with each other, we have expanded our message boards so as to serve you better. Please check out (and post on) our NEW expanded message boards here.


PICKS FOR THE NEXT MARKET DAY

 

REASONS BEHIND THE PICKS

  • We expect the momentum in after hours trading for technology stocks to carry over for a technology, Internet and Biotechnology stocks. Then again, the presidential election uncertainty can change everything.

  • There is no better time for bargain hunting than now! Check out our recommendations below:

  • REITERATION: The battered Technology, Internet, and Biotechnology stocks ARE looking very attractive now. Non-PC chip makers, software and networking gear companies especially. We are still holding our picks though. Give us your views on this observation  here.

  • STOCKS TO WATCH NEXT MARKET DAY: Biotechnology and Biopharmaceutical stocks, Yahoo!, Microsoft, Fiber Optics, Networking, technology, Internet and Financial stocks.

  • Expect the major Internet Portal sites to perform very well.

  • Internet holding and capacity (storage) companies will do very well (check out our Quarterly forecasts for other picks).



NASDAQ:

 Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: 3 Dimensional, Accelerated Networks, Act Networks, Active Power, Advanced Electronic Support Products (AESP), Advanced Power Technology, Akamai Technology, Alamosa PCS, AlpNet, Altera, Alysis Technology, Amdahl, American Medical Systems, Amgen, Amtech Systems, Anaren Microwave, Andover.Net, Apple, Applied Materials, Applied Molecular, Arena Pharmaceuticals, Argonaut Technologies, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Arrowpoint, Art Technology Group, Ask Jeeves, Atherogenics, AudioCodes Ltd., Avanex Corp., Avici Systems, Axent Technology, Be Incorporated, Biospherics, Bruker Daltonic, Calypte Biomedical, Cavion Technology, Cellular Technical, Centillum Communications, Centra Software, Centura Software, Charter Communications, Chordiant Software, Cisco Systems, Clarus Corp., ClearNet Communications, CMGI, Cobalt Networks, Comdisco, Commonwealth Biotechnologies, Compugen, Concurrent Computer, Convergent Group, Copper Mountain Networks, Corio, Corvis, Covad Communications, Cyber-Care, Cygnus, Cytogen Pharmaceutical, Dallas Semiconductor, Decode Genetics, Dell, DeltaGen, Disc, Discovery Partners International, Dyax, ebay, Ecogen, Efficient Networks, Elan Corp. PLC, Emerge Interactive, Entravision Communications, Epicor Software, E-piphany, ePlus, Equinix, Ericsson, Esperion Therapeutics, EuroWeb, Excite@Home, EXE Technologies, Exfo Electro-Optical Engineering, Evolve Software, Evolving Systems, Finisar, Floware Wireless, Foundry Networks, FreeMarkets.Com, Genaissance Pharmaceuticals, Genzyme Molecular Oncology, GeoWorks, Giganet Wireless, Gilead Sciences, Glenayre Technologies, GRIC Communications, Hytek Microsystems, iBasis, II-VI inc., Ilex Oncology, Illumina, Immunex, Impath, Impsat Corp., Incyte Genomics, Informix, Infosys Technologies, Inktomi, Inspire Pharmaceuticals, inSilicon, Integrated Telecom Express, Intel, Intermedia Communications, Internet Capital Group, ISTA Pharmaceuticals, JDS Uniphase, Keryx Biopharmaceuticals, Juniper Networks, Kana Communications, Large Scale Biology, Lattice Semiconductor, Legato Systems, Liberate Technologies, LifeMinders, Linear Technology, Lion BioSciences AG, Looksmart, Luminex, McData, McLeodUSA, The Medicines, Metasolv Software, Methode Electronics, Metricom, Metrix One, Metron Technology N.V., Microsoft, National Security, Neoforma.Com, Net2Phone, NetSilicon, Netsolve, Network Commerce, Network Computing Devices, New Tel, Neurobiological, Nhancement Technology, Niku Corp, Novellus System, Numerical Technologies, Omnivision Technology, ONI Systems, Onvia.Com, OpNet Technologies, Optelecom, Opus360, Oracle, Pac-West Telecomm, Paging Network, Pain Therapeutics, Palm, Panja, Peco II, Pegasystem, Pemstar, PFS Web, Phone.Com, PMC-Sierra, Portal Software, Precis Software, Qualcomm, Qualstar, Quantum Effect Devices, Redback Networks, Red Hat, Regenerate Technologies, Repeater Technologies, Resonate, RiverDeep Group Plc., Robocom, Rosseta Inpharmatics, Saflink, Sage, Sanchez Computer Associates, SDL inc., Sequenom, Silicom Ltd., Siliconix, Smith Micro Software, Societe Europeene Communication S.A., SonicWall, Sonus Networks, Stanford MicroDevices, StorageNetworks, Stem Cells, Sun Microsystems, Sunrise Telecom, Support.Com, Sybase, Sycamore Networks, Synaptic Pharmaceuticals, Talarian, Target Genetics, TCSI, Tegal Corp., Telecommunications Systems, Telik, Telular Corp., Terra Networks SA, TransGenomic, Trega Biosciences, Tripath Technology, TriTel, Triton Network Systems, Turnstone System, Tyler Technologies, UTStarcom, Va Linux, Variagenics, Venture Catalyst, Versata, Versicor, Vertel Corp., ViaNet.Works, Virage, Vitesse Semiconductor, V One Corp., WebMethods, Webex, Witness System, WJ Communications, WorldCom, Xicor, Xilinx, Yahoo! and Zebra Technologies.

NYSE:

 Telecommunications, Retailing, Utilities, Banking, and Technology stocks like: 3Com, Aetna, Agilent Technologies, Alcatel, AMD, AOL, American Express, Analog Devices, Applied Biosystems, AT&T, AT&T Wireless Group, Bank of America, Bank One, Bausch & Lomb, Bell Atlantic, Benchmark Electronics, BP Amoco, British Telecom (BT), Cable & Wireless, C&D Technology, Celestica, Celera Genomics, Charles Schwab, Chase, Check Point, Chevron, Cigna, Citigroup, Compaq, Computer Associates, Convergys, CTS Corp., 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, Halliburton, Hewlett Packard, Hitachi, Home Depot,  H Power Corp, IBM, Infineon, JC Penney, John Hancock, Johnson & Johnson, JP Morgan, Kmart, Kroger Co, Legg Mason, Lucent Technologies (LU), Manufacturer's Services Ltd., Medicis Pharmaceuticals, 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, Silverline Technology, Sprint, Sprint PCS, STMicroelectron, Sungard Data System, Texas Instruments, Transocean Sedco Forex, Tyco International, Unisys, Viasystems Group, Videsh Sanchar Nigam Ltd, Vishay Intertechnology, Wal-Mart, Warner Lambert, Wells Fargo, Xerox, and ZDNet will do well.

 

<---D318--->

MARKET SUMMARY FOR TUESDAY NOVEMBER 14TH. 2000


  DOW INDUSTRIAL: 10681.06  = +163.81

NASDAQ: 3138.27  = +171.55

S & P 500: 1382.95  = +31.69

MOST ACTIVE STOCKS & SECTORS



The markets closed higher on the eve of the Federal Reserve FOMC meeting, not withstanding the uncertainty of the presidential elections. NASDAQ volume was moderate. Gainers included: Active Power, Adept Technology, Advanced Power Technology, Altera, Analog Devices, AOL, Applied Micro, Ariba, Avaya inc., BF Enterprises, Ciena, Cisco Systems, Citigroup, CMGI, Compaq, Corning, Curis inc, Dell, EMC Corp, Ericsson, Exodus Communications, GE, Goldman Sachs Holding, Global Crossing, Hewlett Packard, Home Depot, Intel, JDS Uniphase, Juniper Networks, Key3Media, Lucent, McLeodUSA, Micromuse, Micron Technology, Microsoft, Microtouch System, Motorola, M-Wave, Networks Appliances, Nokia, Nortel Networks, Numerical Technologies, Omnisky Corp, Oracle, Orion Power Holdings, Packaging America, Palm, Pfizer, Philip Morris, Qualcomm, SCI Systems, Siebel Systems, Sun Microsystems, Technitrol, Texas Instruments, Thomas & Betts, T-Nexit, Tyco International, Tycom Ltd., Vodafone Group, Williams Communications, and Worldcom.

MAIN REASONS FOR ACTIVITY

  • US Retail sales for October rose 0.1%, slightly higher than expected. 

  • The Richmond Fed Manufacturing Index, a good measure of manufacturing activity for the Federal Reserve District of Richmond, dropped 2 points. New Orders Index dropped 2 points, as opposed to the 12 points gained in September. Backlog of Orders dropped 1 point, as opposed to the 3 points in September. Six Month Shipment Outlook stood at 22, the lowest level in 8 months. Visit our Federal Reserve Monetary Policy Analysis page to read more on the Federal Reserve FOMC meeting. Also, visit our expanded message boards to discuss this topic or any other business topic by clicking here.

  • Cisco Systems has entered into a strategic alliance with the number 1 fiber optics maker, Corning. Under this alliance, the world's largest networking equipment related makers, will clearly dominate the market. Cisco gained 5.46%, while Corning gained 12.71%.

  • Technology stocks rallied on bargain hunting.

  • Omnisky Corp. gained 38.19% after Morgan Stanley Dean Witter initiated coverage of the company with a "strong buy" recommendation.

  • BF Enterprises gained 34.29% after reporting fiscal Q3 earnings of 15 cents a share.

  • First Union lost 8.73% after it announced that it might reclassify large loans as problem loans in Q4.

  • IPO Today: Orion Power Holdings, an electric power supplier, closed unchanged at its offering price of $20 a share.

  • AFTER CLOSE: Analog Devices reported fiscal Q4 earnings of 54 cents a share, 4 cents a share better than First Call estimates, and almost double the Q4 1999. Analog Devices' revenue rose 87% over the year. Analog Devices closed up 15.18% in regular trading.

  • NOTE: Our Q4 Quarterly forecast is out.

  • TRY THIS NEW SERVICES OUT: Checkout our HOT U.S. Cities and Counties Procurement Bids & Small Business Funding Resources page. If you are new, we now have a WEEKEND NEWS update to keep you properly informed for the next market day.

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PICKS FOR THE NEXT MARKET DAY

 

REASONS BEHIND THE PICKS

  • The Federal Reserve FOMC will meet tomorrow and is expected to leave Interest Rates unchanged. We are expecting the stock market to rally.

  • There is no better time for bargain hunting than now! Check out our recommendations below:

  • REITERATION: The battered Technology, Internet, and Biotechnology stocks ARE looking very attractive now. Non-PC chip makers, software and networking gear companies especially. We are still holding our picks though. Give us your views on this observation  here.

  • STOCKS TO WATCH NEXT MARKET DAY: Biotechnology and Biopharmaceutical stocks, Yahoo!, Microsoft, Fiber Optics, Networking, technology, Internet and Financial stocks.

  • Expect the major Internet Portal sites to perform very well.

  • Internet holding and capacity (storage) companies will do very well (check out our Quarterly forecasts for other picks).



NASDAQ:

 Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: 3 Dimensional, Accelerated Networks, Act Networks, Active Power, Advanced Electronic Support Products (AESP), Advanced Power Technology, Akamai Technology, Alamosa PCS, AlpNet, Altera, Alysis Technology, Amdahl, American Medical Systems, Amgen, Amtech Systems, Anaren Microwave, Andover.Net, Apple, Applied Materials, Applied Molecular, Arena Pharmaceuticals, Argonaut Technologies, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Arrowpoint, Art Technology Group, Ask Jeeves, Atherogenics, AudioCodes Ltd., Avanex Corp., Avici Systems, Axent Technology, Be Incorporated, Biospherics, Bruker Daltonic, Calypte Biomedical, Cavion Technology, Cellular Technical, Centillum Communications, Centra Software, Centura Software, Charter Communications, Chordiant Software, Cisco Systems, Clarus Corp., ClearNet Communications, CMGI, Cobalt Networks, Comdisco, Commonwealth Biotechnologies, Compugen, Concurrent Computer, Convergent Group, Copper Mountain Networks, Corio, Corvis, Covad Communications, Cyber-Care, Cygnus, Cytogen Pharmaceutical, Dallas Semiconductor, Decode Genetics, Dell, DeltaGen, Disc, Discovery Partners International, Dyax, ebay, Ecogen, Efficient Networks, Elan Corp. PLC, Emerge Interactive, Entravision Communications, Epicor Software, E-piphany, ePlus, Equinix, Ericsson, Esperion Therapeutics, EuroWeb, Excite@Home, EXE Technologies, Exfo Electro-Optical Engineering, Evolve Software, Evolving Systems, Finisar, Floware Wireless, Foundry Networks, FreeMarkets.Com, Genaissance Pharmaceuticals, Genzyme Molecular Oncology, GeoWorks, Giganet Wireless, Gilead Sciences, Glenayre Technologies, GRIC Communications, Hytek Microsystems, iBasis, II-VI inc., Ilex Oncology, Illumina, Immunex, Impath, Impsat Corp., Incyte Genomics, Informix, Infosys Technologies, Inktomi, Inspire Pharmaceuticals, inSilicon, Integrated Telecom Express, Intel, Intermedia Communications, Internet Capital Group, ISTA Pharmaceuticals, JDS Uniphase, Keryx Biopharmaceuticals, Juniper Networks, Kana Communications, Large Scale Biology, Lattice Semiconductor, Legato Systems, Liberate Technologies, LifeMinders, Linear Technology, Lion BioSciences AG, Looksmart, Luminex, McData, McLeodUSA, The Medicines, Metasolv Software, Methode Electronics, Metricom, Metrix One, Metron Technology N.V., Microsoft, National Security, Neoforma.Com, Net2Phone, NetSilicon, Netsolve, Network Commerce, Network Computing Devices, New Tel, Neurobiological, Nhancement Technology, Niku Corp, Novellus System, Numerical Technologies, Omnivision Technology, ONI Systems, Onvia.Com, OpNet Technologies, Optelecom, Opus360, Oracle, Pac-West Telecomm, Paging Network, Pain Therapeutics, Palm, Panja, Peco II, Pegasystem, Pemstar, PFS Web, Phone.Com, PMC-Sierra, Portal Software, Precis Software, Qualcomm, Qualstar, Quantum Effect Devices, Redback Networks, Red Hat, Regenerate Technologies, Repeater Technologies, Resonate, RiverDeep Group Plc., Robocom, Rosseta Inpharmatics, Saflink, Sage, Sanchez Computer Associates, SDL inc., Sequenom, Silicom Ltd., Siliconix, Smith Micro Software, Societe Europeene Communication S.A., SonicWall, Sonus Networks, Stanford MicroDevices, StorageNetworks, Stem Cells, Sun Microsystems, Sunrise Telecom, Support.Com, Sybase, Sycamore Networks, Synaptic Pharmaceuticals, Talarian, Target Genetics, TCSI, Tegal Corp., Telecommunications Systems, Telik, Telular Corp., Terra Networks SA, TransGenomic, Trega Biosciences, Tripath Technology, TriTel, Triton Network Systems, Turnstone System, Tyler Technologies, UTStarcom, Va Linux, Variagenics, Venture Catalyst, Versata, Versicor, Vertel Corp., ViaNet.Works, Virage, Vitesse Semiconductor, V One Corp., WebMethods, Webex, Witness System, WJ Communications, WorldCom, Xicor, Xilinx, Yahoo! and Zebra Technologies.

NYSE:

 Telecommunications, Retailing, Utilities, Banking, and Technology stocks like: 3Com, Aetna, Agilent Technologies, Alcatel, AMD, AOL, American Express, Analog Devices