THE "DAILY BREAD" FOR THE MARKET

Daily Morning Insights on the Market

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MARKET SUMMARY FOR THURSDAY JULY 12TH. 2001

DOW INDUSTRIAL: 10478.99 = +239.97

NASDAQ: 2075.74 = +103.70

S & P 500: 1208.14 = +27.96

MOST ACTIVE STOCKS & SECTORS

The markets closed higher as strong after hours earnings reports pushed the markets to the highest daily gain in 4 months. The NASDAQ, which was up and hot all day, had a very heavy trading volume of over 1.890 billion shares, while the NYSE had a volume of over 1.394 billion shares traded. Gainers included: ADC Telecommunications, Altera, AMD, AOL Time Warner, Applied Materials, Applied Micro Circuits, AT&T, AT&T Wireless, Barr Labs, Bea Systems, Broadcom, Brocade Communications, Ciena Corp, Cisco Systems, Citigroup, Compaq, Corning, CNET Networks, Dell, eBay, Enron, Ericsson, Exodus Communications, GE, IBM, Intel, JDS Uniphase, Juniper Networks, Lucent Technologies, Micron Technology, Microsoft, Motorola, Nokia Nortel Networks, Oracle, Siebel Systems, Sonus Networks, Sun Microsystems, Texas Instruments, Tyco International, Veritas Software, Wal-Mart, Worldcom Group, and Yahoo!

MAIN REASONS FOR ACTIVITY

• US Jobless Claims grew a strong 42,000 to 445,000 for week ending July 7th. The 4 week moving average also rose to 411,000.

• US Chain Store Sales rose a moderate 2.8% in June. Apparel, Department, and Footwear stores all saw declines.

• US Import prices dropped 0.5% in June, thanks to a significant drop in petroleum prices. US Export prices dropped by 0.3%. Visit our Federal Reserve Monetary Policy Analysis page to read more. Also, visit our expanded message boards to discuss this topic or any other business topic by clicking here.

• Barr Labs gained 10.23% after raising its fiscal Q4 earnings outlook and making it known that for the next 180 days, it will be the only supplier of Generic Prozac.

• Microsoft gained 7.67% after the government of New Mexico announced today that it will settle with the software giant and withdraw from the government case that is seeking to breakup the software .

• Juniper Networks gained 16.06% after reporting earnings that met First Call estimates. Juniper's sales also seem to suggest the slide might be over and a recovery might be on the way.

• Enron gained 0.92% after reporting fiscal Q2 earnings that were about 40% than period before and above Wall Street estimates

• Motorola gained 15.83% after cutting its earnings outlook for the second half of the year, and announcing plans to cut 4,000 jobs.

• Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• Yahoo! gained 7.22% today after reporting fiscal Q2 earnings and sales that beat Wall Street estimates yesterday. Yahoo!'s results lifted the Internet sector today.

• AMD gained 7.48% after beating its lowered earnings estimates.

• Micron Technology gained 1.24% after agreeing to sell $450 million in warrants.

• FORECAST IS UP: Our First and Second quarters of year 2001 is now up. Don't get blinded in these uncertain times, take advantage of the information by visiting our Quarterly forecasts page.

• NEW SERVICE: Now that we have our United Kingdom and Ireland portal BusinessJeeves UK & Ireland, and our Canadian (English) portal BusinessJeeves Canada is up and running. We are confident, the quality of our content will keep you coming back.

• 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

STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play. Check out our Quarterly forecasts for other picks.

Visit our Monthly Stock Picks and Guidance page to read our portfolio picks/recommendations.

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MARKET SUMMARY FOR WEDNESDAY JULY 11TH. 2001

DOW INDUSTRIAL: 10241.02 = +65.38

NASDAQ: 1972.04 = +9.25

S & P 500: 1180.18 = -1.34

MOST ACTIVE STOCKS & SECTORS

The markets closed higher as bargain hunters came out today. The NASDAQ, which was zigzag all day until it rallied about 7 points in the last 5 minutes, had a very heavy trading volume of over 1.770 billion shares, while the NYSE had a volume of over 1.378 billion shares traded. Gainers included: 7 Eleven, Applied Materials, Applied Micro Circuits, Autozone, Broadcom, Brocade Communications, Ciena Corp, Cisco Systems, Coach inc, Coca Cola, Coca Cola Enterprises, Compaq, CSFBDirect, Dell, Gilat Satellite, GM, Honeywell International, IBM, Intel, JDS Uniphase, Johnson & Johnson, Lucent Technologies, Medquist, Microsoft, Motorola, Norfolk Southern, Oracle, Pacificare Health, Pacifichealth, Pepsi Bottling Group, Philips - Van Heusen, Rite Aid, SBC Communications, Siebel Systems, Sonus Networks, Texas Instruments, TRC Companies, Trex Company, Verizon Communications, Veritas Software, Wal-Mart, and Whirlpool.

MAIN REASONS FOR ACTIVITY

• The Mortgage Bankers Association (MBA) reported that for week ending July 6th, its MBA Mortgage Application Index dropped 11.1% to 432.4. The 4-week moving average dropped to 477.9. All the component indices saw declines.

• The Energy Information Agency (EIA) and the American Petroleum Institute (API) reported that for week ending July 6th, the EIA saw a 2.9 million barrels increase in US crude oil inventories, while the API saw a decrease of 909,000 barrels. As for distillates, the EIA and the API saw increases of 3.6 million barrels and 3.4 million barrels respectively. Visit our Federal Reserve Monetary Policy Analysis page to read more. Also, visit our expanded message boards to discuss this topic or any other business topic by clicking here.

• Compaq gained 5.01% after announcing another 4,000 job cuts today. Compaq lowered its sales and earnings outlook yesterday.

• Microsoft gained 3.13% today after announcing that its fiscal Q2 revenues will increase by 3% and it will write off $2.6 billion worth of investment losses. Microsoft also announced that it will change its licensing agreements with computer makers which has caused it so many legal battles. Under the new licensing, Microsoft will allow computer makers to alter certain parts of its Windows® bundling package.

• Newell Rubbermaid and Emerson Electric all closed lower after issuing earnings warnings for fiscal Q2 and Q3 respectively.

• Whirlpool closed higher after raising its fiscal Q2 earnings outlook!

• Rite Aid gained 1.21% after announcing that its fiscal Q1 losses will shrink considerably due to improved general merchandize sales and improved customer care services.

• Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• Dun & Bradstreet lost 1.61% after an SEC filing on Tuesday noted that Warren Buffett's Berkshire Hathaway have reduced its stake in the company from 14.97% to 8.6%.

• Verizon Communications gained 1.16% despite losing a Court appeal that was to force AT&T to open up its cable systems to competing Internet Service Providers (ISPs). AT&T and its nearest rival, AOL Time Warner, all closed lower.

• Pepsi Bottling Group gained 3.57% after reporting that its profits jumped 36.5% in fiscal Q2, due to the success of its Aquafina™ bottled water and other side products.

• CSFBDirect.Com gained 26.96% after its parent, CS First Boston sweetened the deal to take the online brokerage unit private. CS First Boston is now offering $6/share, or $110 million. CSFBDirect closed at $5.94/share.

• AFTER CLOSE: Yahoo! is gaining aggressively in after hours trading after reporting fiscal Q2 earnings of 1 cent a share on quarterly revenue of $182.2 million - all above what First Call estimated. Yahoo! also named new executives to its Asian and European operations.

• AFTER CLOSE: Motorola is still gaining after reporting fiscal Q2 losses that were 1 cent a share less than First Call estimates.

• AFTER CLOSE: Sonus Networks is still gaining after reporting fiscal Q2 earnings of 1 cent a share, well better than First Call estimates of a break even. Over the year fiscal Q2 revenues rose from $6.5 million last year to a whopping $52.6 million.

• AFTER CLOSE: Genentech is still losing despite reporting fiscal Q2 earnings that met Wall Street estimates.

• AFTER CLOSE: Redback Networks is gaining after reporting fiscal Q2 losses that were 3 cents a share less losses than First Call estimated.

• FORECAST IS UP: Our First and Second quarters of year 2001 is now up. Don't get blinded in these uncertain times, take advantage of the information by visiting our Quarterly forecasts page.

• NEW SERVICE: Now that we have our United Kingdom and Ireland portal BusinessJeeves UK & Ireland, and our Canadian (English) portal BusinessJeeves Canada is up and running. We are confident, the quality of our content will keep you coming back.

• 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

STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play. Check out our Quarterly forecasts for other picks.

Visit our Monthly Stock Picks and Guidance page to read our portfolio picks/recommendations.

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MARKET SUMMARY FOR TUESDAY JULY 10TH. 2001

DOW INDUSTRIAL: 10175.64 = -123.76

NASDAQ: 1962.79 = -63.92

S & P 500: 1181.52 = -17.26

MOST ACTIVE STOCKS & SECTORS

The markets closed lower as the tech optimism of yesterday was quickly quieted with more earning warnings. The NASDAQ, which was in a dive since 10 AM, had a heavy trading volume of over 1.661 billion shares, while the NYSE had a volume of over 1.245 billion shares traded. Gainers included: AT&T, Autozone, Bank of the Northwest, Bellsouth Corp, Bioanalytics, Epoch Biosciences, Global Crossing, Immune Response, Johnson & Johnson, McLeodUSA, Medamicus, Med-Design Corp, Philip Morris, Texas Instruments, TiVo, Trend Micro, Triton Energy, Urologix, Verisign, and Williams Cos.

MAIN REASONS FOR ACTIVITY

• The Richmond Fed manufacturing Survey held steady in June with a drop of 20. The New Orders and Backlog of Orders indices declined, while the 6 Month Outlook Index rose.

• US Wholesale Sales declined 0.1% in May, while Inventories increased 0.2%, thus pushing the Inventory to Sales ratio up to 1.32, its highest level this year. Visit our Federal Reserve Monetary Policy Analysis page to read more. Also, visit our expanded message boards to discuss this topic or any other business topic by clicking here.

• Genentech and Tanox lost 15.85% and 44.01% respectively after the FDA refused to allow their Asthma drug Xolair™ to proceed to the next approval stage until the agency sees more data.

• Autozone gained 0.42% after announcing plans to sell its heavy-duty truck parts subsidiary, TruckPro.

• President George W. Bush today nominated  Mark Olson, a Minnesota Banker and former congressional aid, to fill the last remaining vacancy on the Federal Reserve Board of Governors today. Susan Bies, a Tennessee banker and economist, was the other nomination President Bush made to the board.

• Merrill Lynch lost 1.72% after announcing that its analysts are no longer allowed to buy shares in companies they cover.

• Triton Energy gained 48.60% after oil and gas company Amerada Hess agreed to acquire it for $2.7 billion in cash. Amerada Hess lost 2.53%.

• AT&T gained 10.37% on speculation that its board will allow talks with Comcast for its $44.5 billion bid for AT&T Broadband to proceed. Comcast lost 0.99%.

• Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• Compaq lost 3.10% after lowering its sales and earnings outlooks for fiscal Q2. Compaq also announced that it is expanding its workforce reduction to include a total of 8,500 job cuts.

• Lucent Technologies lost 5.35% after announcing that it will restructure its business operations into 2 groups: The Wireline Group and the Wireless Group.

• Corning lost 6.49% today after announcing yesterday that it is closing 3 plants and cutting 1,000 jobs. Corning also announced that it will take a $5.1 billion charge in fiscal Q2.

• McLeodUSA gained 14.29% after announcing that it has enough funds to last it till 2003. McLeodUSA also reiterated its strong longterm outlook.

• TiVo gained 35.70% today after reaffirming its fiscal Q2 targets, 2002 outlook and raising its 2003 revenue outlook yesterday.

• Verisign gained 3.22% after entering into an alliance with Microsoft in the development of its .Net security.

• Medamicus gained 17.35% after the FDA approved it to market its safety syringe.

• Med-Design gained 12.19% after being added to the Russell 2000® and Russell 3000® indices.

• FORECAST IS UP: Our First and Second quarters of year 2001 is now up. Don't get blinded in these uncertain times, take advantage of the information by visiting our Quarterly forecasts page.

• NEW SERVICE: Now that we have our United Kingdom and Ireland portal BusinessJeeves UK & Ireland, and our Canadian (English) portal BusinessJeeves Canada is up and running. We are confident, the quality of our content will keep you coming back.

• 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

STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play. Check out our Quarterly forecasts for other picks.

Visit our Monthly Stock Picks and Guidance page to read our portfolio picks/recommendations.

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MARKET SUMMARY FOR MONDAY JULY 9TH. 2001

DOW INDUSTRIAL: 10299.40 = +46.72

NASDAQ: 2026.71 = +22.55

S & P 500: 1198.78 = +8.19

MOST ACTIVE STOCKS & SECTORS

The markets closed higher on optimism. The NASDAQ, which was up all day, had a light trading volume of over 1.400 billion shares, while the NYSE had a volume of over 1.045 billion shares traded. Gainers included: Amazon.Com, AMD, Anchor Gaming, AOL Time Warner, Argosy Education Group, AT&T, Bea Systems, Brocade Communications, Cabletron, Calpine Corp, Ciena Corp, Cisco Systems, Citigroup, Dell, EMC Corp, Enel Societa per Azioni, Ericsson, eShare Communications, Gadzooks, i2 Technologies, Intel, Jabil Circuits, JDS Uniphase, Johnson & Johnson, Juniper Networks, Made2Manage Systems, Marimba, Merck, Newport Corp, Nortel Networks, Oracle, Palm, Pfizer, Qualcomm, Semitool, Sun Microsystems, Tyco International, Wal-Mart, WMS Industries, and Worldcom Group.

MAIN REASONS FOR ACTIVITY

• US Consumer Credit grew a mere $6.5 billion in May, well below estimates and the lowest monthly growth since December. Non-revolving credit grew a slower than anticipated $3.3 billion, also the slowest growth since December. Visit our Federal Reserve Monetary Policy Analysis page to read more. Also, visit our expanded message boards to discuss this topic or any other business topic by clicking here.

• Cisco Systems gained 2.74% despite an earnings outlook cut from CS First Boston.

• EMC Corp gained 3.33% after Bear Stearns expressed concerns that the Friday sell was an over-reaction and so upgraded the shares to a "buy" recommendation.

• AT&T Wireless Services lost 2.30% on its first day of trading as an S&P 500 Index member, and as a common (independent company) stock, as opposed to trading as an AT&T tracking stock.

• AT&T gained 11.84% after rival cable operator Comcast made a $44.5 billion unsolicited offer for AT&T's money losing Broadband unit. Comcast closed 6.93% lower.

• Sun Microsystems gained 8.33% after Bear Stearns upgraded it to a "buy" recommendation.

• US' number 3 grocer Safeway closed lower after reporting fiscal Q2 earnings that met estimates, but its same store sales growth was disappointing. Safeway's listing on London's FTSE closed...... Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• Anchor Gaming gained 5.66% after International Gaming Technology agreed to acquire it for $935 million and assume $430 million in debts. International Gaming Technology closed lower.

• WebVan Group, the online grocery delivery chain which went through $1 billion, yes $1 billion, in funding, folded today. Folks, loan us only $500,000 of that, and we will be happy (oh yes, we will show a profit too!).

• AFTER CLOSE: French telecom equipment maker, Alcatel, reported that it is cutting 2,500 jobs and consolidating some of its US operations.

• AFTER CLOSE: Corning is still losing after announcing that it is closing 3 plants and cutting 1,000 jobs. Corning also announced that it will take a $5.1 billion charge in fiscal Q2.

• AFTER CLOSE: Newport Corp is extending its gains in after hours trading after reaffirming its fiscal Q2 outlook. Newport also announced plans to cut about 10% of its workforce due to the struggling US economy.

• AFTER CLOSE: TiVo is gaining after reaffirming its fiscal Q2 targets.

• AFTER CLOSE: Retailer Gadzooks is losing after issuing an earnings warning for fiscal Q2.

• AFTER CLOSE: Blue Martini Software is still losing despite making known that, its losses will be lower than First Call estimates. Blue martini also announced plans to cut 25% of workforce and consolidate its operations.

• AFTER CLOSE: Ibis Technology is still losing after providing preliminary fiscal Q2 numbers that were below estimates.

• AFTER CLOSE: Marimba is still gaining after providing preliminary fiscal Q2 numbers that show its losses will be half what First Call estimated.

• FORECAST IS UP: Our First and Second quarters of year 2001 is now up. Don't get blinded in these uncertain times, take advantage of the information by visiting our Quarterly forecasts page.

• NEW SERVICE: Now that we have our United Kingdom and Ireland portal BusinessJeeves UK & Ireland, and our Canadian (English) portal BusinessJeeves Canada is up and running. We are confident, the quality of our content will keep you coming back.

• 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

STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play. Check out our Quarterly forecasts for other picks.

Visit our Monthly Stock Picks and Guidance page to read our portfolio picks/recommendations.

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MARKET SUMMARY FOR FRIDAY JULY 6TH. 2001

DOW INDUSTRIAL: 10252.68 = -227.18

NASDAQ: 2004.16 = -75.95

S & P 500: 1190.59 = -28.65

MOST ACTIVE STOCKS & SECTORS

The markets closed lower again as earnings warnings continue to pour in. The NASDAQ, which was lower all day, had a moderate trading volume of over 1.444 billion shares, while the NYSE had a volume of over 1.043 billion shares traded. Gainers included: Advanced Lightening Technology, AT&T, AT&T Wireless Group, Axsys Technology, Calpine Corp, Commonwealth Bank of Virginia, Curis, Daw Technologies, Energis Plc, Federated Department Stores, IFCO Systems, Isomet Corp, Isramco, Marten Transport, Pfizer, Santa Fe Financial, Vitria Technology, and WebMethods.

MAIN REASONS FOR ACTIVITY

PICKS FOR THE NEXT MARKET DAY

REASONS BEHIND THE PICKS

STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play. Check out our Quarterly forecasts for other picks.

Visit our Monthly Stock Picks and Guidance page to read our portfolio picks/recommendations.

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MARKET SUMMARY FOR TUESDAY JULY 3RD. 2001

DOW INDUSTRIAL: 10571.11 = -22.61

NASDAQ: 2140.80 = -7.92

S & P 500: 1234.45 = -2.26

MOST ACTIVE STOCKS & SECTORS

The markets closed lower due to earnings warnings and a short trading day. The NASDAQ, which was lower all day, had a light trading volume of over 0.869 billion shares, while the NYSE had a volume of over 0.623 billion shares traded. Gainers included: Abiomed, Applied Materials, Ashanti Goldfields, Barrick Gold, Brocade Communications, Cendant Corp, Ciena, Compaq, Corning, Data Research, Dell, EMC Corp, Exodus Communications, Global Crossing, Honeywell International, i2 Technologies, Intel, Lucent Technologies, Merck, Micron Tech, Motorola, Oracle, Playboy Entertainment, Qualcomm, Siebel Systems, Sun Microsystems, Three Rivers Bancorp, Tyco International, Virologic, and Walgreens.

MAIN REASONS FOR ACTIVITY