Daily stock market summary, analysis and stock picks

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

The markets closed mixed as the Dow rallied despite earnings warnings, while technical difficulties spooked the NASDAQ. All said and done, the First trading day of Q3 and second half of the year started quite good. The NASDAQ, which had a zigzag day, had a heavy trading volume of over 1.517 billion shares, while the NYSE had a volume of over 1.111 billion shares traded. Gainers included: 3M, AOL Time Warner, Applied Materials, Ariba, AT&T, AT&T Wireless, Cisco Systems, Citigroup, Corning, Danaher, Dell, Eaton, EMC Corp, FashionMall.Com, GE, Global Crossing, HotJobs.Com, IBM, Intel, JDS Uniphase, Johnson & Johnson, Juniper Networks, Lucent Technologies, Metricom, Metromedia Fiber Network, MicroStrategy, Motorola, Nokia, Nortel Networks, Oracle, Palm, Pfizer, Priceline.Com, Redback Networks, Schering-Plough, Siebel Systems, Stemcells, Sun Microsystems, Texas Instruments, Tyco International, and Worldcom Group.

The National Association of Purchasing Managers (NAPM) reported that its NAPM Index rose to 44.7% - any point below 50% is a contraction. All indices rose except the Prices Paid and New Export Orders indices, which closed lower.
US Personal Income rose only 0.2% in May. Personal Consumption rose by 0.5%, as Personal Savings deteriorated to -1.3%, the record levels seen in January.
US Construction Spending rose a stronger than expected 0.3% in May, as residential construction continues to lead the charge.
Worldwide Semiconductor Sales dropped 7.3% in May. All regions had a drop. 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.
HotJobs.Com gained 38.78% today after the largest online job listing company, TMP Worldwide, the parent of Monster.Com, agreed to acquire it for $460 million.
Oracle and Siebel Systems gained after Lehman Brothers analyst Neil Herman issued a cautious but upbeat comment about the enterprise software sector. Siebel Systems was also boosted by a Morgan Stanley Dean Witter upgrade to a "near term accumulate" recommendation.
Priceline.Com gained over 9% after Morgan Stanley Dean Witter analyst Mary Meeker made the comments that the name your own price reverse auctioneer will have an upside if its sticks to its financial policies and projections and implement them.
3M gained 2.77% despite cutting its earnings estimates today.
Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.
MicroStrategy gained 32.14% after NCR dropped its patent infringement lawsuit against it.
IBM gained 1.19% after announcing that it has completed the acquisition of Informix. IBM also announced that it is cutting 1,500 jobs in its IBM Global Services unit.
Stemcells gained 19.49% on news that the July 9th. Newsweek Magazine will cover the stem cells wars and that the Current US Government will approve more funding relating to the field.
FashionMall.Com gained 15% after announcing plans to repurchase 16.9%, or 1.216 million of its common stock.
Metricom gained 5.20% after announcing that it has filed for chapter 11 bankruptcy protection.
NOTE: Due to upgrades and expansions, we are having a rather rough week. Please bear with us.
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

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

The markets closed the week mixed as technology stocks lifted the NASDAQ higher. The NASDAQ, which was in the positive all day, had a very very heavy trading volume of over 2.098 billion shares, while the NYSE had a volume of over 1.731 billion shares traded. Gainers included: Agere Systems, AMD, AOL Time Warner, Applied Micro Circuits, AT&T, Broadcom, Brocade Communications, Ciena Corp, Citigroup, Commerce One, Corning, Decode Genetics, Dell, Docent, Eden Biosciences, Ericsson, GE, Intel, JDS Uniphase, Juniper Networks, Lucent Technologies, Microsoft, Motorola, Nokia, Philip Morris, PMC-Sierra, Research in Motion, Schering-Plough, Siebel Systems, Sipex Corp, Stanford Microdevices, Sun Microsystems, Tellabs, Terayon Communications, Texas Instruments, TransGenomics, Trust Company of new York, Tyco International, and Yahoo!

US GDP for Q1 2001 was revised downward to a growth of only 1.2%.
The Chicago Purchasing Managers Association reported that its Chicago PMI Index rose to 44.4% - any point below 50% is considered a contraction. All indices rose except Prices Paid, Inventories, and Supplier Deliveries, which all dropped. 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.
Microsoft gained again today after the US Court of Appeals rule in its favor yesterday.
Research in Motion after announcing plans to expand beyond North America.
PMC-Sierra gained 6.59% despite issuing an earnings warning yesterday.
Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.
Sipex gained 41.69% after announcing plans to cut 15% of its workforce.
Terayon Communications gained 64.52% after reporting fiscal Q2 losses that were smaller than expected.
Eden Biosciences gained 16.84% and took biotechs higher despite cutting its fiscal Q2 earnings outlook yesterday.
GE gained after rejecting a discounted acquisition offer from Honeywell International, Honeywell lost 8.64%.
Agere Systems gained 21.87% after announcing plans to cut 4,000 jobs.
Edison International lost 3.09% despite announcing that it will meet its $1.218 billion debt obligations this year.
NOTE: Due to upgrades and expansions, we are having a rather rough week. Please bear with us.
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.

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

The markets closed higher a day after the Federal Reserve FOMC cut interest rates. The NASDAQ, which was in the positive all day, had a very heavy trading volume of over 1.960 billion shares, while the NYSE had a volume of over 1.309 billion shares traded. Gainers included: Agere Systems, Altera, Applied Materials, Applied Micro Circuits, AT&T Liberty, AT&T Wireless, Borel Bank & Trust, Brocade Communications, Check Point Software, Cisco Systems, Compaq, Corning, Dell, Digimarc, EMC Corp, F5 Networks, GE, Honeywell International, i2 Technologies, Intel, JDS Uniphase, Johnson & Johnson, Juniper Networks, Korean Telecom, Launch Media, Microsoft, Motorola, Nokia, Oracle, Palm, Pfizer, PMC-Sierra, Qualcomm, Research in Motion, Siebel Systems, Sun Microsystems, Taiwan Semiconductor, Texas Instruments, Veritas Software, VerticalNet, Washington Mutual, Worldcom Group, Xilinx, and Yahoo!

The Economy.Com reported that its Online Help Wanted Index, a good measure of white collar employee demand, declined in June. The June 4-week moving average dropped.
The Conference Board reported that, its (Newspaper) Help Wanted Index, a good measure of blue collar employee demand, dropped 5 points in May to 60. The SouthAtlantic and Great Lakes were the hardest hit.
US Jobless Claims for week ending June 23rd. dropped 16,000 to 385,000 - below the all important 400,000 mark. The 4-week moving average dropped to 416,0000.
US Agricultural Prices dropped 0.9% in June. Meat and Diary products prices were however, still strong. 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.
Microsoft gained 2.25% and still gaining in after hours trading after the US Court of Appeals ruled in its favor. Rival AOL Time Warner closed lower.
Research in Motion gained 3.58% on rumors that Dell might acquire it.
F5 Networks gained 3.45% after Nokia announced plans to acquire 9.9% of the company, and buy additional shares so as to help the company challenge Cisco Systems in Internet routers and switches business. Nokia gained 0.51%, while Cisco Systems gained 3.63%.
Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.
Yahoo! gained 3.47% after announcing the acquisition of online music company, Launch Media, for about $12 million. Launch Media gained 53.45%.
VerticalNet gained 26.88% after announcing that it has won the contract to provide eProcurement applications for Pepsi Bottling Group.
Corning gained 7.85% on rumors that Ciena might acquire its fiber optic business.
Oil stocks closed lower and crude prices dropped $1.37/barrel on the NYMEX on speculation that the UN will not put sanctions on Iraq again.
Internet and semiconductor shares were some of the best performers today.
AFTER CLOSE: GE and Honeywell International are losing in after hours trading after a Wall Street Journal reported that the European Union have rejected any attempts to salvage the GE/Honeywell merger.
AFTER CLOSE: PMC-Sierra warned that it will miss fiscal Q2 revenue and earnings estimates.
NOTE: Due to upgrades and expansions, we are having a rather rough week. Please bear with us.
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

THE "DAILY BREAD" FOR THE MARKET

Daily Morning Insights on the Market

THE "DAILY BREAD" FOR THE MARKET

Daily Morning Insights on the Market