THE "DAILY BREAD" FOR THE MARKET

Daily Morning Insights on the Market

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MARKET SUMMARY FOR THURSDAY AUGUST 23RD. 2001

DOW INDUSTRIAL: 10229.15 = -47.75

NASDAQ: 1842.97 = -17.04

S & P 500: 1162.09 = -3.22

MOST ACTIVE STOCKS & SECTORS

The markets closed the day lower due to jobless claims data. The NASDAQ, which rallied in the first hour and started dropping after that, had a heavy trading volume of over 1.456 billion shares, while the NYSE had a volume of over 0.987 billion shares traded. Gainers included: Actrade Financial, Americredit, Amgen, AOL Time Warner, Applied Materials, AVX Corp, Biora AB, Cardima, Cendant Corp, Ciena Corp, Cisco Systems, Corixa Corp, Cytec Industries, Diebold, Electronics Boutique, EMC Corp, ExxonMobil, Fording inc, GE, Genentech, Guaranty Federal Bancorp, Hastings Entertainment, Homeservices, JD Edwards & Co, King Pharmaceuticals, Kingsway Financial, Longs Drug Store, Matria Healthcare, Millenium Cell, Motorola, National Security, Nextel Communications, Nortel Networks, Orbital Engine, OXigene, Pfizer, Pharmaceuticals Resources, Ryland Group, Schering-Plough, Sprint PCS Group, Sun Microsystems, and Texas Instruments.

MAIN REASONS FOR ACTIVITY

• US Jobless Claims rose 8,000 to 393,000 in the week ending August 18th. The 4-week moving average rose 7,000 to 379,000. 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.

• Contract Electronics Manufacturer (CEM) Flextronics lost 2.38% after announcing that it is acquiring Telecom Global Solutions, a networking services company.

• Exodus Communications lost 2.48% after its CEO stated in a USA Today interview that the web hosting giant is open for a takeover.

• Orders management software developer JD Edwards & Co. gained 3.74% after reporting fiscal Q3 losses of 3 cents a share, well below the 8 cents a share loss Wall Street was expecting.

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

• Millenium Cell gained 17.50% after stating that the recent drop in its share prices have been caused errors in its Form 144 filing.

• Orbital Engine gained 42.18% after announcing that it has signed an agreement with auto parts maker Delphi for its lean burn technology.

• Longs Drug Stores gained 7.97% after forecasting a higher profit outlook.

• Cytec Industries gained 6.01% after Lehman Brothers upgraded it to a "strong buy" recommendation.

• AFTER CLOSE: Cisco Systems is still gaining in after hours after announcing that it will restructure its operations into 11 new operating units, instead of its usual 3 broad groups operations.

• AFTER CLOSE: Novell Systems is gaining in after hours after reporting fiscal Q3 earnings of 4 cents a share, well better than the break even First Call was expecting.

• AFTER CLOSE: Linux vendor VA Linux is still losing in after hours after reporting fiscal Q4 losses of a whopping $5.58/share, well higher than the $1.15/share losses posted last year.

• AFTER CLOSE: Electro-Optical Engineering is gaining in after hours after announcing that it is paying $65 million ($36 million of it cash) to acquire Avantas Networks.

• AFTER CLOSE: Electronics Boutique is still gaining in after hours trading after reporting fiscal Q2 losses of 7 cents a share, well better than the 22 cents a share losses First Call estimated. Revenue rose 39.1% and the company's earnings forecast for fiscal Q3 is at least 3 cents a share higher than First Call forecast.

• AFTER CLOSE: ADC Telecommunications is gaining in after hours trading despite reporting fiscal Q3 losses that were 1 cent a share worse than Wall Street estimates, and revenue dropped 39% to $548 million.

• 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

• The after hours market looks pretty good and we expect it to continue in the regular session tomorrow.

STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play, especially technology and Internet shares. 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 AUGUST 22ND. 2001

DOW INDUSTRIAL: 10276.90 = +102.76

NASDAQ: 1860.01 = +28.71

S & P 500: 1165.31 = +8.05

MOST ACTIVE STOCKS & SECTORS

The markets shook off the disappointing Federal Reserve FOMC action yesterday to gain today on optimism. The NASDAQ, which struggled early but staged 2 important rallies in the last 2 hours, had a heavy trading volume of over 1.551 billion shares, while the NYSE had a volume of over 1.119 billion shares traded. Gainers included: Admiralty Bancorp, Applera Applied Biosciences, Applied Materials, Bea Systems, Broadcom, Brocade Communications, Cendant Corp, Ciena Corp, Cisco, Citigroup, Dell, Epix Medical, Ericsson, ExxonMobil, Factsheet Research, Ford Motor Co, GE, Genta Corp, GM, Horizon Health, Isis Pharmaceuticals, Intel, Intuit, JDS Uniphase, KLA-Tencor, Liberate Technology, Lightbridge, Lucent Technologies, Motorola, MP3.Com, Nokia, Nortel Networks, Numerical Technologies, Oracle, Pfizer, Pharmaceuticals Resources, Qualcomm, Semtech Corp, Siebel Systems, Texas Instruments, Tycom Ltd, USEC, Vimpelcom, Vodafone Group Plc, Warnaco Group, and Waters Corp.

MAIN REASONS FOR ACTIVITY

• The Energy Information Agency (EIA) and the American Petroleum Institute (API) reported that for week ending August 17th, US crude oil inventories declined 4.0 million barrels and 5.39 million barrels respectively. As for distillates, the EIA saw an increase of 100,000 barrels, while the API saw a decrease of 856,000 barrels.

• US New Orders for Semiconductor Manufacturing Equipment rose 5% in July, and the May & June figures were revised upwards. Shipments declined 12%, thus pushing up the Bookings-to-Bill ratio up to 0.67.

• The Mortgage Bankers Association (MBA) reported that, its MBA Mortgage Applications Survey for week ending August 17th. rose 0.3%, while the Purchasing Index declined 2.5%. The Refinancing Index also rose by 3.1%. 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.

• Gateway Computer lost 2.10% after Standard & Poor's® cut its credit rating to Junk (high yield) bonds status.

• ExxonMobil gained on the bullish US crude oil report.

• Airtron Holdings, the parent of Airtron Airways, lost 6.75% after issuing a fiscal Q3 earnings warning.

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

• Personal and Small Business financial software developer Intuit gained 22.38% after reporting fiscal Q4 earnings that beat estimates. Prudential Securities upgraded the stock to a "buy" and raised its price target.

• Tellabs lost 0.07% after announcing plans to cut 12% of workforce, or 1,000 jobs, and take a charge in Q3.

• Warnaco Group gained 16.67% after announcing that it will restate its earnings for the last 3 years and take a $43 million charge.

• GM gained 2.69% after reaffirming its fiscal Q3 earnings outlook. GM also made known that business won't get any worst.

• Ciena gained after a research from Infonetics Research shows that the optical gear market will have a whopping $10.3 billion worldwide revenue this year. Standard & Poor's® also announced that, Ciena will be joining its venerated S&P 500 Index.

• Liberate technology gained 2.80% after signing a deal with AT&T to develop interactive television delivery system.

• MP3.Com, which is being acquired by Universal Vivendi, gained 0.40% despite the fact that over 50 music publishers and songwriters sued it today for copyright infringement.

• Pharmaceuticals Resources gained 13.77% after Merck & Co. agreed to sell its 43% stake in the company to a private placement at $369.2 million.

• 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

• Now that the Fed rate cut have disappointed the market, all eyes are now focused on economic releases for the rest of the week.

STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play, especially technology and Internet shares. 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 AUGUST 21ST. 2001

DOW INDUSTRIAL: 10174.14 = -145.93

NASDAQ: 1831.30 = -50.05

S & P 500: 1157.26 = -14.15

MOST ACTIVE STOCKS & SECTORS

The markets closed lower after the Federal Reserve FOMC interest rate announcement. The NASDAQ, which literally plunged after the announcement, had a light trading volume for a Feds announcement day of over 1.327 billion shares, while the NYSE had a volume of over 1.031 billion shares traded. Gainers included: Agilent Technologies, American International Group, Brilliance, Calpine Corp, Cendant Corp, Citigroup, Dr Reddys Lab, E*Trade Group, Extreme Networks, Frontline Ltd, Global Sports, Group 1 Auto, Guidant Corp, Immunex, Lowes Companies, Lucent Technologies, McData, Motorola, OpenTV, Pioneer Corp, Publicis, Sprint PCS Group, Sungard Data Systems, Tenet Healthcare, Triumph Group, Vector Group Ltd, Webex, and Williams Energy.

MAIN REASONS FOR ACTIVITY

• The Federal Reserve FOMC cut interest rates by 25 basis points (0.25%) and stated...... 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.

• Webex gained 2.28% to $20.22/share after Raymond James initiated coverage of it with a "buy" recommendation and raised its price target to $27/share.

• Global Sports gained 2.94% after entering into a technical agreement with K-Mart's BlueLight.Com e-commerce unit.

• Agilent Technologies gained 1.38% despite a disappointing fiscal Q3 earnings report yesterday. Investors however, seem to favor its intent to cut 9% of workforce.

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

• Target lost 4.69% despite announcing fiscal Q2 profits that rose 5%. Target also announced that it is suing K-Mart for "wrong" comparison ads. K-Mart lost 3.75%.

• AOL Time Warner lost 0.77% after announcing that it is cutting 1,200 jobs, or 7.5% of its AOL Internet unit workforce. AOL Time Warner will take a $100 million to $120 million charge in fiscal Q3.

• JP Morgan Chase & Co. lost 1.65% after some reliable source made known that the brokerage giant plans to cut another 3,000 jobs on top the 5,000 already announced.

• Exodus Communications lost 7.19% after announcing that 3 of its 10 board members are resigning for personal reasons.

• Immunex gained 3.95% after announcing that patient trials for its psoriasis treatment, Enbrel™, are showing positive results.

• Extreme Networks gained 1.94% after Needham & Co. upgraded it to a "strong buy".

• Gadzooks lost 1.55% after reporting disappointing earnings today.

• McData gained 1.65% after CE Unterberg Towbin upgraded it to a "strong buy".

• E*Trade Group gained 4.31% after its CEO Christos M. Cotsakos bought 2 million shares of the company from Japan's Softbank.

• OpenTV gained 12.03% after announcing that IBM will use its interactive television software.

• Guidant gained 10.76% after announcing that it will soon introduce a drug coated Stent that when used in arteries, will prevent them from clogging back.

• AFTER CLOSE: Triquint Semiconductor is gaining in after hours trading after making known that it is comfortable with the earnings estimates analysts are expecting.

• 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

• Now that the Fed rate cut have disappointed the market, all eyes are now focused on economic releases for the rest of the week.

STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play, especially technology and Internet shares. 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 AUGUST 20TH. 2001

DOW INDUSTRIAL: 10320.07 = +79.29

NASDAQ: 1881.35 = +14.34

S & P 500: 1171.41 = +9.44

MOST ACTIVE STOCKS & SECTORS

The markets closed higher on the eve of the Federal Reserve FOMC meeting (check out our NEW outlook on tomorrow's decision). The NASDAQ, which rallied in the last 3 hours, had a very light trading volume of over 1.166 billion shares, while the NYSE had a volume of over 0.891 billion shares traded. Gainers included: AMD, AOL Time Warner, Applied Materials, Applied Micro Circuits, AT&T, Broadcom, Cisco Systems, Citigroup, Ericsson, ExxonMobil, GE, Guaranty Bancshares, Hewlett-Packard, Home Depot, Intel, Johnson & Johnson, Lowes Companies, Lucent Technologies, McLeodUSA, Microsoft, Nextel Communications, New England Realty Associates, Nokia, Oracle, OXigene, Philip Morris, Qualcomm, Qwest Communications International, QXL Ricardo Plc, RF Micro Devices, Siebel Systems, Simplex Solutions, Skibo Financial, Sprint PCS Group, Sun Microsystems, Tellium, and WebFinancial.

MAIN REASONS FOR ACTIVITY

• The Conference Board reported that US Leading Economic Indicators rose 0.3% in July, the 4th. straight monthly rise. The Coincident Index rose 0.10%, reversing a 0.10% decline seen last month. The Lagging Index dropped 0.70%. 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.

• Siebel Systems gained 2.59% after its CEO stated at a conference that the economy will turn around in Q3 2002 after the technology bubble is fully deflated.

• Ciena lost 3.67% on a Lehman Brothers downgrade to a "market perform".

• Juniper Networks lost 3.30% on a Buckingham Research downgrade and on some negative comments from SG Cowen (see below).

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

• Cisco Systems gained 1.75% after SG Cowen reported that the routing giant is gaining market share against competitors like Juniper Networks.

• Dell lost today again as it continues to be hit hard on its warning last week.

• JDS Uniphase lost 3.10% after Furukawa Electric of Japan announced that it is selling its 15% stake in the company so as to pay for the fiber-optic unit it acquired from Lucent Technologies.

• Microsoft gained 1.33% after its CEO Steve Ballmar made known that he expects the final version of WindowsXP™ to be ready before this week is out. Mr. Ballmar also made known that Brazilian Universities will now have access to the Windows™ source code so as to develop Windows™ based software.

• OXigene gained 16.24% after issuing a positive comment on its Combretastatin trials, an anti-tumor agent it is testing with Bristol Myers Squibb.

• Tellium gained 18.53% after the American Stock Exchange (AMEX) reported that it will start trading Tellium's options tomorrow.

• 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

• The Federal Reserve FOMC meeting on Tuesday will determine how the markets act this week.

STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play, especially technology and Internet shares. 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 AUGUST 17TH. 2001

DOW INDUSTRIAL: 10240.78 = -151.74

NASDAQ: 1867.01 = -63.31

S & P 500: 1161.97 = -19.69

MOST ACTIVE STOCKS & SECTORS

The markets closed lower due to earnings warnings. The NASDAQ, which was under pressure all day, had a heavy (Friday) trading volume of over 1.301 billion shares, while the NYSE had a volume of over 0.980 billion shares traded. Gainers included: ACLN Ltd, Alaska Communications, Allied Irish Bank, Ashanti Goldfields, BCSB Bancorp, BHP Billiton Plc, Coles Myers Ltd, Comverse Technology, Dominion Resources, DVI inc, Epoch Biosciences, FirstFed Bancorp, Freeport-McMoran Copper & Gold, Gaston Federal Bancorp, Group 1 Auto, Hamilton Bancorp, Inco Ltd, Leeds Federal Bankshares, Libbey, Lucent Technologies, McDonald's, Medicis Pharmaceuticals, Metromedia Fiber Network, New England Business Services, Onix Corp, Palm, Pfizer, PHS Bancorp, Rockwell International, Startek, Vical, WebHire, and WebMethods.

MAIN REASONS FOR ACTIVITY

• US Trade Deficit rose to an anticipated $29.4 billion in June, while the May data was revised to a deficit of $28.5 billion. The Goods sector accounted for the deterioration of trade. 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 lost 4.24% after a Federal Appeals court rejected its proposal to delay the anti-trust case.

• Scientific Atlanta lost 15.07% after withdrawing its fiscal Q1 and full year 2002 guidance due to the poor market for its digital interactive set-top boxes.

• Lucent Technologies gained 0.32% after the 3 major corporate credit reporting agencies made known that the decline in Lucent's credit rating is over for now.

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

• AOL Time Warner lost 0.87% after announcing that it is setting up a new global unit that will be working to attract advertisement customers to its Internet and other media units.

• Dell lost 9.38% today after warning about sales yesterday.

• Bellsouth lost 1.39% after announcing plans to keep its payphone business till 2003, one year longer than planned.

• Ford Motor Co. and General Motors (GM) lost after Moody's and Standard & Poor's warned that they might cut their credit and debt ratings on the auto giants. Separately, Ford Motor Co. announced that it plans to cut 5,000 white collar jobs in North America.

• WebMethods continued its gains today with 12.20% after Goldman Sachs initiated coverage of it to "Outperform" on Wednesday.

• Leeds Federal Bancshares gained 96.23% after Northwest Bancorp agreed to acquire it for $44 million. This news sent smaller bank holding shares higher.

• Disney lost 3.02% after filing with the SEC to raise $7.5 billion through various securities.

• Gold Related shares gained after Gold futures prices closed on the COMDEX at $282/ounce, the highest levels in 12 weeks. Gold has been gaining due to the slumping stock market and a weak US Dollar.

• DVI gained 6.87% after CIBC World Markets upgraded it to a "buy" recommendation.

• AFTER CLOSE: Metromedia Fiber Network is still gaining in after hours trading after receiving a $150 million financial commitment letter.

• 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

• The Federal Reserve FOMC meeting on Tuesday will determine how the markets act next week.

STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play, especially technology and Internet shares. 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 THURSDAY AUGUST 16TH. 2001

DOW INDUSTRIAL: 10392.52 = +46.57

NASDAQ: 1930.32 = +11.43

S & P 500: 1181.66 = +3.64

MOST ACTIVE STOCKS & SECTORS

The markets closed higher due to encouraging economic news. The NASDAQ, which had a final push with 30 minutes to go for the day, had a heavy trading volume of over 1.614 billion shares, while the NYSE had a volume of over 1.061 billion shares traded. Gainers included: 3D Systems, Agile Software, Ann Taylor Stores, AOL Time Warner, Applied Materials, AT&T, Bea Systems, Clarent Corp, Cisco Systems, Community Capital Bancshares, Corning, Credence Systems, EMC Corp, Estee Lauder, Exodus Communications, Ford Motor Co, Gart Sports, GM, HeadHunter.Net, Hewlett-Packard, Hughes Electronics, i2 Technologies, InsMed, Intel, Lucent Technologies, Management Network, McDonald's, Micron Tech, Microsoft, Motorola, Nortel Networks, Northfield Labs, Oracle, Pep Boys, Portal Software, Procter & Gamble (P&G), Qualcomm, Raytel Medical, Right Start, Siebel Systems, Texas Instruments, Urban Outfitters, and Worldcom Group.

MAIN REASONS FOR ACTIVITY

• US Consumer Price Index (CPI), a good measure of consumer inflation, declined 0.3% in July. Core CPI, which excludes volatile energy and food sectors, rose 0.2%.

• The Philadelphia Fed Index worsened in August by declining from -12.2 in July to -23.5 in August. Shipments and Prices Received indices improved, while indices like Inventories, New Orders, Prices Paid, Number of Employees, etc., worsened.

• US Jobless Claims declined 8,000 for the week ending August 11th. to 380,000. The 4 week moving average declined 9,000 to 371,000.

• US New Residential Construction rose 2.8% in July to 1.672 million units. All regions saw an increase expect the Midwest, which saw a decline. 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.

• Ciena lost 30.23% after lowering its fiscal 2001 and 2002 projections, and announcing plans to take a $100 million charge.

• Estee Lauder gained 2.87% after reporting regular earnings but forecasting a higher full year earnings target.

• Ames Department Stores lost 6.41% after announcing plans to close 47 stores and cut 2,000 jobs.

• Medialink Worldwide lost 1.23% after announcing today that it has implemented shareholder rights. Medialink's move is to block a hostile bid from United Business Media, the UK based group that owns PR Newswire™ service...Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• 3D Systems gained 14.77% after reaching an agreement with US anti-trust regulators that have allowed it to go ahead and acquire rival DTM Corp.

• Right Start gained 44.35% after announcing that it is acquiring high end toy retailer Zany Brainy for about $100 million.

• Urban Outfitters gained 16.12% after reporting fiscal Q2 earnings that rose 82%.

• News Corp lost 0.34% after reporting fiscal Q4 earnings of 12 cents a share, 1 cent a share short of Wall Street estimates. News Corp's revenue decline 11.6% to $3.44 billion due to a poor advertisement market for its TV properties.

• AFTER CLOSE: Dell Computer is still losing after reporting fiscal Q2 earnings that met estimates. Revenue came in at $7.6 billion, almost exactly as year before, but below the $7.71 billion Wall Street was expecting. Dell cautioned that its fiscal Q3 sales will be 5% below estimates and and earnings will be 2 cents a share below estimates.

• AFTER CLOSE: Hewlett-Packard is still gaining in after hours trading after reporting fiscal Q3 earnings that beat estimates by 2 cents a share, while revenue declined 14% to $10.1 billion.

• AFTER CLOSE: Agile Software is still gaining in after hours trading after reporting a fiscal Q1 loss that was 2 cents a share less than First Call estimates. Revenue rose from $15.8 million to $23.3 million.

• 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

• The economic data release tomorrow will determine how the markets close the week.

STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play, especially technology and Internet shares. 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 AUGUST 15TH. 2001

DOW INDUSTRIAL: 10345.95 = -66.22

NASDAQ: 1918.89 = -45.64

S & P 500: 1178.02 = -8.71

MOST ACTIVE STOCKS & SECTORS

The markets closed lower due to US productivity data and the strong US Dollar concerns. The NASDAQ, which slumped all day, had a moderate trading volume of over 1.464 billion shares, while the NYSE had a volume of over 1.063 billion shares traded. Gainers included: Agco Corp, AIG, AOL Time Warner, Applied Materials, BJ Services, Cendant, CenturyTel, Coca Cola, Comstock Resources, Cooper Cameron, CSK Auto, Dril-Quip, eBookers.Com, EEX Corp, Ensco International, ExxonMobil, Gillette, Halliburton, Hartman International Industries, Johnson & Johnson, Kerr-McGee, Keryx Biopharmaceuticals, Key Energy, LastMinute.Com, McDonald's, McMoran Exploration, Medialink Worldwide, National Oilwell, National Wireless Holdings, Network Appliance, Nicholas Financial, Nvidia, Pepsico, Pfizer, Sulzer Medica, Tellium, Teva Pharmaceuticals, Too inc, and Weatherford International.

MAIN REASONS FOR ACTIVITY

• The Mortgage Bankers Association (MBA) reported that, for week ending August 10th, its MBA Mortgage Applications Survey Index declined 3.2% to 508.4, while the Purchase Index declined 5.5% to 300.7.

• The Energy Information Agency (EIA) reported that for week ending August 10th, US Crude oil inventory declined 2.8 million barrels, while the American Petroleum Institute (API) saw an increase of 113.000 barrels. For Distillates, both saw decreases of 900,000 barrels and 138,000 barrels respectively.

• US Industrial Production declined a mere 0.1% in July, well below the 0.3% drop economists were expecting. US Industrial Capacity Utilization declined to 77.0%, while Auto Production rose 3.2%, its largest gain in 3 months.

• The National Association of Home Builders (NAHB) reported that, its NAHB Housing Market Index rose 6 points in August to 62. Single Family Sales rose 7 points to 68. Traffic of Potential Buyers index rose 5 points to 45, while the Outlook for Next 6 Months rose 3 points to 69.

• US Business Inventories declined 0.4% in June, thanks to the 0.7% decline in manufacturing inventory, which helped the Inventory-to-Sales Ratio to rise 0.01 to 1.43. 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.

• The markets were spooked after US Treasury Secretary O'Neill appeared on CNBC and reaffirmed the administration's interest in a strong US dollar, despite comments from camps like the World Bank who think the US Dollar is overvalued by at least 20%.

• Medialink Worldwide gained 12.24% after its agreed to consider the takeover offer from United Business Media of the UK, the parent of PR Newswire™.

• Metromedia Fiber Network lost 38.60% after reporting fiscal Q2 losses that were double last year's and wider than Wall Street estimates.

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

• CenturyTel gained 13.36% after Alltel made known that CenturyTel's barriers are making it impossible for it to acquire it.

• CSK Auto gained 13.18% after announcing plans to close 36 stores and cut about 120 jobs.

• AOL Time Warner gained today after announcing that its Instant Message (IM) will be allowed to work with (less threatening) IBM unit Lotus®.

• Agco gained 7.77% on a Goldman Sachs upgrade.

• Oil and gas services stocks were hot today.

• Energy company Enron lost 6.24% after its CEO of 6 months, Jeffrey K. Skilling, resigned. Chairman and former CEO, Kenneth Lay, will assume the CEO duties.

• Sulzer Medica gained 63.46% after submitting a class action settlement plan.

• Teva Pharmaceuticals gained after wining an Arthritis drug patent infringement lawsuit brought against it by the giant European pharmaceutical firm GlaxoSmithKline.

• AFTER CLOSE: Brocade Communications is still losing in after hours after reporting fiscal Q2 earnings that met First Call estimates. Brocade's revenue rose to $116.3 million, which came in higher than the $115.9 million Wall Street was expecting.

• AFTER CLOSE: New Focus is still losing after announcing an impaired $241.6 million charge of goodwill for its acquisition of JCA Technology and Globe Y. Technology. The charge doesn't change the pro forma fiscal Q2 net losses.

• AFTER CLOSE: Advanced Digital Information is still losing in after hours after reporting fiscal Q3 earnings that beat First Call estimates by 1 cent a share. Sales rose 15.7% to $85 million.

• AFTER CLOSE: Corning is still losing in after hours after announcing plans to cut 450 full and part-time jobs in the US, Puerto Rico, Dominican Republic, and Mexico.

• 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

• The economic data release tomorrow will determine how the markets close.
• The escalating violence in the Middle East will influence energy prices for the rest of the week.

STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play, especially technology and Internet shares. 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 AUGUST 14TH. 2001

DOW INDUSTRIAL: 10412.17 = -3.74

NASDAQ: 1964.53 = -17.72

S & P 500: 1186.73 = -4.56

MOST ACTIVE STOCKS & SECTORS

The markets closed lower due to earnings concerns. The NASDAQ, which struggled all day with failed rallies and then dived in the last hour, had a very light trading volume of over 1.229 billion shares, while the NYSE had a volume of over 0.962 billion shares traded. Gainers included: Abercrombie & Fitch, Autonomy Corp, Bea Systems, Best Buy, Cendant, Devon Energy, eBay, Ericsson, Hartmarx Corp, Home Depot, IBM, Immunex, Jack in the Box, JC Penney, Johnson & Johnson, Juniper Networks, Lexicon Genetic, Metromedia Fiber Network, Mitchell Energy, Network Associates, Pfizer, Qwest Communications International, Sprint PCS Group, Texas Instruments, Triquint Semiconductor, Wal-Mart, WebMD, Worldcom Group, and Xenova Group Plc.

MAIN REASONS FOR ACTIVITY

• US Retail Sales were unchanged in July, and grew only a mere 3% over the year.

• The Richmond Fed manufacturing Survey improved in July. Shipment, Backlog Orders and New Orders indices