THE "DAILY BREAD" FOR THE MARKET

Daily Morning Insights on the Market

<---D560--->

MARKET SUMMARY FOR MONDAY NOVEMBER 5TH. 2001

DOW INDUSTRIAL: 9454.11 = +130.57

NASDAQ: 1797.62 = +51.89

S & P 500: 1103.64 = +16.44

MOST ACTIVE STOCKS & SECTORS

The markets closed higher as investors wait on the Federal Reserve FOMC action tomorrow. The NASDAQ, which was hot all day to close at its highest levels since August, had a light trading volume of over 1.271 billion, while the Dow had a volume of over 0.905 billion shares traded. Gainers included: Actuate Corp, Administaff, Amazon.Com, AMD, AOL Time Warner, Applied Materials, Applied Micro Circuits, Ask Jeeves, AT&T, Bea Systems, Bellsouth, Bingham Financial, BMC Industries, Broadcom, Brocade Communications, Cephalon, Ciena Corp, Cisco Systems, Citigroup, Computer Sciences Corp (CSC), Conseco, Convergys Corp, Corning Corp, CNet Networks, Dell, EarthLink, Eden Biosciences, Embratel Part. SA, EMC Corp, Ericsson, Extreme Networks, Gateway Computer, GE, Hibernia Corp, Home Depot, Intel, Intertape Polymer, JDS Uniphase, Juniper Networks, KPMG Consulting, Liberty Media, Lucent Technologies, Manpower Corp, Microsoft, Motorola, Network Appliance, Nokia, Nortel Networks, Oracle, Orbital Sciences, Overture Services, PMC-Sierra, Prophet 21, Qlogic, Qwest Communications International, Robert Half International, Royal Caribbean, Siebel Systems, Sprint FON Group, Sun Microsystems, Telebras HOLDRS, Telemig Celular Part. SA, Tele Norte Leste Part. SA, Tele Celular Sul Part. SA, Telesp Celular Part. SA, Texas Instruments, TMP Worldwide, Tripath Imaging, Tyco International, Verisign, Veritas Software, WebMethods, Xilinx, and Yahoo!

MAIN REASONS FOR ACTIVITY

• The National Association of Purchasing Managers (NAPM) reported that, its Non-Manufacturing PMI Index declined from 50.2% seen in September to 40.6% in October - any point below 50% is a contraction. The Inventory Index rose from 44.5% to 48.0%, while all the other indices declined and were below 50%.

• The Chicago Fed National Activity Index (CFNAI) improved from -1.30 seen in August to -1.28 seen in September. The 3 month moving average improved from -1.02 seen in August to -0.95 seen in September. This data shows that the Federal Reserve FOMC will now cut interest rates at least......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.

• Ask Jeeves gained 10.68% after Ford Motor Company renewed its Jeeves Solutions™ contract and decided to expand the services to include its Fleet Division. 

• Troubled energy group Enron declined 1.15% despite reports in the UK Independent newspaper that Anglo-Dutch group Royal Dutch/Shell is planning to make a $11 billion bid for the company. Also today, Fitch® downgraded the company's senior unsecured debts to "BBB-minus", its subordinate debt to "BB", and its commercial paper to "F3" ratings. Ouch!

• Microsoft gained 3.05% despite a Wall Street Journal article that the 18 State Attorney Generals want some serious revisions in the agreement before it is submitted to the US Court tomorrow.

• Pixar Animation lost 4.77% despite the stellar performance of its Monsters, inc.™ movie at the box office.

• Manpower and Robert Half International had strong gains after UBS Warburg upgraded the temporary staffing giants.

• The London Stock Exchange (LSE) to closed higher due to.............Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• Juniper Networks gained 15.91% after Buckingham Research had positive comments on the stock.

• AOL Time Warner gained 4.62% to close at $33.49/share after Thomas Weissel reiterated its "buy" recommendation on the stock. Thomas Weissel thinks the Harry Potter™ franchise could generate $300 million in profits for the media giant over the year, and $2 billion over time.

• Conseco gained 18.33% after its CEO Gary Wendt bought 1 million shares of the company last week.

• Bellsouth gained 2.60% after warning about 2001 figures, but projecting 2002 earnings increase of 7% to 9%, and revenue increase of 5% to 7%. Bellsouth plans to cut expenses and boost its internet related services.

• Nortel Networks gained 6.46% after wining a 4-year, $1.1 billion contract from Sprint FON to supply equipment and know how so as to transform its local network into a packet-based network. Sprint FON gained 1.99% on the news.

• Brazilian American Deposit Receipts (ADRs), especially the telecommunications sector, gained on optimism that South American neighbor Argentina will not default on its $132 billion debt interest payment.

• AFTER CLOSE: Cisco Systems is still gaining in after hours trading after reporting fiscal Q1 earnings of 4 cents a share, a whopping 2 cents a share better than First Call estimates, while revenue came in at $4.19 billion, which also beat the $4.16 billion Wall Street was expecting.

• AFTER CLOSE: TMP Worldwide, the parent of job portal Monster.Com, is still gaining in after hours trading after reporting fiscal Q3 earnings of 35 cents a share, 1 cent a share better than First Call estimates, while commissions and fees declined by $19.9 million over the year to $361.2 million.

• AFTER CLOSE: Biotechnology company Cephalon is losing in after hours trading despite reporting fiscal Q3 earnings of 42 cents a share, a whopping 36 cents a share better than First Call estimates, while revenue rose 199% to $83.8 million. Cephalon raised its fiscal 2001 earnings estimates.

• AFTER CLOSE: KPMG Consulting is still gaining in after hours after reporting fiscal Q1 earnings that beat First Call estimates by 3 cents a share, while revenue declined 10% from year ago to $609 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

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.

<---D559--->

MARKET SUMMARY FOR FRIDAY NOVEMBER 2ND. 2001

DOW INDUSTRIAL: 9323.54 = +59.64

NASDAQ: 1745.73 = -0.57

S & P 500: 1087.20 = +3.10

MOST ACTIVE STOCKS & SECTORS

The markets closed mixed on disappointing economic data. The NASDAQ, which was zigzag all day, had a heavy trading volume of over 1.645 billion, while the Dow had a volume of over 1.108 billion shares traded. Gainers included: Aetna, AK Steel Holdings, AMD, AMR, Applied Materials, AT&T, Bea Systems, Biomarin Pharmaceuticals, Boeing Co, Broadcom, Charter Communications, Cigna, Citigroup, Computer Sciences Corp (CSC), Conseco, Criticare Systems, Dell, ECI Telecom, EMC Corp, Gateway Computer, GE, General Dynamics, General Mills, Global Power Equipment Group, High Plains Corp, Home Depot, i2 Technologies, ICTS International NV, Intel, JD Edwards & Co, Lehman Royal Caribbean, Lucent Technologies, Maxtor Corp, Micron Tech, Mykrolis Corp, Navistar International, Newport News Shipbuilding, NIDEC Corp, Nokia, Northrop Grumman, Northwest Airlines, Oracle, Orbital Sciences, Oregon Steel, Phoenix Companies, Prudential Plc, Qualcomm, Rayovac Corp, Read-Rite Corp, Sun Microsystems, Texas Instruments, Three Five Systems, Tommy Hilfiger, Turkcell, Tyco International, UnitedHealth Group, Verisign, Western Digital, Xilinx, and Zarlink Semiconductor.

MAIN REASONS FOR ACTIVITY

• US Non-farm Payrolls declined a whopping 415,000 in October, the largest decline in 2 decades. The Unemployment Rate rose 50 basis points (0.50%) to 5.4%. The Average Workweek, Manufacturing workweek and overtime all declined.

• The Economic Cycle Research Institute (ECRI) reported that, its Future Inflation Gauge (ECRI FIG) for October declined to 96.0, its lowest level in 26 years.

• US Factory Orders declined 5.8% in September. Shipments declined 4.25%. Inventories declined 0.87%. Semiconductors and related devices orders rose 16.71%, the second consecutive month of strong gains. Communications Equipment Orders declined 39.77%.

• Worldwide Semiconductor Sales declined 2.5% in September. Asia pacific saw an increase of 2.6%, while the Americas, Europe and Japan had declines. This data shows that the Federal Reserve FOMC will now cut interest rates at least......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.

• ExxonMobil and other oil related shares closed lower after crude oil prices closed below $20/barrel. 

• Software company JD Edwards & Co. gained 24.44% after stating that its earnings will beat Wall Street estimates due to increases in its licensing fees.

• Natural gas distributor NiSource lost 12.30% after reporting a wider than expected loss. Goldman Sachs and Merrill Lynch downgraded the stock.

• CIMA Labs, HomeStore.Com, and Noven Pharmaceuticals closed lower due to their earnings reports yesterday.

• Prudential Plc. helped the London Stock Exchange (LSE) to close higher after announcing..........Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• Computer Sciences Corp. (CSC) gained 18.09% to close at $40.08/share after Lehman Brothers raised its price target on the stock to $48 a share from $40/share due to its strong earnings report yesterday.

• Cigna gained 11.58% after reporting fiscal Q3 earnings that beat First Call estimates by 17 cents a share.

• Boeing gained 3.50% after announcing today that it will accelerate its plans to cut 30,000 jobs by 6 months.

• AMR, parent of American Airlines, gained 0.75% despite news that Northwest Airlines have filed papers with US Department of Transportation urging it to reject the American Airlines-British Airways alliance.

• Northrop Grumman gained after announcing that the US Department of Justice have in effect cleared the way for its acquisition of Newport News Shipbuilding. Newport News Shipbuilding and former bidder General Dynamics all gained.

• AFTER CLOSE: The Department of Justice and State Attorney Generals reached a settlement with Microsoft that will allow PC makers and software developers more access to Windows™ code, without the software giant being broken up.

• A PUBLIC PROTEST: The recent massacre of unarmed TIV villagers by the Nigerian Military is to say the least, very disappointing. The Tivs, who have long rejected the forceful Islamic intimidations and assimilation from the north, have found themselves in a state controlled ethnic cleansing ordered by the president of Nigeria, General Olusegun Obasanjo, so as to curry favors with his Islamic handlers. It is indeed a sad week for democracy. 

• 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, 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.

<---D558--->

MARKET SUMMARY FOR THURSDAY NOVEMBER 1ST. 2001

DOW INDUSTRIAL: 9263.90 = +188.76

NASDAQ: 1746.30 = +56.10

S & P 500: 1084.10 = +24.32

MOST ACTIVE STOCKS & SECTORS

The markets closed higher on Microsoft settlement news, despite disappointing economic data. The NASDAQ, which rallied after 10:30 AM, had a very heavy trading volume of over 1.787 billion, while the Dow had a volume of over 1.292 billion shares traded. Gainers included: Agere Systems, AMD, AOL Time Warner, Applied Materials, AT&T Wireless, Berkshire Hathaway, Broadcom, Brocade Communications, Ciena Corp, CIMA Labs, Cisco Systems, Citigroup, CKE Restaurants, Dell, Delta Air Lines, E-Cruiter.Com, EMC Corp, Entrust, Ericsson, ExxonMobil, Fusion Medical, Gartner Corp, GE, General Mills, Infenion Technologies, Intel, JDS Uniphase, JP Morgan Chase & Co, Lucent Technologies, Micro General, Microsoft, Network Appliance, Nextel Communications, Nokia, Noven Pharmaceuticals, Oracle, OXIgene, Peoplesoft, Pfizer, Qlogic, Qualcomm, Rhodia Corp, Ross Systems, SBC Communications International, Siebel Systems, Silicon Graphics, Sun Microsystems, Telecom Argentina SA, Telik Corp, Teradyne, Texas Instruments, UAL, Veritas DGC, Veritas Software, Wal-Mart, WebMethods, Wesco International, Worldcom Group, Xilinx, and Yahoo!

MAIN REASONS FOR ACTIVITY

• The National Association of Purchasing Managers (NAPM) reported that its NAPM Index, a good measure of manufacturing activity in the country, declined to 39.8% in October - any point below 50% is a contraction. The Supplier Deliveries Index declined to 49.2%, while the other indices declined and all closed well below 50%.

• US Jobless Claims for week ending October 27th. declined 10,000 to 499,000. The 4-week moving average declined 9,000 to 497,000.

• US Personal Income growth was statistically unchanged in September, due to a less than 0.1% growth. US Personal Consumption declined 1.8%, while the Savings Rate rose 6 basis points (0.60%) to 4.7%. The PCE Deflator declined 0.6%, its largest drop this year. Wages and Salaries were unchanged for the period.

• US Construction Spending declined 0.4%, or $3 billion in September. Private Residential and Non-residential construction accounted for the decline. Public Building construction rose 1.2% for the month, due primarily to the 5.1% increase in Educational Construction projects. This data shows that the Federal Reserve FOMC have room to cut interest rates further next Tuesday without fear of inflation. 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.

• Sun Microsystems gained 6.80% after its CEO stated that the company can survive the downturn for a couple of years if necessary. 

• Microsoft gained 6.35% today as all day meetings between the States Attorney Generals and the Department of Justice raised hope that the 2 sides will reach an agreement by tomorrow, the last day of the Court ordered agreement timetable.

• General Mills gained 2.35% after finally acquiring Pillsbury™ brand from UK drinks company, Diageo Plc, for $10.4 billion.

• Airline giants Delta Air Lines and UAL, parent of United Airlines, gained after reporting fiscal Q3 losses that were less severe than Wall Street was expecting

• The London Stock Exchange (LSE) closed higher due to..........Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• Washington Mutual lost 5.40% after filing with the SEC to periodically sell $1 billion in debt securities. Analysts are cautious on Washington Mutual on fears that the refinancing boom is about to end. On the upside, UBS Warburg upgraded the stock to a "strong buy" based on its stock price.

• Warren Buffett's Berkshire Hathaway gained 1.40% (or $10,000!) on news that the company is nearing the acquisition of bankrupt Fruit of the Loom™ for about $840 million in cash. Berkshire have acquired over 10 companies in the last 2 years.

• Troubled energy dealer Enron lost another 13.74% today after Standard & Poor's cut the ratings on its senior unsecured debts to "BBB", its subordinate debts to "BBB-minus", and its Commercial Paper to "A-3", and promises to cut again if need be. On the upside, Enron today secured a $1 billion loan from Citigroup and JP Morgan Chase & Co.

• WebMethods gained 24.05% after Morgan Stanley Dean Witter upgraded it to an "outperform".

• AOL Time Warner gained 4.95% after moving its CFO, Mike Kelly, to the post of COO, and promoting the CFO of its Turner Broadcasting unit to AOL Time Warner's CFO. AOL Time Warner also released a new version of its highly popular ICQ™ chatting technology.

• Wal-Mart gained 1.63% after reiterating its fiscal Q3 and Q4 outlook, and mentioning that it is still gaining market share. Wal-Mart also withdrew an earlier statement that it will have the exclusive rights to Polaroid™'s film.

• AFTER CLOSE: Priceline gaining in after hours trading after reporting fiscal Q3 earnings of 3 cents a share, 2 cents a share better than First Call estimates. Revenue declined $39 million over the year to $302 million, which still beat estimates by $12 million. Priceline also announced that most of its businesses have either recovered fully from the September 11th. attacks, or it is about 90% recovered. Priceline raised its fiscal Q4 guidance and indicated it doesn't need to cut staff.

• AFTER CLOSE: Software developer Bea Systems is still losing in after hours trading after announcing that it expects to meet fiscal Q3 numbers, but lowered fiscal Q4 estimates. Bea Systems announced that it will cut between 297 to 330 jobs and close some facilities so as to cut cost.

• AFTER CLOSE: Computer Sciences Corp. (CSC) is gaining in after hours trading after reporting fiscal Q2 2002 earnings of 40 cents a share, 2 cents a share better than half First Call estimates. Revenue not only beat estimates, but rose 11% over the year to $2.8 billion.

• AFTER CLOSE: HomeStore.Com is still losing in after hours trading after reporting fiscal Q3 net loss announcing that it will take a restructuring charge in fiscal Q4.

• AFTER CLOSE: CIMA Labs is losing in after hours trading despite reporting fiscal Q3 earnings that beat Wall Street estimates, and revenue that not only beat estimates, but rose 64% over the year. CIMA Labs however, lowered its fiscal Q4 outlook.

• AFTER CLOSE: Noven Pharmaceuticals is losing in after hours trading after reporting fiscal Q3 earnings of 10 cents a share, as revenue declined slightly to $10.4 million. Noven reported that, its joint venture with Norvatis Pharmaceuticals, Novogyne Pharmaceuticals, contributed $5.3 million to its profits, almost double the previous numbers.

• AFTER CLOSE: Governor Gray Davis of California announced that, there is credible information that terrorist are targeting at least one of the Suspension bridges in the state. Folks, be careful out there.

• A PUBLIC PROTEST: The recent massacre of unarmed TIV villagers by the Nigerian Military is to say the least, very disappointing. The Tivs, who have long rejected the forceful Islamic intimidations and assimilation from the north, have found themselves in a state controlled ethnic cleansing ordered by the president of Nigeria, General Olusegun Obasanjo, so as to curry favors with his Islamic handlers. It is indeed a sad week for democracy. 

• 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, 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.

<---D557--->

MARKET SUMMARY FOR WEDNESDAY OCTOBER 31ST. 2001

DOW INDUSTRIAL: 9075.14 = -46.84

NASDAQ: 1690.21 = +22.80

S & P 500: 1059.01 = -0.78

MOST ACTIVE STOCKS & SECTORS

The markets closed mixed as the NASDAQ gained on good GDP data. The NASDAQ, which rallied all day, had a very heavy trading volume of over 1.889 billion, while the Dow had a volume of over 1.323 billion shares traded. Gainers included: ACT Manufacturing, American Axle & Manufacturing, Anthem, Applied Materials, Applied Micro Circuits, AT&T Wireless, Ballard Power, Broadcom, Brocade Communications, Cisco Systems, Comfort Systems USA, Dell, Dr. Reddys Labs, EMC Corp, Enron Corp, Ericsson, Ford Motor Co, Freeport-McMoran Cooper & Gold, GE, Globespan, Home Depot, i2 Technologies, I-Many, JDS Uniphase, Logicvision, Louisiana-Pacific, Lucent Technologies, Manugistics Group, Martha Stewart Living Omnimedia, Micron Technology, Mortons Restaurant, Motorola, Multex.Com, Nanogen, NetGuru, Network Appliance, Nokia, Odyssey Healthcare, Oil States International, Oracle, Pediatrix Medical Group, Penton Media, Peoplesoft, Primedia, Qlogic, Qualcomm, Readers Digest, Royal Caribbean Cruise, Saba Software, Solectron, Sonus Pharmaceuticals, Sun Microsystems, Tellabs, Texas Instruments, Tommy Hilfiger Group, Veritas Software, Viacom, Wachenhut, Williams Communications, and Worldcom Group.

MAIN REASONS FOR ACTIVITY

• The Mortgage Bankers Association (MBA) reported that, its MBA Mortgage Applications Survey for week ending October 26th. declined 6,000 to 843.5. The Purchase Index gained 700 to 265.9, while the Refinance Index declined 8,200 to 4203.5.

• The US Gross Domestic Product (GDP) for the Third Quarter (Q3) declined only 0.4% to $9.333 Trillion, well below what economists were expecting. Q3 Consumption rose 1.2%, Business Spending on equipment and software declined 13.4%. Government Spending declined declined to an annualized rate of 1.8%. Net Exports improved by $50 billion from quarter before, as Inventories also improved. The Implicit Price Deflator rose a surprising 2.1%.

• The Energy Information Agency (EIA) and the American Petroleum Institute (API) reported that for week ending October 26th, US crude oil inventory increased 600,000 barrels and 884,000 barrels respectively. The EIA reported that Distillates increased by 400,000 barrels, while API saw a decline of 262,000 barrels.

• The Chicago Purchasing Managers Association reported that its Chicago PMI, a good measure of manufacturing activity in the Chicago area, declined slightly by 4 basis points to 46.2% - any point below 50% is a contraction. The Production Index declined, but closed at 50.8%, while the other indices declined and closed below the 50% mark. 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.

• Saba Software gained 40.50% after General Motors (GM) selected its software to manage training at its General Motors University. 

• Royal Caribbean gained 5.47% after Bear Stearns upgraded it to "attractive" due to its strong earnings report yesterday.

• Qwest Communications International lost 19.06% after surprising Wall Street by reporting a fiscal Q3 loss and poor sales. Wall Street was quick with punishment as AG Edwards, Goldman Sachs, and Merrill Lynch all downgraded the stock.

• Generic Drugs maker Teva Pharmaceuticals lost 3.17% despite reporting fiscal Q3 earnings that beat First Call estimates, and sales that rose 12%.

• The London Stock Exchange (LSE), aided by banking shares, closed..........Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• i2 Technologies gained 9.09% after announcing that Toshiba of Japan will use its Supplier Relationship Management Solutions for its Semiconductor unit.

• IPOs Today: Logicvision, an embedded test software for chip makers, closed 6.78% above its offering price. Odyssey Healthcare, a hospices operator, closed 15% above its offering price.

• Williams Communications gained 27.48% after announcing that it has amended the bank credit facility covenant that required it to raise additional capital year end.

• Manugistics Group gained 25.20% after Reuters reported that the CEO of the company is comfortable with the "conservative guidance" for fiscal Q3. Manugistics expects growth to return in fiscal Q4.

• India based generic medicines maker Dr. Reddys Labs gained 9.26% after reporting fiscal Q2 earnings that beat Wall Street estimates, as sales rose a whopping 92%.

• Martha Stewart Living Omnimedia gained 16.67% after reporting fiscal Q3 earnings that beat First Call estimates by 1 cent a share, as revenue rose 13% to $69.6 million.

• Oracle gained 0.44% after CIBC World Markets upgraded it to a "buy".

• Tellabs gained 2.55% after Sprint selected its equipment to use as tries to expand its long distance network in Europe and Asia.

• AFTER CLOSE: Globescan is still gaining in after hours trading after reporting fiscal Q3 losses that were half what Wall Street was expecting, as revenue declined 58% to $46 million.

• AFTER CLOSE: Nanogen is losing in after hours trading after reporting fiscal Q3 loss of 33 cents a share, 2 cents a share less losses than First Call estimated, but 11 cents a share wider than the year before. Revenue declined by $300,000 to $3.2 million.

• AFTER CLOSE: ACT Manufacturing is losing in after hours trading after reporting fiscal Q3 pro forma profit that was half First Call estimates. ACT Manufacturing stated that it cut 853 jobs in Q3, and has cut another 1,000 jobs in October already.

• AFTER CLOSE: Unocal announced that its Chairman, John W. Creighton is stepping down as Chairman, but will still be a director. Unocal's CEO, Charles R. Williamson, will now be both CEO and Chairman.

• AFTER CLOSE: Alltel announced that it has signed a $1.9 billion deal with Verizon Communications to acquire 600,000 phone lines serving residents of Kentucky. Alltel already has 40,000 customers in Kentucky.

• A PUBLIC PROTEST: The recent massacre of unarmed TIV villagers by the Nigerian Military is to say the least, very disappointing. The Tivs, who have long rejected the forceful Islamic intimidations and assimilation from the north, have found themselves in a state controlled ethnic cleansing ordered by the president of Nigeria, General Olusegun Obasanjo, so as to curry favors with his Islamic handlers. It is indeed a sad week for democracy. 

• 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, 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.

<---D556--->

MARKET SUMMARY FOR TUESDAY OCTOBER 30TH. 2001

DOW INDUSTRIAL: 9121.98 = -147.52

NASDAQ: 1667.41 = -32.11

S & P 500: 1059.79 = -18.51

MOST ACTIVE STOCKS & SECTORS

The markets closed lower due to the consumer confidence data. The NASDAQ, which struggled all day, had a heavy trading volume of over 1.792 billion, while the Dow had a volume of over 1.302 billion shares traded. Gainers included: Anthem, Ashanti Goldfields, AutoNation, Axonyx, Brandywine Realty Trust, Brilliance, British Biotech Plc, Brocade Communications, Calgon Carbon Corp, Carnival Cruise Line, Cisco Systems, Concord EFS inc, CrossWorlds Software, eBay, Epix Medical, Ericsson, Fairmont Hotels, Given Imaging, HCA inc, Ikon Office, Meridian Gold, Metso Corp, Metromedia Fiber, Mykrolis Corp, Network Appliance, Newell Rubbermaid, Newmont Mining, Nokia, Odwalla, Oracle, P&O Princess Cruise Plc, Placer Dome, Procter & Gamble (P&G), Qlogic, Read-Rite, Royal Appliance Manufacturing, Royal Caribbean Cruise, RSA Security, Sequenom, Sprint PCS Group, Storage Technology, Verisign, Viisage Technology, and Yanzhou Coal Mining.

MAIN REASONS FOR ACTIVITY

• The Conference Board reported that US Consumer Confidence declined drastically in October to 85.5%, its lowest levels since 1994. The Expectations Index declined 7 points. 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.

• Procter & Gamble (P&G) gained 4.07% after Salomon Smith Barney upgraded it to a "buy". 

• Viisage Technology gained 6.11% after announcing that it has teamed up with leading surveillance systems maker Pelco® to implement the first face recognition technology at a US airport. The 2 companies installed their device at the Fresno-Yosemite International Airport on October 26th.

• CrossWorlds Software gained 28.55% after announcing that IBM is acquiring it for $129 million.

• Cisco Systems gained 0.91% after Morgan Stanley Dean Witter had upbeat comments about it, especially its market share in Europe.

• The London Stock Exchange (LSE) closed lower due to..........Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• Ford Motor Co. lost 0.99% after the company announced that its CEO, Jacques Nasser has resigned, and its Chairman, William Clay Ford jr. will assume the roles of both Chairman and CEO - the first Ford to have full control of that company since 1979. Former Wells Fargo & Co. chairman, Carl Reichardt, will join the Ford board as Vice Chairman of Finance.

• IPO Today: Anthem, a national health benefits management company, closed 13.61% above its offering price.

• Royal Caribbean Cruise Line gained 13.99% and led the sector to close higher after reporting fiscal Q3 earnings that were 9 cents a share better than Wall Street estimates.

• Gold mining shares gained today as funds seek safe havens due to the continued drop in stock prices and increased warnings about a possible new wave of terrorist attacks.

• HCA gained 0.78% after Merrill Lynch added it to its "Focus One List" and reiterated its "buy" recommendation.

• Verizon Communications lost 1.77% after reporting fiscal Q3 earnings that beat Wall Street estimates by 1 cent a share, but lowered its fiscal Q4 earnings outlook due to the September 11th. Terrorist attacks.

• Soft drinks maker Odwalla gained 27.90% to $15.13/share after agreeing to be acquired by Coca Cola for $15.25/share. Coca Cola closed 0.93% lower.

• Axonyx gained 6.34% after announcing that the phase II clinical trials for its Alzheimer's disease treatment, Phenserine™, was encouraging.

• Metromedia Fiber gained 4.29% after Sony Pictures Digital Entertainment selected it as its Internet Infrastructure Managed Services for its 2-way Interactive web based Screenblast™.

• AFTER CLOSE: Ingram Micro reported fiscal Q3 earnings of 4 cents a share, 2 cents a share better than First Call estimates. Revenue declined over the year to $5.38 billion. Ingram Micro lowered its fiscal Q4 earnings and revenue estimates.

• AFTER CLOSE: Read-Rite is still gaining in after hours trading after reporting fiscal Q4 earnings of 6 cents a share, a whopping 5 cents a share better than First Call estimates. Revenue came in at $146 million.

• AFTER CLOSE: SCI Systems reported fiscal Q1 earnings that beat First Call estimates by 1 cent a share, while revenue declined to $1.77 billion.

• AFTER CLOSE: CrossWorlds Software reported fiscal Q3 earnings of 3 cents a share, well better than First Call estimated loss of 4 cents a share.

• AFTER CLOSE: Adobe Systems is losing in after hours trading after issuing an earnings and revenue warning for fiscal Q4. Adobe Systems plans to cut 150 jobs, and take about $8 million to $10 million in charges in Q4.

• AFTER CLOSE: Flour is still losing in after hours trading after reporting fiscal Q3 net losses that widened.

• A PUBLIC PROTEST: The recent massacre of unarmed TIV villagers by the Nigerian Military is to say the least, very disappointing. The Tivs, who have long rejected the forceful Islamic intimidations and assimilation from the north, have found themselves in a state controlled ethnic cleansing ordered by the president of Nigeria, General Olusegun Obasanjo, so as to curry favors with his Islamic handlers. It is indeed a sad week for democracy. 

• 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