THE "DAILY BREAD" FOR THE MARKET

Daily Morning Insights on the Market

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MARKET SUMMARY FOR MONDAY NOVEMBER 19TH. 2001

DOW INDUSTRIAL: 9976.46 = +109.47

NASDAQ: 1934.42 = +35.84

S & P 500: 1151.06 = +12.41

MOST ACTIVE STOCKS & SECTORS

The markets closed higher as low interest rates, low oil prices, and the possibilities of a quick end to the Afghan conflict helped the markets close higher (Technically, it was a bull market). The NASDAQ, which was up all days and had a vertical surge in the last 20 minutes, had a very heavy trading volume of over 1.925 billion, while the Dow had a volume of over 1.287 billion shares traded. Gainers included: Abgenix Corp, ADC Telecommunications, Agilent Technologies, Alcoa, America West Holdings, AOL Time Warner, Asia Global Crossing, Bea Systems, Broadvision, Brocade Communications, Celanese, Ciena Corp, Cisco Systems, Citigroup, CKE Restaurants Group, Compaq, Conoco, Corning, Dell, Digex, Disney, Ditech Communications, EMC Corp, Enron, Ericsson, Exelixis, GE, Genomica, Handspring, Home Depot, Hot Topic, i2 Technologies, Intel, Invision Technology, Jazztel Plc, JDS Uniphase, Juniper Networks, Lifecore Biomedical, Lowes Companies, Lucent Technologies, McLeodUSA, Micron Technology, Microsoft, Nortel Networks, Novagen, Opinion Research, Oracle, Palm, Peoplesoft, Pfizer, Pharmacia Corp, Philips Petroleum, Providian Financial, Qualcomm, Qwest Communications International, Safeguard Scientifics, Santa Barbara Restaurant Group, Satyam Computer, Satyam Infoway Ltd, SCM Microsystems, Semtech, Sungard Data Systems, Sun Microsystems, Tellabs, Tickets.Com, Tyco International, VerticalNet, Vimpelcom, UAL, US Airways, Williams Communications, Wipro Ltd, Worldcom Group, Xerox Corp, XO Communications, and Yahoo!

MAIN REASONS FOR ACTIVITY

• US New Residential Construction declined 1.3% in October to 1.552 million. The Northeast and the Midwest saw gains. The South was unchanged, while the West lost. 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.

• Palm and Handspring gained 12.83% and 32.25% respectively on speculation that now that Palm's CEO is out of the way, the 2 handheld device makers might merge.

• AOL Time Warner gained 2.30% after DB Alex Brown raised its price target on the stocks after Harry Potter™ grossed $93.5 million in Canada and the USA in just 3 days. The market is expecting a Star Wars™ like phenomenon.

• Airline stocks gained after President George W. Bush signed the Aviation Security Bill into law.

• Xerox Corp gained 10.94% after securing $800 million from GE Capital to help finance purchases for its Canadian and European customers.

• Peoplesoft gained 11.40% after announcing that it will meet its guidance due to a strong orders outlook. 

• Pharmacia gained 9.31% after the FDA approved its Arthritis drug, Bextra™, significantly earlier than expected.

• Philips Petroleum gained 2.95% after agreeing to a $15.2 billion merger with Conoco. The new entity will be called ConocoPhilips, which will be the 3rd. largest US oil company, but the largest refineries operator.

• 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.

• Alcoa gained 3.69% after announcing plans to cut 4.6% of its staff, or 6,500 jobs and close some plants. Lower metal prices are forcing producers like Alcoa to streamline operations.

• Oil prices closed lower at $17.72% a barrel after the Russian Federation refused to go along with OPEC's oil cut.

• Lowes Companies gained 6.82% after reporting fiscal Q3 earnings that rose 24%. Rival, Home Depot, gained 2.77% on the news.

• Nordstrom gained 11.39% after reporting strong earnings and raising its outlook yesterday.

• Lifecore Biomedical gained 24.69% after wining an FDA approval to market Gyncare Intergel™, a gel that reduces scarring in gynecological surgeries.

• Santa Barbara Restaurant Group gained 49.79% after agreeing to be acquired by CKE Restaurants Group for $54 million in stock. CKE Restaurants gained 2.04%.

• Novagen gained 30.86% after the FDA approved the speeding up of clinical trials for Phenoxodiol™, its experimental Cancer drug that has performed very well in trials conducted in Australia.

• AFTER CLOSE: LoudCloud is gaining in after hours trading after reporting fiscal Q3 losses that were 6 cents a share less than First Call estimates, while revenue more than tripled to $14.3 million. LoudCloud also raised up its fiscal Q4 outlook.

• AFTER CLOSE: Semtech is still gaining in after hours trading after reporting fiscal Q3 earnings of 10 cents a share, 1 cent a share better than First Call estimates, while revenue declined 37% to $43.7 million. Semtech also raised its fiscal Q4 outlook.

• AFTER CLOSE: Exelixis announced that it is paying $110 million in stock to acquire Genomica.

• AFTER CLOSE: Retailer Hot Topic is losing in after hours trading after reporting fiscal Q3 earnings that met Wall Street estimates, as sales rose 28% to $92.1 million. Hot Topic announced that it is opening 12 new Torrid™ stores in 2002.

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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.

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MARKET SUMMARY FOR FRIDAY NOVEMBER 16TH. 2001

DOW INDUSTRIAL: 9866.99 = -1.99

NASDAQ: 1898.58 = -1.99

S & P 500: 1138.65 = -3.59

MOST ACTIVE STOCKS & SECTORS

The markets closed lower due to economic data and an airport scare in Atlanta. The NASDAQ, which rallied in the last hour of trading, had a heavy trading volume of over 1.712 billion, while the Dow had a volume of over 1.347 billion shares traded. Gainers included: 724 Solutions, AES Corp, Airtran Holdings, All American Semiconductor, Alstom SA, Ambassadors International, Amdocs Ltd, America West Holdings, AMR, Antares Pharmaceuticals, Applied Materials, Applied Micro Circuits, AT&T, Autodesk, Broadcom, CacheFlow, Canwest Global, Cendant Corp, Certicom, Ciena Corp, Continental Airlines, Corning, Corvis Corp, Delta Air Lines, Digex, Disney, Dynacare, EMC Corp, ExxonMobil, Ford Motor Co, Flextronics, Gene Logic, Grand Toys International, Gruma Corp, Hall Kinion & Associates, Handspring, Hawk Corp, JDS Uniphase, Juniper Networks, KLM Royal Dutch Airlines, Lucent Technologies, Manatron, Mesa Air Group, Metawave Communications, MRV Communications, Neorx Corp, Newpark Resources, Nextel Communications, Nokia, Nordstrom, Nortel Networks, Optical Communications, Palm, Pep Boys, Pfizer, Pivotal Corp, Qualcomm, SCI Systems, Serena Software, Smartforce, Sonus Networks, Swift Energy, Tefron Ltd, Tellabs, Tickets.Com, TXC Corp, UAL Corp, US Airways, Williams Communications, XO Communications, Yahoo! and Zindart Ltd.

MAIN REASONS FOR ACTIVITY

• The National Association of Home Builders (NAHB) reported that, its NAHB Housing Market Index for November gained 2 points to 49. The 2 points gain came from Single Family Home Sales expectations in the next 6 months, and the rise in Traffic of Potential Buyers index, which rose 6 points to 39.

• US Consumer Price Index (CPI), a good measure of consumer inflation, declined 0.3% in October, due mostly to low energy prices. The Core CPI, which excludes the energy and food sectors, gained 0.2% for the 4th. month in a row.

• US Industrial Production in October declined 1.1%. Auto production declined 4.0%, while Industrial Capacity Utilization declined to 74.8%, the 13th. monthly decline in a row. 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.

• Palm and Handspring gained 18.28% and 20.85% respectively after the handheld companies introduced hot new products at the COMDEX™ show.

• Airline stocks were hot after the Airline Security Bill was passed in Congress. The cheap oil prices are also a plus for the sector.

• AT&T gained on rumors that it is cutting another 4,000 jobs on top of its planned 9,000.

• American Express lost 3.66% after UBS Warburg downgraded it to a "hold". 

• Yahoo! gained 4.32% after Mary Meeker, the Internet analyst at Morgan Stanley Dean Witter, had optimistic comments and outlook on Yahoo!'s planned job cuts and restructuring.

• Pivotal gained 19.66% after Dresdner RCM Global Investors selected Pivotal's applications to help it improve client services.

• 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.

• Citigroup lost 2.58% after Prudential Securities downgraded it to a "hold".

• Lucent Technologies gained 6.35% after completing the sale of its fiber optics solutions business to Furukawa Electric Co. of Japan, and its junior partner, Corning. As part of the deal, Corning will pay Lucent $225 million for some of the assets. Corning gained 11.67%.

• IPO Today: Dynacare, a clinical labs company, closed 20.86% above its offering price.

• Nordstrom gained 11.39% after reporting strong earnings and raising its outlook yesterday.

• Agilent Technologies lost 3.60% despite reporting results that met Wall Street estimates. Agilent announced that it is cutting 4,000 jobs, and will raise about $1 billion through the sell of senior convertible debentures.

• Dell, Intuit and Starbucks closed lower due to their earnings reports yesterday. Dell, which lost 3.94%, beat both earnings and revenue estimates.

• Tickets.Com gained 18.56% after entering into a strategic alliance with AOL™, the online unit of AOL Time Warner.

• Serena Software gained 15.37% after reporting fiscal Q3 earnings that beat First Call estimates by 2 cents a share, while over the year revenue declined $3.4 million to $23.2 million. Serena Software is still standing by its fiscal Q4 outlook.

• Tellabs gained 11.97% after announcing that it is cutting 1,000 jobs, closing 2 facilities, and will take a $150 million charge in fiscal Q4 due to job cuts and facilities closing.

• 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.

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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.

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MARKET SUMMARY FOR THURSDAY NOVEMBER 15TH. 2001

DOW INDUSTRIAL: 9872.39 = +48.78

NASDAQ: 1900.57 = -2.62

S & P 500: 1142.24 = +1.03

MOST ACTIVE STOCKS & SECTORS

The markets closed mixed as the Dow rallied on good employment data. The NASDAQ, which struggled all day, had a very very heavy trading volume of over 2.024 billion, while the Dow had a volume of over 1.467 billion shares traded. Gainers included: Applied Micro Circuits, AT&T, AT&T Wireless, Bam Entertainment, BF Enterprises, British Airways Plc, Buhrmann NV, CacheFlow, Cendant Corp, Ciena Corp, Cisco Systems, Compaq, Conseco, Corning, Corvis Corp, Cylink Corp, Dana Corp, Dell, Disney, Edgar Online, EMC Corp, Enodis Plc, Ericsson, Franklin Covey, Fuelcell Energy, GE, Handsprings, Hewlett Packard, i2 Technologies, IBM, Intel, Intuit Corp, Korn/Ferry International, LastMinute.Com, Lionbridge Technology, Lucent Technologies, Meristar Hospitality, Microsoft, Network Appliance, Nordstrom, Oakwood Homes, Orchestream Holdings Plc, Palm, Qwest Communications International, Qualcomm, Royal Caribbean Cruise, Satyam Computer, Sirenza Microdevices (formerly Stanford Microdevices), Sirius Satellite Radio, Sony Corp, Starbucks Corp, Sun Microsystems, Taser International, Telewest Communications Plc, Transmeta Corp, Tyco International, UAL Corp, US Airways, VA Linux Systems, Value City Department Stores, Weight Watchers International, Williams Communications, Wipro Ltd, Worldcom Group, and XO Communications.

MAIN REASONS FOR ACTIVITY

• US Business Inventories declined 0.5% in September. All indices declined, while the Inventory-to-Sales Ratio rose from 1.42 to 1.45 due to lower sales after the September 11th. attacks.

• The Philadelphia Fed Survey Index improved in November to -20.2. Average Workweek, Delivery Times, Inventories, New Orders, Number of Employees, Prices Paid, and Unfilled Orders indices improved, while Prices Received, Shipments, and 6 Month Outlook indices closed lower.

• The Energy Information Agency (EIA) reported that for week ending November 9th, US crude oil inventory decreased by 200,000 barrels. The American Petroleum Institute (API) saw an increase of 1.06 million barrels. For Distillates, both the EIA and API saw increases of 2.5 million and 2.41 million barrels respectively.

• US Jobless Claims declined by 8,000 to 444,000 in the week ending November 10th. The 4-week moving average declined 13,000 to 475,000. 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.

• Taser International gained 22.78% after signing an agreement with United Airlines to supply it with stun guns for its airline cockpits. UAL, the parent of United Airlines, gained 6.90% on the news.

• Applied Materials lost 3.98% and took the tech sector lower due to its poor earnings report yesterday.

• IBM gained 0.35% after announcing that demand for its business services unit have picked, while that of its new technology products have cooled.

• Oil shares and prices closed lower as OPEC pressures non-OPEC members. OPEC decided to cut 1.5 million barrels a day in production, and is asking major non-OPEC producers like Mexico, Norway, and Russia to cut another 500,000 barrels a day. 

• Cendant gained 6% after raising its fiscal Q4 outlook and announcing that it is reviewing its investments in HomeStore.Com.

• Fuelcell Energy gained 23.25% after entering into an agreement with Caterpillar where Caterpillar's distributors will carry Fuelcell's Ultra-low emission products.

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

• Data communications security firm Cylink gained 23.61% after unveiling its Link Encryptor T3 leased-in security product line that can handle T3/DS3 transfers at 45Mbps.

• Yahoo! lost 2.50% after announcing plans to cut 300 jobs and shed under performing units. Yahoo! will also shed its youth oriented image and streamline operations.

• IPOs Today: Bam Entertainment, a game developer, closed 1.28% above its offering price. DJ Orthopedics closed 10.29% below its offering price. Weight Watchers International closed 22.92% above its offering price.

• Compaq gained 7% after winning a $20 million exclusive information technology products and services contract with Cardinal Health.

• AFTER CLOSE: CacheFlow is unchanged in after hours trading after reporting fiscal Q3 loss that was 1 cent a share less than First Call estimates, while sales declined $19.3 million over the year to $13.2 million.

• AFTER CLOSE: Dell is losing in after hours trading after reporting fiscal Q3 earnings of 16 cents a share, 1 cent a share better than First Call estimates, as revenue also beat at $7.47 billion.

• AFTER CLOSE: Starbucks is losing in after hours trading after reporting fiscal Q4 earnings that met First Call estimates, while revenue missed by $2.4 million.

• AFTER CLOSE: Intuit is losing in after hours trading after reporting fiscal Q1 losses of 13 cents a share, 2 cents a share less than First Call estimates, while sales rose 11% over the year to $208.8 million, which missed estimates by $700,000.

• AFTER CLOSE: Nordstrom is still gaining in after hours trading after reporting fiscal Q3 earnings of 8 cents a share, a whopping 4 cents a share better than First Call estimates. Nordstrom raised its fiscal Q4 outlook.

• 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.

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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.

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MARKET SUMMARY FOR WEDNESDAY NOVEMBER 14TH. 2001

DOW INDUSTRIAL: 9823.61 = +72.66

NASDAQ: 1903.19 = +11.08

S & P 500: 1141.21 = +2.12

MOST ACTIVE STOCKS & SECTORS

The markets closed higher today on good retail sales data. The NASDAQ, which struggled all day, had a very very heavy trading volume of over 2.173 billion, while the Dow had a volume of over 1.433 billion shares traded. Gainers included: Abercrombie & Fitch, Aether Systems, Agile Software, Amazon.Com, Ann Taylor Stores, AOL Time Warner, Applied Micro Circuits, Atlas Air Worldwide, Bowne & Co, British Airways Plc, Broadwing, Cendant Corp, Ciena Corp, Cisco Systems, Citigroup, Compaq, Corning, Corvis Corp, CV Therapeutics, Dell, Disney, Dynegy, Enron, Federated Department Stores, GE, Great Atlantic & Pacific Tea Co, Hewlett Packard, Home Depot, i2 Technologies, Intel, Interpublic Group, JDS Uniphase, Juniper Networks, Level 3 Communications, Liberty Media, Lucent Technologies, Meritage, Motorola, Nextel Communications, Nokia, Nortel Networks, Oracle, Qwest Communications International, SBC Communications, Siebel Systems, Sun Microsystems, Terayon Communications, Tiffany & Co, Tyco International, Value City Department Stores, Visionics Corp, Wal-Mart, Wausau-Mosiness, Williams Communications, XO Communications, Xoma, and Yahoo!

MAIN REASONS FOR ACTIVITY

• US Retail Sales rose 7.1% in October, about 2 times the growth economists were expecting. Motor Vehicles & parts Dealers, Clothing & Accessories Stores, Food Services & Drinking Places, etc. indices gained, while Furniture & Home Furnishings Stores index was lower.

• The Mortgage Bankers Association (MBA) reported that for week ending November 9th, its MBA Mortgage Applications Survey rose 1.7% to 1055.5. The Purchase Index declined 10.4% to 285.4, while the Refinance Index rose 6% to 5534.5. 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.

• Amazon.Com gained 30.18% due to the strong October retail sales figures.

• Tiffany & Co. gained 6.18% after reporting fiscal Q3 earnings that beat First Call estimates by 3 cents a share.

• Oil shares and prices closed lower after OPEC asked non-OPEC members to support its production cuts. President George W. Bush also requested a release of some of the US crude inventory.

• Ciena gained 1.84% after announcing that it expects to triple its networking equipment market share this year. 

• Yahoo! gained 8.88% after signing with SBC Communications to provide high speed internet access. Yahoo!, which is an online directory, will now be compared properly to other Internet Service providers (ISPs) like AOL™ and Microsoft's MSN™.

• CV Therapeutics gained 25.95% after reporting that late stage clinical trials for Angina heart disease is showing promise.

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

• Federated Department Stores gained 6.55% after reporting fiscal Q3 earnings that beat Wall Street estimates by 2 cents a share, while sales declined 10% over the year to $3.8 billion.

• Advertising giant Interpublic Group gained 20.16% after reporting earnings yesterday that beat First Call estimates.

• Hewlett Packard gained 9.14% after reporting fiscal Q4 earnings of 19 cents a share, a whopping 11 cents a share better than First Call estimates, and revenue of $10.9 billion, which also beat estimates. Hewlett Packard CEO Carly Fiorina reiterated her support for the company's attempts to acquire Compaq. Compaq gained 13.64% as analysts speculate the deal now has a better chance of getting approval due to the strong earnings.

• Great Atlantic & pacific Tea Company gained 9.21% after raising its fiscal Q3 earnings outlook.

• Network Appliance lost 15.94% after reporting fiscal Q2 results yesterday that disappointed.

• AFTER CLOSE: Providian Financial is gaining in after hours trading after announcing plans to close its Henderson Nevada site that employ about 700 people. Providian expects to save $18 million annually.

• AFTER CLOSE: Applied Materials is still losing in after hours trading after reporting fiscal Q4 earnings that missed First Call estimates by 1 cent a share, while revenue declined more than half over the year to $1.26 billion.

• AFTER CLOSE: Aether Systems is still gaining in after hours trading after reporting fiscal Q3 losses that were 2 cents a share less than First Call estimates, while revenue rose over the year to $25 million. Aether Systems took an $18.2 million charge for either closing or merging 6 facilities and cutting 230 jobs in the period. Aether Systems announced that it now has $594 million in cash, and will reduce about $25 million in expenses yearly.

• AFTER CLOSE: Agile Software is losing in after hours trading after reporting fiscal Q2 losses that was 3 cents a share less than First Call estimates, while over the year revenue rose #1 million to $21.2 million.

• AFTER CLOSE: Visionics is losing in after hours trading after reporting fiscal Q4 losses that met Wall Street estimates, while revenue declined $200,000 over the year to $8.2 million.

• AFTER CLOSE: Midway Games lowered its December quarter financial outlook.

• AFTER CLOSE: Ann Taylor Stores reported fiscal Q3 earnings that met First Call estimates, as sales rose 1.6% to $310.8 million, but same store sales declined 11% due to the September 11th. terrorist attacks.

• 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.

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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.

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MARKET SUMMARY FOR TUESDAY NOVEMBER 13TH. 2001

DOW INDUSTRIAL: 9750.95 = +196.58

NASDAQ: 1892.11 = +51.98

S & P 500: 1139.09 = +20.76

MOST ACTIVE STOCKS & SECTORS

The markets closed higher as the Afghan opposition, the Northern Alliance, surrounds the capital Kabul. The NASDAQ, which was up all day had a very very heavy trading volume of over 2.192 billion, while the Dow had a volume of over 1.333 billion shares traded. Gainers included: Abercrombie & Fitch, ADC Telecommunications, Advanced Micro Devices (AMD), AMR Corp, Anadigics, AOL Time Warner, Applied Materials, Applied Micro Circuits, Baker Hughes, Bea Systems, Broadcom, Checkpoint Software, ChevronTexaco, Ciena Corp, Cisco Systems, Citigroup, CMGI, Compaq, Conexant Systems, Conoco, Corning, Corvis Corp, Dell, Delta Air Lines, Disney, Dynegy, eBay, Enron, Ericsson, ExxonMobil, Federated Department Stores, Gateway, Globalstar Telecommunications, Hewlett Packard, Home Depot, i2 Technologies, Inktomi, Intel, Interpublic Group, J.C. Penney, JDS Uniphase, Lucent Technologies, Micron Technology, Microsoft, Motorola, Network Appliance, Nextel Communications, Nokia, Nortel Networks, Occidental Petroleum, Overture Services, Pfizer, PMC-Sierra, Providian Financial, PurchasePro, Qwest Communications International, Rowan Companies, Siebel Systems, Sun Microsystems, Sycamore Networks, Texas Instruments, Tyco International, Tyson Foods, UAL Corp, Veritas Software, Vitesse Semiconductor, Worldcom Group, and Yahoo!

MAIN REASONS FOR ACTIVITY

• The Kansas City Fed Manufacturing Survey improved in October. The Production, Volume of New Orders, and Prices paid for Raw Materials indices all improved.

• The Richmond Fed Manufacturing Survey declined in October, as all indices posted losses. 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.

• Retailers: Home Depot, J.C. Penney, and Wal-Mart all reported strong earnings today, and have an upbeat outlook for the holiday season.

• J.C. Penney gained 6.32% after reporting fiscal Q3 earnings that met Wall Street estimates, and raised fiscal 2001 earnings estimates.

• Home Depot gained 7% after reporting fiscal Q3 earnings that met First Call estimates, and raised its fiscal Q4 and 2001 earnings outlooks. 

• Wal-Mart lost 1.04% despite reporting fiscal Q3 earnings that met Wall Street estimates.

• Oil shares and prices closed higher on the eve of the OPEC meeting.

• 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.

• Oracle lost 5.71% after its CEO Larry Ellison stated at the COMDEX™ yesterday that Oracle will not meet analysts' fiscal Q2 earnings outlook. CS First Boston downgraded Oracle to a "hold".

• Airline stocks rebounded today due to lack of concrete evidence to tie the American Airlines crash to terrorist, at least for now.

• Texas Instruments gained 6.02% after reiterating its forecast that, fiscal Q4 sales will decline only 10%. Semiconductor shares were some of the best performing shares today.

• Cisco Systems gained 1.66% despite comments from its CEO that, it will take the company a couple more quarters to recover than previously thought.

• AFTER CLOSE: Network Appliance is losing in after hours trading after reporting fiscal Q3 earnings and revenues that beat First Call estimates.

• AFTER CLOSE: Bea Systems is losing in after hours trading after reporting fiscal Q3 earning that were 1 cent a share better than First Call estimates, while revenue came in at $219.6 million, which missed First Call estimates.

• AFTER CLOSE: Abercrombie & Fitch is still gaining in after hours trading after reporting fiscal Q3 earnings of 43 cents a share, which met First Call estimates, while revenue declined $9.6 million to $354.5 million.

• AFTER CLOSE: PurchasePro is losing in after hours trading after reporting fiscal Q3 losses that widened, as revenue plummeted from $17.3 million over the year to a mere $3.6 million.

• AFTER CLOSE: Hewlett Packard is losing in after hours trading after announcing that, it will report its earnings on November 14th. (tomorrow), as opposed to the planned November 15th.

• AFTER CLOSE: Globalstar Telecommunications is losing aggressively after reporting fiscal Q3 losses of 33 cents a share. Globalstar announced that it has $68 million in cash, and expects to start next year with at least $45 million in cash.

• AFTER CLOSE: Interpublic Group reported fiscal Q3 earnings of 15 cents a share, which was better than First Call estimates, while revenue came in at $1.6 billion, which was below the $1.7 billion reported last year.

• AFTER CLOSE: Sycamore Networks is losing in after hours trading after reporting fiscal Q3 losses that were 1 cent a share less than First Call estimates, while revenue missed estimates by $2.2 million to $21.2 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.

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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.

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MARKET SUMMARY FOR MONDAY NOVEMBER 12TH. 2001

DOW INDUSTRIAL: 9554.37 = -53.63

NASDAQ: 1840.13 = +11.65

S & P 500: 1118.33 = -1.98

MOST ACTIVE STOCKS & SECTORS

The markets closed mixed as the Dow closed down 53.63 points, gaining back most of its losses after the American Airlines plane crash (see below). The NASDAQ, which started a rally after 10:00 AM, had a heavy trading volume of over 1.595 billion, while the Dow had a volume of over 0.994 billion shares traded. Gainers included: Abercrombie & Fitch, Agere Systems, Akamai Technologies, Applied Materials, Applied Micro Circuits, Barnes & Noble, Bea Systems, Cable & Wireless Plc, Checkpoint Software, Ciena Corp, Cisco Systems, Corning, Covanta Energy, Dell, Dynegy, eBay, EMC Corp, Enron, FTI Consulting, Hewlett Packard, Hunt Corp, Intel, Invision Technology, JDS Uniphase, Juniper Networks, Labor Ready, Microsoft, Motorola, Network Appliance, Newmont Mining, Nokia, Nortel Networks, Nvidia, ONI Systems, Oracle, Osmonics, Palm, Pemstar, Providian Financial, Qualcomm, Redback Networks, Reliant Resources, RF Micro Devices, Siebel Systems, Sonus Networks, Sun Microsystems, Sycamore Networks, Telstra Corp, Texas Instruments, Turkcell, Tyco International, Tyson Foods, WebMD, Williams Energy, WMC Ltd, and Worldcom Group.

MAIN REASONS FOR ACTIVITY

• 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.

• AMR, Parent of American Airlines, lost 9.05% after its flight from New York City's JFK International Airport bound for the Dominican Republic crashed in New York City's Queens Borough. The plane crash took down hotels, online reservations, hotels, leisure aviation related, and entertainment stocks.

• Ciena gained 9.60% after announcing plans to cut 10% of its workforce and take a $1.7 billion charge in Q4. Ciena also announced that it will meet Q4 Wall Street financial estimates. 

• Airports scanner technology company Invision Technology gained 8.52% due to the plane crash, as reasons for the crash remain unknown.

• Oil shares and prices declined after the Russian Federation's planned production will be only a mere 35,000 barrels a day. OPEC meets Wednesday in Vienna to decide on their production cut.

• Dynegy gained 14.32% today after agreeing to acquire troubled Enron for a mere $9 billion in stocks. Enron gained 7.07% on the news.

• Telecommunications equipment maker ONI Systems gained 12.61% after its CEO Hugh Martin stated at the Deutsche Bank Alex Brown technology conference that, ONI Systems will not only survive the economic downturn, but will emerge from it as a leader in the sector.

• The London Stock Exchange (LSE) closed lower due to.............Visit our BusinessJeeves