THE
"DAILY BREAD" FOR THE MARKET
Daily
Morning Insights on the Market
<---D570--->
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.
-
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 quite strong.
- The
war in Afghanistan seem to be almost over, Thanksgiving,
the start of Christmas holiday shopping is this
coming week, and energy prices are low - This week
should be a very good one, if economic data, news,
and other surprises don't ruin 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.
<---D569--->
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.
-
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
war in Afghanistan seem to be almost over, Thanksgiving,
the start of Christmas holiday shopping is this
coming week, and energy prices are low - Next week
should be a very good one, if economic data, news,
and other surprises don't ruin 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.
<---D568--->
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.
-
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 okay. Then again, economic
data, news, etc. can change everything 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.
<---D567--->
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.
-
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 okay. Then again, economic
data, news, etc. can change everything 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.
<---D566--->
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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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 okay. Then again, economic
data, news, etc. can change everything 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.
<---D565--->
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
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