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.
-
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
UK & Ireland portal to read our summary
and analysis of the London Stock Exchange.
-
Pemstar
gained 1.90% after launching i2 Technologies' Bill
of Material - Request for Quotation (BOM RFQ) software
solutions. i2 Technologies closed 3.10% lower.
-
Disney
gained 0.58% despite reporting fiscal Q4 earnings
that disappointed and warned about fiscal Q1 and
the rest of 2002.
-
Akamai
Technologies gained 10.75% after a Federal Court
ruled on its content delivery technology patent
lawsuit against Digital Island, now a unit of Cable
& Wireless Plc. Cable & Wireless Plc. gained
0.74% on the NYSE as both companies saw a victory
in the ruling.
-
Tyson
Foods gained 0.67% after reporting fiscal Q4 earnings
that rose 160% to 22 cents a share, 2 cents a share
better than First Call estimates, thanks to its
acquisition of IBP. Revenue rose 175% to $5.09 billion.
In a separate incident, a Federal Judge awarded
$3 million to IBP employees who were not paid for
the time they used in putting on protective gear
before entering IBP processing factories, and when
they cleaned up the plants after work.
-
AFTER
CLOSE: Juniper Networks announced that it is paying
about $200 million in stock to acquire privately
held cable modem maker, Pacific Broadband.
-
AFTER
CLOSE: WebMD is unchanged in after hours trading
after reporting fiscal Q3 losses that were in line
with First Call estimates. Over the year revenue
rose, but missed First Call estimates by $6.7 million
to $167 million.
-
AFTER
CLOSE: Software company Divine is gaining in after
hours trading after reporting fiscal Q3 losses of
54 cents a share, well better than the $1.13 a share
loss reported last year. Divine reported revenue
that rose from $13.7 million last year to a whopping
$48.1 million. Divine also announced that it has
$175.8 million in cash as of September 30th.
-
AFTER
CLOSE: Pacific Swimwear is still losing in after
hours trading after reporting fiscal Q3 earnings
that beat First Call estimates by 1 cent a
share, while revenue rose 12% over the year to $183
million.
-
NEW SERVICE: Now that we have our United Kingdom
and Ireland portal BusinessJeeves
UK & Ireland, and our Canadian (English)
portal BusinessJeeves Canada is up and running.
We are confident, the quality of our content will
keep you coming back.
-
JOIN
THE DISCUSSIONS: Due to the immense popularity this
column has received recently, and the willingness
of our guests to communicate with each other, we
have expanded our message boards so as to serve
you better. Please check out (and post on) our NEW
expanded message boards here
PICKS
FOR THE NEXT MARKET DAY
REASONS
BEHIND THE PICKS
- The
after hours market looks good enough. 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.
<---D564--->
MARKET
SUMMARY FOR FRIDAY NOVEMBER 9TH. 2001
DOW
INDUSTRIAL: 9608.00 = +20.48
NASDAQ:
1828.48 = +0.71
S
& P 500: 1120.31 = +1.77
MOST
ACTIVE STOCKS & SECTORS
The
markets closed higher as the Dow gained to the levels
of September 10th, as news that Afghanistan opposing
group, the Northern Alliance, capture a major Northern
city. The NASDAQ, which was see saw all day, had a heavy
trading volume of over 1.523 billion, while the Dow
had a volume of over 1.099 billion shares traded. Gainers
included: AB Watley Group, Agco, Amazon.Com, AOL Time
Warner, Applied Films, Applied Materials, Ask Jeeves,
ATP Oil & Gas, Baker Hughes, Bea Systems, Broadcom,
Brocade Communications, Caremark RX, Cendant, Ciena
Corp, Cisco Systems, CNet Networks, Critical Path, Disney,
Dynegy, eBay, EMC Corp, Enron, Ericsson, eUniverse Network,
ExxonMobil, GE, Genentech, Global Marine, Hewlett Packard,
i2 Technologies, Inktomi, Intel, JDS Uniphase, Juniper
Networks, Level 3 Communications, Lucent Technologies,
Madeco SA, Microsoft, M-Systems, Nextel Communications,
Noble Drilling, Nortel Networks, Nvidia, Orbital Sciences,
Osmonics, Palm, Parker Drilling, Premdor, Qlogic, Qualcomm,
RCN Corp, Regus Plc, RTW, Safeguard Scientifics, Sicor
inc, Siebel Systems, Sun Microsystems, Texas Instruments,
TTI Team Telecom, Tyco International, Value City Department
Stores, Veritas Software, Worldcom Group, XTO Energy,
and Yahoo!.
MAIN
REASONS FOR ACTIVITY
-
US
Producer Price Index (PPI), a good measure of producer
inflation, declined 1.6% in October, its largest
decline in decades, due to low energy prices. The
Core PPI, which excludes the volatile Energy and
food sections, declined 0.5%.
-
The
University of Michigan's Consumer Sentiment Survey
rose from 82.7 in October to 83.5 in November. Expectations
Index rose to 76.2, while Present Conditions Index
rose 94.9. 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
gained 16.74% after announcing the resignation of
its CEO Carl Yankowski late yesterday. UBS Warburg
reiterated its "strong buy" recommendation.
-
Adelphia
Communications closed lower after the cable operator
reported fiscal Q3 losses, and stated that it raised
about $1 billion in the period. Adelphia Communications
also announced that it will spinoff its majority
owned telephone company to shareholders.
-
IPO
Today: Applied Films closed 15.10% above its offering
price.
-
Nvidia
gained 6.93% today after reporting strong quarterly
earnings and raising its outlook up to year 2003.
-
Applied
Materials gained 0.44% after adding 6 more shutdown
days during the holiday season.
-
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.
-
Hewlett
Packard gained 3.49% on news that Walter Hewlett
has hired consultants to lead the public relations
fight against the Compaq deal.
-
Disney
gained 0.58% despite reporting fiscal Q4 earnings
that disappointed and warned about fiscal Q1 and
the rest of 2002.
-
Motorola
lost 1.49% after Morgan Stanley Dean Witter downgraded
it to a "neutral".
-
Enron
gained 2.62% on news that a $7 billion offer for
the company from Dynegy is very close. Also today,
Moody's™ downgraded Enron's debts, and ready to
cut more if need be. Dynegy closed 6.19% lower.
-
Genentech
gained 6.66% today after announcing late yesterday
that it is buying back about $625 million of its
stocks in 12 months.
-
Crude
oil prices gained $1.05 to close at $22.22/barrel
after the Russian Federation announced today that
it will join OPEC in cutting production so as to
prop up prices.
-
H.J.
Heinz lost 6.56% after lowering its outlook for
fiscal Q2 and the full year.
-
Level
3 Communications gained 9.96% after signing a fiber
optic network deal with AT&T Wireless on Thursday.
-
RTW
gained 94.57% after American Physicians Capital
agreed to acquire it for $32 million.
-
NEW SERVICE: Now that we have our United Kingdom
and Ireland portal BusinessJeeves
UK & Ireland, and our Canadian (English)
portal BusinessJeeves Canada is up and running.
We are confident, the quality of our content will
keep you coming back.
-
JOIN
THE DISCUSSIONS: Due to the immense popularity this
column has received recently, and the willingness
of our guests to communicate with each other, we
have expanded our message boards so as to serve
you better. Please check out (and post on) our NEW
expanded message boards here
PICKS
FOR THE NEXT MARKET DAY
REASONS
BEHIND THE PICKS
- The
markets next week will be influenced mostly by earnings
reports and economic data.
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.
<---D563--->
MARKET
SUMMARY FOR THURSDAY NOVEMBER 8TH. 2001
DOW
INDUSTRIAL: 9587.52 = +33.15
NASDAQ:
1827.77 = -9.76
S
& P 500: 1118.54 = +2.74
MOST
ACTIVE STOCKS & SECTORS
The
markets closed mixed as the Dow gained, while the NASDAQ
closed slightly lower after the Bank of England and
the European Central Bank surprised everyone with major
interest rate cuts (see below). The NASDAQ, which gave
back all of its gains in the last 2 hours, had a very
very heavy trading volume of over 2.301 billion, while
the Dow had a volume of over 1.479 billion shares traded.
Gainers included: Aerogen, Airtran Holdings, Alaska
Air Group, American Tower Corp, AOL Time Warner, Ask
Jeeves, AT&T, Avista Corp, Bea Systems, British
Airways Plc, Broadcom, Celanese, Chesapeake Energy,
ChevronTexaco, Chordiant Software, Cisco Systems, Citigroup,
Cray inc, Delta Airlines, Disney, Dynegy, Ericsson,
ExxonMobil, Fair Isaac & Co, Forward Air Corp, GE,
Grupo Industrial Maseca SA, i2 Technologies, InfoSpace,
Inktomi, Intel, Internet Commerce, Iona Technology,
KCS Energy, KLM Royal Dutch Airlines, Lands End, Level
3 Communications, Liberty Media, Marimba, Mattson Technology,
Meristar Hospital, Mesa Air Group, Micron Tech, Microsoft,
Motorola, Nokia, Northwest Airlines, Novel Denim Holdings
Ltd, Oracle, OTG Software, Pediatrix Medical Group,
PLX Technology, PMC Sierra, Qualcomm, Quicksilver Resources,
Restoration, Saba Software, Safeguard Scientifics, Siebel
Systems, Sun Microsystems, Texas Instruments, TiVo,
Tyco International, University of Phoenix Online, Value
City Department Stores, Vimpelcom, Visual Networks,
Vitesse Semiconductor, Wal-Mart, Western Digital, and
Worldcom Group.
MAIN
REASONS FOR ACTIVITY
-
US
Chain Store Sales grew a strong 2.3% in October.
Drug Stores, Discount Stores, and Wholesale Clubs
accounted for the growth.
-
US
Initial Jobless Claims declined 46,000 to 450,000
for the week ending November 3rd. The 4 week moving
average declined 9,000 to 487,000.
-
US
Import Prices declined 2.4% in October. Imported
Capital Goods prices rose 0.1%, while Imported Consumer
Goods (excluding vehicles) Prices declined 0.1%.
US Export Prices declined 0.7% in October. Agricultural
Commodities and Capital Goods Export Prices declined
1.7% and 0.4% respectively, while Export Consumer
Goods (excluding vehicles) Prices saw no growth
for the period. Visit our Federal
Reserve Monetary Policy Analysis page to read
more. Also, visit our expanded message boards to
discuss this topic or any other business topic by
clicking here.
-
Microsoft
gained 0.26% after announcing that its just released
Windows XP™ is flying off store shelves.
-
Enron
lost another 7.07% today after announcing that it
will restate its profits from the last 4 years and
the first 2 quarters of this year, to lower levels.
Besides announcing that 2 officers with the company
have been fired, Enron confirmed that it is in talks
with Dynegy for a possible takeover of the company.
Dynegy gained 10.61% on the news, and ChevronTexaco,
which owns 27% of Dynegy, gained 0.36%.
-
Safeguard
Scientifics gained 9.39% after reporting its fiscal
Q3 earnings today.
-
Value
City Department Stores gained 12.07% after reporting
that October sales rose 7.4% over the year to $182.7
million. McDonald Investments upgraded the stock
to a "hold".
-
European
Airline shares gained as optimism continue to rise
that, the folding of Belgium's Sabena Airlines will
increase the consolidation pace and reduce excess
capacity in Europe. US airlines didn't do bad either.
-
The
London Stock Exchange (LSE) to close higher after
the Bank of England (BoE) and the European Central
Bank (ECB) cut their Repo Rates by.............Visit
our BusinessJeeves
UK & Ireland portal to read our summary
and analysis of the London Stock Exchange.
-
Pediatrix
Medical Group gained 8.99% after settling 2 billing
investigations with the state of Nevada.
-
Wal-Mart
gained 1.26% after reporting that its October sales
rose 14.6% over the year to $16.616 billion!
-
KCS
Energy gained 9.22% after reporting fiscal Q3 earnings
of 31 cents a share, while revenue rose $54.02 million
over the year to $183.07 million.
-
Lands
End gained 1.78% after Barrington Research upgraded
it to a "strong buy".
-
University
of Phoenix Online gained 3.76% after Pacific Growth
Equities upgraded it to a "strong buy".
-
AFTER
CLOSE: Immunogen reported fiscal Q4 loss of 4 cents
a share, 1 cent a share less than First Call estimates,
while revenue declined by almost half over the year
to $1.4 million.
-
AFTER
CLOSE: Palm is gaining in after hours trading after
announcing the resignation of its CEO, Carl Yankowski.
Palm's Chairman, Eric Benhamou will be acting CEO
until a replacement is found.
-
AFTER
CLOSE: Genentech is still losing in after hours
trading after its Board approved a $625 million
stock buyback plan to cover the next 12 months.
-
AFTER
CLOSE: Nvidia is gaining in after hours trading
after reporting fiscal Q3 earnings that were 5 cents
a share better than First Call estimated, as revenue
not only beat estimates, but almost doubled to $370.2
million.
-
AFTER
CLOSE: Disney is losing in after hours trading after
reporting fiscal Q1 earnings that missed First Call
estimates by 1 cent a share, and warned about fiscal
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 too directionless to make
a call. We however, still expect economic data tomorrow
to influence how the markets close this week, if
all else is held constant.
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.
<---D562--->
MARKET
SUMMARY FOR WEDNESDAY NOVEMBER 7TH. 2001
DOW
INDUSTRIAL: 9554.37 = -36.75
NASDAQ:
1837.53 = +2.45
S
& P 500: 1115.71 = -3.15
MOST
ACTIVE STOCKS & SECTORS
The
markets closed mixed as the Dow lost, while the NASDAQ
gained due to good productivity data. The NASDAQ, which
gave back almost all of its gains in the last 2 hours,
had a very very heavy trading volume of over 2.066 billion,
while the Dow had a volume of over 1.423 billion shares
traded. Gainers included: Akamai Technologies, Allied
Waste Industries, Amazon.Com, American Express, Americredit,
Applied Materials, Aquila Corp, Ariba, Ask Jeeves, Bea
Systems, Brio Software, British Airways Plc, Brocade
Communications, Burhmann NV, Charles Schwab, Chesapeake
Energy, Ciena Corp, Cisco Systems, Citigroup, Clear
Channel, CMGI, CNet Networks, Conseco, Corning Corp,
CP Ships Ltd, Critical Path, Dell, DigitalThink, EarthLink,
eBay, Energis Plc, E*Trade Group, eUniverse, Genencor
International, Hot Topic, i2 Technologies, Inktomi,
Intel, JDS Uniphase, JP Morgan Chase & Co, Juniper
Networks, Lamson & Session, Liberty Media, Manugistics
Group, Napro Biotherapeutics, Nextel Communications,
Nortel Networks, Oakley Corp, Oracle, Pixar Animation,
Procter & Gamble, Providian Financial, Pyre Group
Ltd, Qlogic, Qualcomm, Raindance Communications, Rogers
Wireless, Serena Software, Siebel Systems, SilverStream
Software, Sipex Corp, Sun Microsystems, Symbol Technologies,
Texas Instruments, TiVo, Tyco International, Vignette,
Vixel Corp, Waste Management, WebMethods, Webex, Worldcom
Group, XO Communications, and Yahoo!
MAIN
REASONS FOR ACTIVITY
-
The
Mortgage Bankers Association (MBA) reported that
for week ending November 2nd, its MBA Mortgage Applications
Survey Index rose 23% to 1037.9. The Purchase Index
rose 19.7% to 318.4. The Refinance Index rose 24.3%
to 5223.2.
-
US
Productivity grew a strong 2.7% in Q3 2001, due
primarily to declines in hours worked, which 3.6%.
Output declined 1%. Real Compensation per Hour rose
3.8%, its highest increase this year, while the
Implicit Price Deflator rose at the same levels
as Q2, 1.5% to 116.6.
-
The
Energy Information Agency (EIA) and the American
Petroleum Institute (API) reported that for week
ending November 2nd, US crude inventory rose 3.6
million barrels and 3.68 million barrels respectively,
while Distillates increased 300,000 barrels and
1.54 million barrels respectively.
-
US
Consumer Credit grew only an annualized rate of
2.5% in September, or $3.2 billion from August levels
to a total Credit in September of $1.597 trillion.
US Consumer Credit has been declining steadily due
to economic uncertainty.
-
US
Wholesale Sales declined 1.3% in September, while
inventories declined 0.1%. The Inventory-to-Sales
Ratio rose to 1.32. 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 gained 0.14% after the Justice Department
approved its $4.95 billion acquisition of Clairol
hair care business from Bristol Myers Squibb. Bristol
Myers Squibb closed lower.
-
Waste
Management gained 6.43% after reporting fiscal Q3
earnings of 5 cents a share, and also agreed to
settle a class action lawsuit for $457 million.
-
Interest
sensitive stocks like credit issuers gained.
-
Hewlett
Packard (H-P) closed 3.18% lower as the Hewlett
and Packard families openly oppose the H-P/Compaq
deal. Compaq lost 6%.
-
Enron
lost 6.41% after the Wall Street Journal reported
that power generator and trader Dynegy is in discussions
to infuse $2 billion in the venture, or buy it outright.
Dynegy lost 8.33% for thinking about acquiring debt
laden Enron . El Paso Energy lost 3.53% after its
Chairman & CEO hinted it might be interested
in parts of Enron. Reliant Energy lost 0.53% even
after denying it wasn't infusing cash into Enron.
AG Edwards downgraded Enron to a "sell".
-
Qualcomm
gained 0.69% today despite reporting poor results
and forecast yesterday. Ironically, rivals like
Ericsson and Nokia closed lower due to Qualcomm's
figures.
-
British
Airways Plc. and Energis Plc. not only gained in
US markets, but helped the the London Stock Exchange
(LSE) to close higher due to.............Visit our
BusinessJeeves
UK & Ireland portal to read our summary
and analysis of the London Stock Exchange.
-
Lands
End gained 17.94% after reporting fiscal Q3 earnings
of 41 cents a share, a whopping 23 cents a share
above First Call estimates, and revenue rose 4%
to $376.1 million. Lands End attributed the stellar
performance to its cost cutting and increased sales
in full priced merchandize.
-
Software
shares gained on increased optimism from analysts
that the sector might be turning the corner.
-
Lucent
Technologies lost 4.88% after announcing that although
it is selling some of its units, its new products
will take it back to profitability next year as
planned.
-
ExxonMobil
lost 0.41% despite a US Appeals Court ruled that
the 1994 $5 billion punitive damages fined to Exxon
for the Exxon Valdez disaster was too excessive,
since it covered a whole year's revenue of the company.
A judge has been ordered to determine a lesser award.
-
TiVo
gained 16.96% after AT&T agreed to offer TiVo's
video recorders to its cable customers.
-
Genencor
International gained 17.99% after signing a 5-year
$600 million Enzymes supply contract with Procter
& Gamble.
-
AFTER
CLOSE: Pixar Animation is still gaining in after
hours trading after reporting fiscal Q3 earnings
that beat First Call estimates by 2 cents a share,
while sales declined $6 million over the year to
$11.3 million. Pixar raised its outlook for 2001
due to the strong performance of its Monsters, inc.™
movie.
-
AFTER
CLOSE: DSL.net is gaining aggressively in after
hours trading after reporting fiscal Q3 loss that
was lower than a year ago, while revenue rose 103%
to $11.7 million. DSL.net raised its fiscal Q4 outlook
and stated that, it has cash to last it till Q3
2002.
-
AFTER
CLOSE: Clear Channel reported fiscal Q3 net loss
that was 4 cents a share wider than First Call estimates,
but revenue rose 46% to $2.3 billion.
-
AFTER
CLOSE: Critical Path is losing in after hours trading
after reporting fiscal Q3 losses of 36 cents a share,
9 cents a share wider than First Call estimated,
as revenue declined from $35.3 million reported
last year to $26.8 million.
-
AFTER
CLOSE: Allied Waste Industries is still gaining
in after hours trading after reporting fiscal Q3
earnings that missed First Call estimates by 1 cent
a share, while revenue met First Call estimates
at $1.41 billion.
-
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keep you coming back.
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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 strong enough. We however,
expect economic data tomorrow to influence how the
markets close, if all else is held constant.
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.
<---D561--->
MARKET
SUMMARY FOR TUESDAY NOVEMBER 6TH. 2001
DOW
INDUSTRIAL: 9591.12 = +150.09
NASDAQ:
1835.08 = +41.43
S
& P 500: 1118.86 = +16.02
MOST
ACTIVE STOCKS & SECTORS
The
markets closed higher after the Federal Reserve FOMC
action. The NASDAQ, which zoomed upward after the announcement,
had a very heavy trading volume of over 1.947 billion,
while the Dow had a volume of over 1.328 billion shares
traded. Gainers included: Airtran Holdings, AOL Time
Warner, Applied Materials, Ariba, AT&T, Bea Systems,
BMC Industries, Bristol Myers Squibb, Broadcom, Brocade
Communications, Cisco Systems, Citigroup, Commerce One,
Conseco, Corning Corp, Dell, EMC Corp, Enterasys Networks,
Ericsson, Extreme Networks, ExxonMobil, Foundry Networks,
GE, Hewlett Packard, i2 Technologies, IBM, Intel, JP
Morgan Chase & Co, Labor Ready, Lucent Technologies,
Mandalay Bay Resort & Casino, Maxim Integrated Products,
Metris Companies, Microsoft, Nextel Communications,
Nokia, Nortel Networks, Optical Communication Products,
Oracle, Orbital Sciences, PMC-Sierra, Providian Financial,
Qualcomm, Register.Com, Safeguard Scientifics, SAP AG,
Siebel Systems, Spirent Plc, Sun Microsystems, Texas
Instruments, Time Warner Telecom, TMP Worldwide, Tomkins
Plc, TRW, Veritas Software, Worldcom Group, XO Communications,
and Yahoo!
MAIN
REASONS FOR ACTIVITY
-
The
Federal Reserve FOMC today cut interest rates by......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.
-
B2B
software shares gained after Microsoft announced
plans to introduce a new software that will bring
suppliers online.
-
Troubled
energy group Enron declined another 13.43% to close
at $9.67/share, the first time in over a decade
to close below below $10/share. The Wall Street
Journal reported that the company is looking for
about $2 billion in private capital infusion in
exchange for a part of the company.
-
Time
Warner Telecom gained 14.88% after reporting fiscal
Q3 net losses that widened, but revenue grew 43%
to $172.7 million.
-
Disney
lost 2.14% after Goldman Sachs cut its ratings on
the media giant due to fears that Disney will have
some fiscal 2002 losses.
-
Microsoft
gained 2.39% after half of the 18 State Attorney
Generals signed on to the US Department of Justice
settlement proposal. California is one of the major
holdouts.
-
TMP
Worldwide, the parent of Monster.Com online jobs
portal, gained 3.06% today after reporting stellar
earnings yesterday.
-
Tomkins
Plc. and Spirent Plc. not only gained in US markets,
but helped the the London Stock Exchange (LSE) to
close higher due to.............Visit our BusinessJeeves
UK & Ireland portal to read our summary
and analysis of the London Stock Exchange.
-
Newport
News Shipbuilding lost 2.13% after receiving a revised
offer from Northrop Grumman worth $67.50/share in
cash and equities. Northrop Grumman, which lost
1.10% to close at $98.52/share, has seen its shares
rise significantly in recent weeks.
-
Europe's
largest software company, SAP AG, gained 5.82% today
after joining other major software players by announcing
today that it will start delivery its business software
as web services.
-
Cisco
Systems gained 3.18% after ABN AMRO and Lehman Brothers
raised their ratings on the stock. ABN AMRO, CS
First Boston, Lehman Brothers, SG Cowen, and UBS
Warburg raised their earnings and price targets
on the stock due to its spectacular earnings report
yesterday.
-
Domain
registration services firm Register.Com gained 2.12%
after reporting fiscal Q3 earnings of 4 cents a
share, while revenue rose 20% to $29.5 million.
Register.Com's board also approved a $10 million
stock buyback plan over the next 18 months.
-
Hewlett
Packard gained 17.29% after the Hewlett family which
owns about 5% of the company, made known that they
do not like the Compaq acquisition deal. The Packard
family haven't made a statement. Troubled Compaq,
which was counting on the deal to survive, lost
5.49%.
-
Lucent
Technologies gained 2.79% after announcing that
it intends to sell parts of its network services
for large corporate clients unit.
-
AFTER
CLOSE: Qualcomm is losing in after hours trading
after reporting fiscal Q4 earnings that missed First
Call estimates, and warned about fiscal Q1 too.
-
AFTER
CLOSE: Optical Communication Products is losing
in after hours trading after reporting fiscal Q4
loss of 4 cents a share, well off the 2 cents a
share earnings First Call was estimating. Revenue
declined 54.7% over the year to $14.9 million.
-
AFTER
CLOSE: Maxim Integrated Products is still gaining
in after hours trading after reporting fiscal Q1
earnings of 17 cents a share, 1 cent a share better
than First Call estimates, while revenue declined
by almost half to $239.4 million, which still beat
First Call estimates.
-
NEW SERVICE: Now that we have our United Kingdom
and Ireland portal BusinessJeeves
UK & Ireland, and our Canadian (English)
portal BusinessJeeves Canada is up and running.
We are confident, the quality of our content will
keep you coming back.
-
JOIN
THE DISCUSSIONS: Due to the immense popularity this
column has received recently, and the willingness
of our guests to communicate with each other, we
have expanded our message boards so as to serve
you better. Please check out (and post on) our NEW
expanded message boards here
PICKS
FOR THE NEXT MARKET DAY
REASONS
BEHIND THE PICKS
- The
Federal Reserve FOMC actions today should influence
the markets further tomorrow, despite the earnings
warning from Qualcomm in after hours.
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.
Click
here for "Daily Bread" ARCHIVES
|