THE "DAILY BREAD" FOR THE MARKET

Daily Morning Insights on the Market

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MARKET SUMMARY FOR MONDAY MARCH 18TH. 2002

DOW INDUSTRIAL: 10576.37 = -30.86

NASDAQ: 1877.06 = +8.76

S & P 500: 1165.55 = -0.59

MOST ACTIVE STOCKS & SECTORS

The markets closed mixed as the Dow lost on the eve of the Federal Reserve FOMC meeting. The NASDAQ, which rallied in the last 2 hours of trading, had a moderate trading volume of over 1.545 billion, while the NYSE had a volume of over 1.157 billion shares traded. Gainers included: AEP Industries, AES Corp, Akamai Technologies, Alamosa Holdings, Amazon.Com, AOL Time Warner, Apache Corp, Applied Materials, Aradigm, Ask Jeeves, Badger Paper, Broadcom, Callon Petroleum, Calpine Corp, Cell Pathways, ChevronTexaco, Clayton Williams Energy, Clean Harbors, CNET Networks, Compaq, Computer Associates, Conceptus, Daniel Green, Dell, Dialog Semiconductor, DoubleClick, eBay, eUniverse Networks, Expedia, ExxonMobil, Flextronics International, Garden Fresh Restaurant, Gateway Computer, Global Payment, Goldcorp, Grand Toys International, Harris & Harris, Hewlett Packard, Hilb Rogal & Hamilton, Hispanic Broadcasting, InfoSpace, Inktomi, Johnson & Johnson, KLA-Tencor, LoudCloud, McAfee.Com, Mechanical Dynamics, Meta Group, Metro International, MSC Software, National Oilwell, Nextel Communications, Nitches, Nokia, Norstan, Northfield Lab, Novamerican, Overture Services, Palm, PayPal, Placer Dome, Priceline.Com, Qualcomm, Qwest Communications International, Sea Containers, Seitel, Sierra Health, Smiths International, Sonus Networks, Symantec, Tyco International, Veritas Software, Vitesse Semiconductor, Wachovia Corp, and Yahoo!

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.

• Oil related shares gained again today too.

• McAfee.Com gained 25.16% after its parent, Network Associates, agreed to acquire it back for $245 million in stock. Network Associates lost 0.95%.

• Major Internet players gained today as the markets await the Feds decision tomorrow.

• Nortel Networks lost 7.91% to close at its lowest levels in 7 years after CS First Boston and JP Morgan joined UBS Warburg in lowering Nortel's 2002 revenue and earnings outlook.

• Qwest Communications International gained 3.80% after amending its $4 billion bank credit agreement that now allows it to have a higher debt-to-cash ratio.

• Microsoft lost 0.56% after the Nine States today sought even tighter controls on the software giant.

• Motorola lost 0.79% despite announcing a multi-million dollar wireless communications gear supply agreement with Japan's KDDI. Motorola also named a new CFO.

• Hilb Rogal & Hamilton gained after acquiring LFC Insuarance Agents & Brokers of Beverly Hills, California on Friday.

• Visit our Up to the minute market charts covering commodities, derivatives, foreign exchange, futures, interest rates, and global stock markets for the closing numbers worldwide.

• Hewlett Packard (H-P) and Compaq gained 1.05% and 0.29% on the eve of the H-P shareholders' vote on the planned H-P/Compaq merger. Separately, Evergreen Investment, the investment arm of Wachovia that owns 2 million shares, or 0.1% of H-P, announced that it will vote NO.

• Insurer Conseco lost 16.05% after Fitch and Moody's Investor Service confirmed they are considering a downgrade of its unsecured senior debt. Separately, Conseco was moving to give itself financial flexibility by announcing plans to exchange $2.54 billion in notes for outstanding unsecured notes.

• Mechanical Dynamics gained 55.62% after MSC Software agreed to acquire it for $120 million. MSC Software gained 5.16%.

• Ask Jeeves gained 11.59% after the US Navy selected its Jeeves Solutions to power its support-anchor desk web portal.

• Tyco International gained 1.02% after declaring quarterly dividend of 1¼ cents.

• Enron Drama: Arthur Andersen is in talks with KPMG to merge their non-US assets.

• ANOTHER ADDITION: We now have services for Australia, Canada, South Africa, UK & Ireland, and United States. We will continue our qualitative, informative, and useful content policies at all our portals. Thank you for your support.

• JOIN THE DISCUSSIONS: Due to the immense popularity this column has received recently, and the willingness of our guests to communicate with each other, we have expanded our message boards so as to serve you better. Please check out (and post on) our NEW expanded message boards here

PICKS FOR THE NEXT MARKET DAY

REASONS BEHIND THE PICKS

STOCKS TO WATCH NEXT MARKET DAY: Internet and technology shares. Check out our Quarterly forecasts for other picks.

Visit our Monthly Stock Picks and Guidance page to read our portfolio picks/recommendations.

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MARKET SUMMARY FOR FRIDAY MARCH 15TH. 2002

DOW INDUSTRIAL: 10607.23 = +90.09

NASDAQ: 1868.30 = +14.16

S & P 500: 1166.14 = +13.10

MOST ACTIVE STOCKS & SECTORS

The markets closed higher on strong economic data. The NASDAQ, which rallied after 10:00 AM, had a relatively heavy trading volume of over 1.699 billion, while the NYSE had a volume of over 1.469 billion shares traded. Gainers included: Adobe Systems, Annapolis Bancorp, AOL Time Warner, Applied Materials, Aramex International, Argonaut Technologies, AT&T, AT&T Wireless, Bea Systems, BP Amoco Plc, Callon Petroleum, Celltech Group Plc, CHC Helicopters Ltd, ChevronTexaco, Citigroup, Comcast, Conoco, Crossroads Systems, Daimler-Benz AG, Davita, Delta Air Lines, Disney, Discovery Partners, Entegris, eUniverse Networks, Expedia, ExxonMobil, FindWhat.Com, First Franklin Corp, Flextronics International, Foster Wheeler, Halliburton, Hastings Entertainment, Home Depot, HomeStore.Com, Hurricane Hydrocarbons Ltd, IBM, Infinite Group, Intel, JDS Uniphase, Joann Stores, Johnson & Johnson, JP Morgan Chase & Co, L90 inc, Lucent Technologies, Mattel, Metro International, Micron Tech, Microsoft, Nextel Communications, Occidental Petroleum, Onesource Information, Oryx Technology, Palm, Pfizer, Pharmacia, Phillips Petroleum, Qualcomm, Quality Dining, Royal Caribbean Cruise Line, Royal Dutch Petroleum, Schering-Plough, Shell Transport & Trading Plc, Siebel Systems, Smartire Systems, Socket Communications, Taser International, Telecom Italia SpA, Texas Instruments, Total Fina Elf, Trans-Industries, Travelocity.Com, Ucar International, US Bancorp, US Physical Therapy, Wal-Mart, and Worldcom Group.

MAIN REASONS FOR ACTIVITY

• The University of Michigan reported that for the month of March, its Consumer Sentiment Survey rose about 5 points to 95.0.

• US Industrial Production rose a stronger than expected 0.4% in February, as Capacity Utilization also rose to 74.8%.

• US Producer Price Index (PPI), a good measure of producer inflation, rose 0.2% in February. The Core PPI, which excludes volatile energy sector, was unchanged 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.

• Oil related shares gained as OPEC decided to hold production steady, and increasing chances of a US strike on Iraq.

• Hurricane Hydrocarbons gained 12.10% on a Business Week article that the company is about to be taken over. Hurricane denied the story.

• Entegris gained 19.54% after raising Q2 outlook.

• Adobe Systems gained 7.08% after reporting fiscal Q1 earnings that beat Wall Street estimates, and raised its Q2 earnings and revenue outlook.

• Wal-Mart gained 2.38% after wining a court injunction banning union organizers from recruiting within their stores.

• Merck & Co. lost 5.82% after stating that it is comfortable with analysts' fiscal Q1 earnings outlook. Merck also stated it is resubmitting its drug, Arcoxia™, to the FDA with new data for consideration. Goldman Sachs however, downgraded Merck to a "market outperformer".

• Oracle lost 6.25% after reporting on Thursday fiscal Q3 earnings that met Wall Street estimates, but revenue missed.

• Visit our Up to the minute market charts covering commodities, derivatives, foreign exchange, futures, interest rates, and global stock markets for the closing numbers worldwide.

• Mattel gained 6.43% after Morgan Stanley Dean Witter upgraded it to a "strong buy".

• Hewlett Packard (H-P) lost 1.80% and Compaq lost 3.46% after New York State Pension Fund and California State Teachers Retirement System stated they will vote NO on the H-P/Compaq merger. The "YES" votes have also gained momentum recently with major support from the likes of: Alliance Capital, ASCII, Banc One Investment Advisors, Barclays Global, Collins & Co,  Domini Social Investments, Federated Investors, Florida State Board of Administration, Fremont Investments, General Motors Investment Management, Intel, ITUG, Interex, L. Roy Papp Associates, Pennsylvania Public School Employees Retirement System, Putnam Investment, State Teachers Retirement System of Ohio, and Wisconsin Investment Board. A big chunk of shareholders haven't made known on how they will vote come Tuesday, but the "NO" vote is currently leading due to the 18% combined votes of the founders' trusts and their children.

• Halliburton gained 3.73% after wining a $3 million contract to design and maintain a gas pipeline in the UAE-Qatar.

• Networking shares were pulled lower after UBS Warburg cut its 2002 earnings estimates on Juniper Networks, Nortel Networks, Sonus Networks, and Tellabs, due to telecommunications companies' cut back in networking equipment purchases.

• Internet advertising company L90 gained 5.41% after removing its CFO on Monday, and the Resignation of its CEO. On Tuesday, the company brought in forensic accountants to look at its books and review its Q2 and Q3 transactions with troubled HomeStore.Com. HomeStore gained 3.70%.

• Enron Drama: The US Justice Department on March 14th. formally charged Andersen Consulting with criminal charges on the way it handled the Enron accounting data. Deloitte & Touche has also made it known that it is not acquiring the Andersen.

• ANOTHER ADDITION: We now have services for Australia, Canada, South Africa, UK & Ireland, and United States. We will continue our qualitative, informative, and useful content policies at all our portals. Thank you for your support.

• JOIN THE DISCUSSIONS: Due to the immense popularity this column has received recently, and the willingness of our guests to communicate with each other, we have expanded our message boards so as to serve you better. Please check out (and post on) our NEW expanded message boards here

PICKS FOR THE NEXT MARKET DAY

REASONS BEHIND THE PICKS

STOCKS TO WATCH NEXT MARKET DAY: Internet and technology shares. Check out our Quarterly forecasts for other picks.

Visit our Monthly Stock Picks and Guidance page to read our portfolio picks/recommendations.

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MARKET SUMMARY FOR THURSDAY MARCH 14TH. 2002

DOW INDUSTRIAL: 10517.14 = +15.29

NASDAQ: 1854.14 = -7.89

S & P 500: 1153.03 = -1.05

MOST ACTIVE STOCKS & SECTORS

The markets closed mixed as the Dow gained. The NASDAQ, which struggled to rally a couple of times for the day but gave up with an hour to close, had a moderate trading volume of over 1.492 billion, while the NYSE had a volume of over 1.196 billion shares traded. Gainers included: Alstom SA, American Express, American Physicians Services Group, Atmel, Cache, Callon Petroleum, Calpine Corp, Chipmos Technology, Cisco Systems, Citigroup, Coles Myers Ltd, Computer Task, Comverse Technology, Dynacq International, Eastman Kodak, Easylink Services, EP Medsystems, ExxonMobil, Flagstar Bancorp, FMC Corp, Franklin Covey, GE, Good Guys, International Paper, JDS Uniphase, Johnson & Johnson, Jones Lang Lasalle, KMG Chemicals, Lendingtree, Midway Games, Mississippi Chemical, Movado Group, Nevada Chemical, New Skies Satellite, Nokia, Oakley Corp, Paradigm Genetic, Penton Media, Polydex Pharmaceuticals, T-3 Energy Services, Technisource, Templeton Russia Fund, Tetra Technology, Transgenomic, Travis Boats & Motors, Vestcom International, and Vivendi Environment SA.

MAIN REASONS FOR ACTIVITY

• US Trade Deficit worsened in Q4 2001 to $98.8 billion. The goods deficit improved, but the services surplus receded sharply.

• US Jobless Claims for weekending March 9th. declined 3,000 to 377,000. The 4-week moving average also declined to 375,000.

• US Business Inventories rose 0.2% in January, but a higher rise in sales pushed the Inventory-to-Sales ration lower to 1.38.

• US Import Prices declined 0.5% in February, while Export Prices were unchanged. 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.

• Oil related shares gained as chances of a US strike on Iraq seems inevitable after yesterday's comments by President George W. Bush.

• American Express gained 0.35% after filing with the SEC for an $8 billion shelf for its credit unit

• Nevada Chemical gained 60.26% and helped the sector to close higher after agreeing to acquire the Sodium Cyanide business of FMC Corp. FMC Corp gained 0.31%.

• Eastman Kodak gained 4.35% after reiterating its first quarter and full year earnings outlook.

• Good Guys gained 16.92% after a successful $5.6million private placement.

• AMR, the parent of American Airlines, lost 2.22% after filing with the SEC for a $2.5 billion shelf.

• Travis Boats & Motors gained 20.80% after accepting a $2.1 million investment for 6% stake in the company from Tracker Marine Group.

• International Paper gained 2.19% after Merrill Lynch stated in research notes that they see a quicker-than-expected recovery for the company.

• Visit our Up to the minute market charts covering commodities, derivatives, foreign exchange, futures, interest rates, and global stock markets for the closing numbers worldwide.

• PC makers were hammered after CS First Boston cut its revenue and earnings outlook for the sector.

• Reebok International lost 1.20% after Merrill Lynch downgraded it to a "neutral".

• Hewlett Packard (H-P) lost today too despite getting more companies in support of the merger. The new "YES" voters are: Banc One Investment Advisors (5.1 million shares of H-P); State Teachers Retirement System of Ohio (3.5 million H-P shares, and 4.3 million shares of Compaq); ASCII also are in the Yes camp.

• Juniper networks lost 11.27% after ABN AMRO downgraded it.

• Catalog retailer Lands End lost 14.08% despite reporting fiscal Q4 earnings that beat Wall Street estimates by 1 cent a share, and revenue rose to $596 million. Lands End however, expects single digit earnings growth in 2003, which will be below Wall Street estimates.

• AFTER CLOSE: Oracle is still losing in after hours trading after reporting fiscal Q3 earnings of 9 cents a share, in line with First Call estimates, while revenue came in at $2.23 billion, which missed.

• AFTER CLOSE: Tetra Technology is losing in after hours trading after lowering its fiscal Q2 outlook.

• AFTER CLOSE: Tektronix is unchanged in after hours trading after reporting fiscal Q3 earnings that beat First Call estimates by 3 cents a share, while revenue missed by $1.8 million to come in at $203.6 million.

• Enron Drama: The US Justice Department on March 14th. formally charged Andersen Consulting with criminal charges on the way it handled the Enron accounting data. Deloitte & Touche has also made it known that it is not acquiring the Andersen.

• ANOTHER ADDITION: We now have services for Australia, Canada, South Africa, UK & Ireland, and United States. We will continue our qualitative, informative, and useful content policies at all our portals. Thank you for your support.

• JOIN THE DISCUSSIONS: Due to the immense popularity this column has received recently, and the willingness of our guests to communicate with each other, we have expanded our message boards so as to serve you better. Please check out (and post on) our NEW expanded message boards here

PICKS FOR THE NEXT MARKET DAY

REASONS BEHIND THE PICKS

STOCKS TO WATCH NEXT MARKET DAY: Internet and technology shares. Check out our Quarterly forecasts for other picks.

Visit our Monthly Stock Picks and Guidance page to read our portfolio picks/recommendations.

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MARKET SUMMARY FOR WEDNESDAY MARCH 13TH. 2002

DOW INDUSTRIAL: 10501.85 = -130.50

NASDAQ: 1862.03 = -35.09

S & P 500: 1154.07 = -11.51

MOST ACTIVE STOCKS & SECTORS

The markets closed lower on weak retail sales data and comments from Fed chairman Alan Greenspan. The NASDAQ, which was down all day, had a moderate trading volume of over 1.664 billion, while the NYSE had a volume of over 1.339 billion shares traded. Gainers included: Adam inc, Albertson's, AOL Time Warner, Authentidate Holdings, Beta Oil & Gas, Callon Petroleum, Cooper Tire & Rubber, Digitale Telekabel AG, Digitalthink, ECB Bancorp, EMC Corp, EOTT Energy, Gardner Denver, Guilford Pharmaceuticals, Headwaters, Healthsouth, ICI Plc, Immucor, James Hardie Industries Ltd, Jones Lang Lasalle, Labor Ready, Lehman Corning, Lendingtree, Lydall, Microchip Technology, Mikohn Gaming, Nanophase Technology, NMT Medical, Novamerican, Palm, Penn Engineering & Manufacturing, Pentair, Pfizer, Pilgrims Pride, Primedia, Quicksilver, Royal Appliance Manufacturing, Schering-Plough, SLI inc, SciClone, Sola International, Sports Authority, Teva Pharmaceuticals, Titan Corp, Titanium Metals, Trans-Industries, USB Holdings, Valence Technology, and Vasco Data Security International.

MAIN REASONS FOR ACTIVITY

• US Retail Sales rose only 0.3% in February. Excluding automobile sales, retail sales rose 0.2%.

• The Mortgage Bankers Association (MBA) reported that its MBA Mortgage Applications Survey for weekending March 8th. declined 16% to 530.0. The Purchase Index declined to 314.6. The Refinance Index declined to 1783.0. The 30-year fixed rate mortgage rose to 7.08%.

• The Energy Information Administration (EIA) reported that for weekending March 8th, US crude oil inventory rose 400,000 barrels, while Distillates declined 2.8 million barrels.

• Fed Chairman Alan Greenspan stated that....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.

• WebMD lost 4.09% today after failing to impress the market with its less than expected fiscal Q4 loss.

• Pentair gained 2.18% after raising its fiscal Q1 outlook.

• Valence Technology gained 10.74% after securing $30 million in financing and on news that Hewlett Packard has included its N-Charge power in its k-12 education bundle.

• Comverse Technology lost 17.10% after reporting fiscal Q4 results that met Wall Street estimates, but warned on fiscal Q1.

• Microchip Technology gained 1.48% today on a strong fiscal Q4 outlook.

• Albertson's gained 0.92% after reporting fiscal Q4 results that beat Wall Street estimates, and raised its 2002 outlook.

• GE lost 2.68% despite the successful sale of $11 billion global bonds by its subsidiary, GE Capital.

• SciClone gained 32.92% after reporting that its Hepatitis B drug, Zadaxin™, was effective in a 12-month follow up trial.

• Visit our Up to the minute market charts covering commodities, derivatives, foreign exchange, futures, interest rates, and global stock markets for the closing numbers worldwide.

• Nanophase Technology gained 12.48% after raising its fiscal Q1 and Q2 outlook.

• Teva Pharmaceuticals gained 1.36% after a Judge ruled that Teva Pharmaceuticals can produce a generic version of GlaxoSmithKline's antibiotic drug, Augmentin™, for the US market.

• Hewlett Packard (H-P) lost 2.19% despite Putnam Securities announced that it will support the H-P/Compaq merger with its 2.5% stake in H-P, and 3.99% stake in Compaq. Barclays Capital is also voting its 3.1% stake for the merger. Bank of America and Wells Fargo & Co will vote against the merger. With 6 days to go, the "NO" are leading with 21% of stake committed to them already.

• Lucent Technologies lost 12.92% after announcing that it raised $1.5 billion by placing 15-year convertible debt securities.

• AFTER CLOSE: Verity is gaining in after hours trading after reporting fiscal Q3 earnings of 6 cents a share, 4 cent a share better than First Call estimates, and revenue also beat estimates at $25 million.

• AFTER CLOSE: Quicksilver is unchanged in after hours trading after reporting fiscal Q1 earnings of 13 cents a share, 4 cents a share better than First Call estimates, as sales rose 20% over the year to $145.8 million.

• AFTER CLOSE: Anadigics is gaining in after hours trading after stating that its Q1 results will beat Wall Street estimates.

• Enron Drama: The now infamous Enron "outside" auditors, Arthur Andersen, announced that it can either file for bankruptcy, or seek a merger partner, as its major corporate customers leave in droves.

• ANOTHER ADDITION: We now have services for Australia, Canada, South Africa, UK & Ireland, and United States. We will continue our qualitative, informative, and useful content policies at all our portals. Thank you for your support.

• JOIN THE DISCUSSIONS: Due to the immense popularity this column has received recently, and the willingness of our guests to communicate with each other, we have expanded our message boards so as to serve you better. Please check out (and post on) our NEW expanded message boards here

PICKS FOR THE NEXT MARKET DAY

REASONS BEHIND THE PICKS

STOCKS TO WATCH NEXT MARKET DAY: Internet and technology shares. Check out our Quarterly forecasts for other picks.

Visit our Monthly Stock Picks and Guidance page to read our portfolio picks/recommendations.

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MARKET SUMMARY FOR TUESDAY MARCH 12TH. 2002

DOW INDUSTRIAL: 10632.35 = +21.11

NASDAQ: 1897.12 = -32.37

S & P 500: 1165.58 = -2.68

MOST ACTIVE STOCKS & SECTORS

The markets closed mixed again as the Dow closed higher and the NASDAQ lost. The NASDAQ, which was down all day, had a heavy trading volume of over 1.750 billion, while the NYSE had a volume of over 1.299 billion shares traded. Gainers included: AAron Rents, ACLN Ltd, Aero Systems Engineering, Airspan Networks, Americredit, Anteon International, August Technology, Big Dog Holdings, Birner Dental, Black & Decker, Brasil Telecom Part. SA, Callon Petroleum, Canaan Energy, CFC International, Channel Commercial, Charles & Colvard Ltd, ChevronTexaco, China Resource Development, Chipmos Technology, Citigroup, Computer Task, Conoco, Crown Andersen, Duane Reade, EMC Corp, E.W. Scripps, ExxonMobil, Fidelity Federal Bancorp, GRIC Communications, IBM, Innovex, Interstate Hotels, Jilin Chemicals, Maytag Corp, Mediabay, Merck & Co, Meritage Corp, Metal Storm Ltd, National Research Corp, Phillips Petroleum, Procter & Gamble, PSI Technologies Holdings, Regus Plc, Rite Aid, Rocky Mountain  Chocolate Factory, Silicon Graphics, Sprint PCS Group, Thomas Nelson, Trans-Industries, Unova, US Industries, Viisage Technology, Vivus Corp, WCI Industries, Whitehall Jewellers, and William Lyon Homes.

MAIN REASONS FOR ACTIVITY

• Richmond Fed Manufacturing Survey improved in February to 23.0. 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.

• Lucent Technologies lost and pulled technology shares lower after warning that its fiscal Q1 revenue will be lower than expected due to telecommunications unwillingness to purchase equipment.

• Nokia closed lower after announcing that though its fiscal Q1 earnings might even top estimates, its sales will not meet.

• Oil stocks and prices gained again as tensions between the US and Iraq continue to mount.

• Conoco and Phillips Petroleum gained 0.95% and 1.63% respectively after their shareholders overwhelmingly approved their $15.6 billion merger. The new company will be called ConocoPhillips.

• Maytag gained 11.38% after announcing that it expects its fiscal Q1 earnings to beat Wall Street estimates.

• E.W. Scripps gained 0.42% after raising its fiscal Q1 outlook.

• Microsoft lost 2.80% after Goldman Sachs lowered its 2003 outlook on the software giant due to slowing PC demand.

• Airspan Networks gained 26.95% after China Communications Systems selected it and its Chinese partner to provide wireless DSL network for 18 sections in the port city of Qingdao.

• Visit our Up to the minute market charts covering commodities, derivatives, foreign exchange, futures, interest rates, and global stock markets for the closing numbers worldwide.

• Worldcom and Qwest Communications International lost 11.99% and 5.39% respectively after confirming late yesterday that the SEC is investigating their accounting practices.

• Interstate Hotels gained 20.51% after Shaner Hotel Group increased its offer for a controlling stake in Interstate to $40 million cash.

• Black & Decker gained 5.48% after cutting its CEO's bonus by 32% for failing to meet financial targets. JP Morgan upgraded the stock to a "buy".

• Nortel Networks lost 5.99% after Moody's Investor Services cut its debt a step away from junk status.

• Canaan Energy gained 31.15% after Chesapeake Energy made a $55 million bid for it. Chesapeake Energy lost 1.0%.

• PSI Technologies gained 21.05% after raising its fiscal Q1 outlook.

• AFTER CLOSE: WebMD is still losing in after hours trading after reporting fiscal Q4 loss of 2 cents a share, 1 cent a share less than First Call estimates, as over the year revenue declined to $176.4 million.

• AFTER CLOSE: Microchip Technology is gaining in after hours trading after stating that its fiscal Q4 earnings will come in around 18 cents a share, 1 cent a share higher than First Call is estimating. Microchip also sees sales beating estimates by $100,000 to $145 million.

• Enron Drama: The now infamous Enron "outside" auditors, Arthur Andersen, announced that it can either file for bankruptcy, or seek a merger partner, as its major corporate customers leave in droves.

• ANOTHER ADDITION: We now have services for Australia, Canada, South Africa, UK & Ireland, and United States. We will continue our qualitative, informative, and useful content policies at all our portals. Thank you for your support.

• JOIN THE DISCUSSIONS: Due to the immense popularity this column has received recently, and the willingness of our guests to communicate with each other, we have expanded our message boards so as to serve you better. Please check out (and post on) our NEW expanded message boards here

PICKS FOR THE NEXT MARKET DAY

REASONS BEHIND THE PICKS

STOCKS TO WATCH NEXT MARKET DAY: Internet and technology shares. Check out our Quarterly forecasts for other picks.

Visit our Monthly Stock Picks and Guidance page to read our portfolio picks/recommendations.

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MARKET SUMMARY FOR MONDAY MARCH 11TH. 2002

DOW INDUSTRIAL: 10611.24 = +38.75

NASDAQ: 1929.49 = -0.18

S & P 500: 1168.26 = +3.95

MOST ACTIVE STOCKS & SECTORS

The markets closed mixed as the Dow closed at its highest level since June of last year. The NASDAQ, which gave up its positive gains in the last hour of trading, had a heavy trading volume of over 1.763 billion, while the NYSE had a volume of over 1.197 billion shares traded. Gainers included: AES Corp, Air Canada, Amazon.Com, America West Holdings, Anthony & Sylvan Pools, AOL Time Warner, AT&T, AT&T Wireless, Bea Systems, Boeing & Co, Calpine, Cepheid, Charles & Colvard Ltd, Ciena Corp, Citigroup, CNET Networks, Concur Technology, Corning, Digital Impact, Docent, EMC, Expedia, ExxonMobil, eUniverse Network, FindWhat.Com, Ford Motor Co, GE, Gottschalks, Hewlett Packard, Hypertension Diagnostics, Ico inc, Illumina, J2 Communications, JDS Uniphase, JP Morgan Chase & Co, Juniper Networks, KCS Energy, Kelly Services, Labor Ready, Lockheed Martin, Loral Space & Communications, Lucent Technologies, Malan Realty, McAfee.Com, Microsoft, Midas, Mortons Restaurant, NetRatings, New Skies Satellite, Nextel Communications, Northrop Grumman, Novadigm, ONI Systems, Oracle, Overture Services, Penton Media, Pfizer, Precis Corp, Priceline, Santa Fe Financial, Siebel Systems, Sola International, Sonus Networks, Sprint PCS Group, Stellent, Stoneridge, Sun Microsystems, Tejon Ranch, Third Wave Technology, Tyco International, Webex, Wells Fargo & Co, WMS Industries, and Yahoo!

MAIN REASONS FOR ACTIVITY

• Kansas City Fed Manufacturing Survey improved slightly in February as Production improved from -37 to -29. Manufacturing eased from January's 6 to 3 - still in the positive.

• US Wholesale Trade improved 1.2% in January, as Inventories declined 0.2%. The Inventories-to-Sales Ratio declined to 1.28. 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.

• Gottschalks gained on acquisition rumors.

• Worldcom lost 1.96% after announcing that the SEC is requesting information relating to its accounting procedures and information on how loans to officers and directors are accounted for.

• Oil prices spiked back up as tensions between the US and Iraq continue to mount.

• Ciena and its acquisition target, ONI Systems, gained 11.0% and 8.55% respectively on market rumors that Cisco Systems might acquire both of them. Cisco Systems lost 2.13%.

• Juniper Networks gained 10.52% on rumors that it will soon announce a deal with Germany's Deutsche Telekom AG.

• Priceline gained 7.86% after Saudi Arabian Billionaire prince Alwaleed bin Talal increased his stake in the company to 5.4%. The Prince also increased his stake in AOL Time Warner and Citigroup. Rumors are that Priceline might be a takeover candidate.

• AOL Time Warner gained 3.14% after signing a deal with Red Hat so as to convert some of its computing systems to Linux's open source and save a bundle. Red Hat closed 0.74% lower, despite the news.

• Yahoo! gained 8.29% after announcing that it is increasing charges for its Geocities hosting service.

• Visit our Up to the minute market charts covering commodities, derivatives, foreign exchange, futures, interest rates, and global stock markets for the closing numbers worldwide.

• Cepheid and Northrop Grumman gained 63.85% and 2.40% respectively after announcing that they are teaming up with Smiths Aerospace of the UK to develop a DNA based bio-threat detection system for the US Postal Service.

• Illumina gained 16.51% after the National Cancer Institute awarded it a $1.2 million grant to develop a phase II bead-based Immunoassay method for protein profiling.

• Wells Fargo & Co, which owns about 0.3% of Hewlett Packard shares, announced that it will vote against the Compaq merger. Wells Fargo and Hewlett Packard gained 0.51% and 1.89% respectively, while Compaq closed lower.

• Avaya lost 4.95% after warning about its fiscal Q2 results, and announced plans to cut 1,900 jobs to save $200 million.

•  Loral Space & Communications gained 7.58% after its Chairman & CEO, Bernard Schwartz, hinted that the company will consider a merger with Lockheed Martin's satellite manufacturing unit. Lockheed Martin gained 1.78% on the news.

• Enron Drama: The now infamous Enron "outside" auditors, Arthur Andersen, announced that it can either file for bankruptcy, or seek a merger partner, as its major corporate customers leave in droves.

• ANOTHER ADDITION: We now have services for Australia, Canada, South Africa, UK & Ireland, and