THE "DAILY BREAD" FOR THE MARKET

Daily Morning Insights on the Market

<---D710--->

MARKET SUMMARY FOR MONDAY JUNE 24TH. 2002

DOW INDUSTRIAL: 9281.82 = +28.03

NASDAQ: 1460.34 = +19.38

S & P 500: 992.57 = +3.43

MOST ACTIVE STOCKS & SECTORS

The markets closed higher today on the eve of the Federal Reserve FOMC 2 day meeting. The NASDAQ, which rallied at 1:00 PM, had a very very heavy trading volume of over 2.048 billion, while the NYSE had a volume of over 1.553 billion shares traded. Gainers included: ADC Telecommunications, AMD, Amgen, AOL Time Warner, Ariba, AT&T, AT&T Wireless, Applied Materials, Banco LatinoAmerica, Bea Systems, Boyd Gaming, Brilliance, Broadcom, Brocade Communications, Catapult Communications, Ciena, Cirrus Logic, Cisco Systems, Collagenex, Comcast, Commerce One, Dell, EMC Corp, Entegris, ESS Technology, eUniverse Networks, Extreme Networks, ExxonMobil, FreeMarkets, GE, Home Depot, Hypercom, IBM, Imclone Systems, Infenion Technology, Intel, JDS Uniphase, Johnson & Johnson, JP Morgan Chase & Co, KLA-Tencor, Merrill Lynch & Co, Microsoft, Netguru, Nextel Communications, Oracle, Oshkosh Truck, Overture Services, Pfizer, Qualcomm, RPC Corp, Seattle Genetics, SCM Microsystems, Siebel Systems, Sonic Solutions, Tellium, Tesoro Petroleum, Texas Instruments, Trex, Tyco International, United Technologies, US Unwired, Valhi, Wal-Mart, Xanser Corp, and XM Satellite Radio.

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.

• GE gained 2.25% after announcing the sell of its eXange business to business e-commerce service to buyout fund, Francisco Partners, for $800 million.

• FreeMarkets gained 17.78% after reiterating its fiscal Q2 financials.

• Martha Stewart Living Omnimedia lost 21.42% after the stockbroker for its founder and and chairman, Martha Stewart, was suspended by Merrill Lynch. Martha Stewart has come under scrutiny because of some insider trading accusations regarding the sell of some Imclone Systems shares.

• AOL Time Warner gained 2.92% after announcing plans to handover the day-to-day running of its 2.1 million customers cable joint venture with Advance/Newhouse Communications to Advance.

• Microsoft gained 3.60% on market speculation that the software giant might announce an upside earnings surprise.

• Microsemi lost 39.91% after warning about its fiscal Q3 financials.

• Worldcom Group lost 25.41% after Salomon Smith Barney downgraded it.

• UAL, the parent of United Airlines, lost 2.09% after applying for the Federal government's $2 billion loan guarantees.

• ESS Technology gained 2.38% after raising its fiscal Q3 financial outlook.

• Lockheed Martin lost 1.22% despite Italy's commitment of $1 billion in the 10 year development of the Joint Strike Force (JSF) fighter aircraft.

• Loudeye Technologies lost 5.14% after announcing the departure of its CFO, and plans to reduce its workforce by 37%, and take a $1.7 million charge.

• Gemstar-TV Guide lost 39.02% after an International Trade Commission administrative law judge ruled on Friday that its on-screen interactive programs patents haven't been infringed upon.

• 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.

• IMC Global lost 4.91% after warning about its fiscal Q2 earnings outlook.

• Boeing lost 0.54% despite announcing that it won an $856 million contract to develop a joint tactical battlefield radio for the US Army.

• AFTER CLOSE: Optical networking company, Tellium, is losing in after hours trading after announcing plans to cut 37% of its workforce, or 200 jobs.

• AFTER CLOSE: Entegris is still gaining in after hours trading after reporting fiscal Q3 pro forma earnings of 4 cents s share, which was better than the breakeven Wall Street was expecting, as revenue came in at $59.7 million. Entegris raised its fiscal Q4 sales outlook.

• AFTER CLOSE: Quantum is still losing in after hours trading after lowering its fiscal Q1 financial outlook.

• AFTER CLOSE: Trex Company raised its fiscal Q2 earnings outlook.

• ENRON Drama: Enron reported Monday June 17th. that it paid $744 million to its 140 top managers as late as November before it filed for bankruptcy on December 2nd. Enron claims it is the standard behavior for companies who are about to file file for bankruptcy so as to avoid top management exit - An overwhelming majority of lawyers stated the procedure is supposed to involve the bankruptcy court, which by the way would have cost less than half what Enron paid out.

• 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: Energy and small cap shares. Check out our Quarterly forecasts for other picks.

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

<---D709--->

MARKET SUMMARY FOR FRIDAY JUNE 21ST. 2002

DOW INDUSTRIAL: 9253.79 = -177.98

NASDAQ: 1440.96 = -23.79

S & P 500: 989.14 = -17.15

MOST ACTIVE STOCKS & SECTORS

The markets closed lower due to the usual suspects: earnings, corporate accounting and terrorism concerns. The NASDAQ, which slumped at 11:00 AM, had a very heavy trading volume of over 1.962 billion, while the NYSE had a volume of over 1.805 billion shares traded. Gainers included: Ask Jeeves, AT&T, Avid Technology, Bio-Technology General, Bone Care International, British American Tobacco Plc, Celanese, Ciena, CTI Molecular Imaging, Dell, Dice inc, El Paso Corp, Everlast Worldwide, Gemstar-TV Guide, Gerber Scientific, Glatfelder, Indus International, Industriforvaltings Kinnevik AB (Kinnevik), Intertape Polymer, InterVoice-Brite, La Jolla Pharmaceuticals, Liberty Media, MapInfo, Marcus Corp, Motorola, Nature's Sunshine Products, Nokia, Nortek, Oregon Steel, Polyone, Rag Shops, Rent-Way, Rogers Communications, RPC inc, Sangamo Biosciences, SBC Communications, Sonic Innovations, Sonus Pharmaceuticals, Southern Union, Spartan Stores, Sports Resorts International, Sprint FON Group, Sturm Ruger & Co, TheStreet.Com, Three Five Systems, UICI Corp, Union Acceptance, US Unwired, Watts Industries, Westaim Corp, and Xerox Corp.

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.

• Qualcomm lost 0.80% despite raising its fiscal Q3 financial outlook.

• RJ Reynolds Tobacco Holdings lost 4.81% after a federal judge ruled in favor of an amputee smoker. The smoker was awarded $200,000 and $15 million in punitive damages. British American Tobacco, the parent of Brown & Williamson, gained after the judge fined its Brown & Williamson unit only $1984 and no punitive damages, since the smoker rarely smoked its products.

• United Technologies lost 4.43% on a Merrill Lynch downgrade. 

• Merck & Co. lost 4.25% after a Wall Street Journal article questioned its accounting practices. Which brings up our question, how many companies that the Wall Street Journal questioned their accounting practices and the journal ended up being correct? We are only curious, since its accusations carry so much weight.

• IBM lost 3.95% after Lehman Brothers cut its earnings target on the company.

• IPO Today: CTI Molecular Imaging closed 14.71% above its offering price.

• Watts Industries gained 9.23% after announcing on Thursday that its CEO will retire the end of the year.

• Nortek gained 7.13% after agreeing to be acquired by New York private equity firm, Kelso & Co, in conjunction with Nortek's CEO Richard L. Bready and top management for $506 million in cash, and assume debt.

• Gemstar-TV Guide gained 1.23% after an International Trade Commission administrative law judge ruled that its on-screen interactive programs patents haven't been infringed upon.

• 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.

• Wireless shares were generally lower after Moody's Investor Services changed its outlook on AT&T Wireless and Nextel Communications. Moody's have become negative on the sector and expects downgrades to likely follow soon.

• InterVoice-Brite gained 45.66% after getting a $4.4 million tax refund.

• Kinnevik gained 20.56% after agreeing to sell 200,000 hectares of forests and a sawmill around Korsnas to Sveaskog.

• Sports Resorts International gained 18.04% after announcing the grand opening of its new Raceway 66 Super Station at Colonel's Brainerd International raceway in Brainerd, Minnesota.

• Sonic Innovations gained 14.37% after First Albany initiated coverage with a "strong buy" recommendation.

• Xerox gained 14.27% after renegotiating its $7 billion revolving line of credit.

• ENRON Drama: Enron reported this Monday that it paid $744 million to its 140 top managers as late as November before it filed for bankruptcy on December 2nd. Enron claims it is the standard behavior for companies who are about to file file for bankruptcy so as to avoid top management exit - An overwhelming majority of lawyers stated the procedure is supposed to involve the bankruptcy court, which by the way would have cost less than half what Enron paid out.

• 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: Energy and small cap shares. Check out our Quarterly forecasts for other picks.

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

<---D708--->

MARKET SUMMARY FOR THURSDAY JUNE 20TH. 2002

DOW INDUSTRIAL: 9431.77 = -129.80

NASDAQ: 1464.75 = -32.08

S & P 500: 1006.29 = -13.70

MOST ACTIVE STOCKS & SECTORS

The markets closed lower due to the usual suspects: earnings and terrorism concerns as Palestinian suicide attacks against Israel continue, with Israel also responding with military actions. The NASDAQ, which slumped at 10:00 AM, had a heavy trading volume of over 1.708 billion, while the NYSE had a volume of over 1.357 billion shares traded. Gainers included: Acuity Brands, Alfa Corp, American Healthcorp, Ark Restaurants, Ashanti Goldfields Co. Ltd, AT&T Wireless, Bed Bath & Beyond, Bionx Implants, Boston Scientific, Buenaventura, California Amplifier, Cal-Maine Foods, CDI Corp, Durban Roodepoort Deep Mines, EOTT Energy, ExxonMobil, Glamis Gold, Gold Fields Ltd, Goldcorp, Harmony Gold Mining, Hershey Foods, Immucor, International Electronics, International Specialty, JDS Uniphase, Malan Realty, Marcus Corp, McCormick & Co, Meridian Gold, Myers Industries, Nature's Sunshine Products, Nokia, Nucentrix Broadband, Online Resources, Oregon Steel, Oyo Geospace, Pfizer, QRS, Randgold & Exploration, Regeneration Technologies, Riverstone Networks, Royal Gold, Simon Property Group, Spectrx, Sports Restorts International, Sprint PCS Group, Stewart Industries, US Airways, U.S.B. Holding Co, Verizon Communications, and William Wrigley Jr.

MAIN REASONS FOR ACTIVITY

• The Conference Board reported that the US Index of Leading Economic Indicators rose a better than expected 0.4% in May. The Coincident Index rose 0.1%, while the Lagging Index declined 0.2%.

• The US Trade Deficit rose to $35.9 billion in April.

• The US Current Account Balance saw a bigger than expected deficit of $112.5 billion in Q1 2002.

• The Philadelphia Fed Survey Index rose to a better than expected 22 in June.

• US Jobless Claims for weekending June 15th. declined 2,000 to 393,000. The 4-week moving average declined 7,250 to 396,250. 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.

• Genzyme General lost 23.85% after warning about its full year earnings.

• Gold shares gained as investors seek safer haven.

• Nokia gained 0.24% despite lowering its second half sales outlook. 

• UAL, the parent of United Airlines, lost 0.48% despite approving an agreement that will cut Pilots' pay by 10% so as to keep the airline afloat.

• Ford Motor Co. and GM lost 4.55% and 4.60% respectively after Morgan Stanley downgraded them to "equal weight" as the brokerage house expects auto sales in 2003 to be flat, if not lower.

• Pfizer gained on news that it will seek an investment bank to advice it on the sell of its Adams Candy and Schick Shaving units. The units, which are valued at around $7 billion, were acquired when Pfizer acquired Warner-Lambert.

• MGM lost 4.15% after the Hollywood studio warned late yesterday that it sees bigger than expected loss in fiscal Q2, due to flops like Windtalkers.

• Solectron, a Contract Electronics manufacturer (CEM), lost 4.46% after announcing that it expects its fiscal Q3 net loss to meet estimates at 35 cents a share. Solectron also announced that it is buying back $1.5 billion worth of its notes for $900 million.

• Bristol Myers Squibb lost 1.41% despite reiterating its fiscal 2002 earnings outlook.

• Disney lost 6.23% after Merrill Lynch cut its fiscal 2002 earnings outlook due to cash flow problems.

• Carnival Cruise Line lost 0.82% after reporting fiscal Q2 net income of 33 cents a share, which beat Wall Street estimates by 3 cents a share, while revenue declined to $989.2 million.

• Goldman Sachs lost 2.35% despite reporting fiscal Q2 earnings of $1.06 a share, 8 cents a share better than First Call estimates, on revenue of $6.23 billion.

• 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.

• Riverstone Networks gained 8.03% despite reporting fiscal Q1 pro forma loss that was 1 cent a share wider than Wall Street expected - Riverstone's rivals had a more hopeless outlook.

• AFTER CLOSE: Amdocs Ltd. is still losing in after hours trading after lowering its earnings outlook for the current quarter and the next. Amdocs also announced the appointment of a new CEO, and plans to cut jobs.

• AFTER CLOSE: Bed Bath & Beyond is still gaining in after hours trading after reporting fiscal Q1 earnings of 15 cents a share, 2 cents a share better than First Call estimates, as revenue rose 35% to $776.8 million. The company also raised its 2002 guidance.

• AFTER CLOSE Cognos is still losing in after hours trading after reporting fiscal Q1 earnings of 11 cents a share, 2 cents a share better than First Call estimates, as revenue rose 11% to $120.1 million.

• AFTER CLOSE: Tektronix is still losing in after hours trading after reporting fiscal Q4 earnings of 13 cents a share, 1 cent a share better than First Call estimates. Tektronix however, lowered its fiscal Q1 2003 sales outlook.

• AFTER CLOSE: American Healthcorp is still gaining in after hours trading after reporting fiscal Q3 earnings of 16 cents a share, 1 cent/share better than First Call estimates. Revenue rose 71% over the year to $31.6 million. The company also raised its full year earnings outlook.

• AFTER CLOSE: Software company Verity is gaining in after hours trading after reporting fiscal Q4 earnings of 9 cents a share, 3 cents a share better than First Call estimates, despite a 37% decline in revenue to $26.1 million.

• AFTER CLOSE: LaBranche & Co. is still losing in after hours trading after warning that its fiscal Q2 earnings might miss as much as 50%.

• AFTER CLOSE: Conexant Systems is losing in after hours trading after Standard & Poor's (S&P) announced that it is dropping it off its venerated S&P 500 Index™. Simon Property Group has been named to replace Conexant.

• ENRON Drama: Enron reported this Monday that it paid $744 million to its 140 top managers as late as November before it filed for bankruptcy on December 2nd. Enron claims it is the standard behavior for companies who are about to file file for bankruptcy so as to avoid top management exit - An overwhelming majority of lawyers stated the procedure is supposed to involve the bankruptcy court, which by the way would have cost less than half what Enron paid out.

• 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.

<---D707--->

MARKET SUMMARY FOR WEDNESDAY JUNE 19TH. 2002

DOW INDUSTRIAL: 9561.57 = -144.55

NASDAQ: 1496.83 = -46.13

S & P 500: 1019.99 = -17.15

MOST ACTIVE STOCKS & SECTORS

The markets closed lower due to the usual suspects: earnings and terrorism concerns. The NASDAQ, which was lower all day, had a heavy trading volume of over 1.725 billion, while the NYSE had a volume of over 1.126 billion shares traded. Gainers included: Aksys Ltd, Alpha Hospital, Atlas Air Worldwide, Bancolombia SA, Brilliance, Burlington Northern Santa Fe, Canadian National Railways, Celadon Group, Correctional Services Corp, CTI Industries, Eden Bioscience, Elmers Restaurants, EOTT Energy, EP Medsystems, Fairchild Corp, FTI Consulting, Gerber Scientific, GTech Holdings, Haggar Corp, Home Depot, HUB International Ltd, Hycor Biomedical, Imclone Systems, Intertrust Technology, Jabil Circuits, Jarden Corp, Lacrosse Footwear, LMI Aerospace, Martha Stewart Living Omnimedia, Micro Therapeutics, Multimedia Games, National Home Health Care, National Technological Systems, Neon Systems, New Brunswick Scientific, Norfolk Southern, ON Command, Pediatrix Medical Group, Perez Companc SA, PrimeEnergy Corp, Province Healthcare, Pulitzer, Siderca SIAC, SRA International, Telekom Austria AG, Tippingpoint, Tyco International, Versatel Telecom International NV, Veridian, Wabash National, Waters Instruments, and Xoma Ltd.

MAIN REASONS FOR ACTIVITY

• The Mortgage Bankers Association (MBA) reported that its MBA Mortgage Applications Survey Index for weekending June 14th. rose 1.9% to 565.5. The Purchase Index rose to 359.3. The Refinance Index rose to 1764.4. The 30-year fixed rate mortgage declined to 6.53%.

• The Energy Information Administration (EIA) reported that for weekending June 14th, US crude oil inventory declined by 500,000 barrels, while Distillates rose by 300,000 barrels. 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.

• Apple Computer lost 15.04% and helped pull technology shares after lowering its revenue outlook by 10%.

• Ciena lost 10.0% and took telecommunications and telecom equipment stocks lower after lowering its revenue outlook. Ciena also announced that its shareholders approved its pending merger with ONI Systems. ONI Systems lost 10.03%.

• Oracle lost 2.0% after investors today focused more on its warning yesterday that current quarter sales will decline by 25%.

• Dutch telecommunications company, Versatel Telecom International NV gained 13.04% after filing for chapter 11 bankruptcy protection and announcing plans to speed up its financial restructuring.

• Xoma Ltd. gained 13.73% after Fulcrum initiated coverage with a "buy" recommendation.

• Brilliance gained 14.34% after announcing the replacement of its China head.

• Micron Technology lost 14.92% and led chip makers lower after the US Justice Department sent a subpoena to DRAM chip makers about possible anticompetitive practices.

• Terrorism was on everyone's mind after the FBI warned about possible attacks on July 4th.

• Intel lost 8.76% despite announcing that it is exiting the web hosting business.

• AMD lost 15.53% today after warning about its fiscal Q2 revenue and earnings late yesterday. Jabil Circuits however, gained 6.27% today after reporting stellar results late yesterday.

• Microsoft, which lost 2.91% today, rejected a federal judge's request to consider more settlement concessions to the 9 Attorney Generals.

• Caledon Group gained 14.93% after stating that its fiscal Q4 earnings will beat Wall Street estimates.

• 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.

• Martha Stewart Living Omnimedia gained 14.24% after the company announced that its fiscal Q2 results will meet Wall Street estimates. Founder and Chairman, Martha Stewart, reiterated her claim that she did nothing wrong in the sale of her Imclone Systems shares.

• Burlington Northern Santa Fe gained 1.92% after Goldman Sachs initiated coverage of it by adding it to its "Recommended List". Goldman Sachs was generally positive on the rail sector today.

• Verizon Communications lost 6.11% despite getting the FCC approval to offer long distance phone service in Maine.

• Newspaper publisher, Pulitzer, gained 6.53% after announcing that its fiscal Q2 results will meet Wall Street estimates.

• AFTER CLOSE: The Federal Reserve evacuated its Washington DC offices after finding some "suspicious items" outside the garbage bin. The White House was also evacuated tonight.

• AFTER CLOSE: Sycamore Networks is still losing in after hours trading after announcing plans to cut 235 jobs and take between $45 million to $55 million charge in fiscal Q4. Sycamore also announced that it will concentrate more on its intelligent optical networking equipment business, and get out of the transportation systems.

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

• AFTER CLOSE: Imclone Systems is losing in after hours trading after announcing that the SEC is about to take action against it about how it handled information dealing with the FDA's rejection of its Cancer drug, Erbitux™.

• ENRON Drama: Enron reported this Monday that it paid $744 million to its 140 top managers as late as November before it filed for bankruptcy on December 2nd. Enron claims it is the standard behavior for companies who are about to file file for bankruptcy so as to avoid top management exit - An overwhelming majority of lawyers stated the procedure is supposed to involve the bankruptcy court, which by the way would have cost less than half what Enron paid out.

• 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.

<---D706--->

MARKET SUMMARY FOR TUESDAY JUNE 18TH. 2002

DOW INDUSTRIAL: 9706.12 = +18.70

NASDAQ: 1542.82 = -10.47

S & P 500: 1037.11 = +0.94

MOST ACTIVE STOCKS & SECTORS

The Dow rallied for the second day in a row, while the NASDAQ closed lower. The NASDAQ, which lost in the last 30 minutes of trading, had a moderate trading volume of over 1.567 billion, while the NYSE had a volume of over 1.188 billion shares traded. Gainers included: Ade Corp, Alpha Hospital, Amazon, Amgen, Anglo American Plc, Anglogold Ltd, AOL Time Warner, Ashanti Goldfields Co. Ltd, Ask Jeeves, AT&T, Atlas Air Worldwide, Barrick Gold, Bear Stearns Companies, Broadcom, Caldera International, Citigroup, Comcast, Comstock Resources, Coventry Health Care, Daisytek International, Dell, Durban Roodepoort Deep Mines, EOTT Energy, FindWhat.Com, GE, Genuity, Gold Fields Ltd, Goldman Sachs, Handleman Company, Harmony Gold Mining, HUB International Ltd, Huffy, Hypercom, Imclone Systems, Inspire Pharmaceuticals, Integra Lifesciences, JDS Uniphase, McMoran Exploration, Merrill Lynch & Co, Micron Tech, Microsoft, Morgan Stanley Dean Witter, Mortons Restaurants, Newmont Mining, Peregrine Systems, Pfizer, Placer Dome, Primedia, QLogic, Qwest Communications International, Randgold & Exploration, Red Hat, RF Micro Devices, Sprint PCS Group, Steel Technologies, Sun Microsystems, Tyco International, and Worldcom Group.

MAIN REASONS FOR ACTIVITY

• Bank of Tokyo-Mitsubishi reported that for weekending June 15th, US Chain Store Sales rose a strong 0.7%, its second straight weekly gain.

• US New Residential Construction Housing Starts rose to 1.73 million units in May.

• US Consumer Price Index (CPI), a good measure .of consumer inflation, was unchanged in May, while the Core CPI, which excludes the volatile energy and food sectors, rose 0.2%. 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.

• The US Dollar rose against major currencies today.

• Best Buy lost 5.94% after warning about its fiscal Q2 earnings outlook.

• Gold stocks rallied after bullion prices rose to $318.95/ounce on terrorism concerns.

• IBM lost 1.56% after Morgan Stanley Dean Witter lowered its fiscal Q2 2002 and second half 2003. revenue and earnings outlook

• Inspire Pharmaceuticals gained 102.70% after the company stated that its dry eyes treatment showed positive results in phase III patients trials.

• Steel Technologies gained 18.18% after raising its fiscal Q3 outlook.

• Broadcom gained 4.28% after Morgan Stanley Dean Witter upgraded it to an "overweight".

• IPO Today: HUB International Ltd, an Insurer, closed 7.14% above its offering price.

• Peregrine Systems gained 3.54% after announcing plans to cut 1,500 jobs, more than 50% of its 2,900 workforce.

• 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.

• Martha Stewart Living Omnimedia lost 4.19% as concerns continue to linger that its Founder and Chairman, Martha Stewart, might have disposed of some Imclone Systems shares based on insider information.

• Oracle closed lower and took some software shares lower with it as the market awaited its earnings after the close of regular trading.

• Lehman Brothers lost 0.27%, but helped push investment shares higher after reporting fiscal Q2 earnings that declined 31% to $1.08/share, which still beat Wall Street estimates by 3 cents a share, while revenue declined to $1.7 billion.

• Amazon gained 2.01% after lowering its free shipping program to orders starting from $50 - it used to be orders starting at $99.

• AFTER CLOSE: Oracle is gaining in after hours trading after reporting fiscal Q4 earnings of 14 cents a share, 2 cents a share better than First Call estimates, as revenue also beat at $2.8 billion.

• AFTER CLOSE: Jabil Circuits is gaining in after hours trading after reporting a fiscal Q3 net income that rose 11%, despite a decline in revenue. Jabil Circuits however, lowered its fiscal Q4 revenue outlook.

• AFTER CLOSE: AMD is still losing in after hours trading after lowering its fiscal Q2 sales outlook.

• AFTER CLOSE: Red Hat is still gaining in after hours trading after reporting a fiscal Q1 loss that narrowed to 3 cents a share, while revenue rose to $19.5 million.

• ENRON Drama: Enron reported this Monday that it paid $744 million to its 140 top managers as late as November before it filed for bankruptcy on December 2nd. Enron claims it is the standard behavior for companies who are about to file file for bankruptcy so as to avoid top management exit - An overwhelming majority of lawyers stated the procedure is supposed to involve the bankruptcy court, which by the way would have cost less than half what Enron paid out.

• 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.

<---D705--->

MARKET SUMMARY FOR MONDAY JUNE 17TH. 2002

DOW INDUSTRIAL: 9687.42 = +213.21

NASDAQ: 1553.29 = +48.55

S & P 500: 1035.81 = +28.54

MOST ACTIVE STOCKS & SECTORS

The markets closed higher on bargain hunting and optimism. The NASDAQ, which rallied all day, had a moderate trading volume of over 1.589 billion, while the NYSE had a volume of over 1.230 billion shares traded. Gainers included: Action Performance, Agere Systems, Airlease Ltd, Akamai Technologies, Amazon, AMD, Amgen, Anadarko Petroleum, AOL Time Warner, Applied Materials, Ariba, AT&T, AT&T Wireless, Aztar Corp, Backyard Burgers, Biovail, Blue Martini, Broadcom, Broadvision, Brocade Communications, Celanese, Charter Communications, ChevronTexaco, Cisco Systems, Citigroup, Comcast, Corel, Cygnus, DaimlerChrysler AG, Dell, Dreyers Grand Ice Cream, eBay, EDS, EMC Corp, eUniverse Networks, ExxonMobil, FindWhat.Com, Gardner Research, Grupo TMM SA, Home Depot, Hypercom, IBM, Inktomi, Intel, International Specialty, JDS Uniphase, JP Morgan Chase & Co, Juniper Networks, Keryx Pharmaceuticals, KLA-Tencor, Lehman Brothers, Lion Biosciences, LoudCloud, Lucent Technologies, McDonalds, Meta Group, Micron Technology, Microsoft, Mississippi Valley Bancshares, Motorola, Net2Phone, Nokia, Oracle, Overture Services, Proxim, Qwest Communications International, Rambus, RealNetworks, Remec, Repsol YPF SA, Siebel Systems, Tesoro Petroleum, Texas Instruments, Three Five Systems, Tyco International, Veritas Software, Versicor, Vitesse Semiconductor, Wal-Mart, Yahoo!, Yum! Brands, and Zimmer Holdings.

MAIN REASONS FOR ACTIVITY

• The National Association of Home Builders (NAHB) reported that, its NAHB Housing Market Index held steady at 60 in June, as expectations held steady, while buyer traffic rose. 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.

• RealNetworks gained 7.42% after a KeyLabs™ independent study showed that consumers prefer RealNetworks' RealVideo™ to Microsoft's Window Media™ by a whopping 16 to 1.

• Corel gained 9.18% after announcing that the Dell SmartStep 1500 Desktop will carry its WordPerfect 10 and Quattro Pro 10 Suites.

• McDonalds gained 2.40% after stating that its fiscal Q2 earnings will top Wall Street estimates.

• Atlas Air lost 41.32% after JP Morgan downgraded it to an "underperform".

• Qwest Communications International gained 20.48% after its CEO, Joseph Nacchio, stepped down.

• Lehman Brothers gained 4.70% and led financial stocks higher on the eve of its earnings report.

• Oil shares gained after Iraqi oil minister warned that delaying to approve the country's oil sales will cause crude prices to rise.

• Proxicom gained 10.09% after announcing that it is paying $65 million to acquire Agere Systems' wireless networking equipment business. Agere Systems gained 2.49%.

• Worldcom lost 9.09% after Standard & Poor's downgraded its debt.

• 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.

• Remec gained 2.33% after reporting fiscal Q1 loss of 11 cents a share, well lower than the 18 cents a share loss Wall Street was expecting, as revenue rose to $59.1 million. Remec also announced plans to cut 125 jobs in fiscal Q2.

• Amgen gained 6.27% after AG Edwards upgraded it to a "buy".

• Dreyers Grand Ice Cream gained 57.26% after Nestlé SA agreed to merge its Ice Cream business with Dreyers' and increase its stake in Dreyers to 67%.

• Biovail gained 6.24% after getting an FDA approval for its hypersensitive treatment, Cardizem XL™.

• LoudCloud gained 22.09% after agreeing to sell its managed services business to EDS, and change its name to Opsware. EDS gained 2.42%.

• Zimmer Holdings gained 6.05% after raising its fiscal Q2 earnings outlook.

• ENRON Drama: Enron reported this Monday that it paid $744 million to its 140 top managers as late as November before it filed for bankruptcy on December 2nd. Enron claims it is the standard behavior for companies who are about to file file for bankruptcy so as to avoid top m