THE "DAILY BREAD" FOR THE MARKET

Daily Morning Insights on the Market

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MARKET SUMMARY FOR TUESDAY AUGUST 6TH. 2002

DOW INDUSTRIAL: 8274.09 = +230.46

NASDAQ: 1259.55 = +53.54

S & P 500: 859.57 = +24.97

MOST ACTIVE STOCKS & SECTORS

The markets rallied on interest rate cuts hope. The NASDAQ, which was up all day, had a moderate trading volume of over 1.547 billion, while the NYSE also had a moderate trading volume of over 1.504 billion shares. Gainers included: Akamai Technologies, Amazon.Com, Amgen, Applied Materials, Ask Jeeves, AT&T, AT&T Wireless, Ballard Power Systems, Bea Systems, Brocade Communications, Capital One Financial, Cardinal Health, Charter Communications, Cisco Systems, Citigroup, CNET Networks, Comcast, Cooper Industries, Dell, Disney, Dynegy, EarthLink, eBay, eUniverse Networks, ExxonMobil, FleetBoston Financial, Flextronics International, Ford Motor Co, GE, Hispanic Broadcasting, Home Depot, Inktomi, Intel, Interdata, Interlinq, Jetblue Airways, JP Morgan Chase & Co, Juniper Networks, KLA-Tencor, MarketWatch.Com, Mercury Computer Systems, Microsoft, Motorola, Network Appliance, Noble Learning, Nokia, Nvidia, Omnicom Group, Oracle, Overture Services, Palm, Pfizer, Philip Morris, QLogic, Qualcomm, Sprint PCS Group, Sun Microsystems, Sykes Enterprises, Tesoro Petroleum, Texas Instruments, TMP Worldwide, Tyco International, ValueClick, Veritas Software, Wal-Mart, WebMD, Williams Companies, Yahoo!, and Zarlink Semiconductor.

MAIN REASONS FOR ACTIVITY

• The Bank of Tokyo-Mitsubishi reported that for weekending August 3rd, US Chain Store Sales rose only 0.1%. 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.

• ValueClick gained 4.66% after reporting a strong fiscal Q2 results, and expects to turn a profit in 2002. ValueClick also announced plans to buyback $50 million of its common stock.

• AOL Time Warner lost 0.50% despite announcing the appointment of Jon Miller, a former executive with USA Interactive, to head its troubled America Online division.

• Charter Communications gained 12.50% after reporting strong fiscal Q2 results today.

• A rally in Fed Futures prompted optimism about a likely Fed easing when they meet next Tuesday. The US Dollar also rallied against major European currencies due to the optimism.

• Mercury Computer Systems gained 30.40% today after CIBC World Markets upgraded it to a "buy" due to its stellar earnings report late yesterday.

• Citigroup gained on positive comments from a JP Morgan analyst. Citigroup and JP Morgan Chase & Co. have been battered lately due to their involvement with Enron. Will Citigroup have positive comments on JP Morgan next? Just asking.

• Sykes Enterprises gained 11.68% after its board approved a 3 million common stock buyback program.

• Advertising giant, Interpublic, lost 10.61% after failing to release its earnings today.

• Number 3 advertising company, Omnicom Group, gained 12.90% after reporting fiscal Q2 earnings that rose 9% to $187.3 million, which met Wall Street estimates, on revenue that rose to $1.92 billion. US advertising revenue rose a whopping 21% to $1.1 billion, while global advertising saw a decline of 3% to $797.2 million.

• Ballard Power Systems gained 25.30% after it announced with Ford Motor Co. that they will announce a major breakthrough tomorrow. Ford Motor Co. also gained.

• Dynegy gained 34.75% after reassuring that its plans to sell its gas pipeline to Berkshire Hathaway subsidiary, MidAmerica Energy, is going to proceed as planned.

• 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.

• Cooper Industries gained 4.07% after stating that it will start expensing stock options given after January 1st. 2003.

• Jetblue Airways gained 4.33% after announcing that its revenue passenger miles gained 111% over the year in July, while load factor for July rose 5.1% to 87.8%.

• AFTER CLOSE: WebMD is unchanged in after hours trading after reporting fiscal Q2 net loss of 7 cents a share, well better than the $2.30/share loss seen last year. EBITDA was 4 cents a share, 1 cent a share better than First Call estimates, although revenue declined $1.3 million over the year to $196.1 million.

• AFTER CLOSE: Cisco Systems is still gaining in after hours trading after reporting fiscal Q4 pro forma earnings of 14 cents a share, 2 cents a share better than First Call estimates, on revenue of $4.8 billion. Cisco also increased its stock buyback plan by more than 100% to $8 billion.

• AFTER CLOSE: TMP Worldwide is losing in after hours trading after warning about its fiscal Q2 results. TMP Worldwide also announced that its President & COO, Jim Treacy, is leaving the company. TMP Worldwide plans to cut staff due to the poor demand for employees.

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PICKS FOR THE NEXT MARKET DAY

REASONS BEHIND THE PICKS

STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play. 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 AUGUST 5TH. 2002

DOW INDUSTRIAL: 8043.63 = -269.50

NASDAQ: 1206.01 = -41.91

S & P 500: 834.60 = -29.64

MOST ACTIVE STOCKS & SECTORS

The markets closed lower to a new 5 year low on disappointing economic data. Buyers simply sat this one out, as evidenced by the trading volume too. The NASDAQ, which was down all day, had a light trading volume of over 1.350 billion, while the NYSE also had a light trading volume of over 1.395 billion shares. Gainers included: 7-Eleven Corp, AMD, Ashanti Goldfields Ltd, BankAtlanta, Biodelivery Sciences, Bone Care International, Bookham Technologies Plc, Boston Biomedical, Concord EFS, Corrections Corporation of America, Culp, Deluxe Corp, Energizer, FMS Financial, Gilead Sciences, Integra Lifesciences, Landry's Restaurants, Libbey, Lucent Technologies, Medi-Hut, Meridian Gold, Micro Therapeutics, NCI Building, Nexmed, Nobility Homes, Nortel Networks, Nucentrix Broadband, Orbital Sciences, Philip Morris, Pioneer Corp, Quicksilver, Qwest Communications International, Rnadgold & Exploration, RJ Reynolds Tobacco Co, Roc-Tenn Co, Royal Gold, Skyepharma Plc, Smith & Nephew Plc, Tele2 AB, and TVX Gold.

MAIN REASONS FOR ACTIVITY

• The Institute of Supply Management (ISM), formerly the NAPM, reported that its ISM Non-manufacturing Index declined 4.1% to 53.1% in July - any point above 50% is an expansion. 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.

• Cisco Systems lost 4.46% after Lehman Brothers downgraded it to an "equal weight".

• Tobacco stocks gained after the California Supreme Court upheld a 1988 to 1998 law that barred people from suing to claim damages for products known to have health risks.

• Cox Communications lost 19.30% after CS First Boston downgraded it to a "hold".

• JDS Uniphase closed unchanged despite an upgrade from SoundView Technology to a "neutral". The networking equipment sector was weak, except for Lucent Technologies and Nortel Networks.

• Citigroup and JP Morgan Chase & Co. lost 7.22% and 6.29% respectively after Lehman Brothers reduced its 12 month price target on them due to the sluggish economy. Financials was one of the weakest sectors today.

• Gilead Sciences gained 6.75% after the FDA requested outside advisers' input before approving its Hepatitis B drug, Adefovir™.

• Quicksilver gained 5.61% after Wachovia Securities upgraded it to a "strong buy".

• Mirant lost 16.05% after announcing that the SEC is investigating its energy trading practices.

• Deluxe Corp. gained 3.66% despite a Standard & Poor's credit downgrade, and the possibilities that Moody's Investor Services might downgrade it too.

• Procter & Gamble (P&G) lost 2.67% despite reporting fiscal Q4 earnings that beat Wall Street estimates at 64 cents a share, on sales that rose 6% to $10.17 billion - thanks to the Clairol brand which boosted sales. Beauty products sales rose 22%, while health care sales rose 11%.

• 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.

• AMD gained 3.56% after Barrons'™ of the weekend stated in an article that AMD's new chip can help it gain on Intel.

• Bookham Technologies gained 16.72% after SoundView Technology upgraded it to a "neutral".

• KLA-Tencor lost 5.35% after announcing that COO Gary Dickerson will also assume the duties of President now being performed by Ken Schroeder. Mr. Schroeder will remain as CEO.

• Microsoft closed lower after announcing today that as part of its settlement with the US Department of Justice last year, it will make about 385 bits of its Windows™ Operating System available to developers.

• AFTER CLOSE: Mercury Computer Systems is gaining in after hours trading after reporting fiscal Q4 net earnings of 24 cents a share, 4 cents a share better than First Call estimates.

• AFTER CLOSE: Metlife is still losing in after hours trading after reporting fiscal Q2 net income that rose 21% to 53 cents a share, thanks to a strong insurance business. Metlife took a $215 million charge relating to Worldcom's implosion.

• 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.

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PICKS FOR THE NEXT MARKET DAY

REASONS BEHIND THE PICKS

STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play. Check out our Quarterly forecasts for other picks.

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

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MARKET SUMMARY FOR FRIDAY AUGUST 2ND. 2002

DOW INDUSTRIAL: 8313.13 = -193.49

NASDAQ: 1247.92 = -32.08

S & P 500: 864.24 = -20.41

MOST ACTIVE STOCKS & SECTORS

The markets closed lower on disappointing economic data. The NASDAQ, which was down all day, had a moderate trading volume of over 1.422 billion, while the NYSE also had a light trading volume of over 0.068 billion shares. Gainers included: Amgen, Anglogold Ltd, Ashanti Goldfields Ltd, Banco Bradesco SA, Banco Itau SA, Barrick Gold, Books-A-Million, Brasil Telecom, Bristol Myers Squibb, Brocade Communications, ChevronTexaco, Columbus McKinnon, Comcast, Copel, Copen-Telecom, Dai Ei, Digital Recorder, Eden Biosciences, Escalade, Fremont General Corp, Gemstar-TV Guide, Gerdau SA, Glamis Gold, Gold Fields Ltd, Harmony Gold Mining, Hecla Mining, Hycor Biomedical, Immucell Corp, Intier Automotive, JDS Uniphase, Johnson & Johnson, Lihir Gold, Mediabay, Meridian Gold, Monarch Dental, Newmont Mining, Nextel Communications, Nutraceutal, Petroleo Brasil, Philip Morris, Placer Dome, Polydex Pharmaceuticals, Polymer Resources, Royal Gold, Tekelec, Tele Norte Leste Participacoes SA, Telemig Celular Participacoes SA, Tripos, TVX Gold, Tyco International, Unibanco, and Vastera.

MAIN REASONS FOR ACTIVITY

• US New Orders for Manufactured Goods (excluding semiconductor sector) declined 2.4%, or $7.7 billion, to $313.2 billion in June. Shipments declined 1.0%, or $3.2 billion, to $320.5 billion. Inventory declined 0.1%, or $600 million, to $428 billion. The Inventory-to-Shipments Ratio rose to 1.34.

• US Non-farm payrolls rose 6,000 (statistically unchanged), as the Unemployment Rate held steady at 5.9% in July.

• US Personal Income rose 0.6% in June, while Disposable Personal Income rose 0.7%.

• US Average Workweek declined to a lower than expected 34.0 Hours, as Hourly Earnings rose a higher than expected 0.3%. 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.

• Gold prices and stocks rose as investors sought safer havens after a full week of disappointing US economic data.

• Japanese retailer Dai Ei gained 11.47% despite reporting that its July Same Store Sales declined up to 10%.

• Veritas Software lost 1.08% on rumors that its top executives are departing left to right. Veritas denied the rumor.

• Oil stocks closed lower, though oil prices rose after the UN's weak response to Iraqi's request that, it will welcome back weapons inspectors, so as to avoid a likely US military strike.

• Tekelec gained 29.27% after surprising the market with a late Thursday fiscal Q2 pro forma profit of 10 cents a share, which beat Wall Street estimates, as revenue rose 13% to $80 million. Tekelec was upgraded by HC Wainwright, Raymond James, and Robert W. Baird.

• Dynegy lost 22.91% on news that it is in talks with the SEC to settle - the market is now beginning to question the company's accounting practices.

• 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.

• Disney lost 9.03% today and led media stocks lower after Wall Street failed to be impressed with its earnings reported late Thursday.

• Brazilian American Deposit Receipts (ADRs) gained on hopes of an IMF aid. The International Monetary Fund (IMF) did confirm on Thursday that it is in talks with Brazil.

• AOL Time Warner lost 6.43% after announcing that the SEC is investigating its online unit and its relationship with software vendor, PurchasePro. PurchasePro lost 3.03%.

• Tyco International continued its bounce due to the departure of its CFO who supported "creative Accounting", Mark Swartz.

• Trizec Properties closed lower after its disappointing earnings on Wednesday prompted Salomon Smith Barney analyst Jonathan Litt to downgrade it to a "sell". Mr. Litt also accused company Chairman, Peter Munk, for not being interested in maximizing shareholder value. Mr. Litt made known that he will hand over his research and what he has discovered to New York State Attorney General, Eliot Spitzer, and SEC chairman, Harvey Pitt. Ouch!

• National Semiconductor closed lower today after lowering its fiscal Q1 sales target late Thursday. Semiconductor stocks were weak today.

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STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play. 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 AUGUST 1ST. 2002

DOW INDUSTRIAL: 8506.62 = -229.97

NASDAQ: 1280.00 = -48.26

S & P 500: 884.66 = -26.96

MOST ACTIVE STOCKS & SECTORS

The markets closed lower on disappointing economic data, as the arrest of 2 Worldcom executives in connection with the company's $3.85 billion misappropriation failed to ignite confidence in the market. The NASDAQ, which was down all day, had a moderate trading volume of over 1.552 billion, and the NYSE also had a moderate trading volume of over 1.661 billion shares. Gainers included: Actuity Brands, Alcatel France SA, Alkermes, Allied Waste, Armstrong Worldwide, AT&T Wireless, Benthos, Chipmos Technology, Concord EFS, Cryolife, Dynegy, Epix Medical, Flextronics International, Image Sensing, Imagistics International, ITT Education, JP Morgan Chase & Co, Lanoptics Ltd, Lehman Corning, Life Financial, Lo-Jack Corp, Midway Games, Newell Rubbermaid, Nucentrix Broadband, Omega Worldwide, Optelecom, Priceline.Com, Quinsa, Reliant Resources, Roxio, Sanmina-SCI, Sealed Air Corp, Skyworks Solutions, Sun Microsystems, Supportsoft, Synaptics inc, Triton PCS Holdings, Tyco International, Urologix, Votorantum, and Williams Companies.

MAIN REASONS FOR ACTIVITY

• US Initial Jobless Claims for weekending July 27th. rose 20,000 to 387,000. The 4-week moving average declined 250 to 386,000.

• US Construction Spending declined an unexpected 2.2% in June.

• The Institute of Supply Management (ISM), formerly the NAPM, reported that the ISM Index, a good measure of manufacturing activity in the US, declined sharply in July to 50.5% - any point above 50% is still an expansion.

• US Vehicles Sales rose to a surprising 18.1 million units sold in July. 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.

• Adobe Systems lost 29.76% today after warnings about its fiscal Q3 results late yesterday.

• Priceline.Com gained 8.11% today after reporting stellar earnings late yesterday, and announcing a $40 million stock buyback plan.

• Royal Dutch/Shell lost 7.64% today after reporting fiscal Q1 net income that declined 38% to $2.2 billion.

• ExxonMobil lost 8.46% after reporting fiscal Q1 earnings that declined 41%.

• Urologix gained on takeover rumors.

• Qualcomm lost 6.80% after CS First Boston downgraded it to a "hold".

• Tyco International gained 0.08% today after announcing that its CFO and staunch support of its accounting practices that got it in trouble, Mark Swartz, is stepping down.

• Williams Companies gained 28.81% after securing $2 billion in financing from Billionaire investor, Warren Buffett, and from banks too. Williams also raised $1.4 billion by selling assets.

• Cisco Systems lost 8.26% on market rumors that its President and CEO would resign. Cisco denied the rumors.

•  Atmel lost 6.03% despite an upgrade from Merrill Lynch to a "buy". Semiconductor shares were generally weak today.

• 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.

• Roxio gained 19.13% after announcing that it has began the shipment of its VideoWave Movie Creator software.

• JDS Uniphase lost 11.03% after selling its Cronos Micro-electromechanical systems to France's Memscap for $8.5 million, about 1% of what it paid for it in 2000.

• Alkermes gained 21.27% after German regulators approved its injectable Schizophrenic drug, Risperdal.

• Omega Worldwide gained 49.09% after agreeing to be acquired by Four Seasons Health Care for $119 million, and the assumption of debt.

• AFTER CLOSE: Disney is still losing in after hours trading after reporting fiscal Q3 pro forma earnings of 17 cents a share on sales of $5.8 billion.

• AFTER CLOSE: National Semiconductor is unchanged in after hours trading after lowering its fiscal Q1 sales.

• 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.

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STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play. 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 JULY 31ST. 2002

DOW INDUSTRIAL: 8736.59 = +56.56

NASDAQ: 1328.26 = -15.93

S & P 500: 910.54 = +7.76

MOST ACTIVE STOCKS & SECTORS

The Dow closed this frightening month on a high note, while the NASDAQ closed lower. The poor US economic data today didn't help either. The NASDAQ, which was down all day, had a moderate trading volume of over 1.641 billion, while the NYSE had a very heavy trading volume of over 1.918 billion shares. Gainers included: Abbott Labs, Adobe Systems, Allegheny Energy, Amgen, Ark Restaurants, AT&T, Aventis SA, Bank of America, Dickie Walker, Dynegy, Elan Corp, Enron Corp, EOTT Energy, Equity Oil, Exelixis, ExxonMobil, FleetBoston Financial, Ford Motor Co, GE, Global Sources, Hewlett Packard, Home Depot, Hurricane Hydrocarbons Ltd, ID Systems, Interface, Internet Initiative Japan, JDS Uniphase, Johnson & Johnson, JP Morgan Chase & Co, K-V Pharmaceuticals, Level 3 Communications, Merck & Co, Murphy Oil Corp, Open Text Corp, Oracle, Pfizer, Pharmacia, Priceline.Com, Providian Financial, Rehabcare, SBC Communications, Sprint FON Group, Strategic Distribution, Suntron Corp, Torch Energy, Triangle Pharmaceuticals, Veritas DGC, Verizon Communications, Wal-Mart, Williams Companies, and Xcel Energy.

MAIN REASONS FOR ACTIVITY

• The Chicago Purchasing Managers' Association (PMI) reported that its PMI Index, a good measure of manufacturing activity in the Chicago area, declined 7 points in July to 51.5% - any point above 50% is an expansion.

• The US Gross Domestic Product (GDP) grew only 1.1% in Q2 2002.

• US Agricultural Prices rose 2.0% in July, due mostly to the Weaker Dollar and the drought.

• The Energy Information Administration (EIA) reported that for weekending July 26th, US crude oil inventory declined by 2 million barrels, while Distillates gained 1.1 million barrels.

• The Mortgage Bankers Association (MBA) reported that for weekending July 26th, its MBA Mortgage Applications Survey Index rose 23.2% to 1004.3. The Purchase Index rose to 360.5. The Refinance Index rose to 4748.8. The 30-year fixed rate mortgage rose to 6.32%.

• The Federal Reserve 12 Districts "Beige Book" was released today, and the Senate approved 2 candidates to feel the vacant board of governors positions. We will have the complete summary and a brief about the appointees tomorrow at our Federal Reserve Monetary Policy Analysis page. Also, visit our expanded message boards to discuss this topic or any other business topic by clicking here.

• Energy stocks continued their rally today. Biotechnology stocks didn't do bad either.

• Traingle Pharmaceuticals gained 22.55% and led pharmaceuticals higher today after announcing that it will reacquire 4 trial drugs from Abbott Labs. Triangle Pharmaceuticals also announced that, one of the drugs, Coviracil™, has shown positive results against the HIV virus. Abbott Labs also gained today.

• Johnson & Johnson gained 4.04% after announcing that its will start shipping medication coated Stents early next year, and Medicare will cover it.

• Merck & Co. gained 2.25% after announcing that it will not spinoff its medical management unit, Medco - at least not now.

• AOL Time Warner lost 7.26% after announcing that the US Justice Department is also investigating its America Online division on possible accounting practices violations. This is separate from the SEC investigation.

• ID Systems gained 19.28% after Ford Motor Company ordered more of its wireless vehicle monitoring technology for its materials handling fleet.

• FleetBoston gained 10.58% on market rumors that major rivals like Citigroup or Bank of America might acquire it.

• GE gained 1.90% after announcing today that it will start expensing its stock options too. GE also made known that its last financial results were certified by its CEO.

• IBM lost 1.94% today after announcing late yesterday that it is paying $3.5 billion to acquire consulting giant, PriceWaterhouseCoopers.

• Nvidia was slammed today, losing 31.75% after warning late yesterday that its fiscal Q2earnings and revenue will miss 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.

• Verizon Communications gained 9.27% after reporting quarterly losses, lower growth, and lowered its outlook. Wall Street felt it could have been worst.

• Providian Financial was rewarded with a rally today after reporting strong earnings late yesterday. KLA-Tencor, which also reported strong earnings, but lowered fiscal Q1 revenue outlook, closed lower - chip stocks were hit today.

• Amgen gained 0.33% despite an announcement by Transkaryotic that it won a major legal battle in their anti-anemia medication wars. Transkaryotic lost 0.85%.

• AFTER CLOSE: Priceline.Com is still gaining in after hours trading after reporting fiscal Q2 pro forma earnings of 3 cents a share, which met First Call estimates, on revenue of $304.5 million. Priceline also announced that its board approved a $40 million stock buyback plan.

• AFTER CLOSE: Adobe Systems is losing aggressively in after hours trading after warning about its fiscal Q3 revenue due to its poor performance in July.

• AFTER CLOSE: Open Text Corp. is still gaining in after hours trading after reporting a fiscal Q4 results that beat First Call estimates.

• AFTER CLOSE: Biopure is gaining in after hours trading after announcing that it will apply with the FDA for the experimental human blood substitute, Hemopure™. 

• AFTER CLOSE: Compudyne is still losing in after hours trading after reporting poor fiscal Q2 results.

• 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.

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PICKS FOR THE NEXT MARKET DAY

REASONS BEHIND THE PICKS

STOCKS TO WATCH NEXT MARKET DAY: All stocks are in play. 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 JULY 30TH. 2002

DOW INDUSTRIAL: 8680.03 = -31.85

NASDAQ: 1344.19 = +8.94

S & P 500: 902.78 = +3.83

MOST ACTIVE STOCKS & SECTORS

The markets closed mixed as the Dow lost on profit taking, while the NASDAQ managed a gain. The NASDAQ, which rallied in the last hour of trading, had a heavy trading volume of over 1.737 billion, while the NYSE had a very heavy trading volume of over 1.811 billion shares. Gainers included: Amgen, AOL Time Warner, Applied Materials, Ask Jeeves, AT&T, Atmel Corp, Biogen, Broadcom, Brocade Communications, Calpine Corp, Capital One Financial, Charter Communications, Chippac, Chiron, Cisco Systems, Comcast, Conexant Systems, Dell, Durban Roodepoort Deep, Dynegy, El Paso Corp, EMC Corp, GE, Genzyme General, Guidant, Hewlett Packard, IBM, IDEC Pharmaceuticals, Intel, JDS Uniphase, KLA-Tencor, Madison Bancshares, Mantech International, MedImmune, Mirant Corp, Nextel Communications, Nvidia, Oracle, Providian Financial, QLogic, RazorFish, Royal Dutch Petroleum, Security First Technologies, Siebel Systems, Sprint FON Group, Sprint PCS Group, Sykes Enterprises, Tyco International, Veritas Software, Williams Companies, Xcel Energy, and Zomax.

MAIN REASONS FOR ACTIVITY

• The Conference Board reported that, the US Consumer Confidence Index declined sharply from June's 106.3 reading to 97.1 in July.

• The Bank of Tokyo-Mitsubishi US Chain Store Sales Index fro weekending July 27th. declined 0.4%.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.

• Dynegy gained 45% despite reporting a fiscal Q2 loss and cutting its full year outlook.

• Blue chip stocks closed lower on profit taking, as semiconductor and biotechnology shares enjoyed a bargain hunting rally.

• ChevronTexaco lost 1.86% after reporting fiscal Q2 results that missed.

• Corning lost 21.59% today after Moody's Investor Services and Standard & Poor's downgraded its debt late yesterday.

• FreeMarkets lost today as the market failed to be excited about its earnings report late yesterday.

• Sykes Enterprises gained 20.95% despite reporting dismal earnings late yesterday, and lowering its outlook.

• Guidant gained 4.92% after announcing that it is paying $3 billion in stock to acquire privately held drug coated Stents maker, Cook Group.

• JDS Uniphase gained 17.92% after Morgan Stanley upgraded it to an "overweight".

• Stocks reacted little to the tough corporate accountability law signed by President George W. Bush today.

• 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.

• Williams Companies gained 21.11% after reporting a fiscal Q2 loss that was expected by the markets.

• Mantech International gained 18.65% after raising its fiscal Q2 outlook.

• AFTER CLOSE: Priceline.Com is gaining in after hours trading on the eve of its earnings report.

• AFTER CLOSE: Providian Financial is still gaining in after hours trading after reporting a fiscal Q2 earnings of 9 cents a share (recurring basis), 1 cent a share better than First Call estimates, as revenue declined over the year to $1.32 billion. Providian Financial also announced plans to cut jobs.

• AFTER CLOSE: KLA-Tencor is losing in after hours trading after reporting fiscal Q4 earnings of 23 cents a share, 3 cents a share better than First Call estimates, on revenue of $373 million. KLA-Tencor expects fiscal Q1 earnings to meet estimates, but revenue to decline slightly. 

• AFTER CLOSE: Nvidia is losing in after hours trading after announcing that its fiscal Q2 earnings and revenue will miss Wall Street estimates.

• AFTER CLOSE: Security First Technologies is still gaining in after hours trading after reporting a smaller fiscal Q2 loss, and expects to be profitable in fiscal Q4.

• AFTER CLOSE: Ballard Power Systems is gaining in after hours trading after reporting fiscal Q2 earnings that beat First Call estimates by 26 cents a share, on revenue of $21.5 million, thanks to the weaker US Dollar.

• AFTER CLOSE: IBM is unchanged after announcing that it is paying $3.5 billion to acquire consulting company, PriceWaterhouseCoopers.

• 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: All stocks are in play. 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 JULY 29TH. 2002

DOW INDUSTRIAL: 8711.88 = +447.49

NASDAQ: 1335.25 = +73.13

S & P 500: 898.96 = +46.12

MOST ACTIVE STOCKS & SECTORS

The markets rallied as the Dow posted its 3rd best single day rally on record, as investors went after bargains - actually ignoring Qwest Communications' accounting problems confession. The NASDAQ, which was up all day, had a very very heavy trading volume of over 1.944 billion, while the NYSE had a very heavy trading volume of over 1.762 billion shares. Gainers included: Action Performance, Acuity Brands, Administaff, Amazon.Com, American International Group (AIG), Amgen, AOL Time Warner, Applied Materials, Ask Jeeves, AT&T, Atmel Corp, Broadcom, Brocade Communications, Cablevision Systems, Charter Communications, Citigroup, Clear Channel, Coca Cola, Comcast, Computer Associates, Corning, Cox Communications, CSG Systems International, Datawatch, Dell, Disney, eBay, eBookers Plc, El Paso Corp, EMC Corp, ExxonMobil, FleetBoston Financial, Fox Entertainment, FreeMarkets, GE, Hanover Compressor, Harmonics, Healthsouth, Hewlett Packard, Home Depot, IBM, Intel, Johnson & Johnson, JP Morgan Chase & Co, KLA-Tencor, Luminex, M&F Worldwide, Macrovision, Martha Stewart Living Omnimedia, Metris Companies, Microsoft, Motorola, News Corp, Nextel Communications, Novellus Systems, Nvidia, Oracle, Pfizer, QLogic, Qualcomm, Radioshack, Sears Roebuck & Co, Siebel Systems, Skeechers USA, Sprint FON Group, Sprint PCS Group, Sun Microsystems, Teva Pharmaceuticals, Texas Instruments, Tyco International, UAL Corp, USA Interactive, Veritas Software, Viacom, Vivendi Universal SA, Vodafone Group Plc, Wal-mart, Washington Post Co, Worldcom Group, 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.

• Charter Communications gained 36.74% and led cable and media stocks higher after the New York Times newspaper reported that the company's founder and Chairman, Paul G. Allen of the Microsoft firm, is buying back chunks of Charter's debt and equities.

• Cox Communications gained 9.95% after an SEC filing shows that Microsoft Co-founder and Chairman, Bill Gates, now owns 5.8% of Cox through his Cascade Investments unit, and the Bill and Melinda Gates Foundation.

• Qwest Communications lost only 0.67% today after reporting late Sunday that it will have to restate results from 1999 to 2001 for an improper $1.16 billion in sales accounting practice. The market either already factored this in, or bargain hunters couldn't wait.

• Computer