MARKET SUMMARY FOR WEDNESDAY SEPTEMBER 18TH. 2002

DOW INDUSTRIAL: 8172.45 = -35.10

NASDAQ: 1252.13 = -7.81

AMEX: 855.61 = -1.04

S & P 500: 869.46 = -4.06

MOST ACTIVE STOCKS & SECTORS

The markets closed lower due to earnings warnings. The NASDAQ, which was briefly positive around 3:00 PM EST, had a moderate trading volume of over 1.573 billion, while the NYSE had a trading volume of over 1.474 billion shares. Gainers included: Abbott Labs, Adaptec, Aegis Realty, Amgen, AOL Time Warner, Apple Computer, Applied Materials, AT&T, Biomet, Biopure, Birner Dental, British American Tobacco Plc, Broadcom, Brocade Communications, Cache inc, Cepheid, Cheesecake Factory, Contango O&G, Crysallex International, Detrex Corp, EarthLink, El Paso Corp, Emeritus, ExxonMobil, Fannie Mae, Freddie Mac, Gateway Computer, Grey Wolf, Grubb & Ellis, Holly Corp, Household International, InfoSpace, Interpore International, iShares MSCI Japan Index Fund, iShares S&P/TOPX, Jack in the Box, Johnson & Johnson, KLA-Tencor, K-Mart, Kyocera, Linear Technology, Microsoft, Nabors Industries Ltd, NCO Group, NCO Professional Management, Nextel Communications, Nomura Holdings Ltd, NTT Docomo, Pioneer, Priceworks, Rehabcare, Ribapharmaceuticals, SAP AG, Servtronics, Siebel Systems, Sonus Pharmaceuticals, Station Casinos, Toyota Motor Co, UQM Technologies, Utilities HOLDRS® Trust, Vivendi-Universal SA, and Worthington Industries.

MAIN REASONS FOR ACTIVITY

• The US Consumer Price Index (CPI) rose 0.3% in August. The Core CPI, which excludes volatile energy and food sectors, also rose 0.3% for the period.

• The SEMI Semiconductor equipment Book-to-Bill Ratio declined to 1.14 in August, the second monthly decline in a row.

• The National Association of Home Builders (NAHB) reported that its NAHB Housing Market Index rose to 63 in September.

• The Energy Information Administration (EIA) reported that for weekending September 13th, US crude oil inventories declined 5.4 million barrels, as Distillates declined 2.2 million barrels. The EIA is concerned about the recent decline in all US inventories.

• The Mortgage Bankers Association (MBA) reported that for weekending September 13th, its MBA Mortgage Applications Survey Index declined 8.7% to 1130.1 - still the second highest levels on record. The Purchase Index declined to 357.4. The Refinance Index declined to 5625.0. The 30-year Fixed rate Mortgage declined to a record low of 5.90%.

• US Trade Deficit declined to a lower than expected $34.6 billion 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.

• Oracle lost 7.86% today after reporting earnings late yesterday that met Wall Street estimates, but revenue missed. Wall Street was also concerned about its outlook.

• Servtronics gained 2.67% after entering into a $2.7 million Missile Systems alliance with Raytheon.

• Red Hat lost 6.63% today, despite reporting better than expected results yesterday.

• Vivendi-Universal gained 5.59% after signing a $3 billion line of credit.

• Abbott Labs gained 4.74% after Merrill Lynch upgraded it to a "buy" on optimism that the FDA will approve its Rheumatoid drug, D2E7™, sooner than expected.

• JP Morgan Chase & Co. lost 5.15% and took financial stocks down with it after warning about its fiscal Q2 results.

• Merrill Lynch today terminated Vice Chairman, Thomas W. Davis, and Investment Banking Managing Director, Schuyler Tilney, for refusing to testify before the US Securities and Exchange Commission, and the US Department of Justice. Merrill Lynch closed lower.

• K-Mart gained on news that United Online, the Parent of Juno Online™ and NetZero, has expressed interest in acquiring its profitable Internet Service Provider (ISP), BlueLight™.

• Hershey Foods lost 11.94% after the trust managing it decided not to sell the company to William Wrigley. William Wrigley lost 0.16%.

• Japanese American Deposit Receipts (ADRs) gained after the Bank of Japan announced plans to start buying shares directly from banks, thus raising optimism that this might stabilize its ailing financial sector.

• Gateway is gaining from naming Roderick Sherwood as its new CFO late Monday.

• AFTER CLOSE: EDS lost an additional 33.63% after hours trading after warning that its fiscal Q3 earnings will be at least 79% lower.

• AFTER CLOSE: Herman Miller reported fiscal Q1 earnings of 13 cents a share, well better than the 4 cents/share loss seen last year, thanks to improved margins.

• 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.

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 SEPTEMBER 17TH. 2002

DOW INDUSTRIAL: 8207.55 = -172.63

NASDAQ: 1259.94 = -15.94

AMEX: 856.65 = -14.53

S & P 500: 873.52 = -17.58

MOST ACTIVE STOCKS & SECTORS

The markets closed lower due to earnings warnings. The NASDAQ, which slumped at the opening bell, had a moderate trading volume of over 1.503 billion, while the NYSE had a trading volume of over 1.366 billion shares. Gainers included: Alcan, Alliance Bancorp, Alliance Data Systems, Allied Healthcare, Amazon.Com, APT Satellite Holdings, Asta Funding, AT&T, Bea Systems, Best Buy, Blair Corp, Cantel Medical, Carrizo O&G, Commerce One, CP Ships Ltd, Crysallex International, Culp, Dell, Diedrich Coffee, DigitalThink, Disney, Dollar General Stores, Eateries, Empire Financial Holdings, Eurotrust AS, ExpressJet Holdings, Factsheet Research, Flamel Technology, Foodarama Supermarkets, Franklin Capital, Gateway Computer, Good Times, Granite Broadcasting Corp, Hitech Pharmaceuticals, Hub Group, Interstate Bakeries, Interstate General, iShares MSCI Japan Index Fund, John Hamm Hotel, Microchip Technology, Moore Medical, Nautilus Group, NetGuru, Novellus Systems, NRG Energy, Ohio Art Co, QAD, Shiloh Industries, Sun Microsystems, Telus Corp, TTM Technologies, Tufco Technology, Tutogen Medical, UQM Technologies, US Concrete, Versar, Waterford Wedgewood Plc, and Xeta Technology.

MAIN REASONS FOR ACTIVITY

• The Bank of Tokyo-Mitsubishi reported that for weekending September 14th, US Chain Store Sales was unchanged.

• US Industrial Production declined 0.3% in August, a bigger drop than expected. 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.

• McDonalds lost 12.82% after warning about current quarter earnings. McDonalds also announced that it will scale back store opening and buyback only about $500 million worth of its stock, well short of the $1.1 billion it spent last year on buybacks.

• Kroger Co. lost 12.49% after reporting fiscal Q2 earnings that missed by 7 cents a share, and cut its fiscal Q3 outlook.

• Best Buy gained 5.69% after reporting results that beat Wall Street estimates.

• Oil stocks closed lower after Iraq agreed to unconditional return of UN weapons inspectors - thus taking out the war premium in oil prices.

• Microchip Technology gained 10.68%today after raising its fiscal Q2 earnings outlook late yesterday.

• JDA Software lost 36.85% after warning about its fiscal Q3 results.

• AmeriCredit lost 37.89% after announcing plans to raise $500 million by issuing new shares. The market is concerned that the action will dilute the company's shares and this will put more burden on meeting earnings estimates.

• Foodarama Supermarkets gained 2.70% after reporting fiscal Q3 earnings of $1.15 a share, 19 cents a share better than the year before.

• Gateway gained 2.81% today after announcing late yesterday the appointment of Roderick Sherwood as its new CFO.

• Pfizer lost 2.28% despite reaffirming its fiscal 2002 forecast.

• Crysallex International gained 3.64% after signing an agreement to develop Venezuela's Las Cristinas gold project.

• AFTER CLOSE: Red Hat is still losing in after hours trading after reporting a fiscal Q2 loss of only 1 cent a share, in line with Wall Street estimates, but revenue missed at $21.2 million.

• AFTER CLOSE: Oracle is still losing after reporting fiscal Q1 earnings of 7 cents a share, in line with First Call estimates, on revenue of $2.0 billion, which missed Wall Street estimate of $2.06 billion.

• AFTER CLOSE: JP Morgan Chase & Co. is losing in after hours trading after lowering its fiscal Q2 outlook.

• 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.

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.

<---D748--->

MARKET SUMMARY FOR MONDAY SEPTEMBER 16TH. 2002

DOW INDUSTRIAL: 8380.18 = +67.49

NASDAQ: 1275.88 = -15.52

S & P 500: 891.10 = +1.29

MOST ACTIVE STOCKS & SECTORS

The markets closed mixed as the Dow gained, while the NASDAQ lost. The NASDAQ, which turned negative around 10:00 AM, had a light trading volume of over 1.099 billion, and the NYSE also had a light trading volume of over 0.977 billion shares as traders took off to celebrate Jewish holiday of Yom Kippur. Gainers included: Agco Corp, Aquila Corp, Aristotle Corp, Barbeques Galor, Bea Systems, Biodelivery Sciences, Biomarin Pharmaceuticals, Boeing Co, Cablevision Systems, Canwest Global, Cavalier Homes, Ceridian, Citigroup, Comstock Resources, Culp, Disney, Docummon, Eli Lilly & Co, Ethyl Corp, Eurotrust AS, ExxonMobil, First Georgia Holdings, Ford Motor Co, Forgent Networks, GE, General Dynamics, Genzyme General Division, Goodrich Petroleum, Hewlett Packard, Home Depot, Honeywell International, McAfee.Com, McDonalds, Meridian Medical Technologies, National Golf Properties, Nextel Communications, Northrop Grumman, Optelecom, Pfizer, Philip Morris, Red Hat, Rex Stores, Rogers Communications, Saba Software, Select Comfort, Titan Corp, Viisage Technology, Wal-Mart, and Zi Corp.

MAIN REASONS FOR ACTIVITY

• US Business Inventories rose 0.4% in July, as Sales gained 1.2%, thus pushing the Inventory-to-Sales Ratio lower to 1.35. 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.

• Boeing gained 4.64% after its largest union voted against a strike.

• Oil stocks gained as the OPEC is set to meet this week, and the US-Iraq war tensions continue.

• Genzyme General Division gained 8.42% despite lowering its fiscal Q3 and full year revenue outlook.

• GE gained 3.14% despite reports that the SEC is investigating its retirement package for former boss, Jack Welch.

• JP Morgan Chase & Co. lost 1.50% after a Federal Judge dismissed its lawsuit against some insurance companies so as to recover about $1 billion the investment bank lost to Enron.

• Eli Lilly & Co. gained 1.17% after receiving an FDA approval letter for its depressant drug, Cymbalta™.

• Meridian Medical Technologies gained 20.31% after renewing its industrial Base maintenance contract with the US Department of Defense.

• Northrop Grumman and General Dynamics gained 1.59% and 4.31% respectively after their subsidiaries won a $5 billion US Navy contract.

• Semiconductor shares took it on the chin today: Singapore's Chartered Semiconductor Manufacturing lost 6.67% after warning about its fiscal Q4 revenue target; Prudential Securities and Merrill Lynch downgraded major players in the sector.

• Storage device makers closed lower after Merrill Lynch lowered its estimates on the sector.

• Select Comfort gained 21.10% after announcing that its fiscal Q3 sales and revenue will beat Wall Street estimates.

• McDonalds gained 5.65% after Morgan Stanley Dean Witter upgraded it to an "equal weight".

• Red Hat gained 11.22% after entering into a Linux™ joint marketing deal with IBM. IBM closed lower.

• AFTER CLOSE: Microchip Technology is gaining in after hours trading after raising its fiscal Q2 earnings outlook.

• AFTER CLOSE: Iraq finally agreed to an unconditional return of UN weapons inspectors.

• 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.

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.

<---D747--->

MARKET SUMMARY FOR WEDNESDAY AUGUST 14TH. 2002

DOW INDUSTRIAL: 8743.31 = +260.92

NASDAQ: 1334.30 = +65.02

S & P 500: 919.62 = +35.41

MOST ACTIVE STOCKS & SECTORS

The markets rallied today as corporate executives vouched for their companies' financial results much better than the market expected - today was the deadline for the SEC corporate financial results certification. The NASDAQ, which turned positive around 11:00 AM, had a moderate trading volume of over 1.632 billion, and the NYSE also had a moderate trading volume of over 1.486 billion shares. Gainers included: ADC Telecommunications, Altera, Amgen, AOL Time Warner, Applied Materials, AT&T, Atmel, Bea Systems, Bristol Myers Squibb, Brocade Communications, Capital One Financial, Cisco Systems, Citigroup, Comcast, Concord EFS, Dell, Disney, eBay, EMC Corp, ExxonMobil, GE, Home Depot, HomeStore, Household International, Imclone Systems, Intel, JDS Uniphase, JP Morgan Chase & Co, KLA-Tencor, Microsoft, Monsanto, Motorola, Network Appliance, Nextel Communications, Nokia, Novellus Systems, Oracle, Pfizer, PurchasePro, QLogic, Qualcomm, Siebel Systems, Sun Microsystems, Texas Instruments, TJX Companies, Tyco International, USA Interactive, Wal-Mart, and Yahoo!

MAIN REASONS FOR ACTIVITY

• US Business Inventories rose 0.2% in June, as Sales gained marginally, thus keeping the Inventory-to-Sales Ratio at 1.36.

• The Energy Information Administration (EIA) reported that for weekending July 9th, US crude oil inventory declined 7.2 million barrels, while Distillates declined 1.1 million barrels.

• The Mortgage Bankers Association (MBA) reported that for weekending July 9th, its MBA Mortgage Applications Survey Index declined 5.1% to 1012.1. The Purchase Index declined to 353.0. The Refinance Index declined to 4845.8. The 30-year fixed rate mortgages declined to 6.13% - a new record low. 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.

• UAL, the parent of United Airlines lost 10.58% after United announced that it might have to file for bankruptcy protection if it doesn't cut costs.

• Crude oil prices rose today based on last week's US crude inventory stockpile.

• Network Appliance gained 27.66% after reporting a fiscal Q1 profit and a rise in revenue.

• Imclone Systems gained 7.28% after the company announced it has filed a lawsuit against former CEO and co-founder, Samuel Waksal, for destroying important documents that could have kept the company in a clear relating to the current SEC investigations.

• AOL Time Warner rose 2.31% despite stating today that its online unit might have overstated revenue.

• 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.

• 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.

<---D746--->

<---D745--->

MARKET SUMMARY FOR TUESDAY AUGUST 13TH. 2002

DOW INDUSTRIAL: 8482.39 = -206.50

NASDAQ: 1269.28 = -37.56

S & P 500: 884.21 = -19.59

MOST ACTIVE STOCKS & SECTORS

The markets closed lower after the Federal Reserve left interest rates unchanged. The NASDAQ, which slumped after the Feds announcement, had a moderate trading volume of over 1.641 billion, and the NYSE also had a moderate trading volume of over 1.295 billion shares. Gainers included: Allied Waste, America West Holdings, AMR, Auburn National Bancorp, Concord EFS, Consolidated Mercantile, CSK Automotive, Deere & Co, Delta Air Lines, Dendreon Corp, Eagle Supply Group, EOTT Energy, Federal Trust Corp, Fleetwood Enterprises, Flowers Foods, Hewitt Associates, IBM, Image Sensing, IMC Global, Inamed Corp, Industrial Distribution Group, Lehman Corning, Limited Brands, Lion Biosciences, Martha Stewart Living Omnimedia, McAfee.Com, Media Arts, Merrill Lynch Liberty Media, Metris Companies, Nikohn Gaming, OSI Systems, Potash Corp, Qualcomm, RazorFish, School Specialty, Tefron Ltd, Terra Industries, Tessco Technology, Tiffany & Co, TJX Companies, TRC Companies, Wal-Mart, and Williams Sonoma.

MAIN REASONS FOR ACTIVITY

• The Richmond Fed Manufacturing Survey improved in July to 4.0.

• The Bank of Tokyo-Mitsubishi US Chain Stores Sales Index for weekending August 5th. declined 0.5%.

• US Retail Sales rose only 1.2% in July, which was below the 1.4% growth seen the month before.

• The Federal Reserve FOMC decided to hold interest rates steady at......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.

• Six Flags lost 57.34% today after reporting poor earnings.

• Martha Stewart Living Omnimedia gained 0.43% despite a Financial Times report that the company founder, chairman, and CEO, Martha Stewart, was tipped off by an assistant to her broker about Imclone Systems' failure to get an FDA approval for its drug. Imclone Systems closed lower today.

• Cutter & Buck lost 14.43% after announcing that it had accounting irregularities in 2000 and 2001. Cutter & Buck also announced the resignation of its CFO, and plans to restate results in the affected years.

• Drug maker Andrx lost 11.92% after announcing that an employee might have altered its books and overstated its accounts receivables from 1999 to June 2002. Raymond James downgraded the stock to "market performer", due to the accounting problems.

• Tiffany & Co. gained 7.56% after reporting fiscal Q2 earnings of 22 cents a share, in line with Wall Street estimates, as sales rose to $374.4 million. Tiffany was optimistic about the future as Japanese and US sales continue to improve.

• TJX Companies, Operators of TJ Maxx stores, gained 4.17% after reporting fiscal Q2 earnings that rose 16% to 24 cents a share, 1 cent a share better than Wall Street estimates, as revenue rose 11% to $2.8 billion.

• Wal-Mart gained 0.62% after reporting fiscal Q2 earnings that rose 26% to 46 cents a share, 1 cent a share better than First Call estimates, as sales rose 13% to $59.69 billion. Wal-mart reported that in the same period, same-store sales rose 6.4%.

• J.C. Penney & Co. lost 3.58% after reporting a fiscal Q2 loss of 5 cents a share, 5 cents a share less losses than First Call estimates, as sales declined by about $10 million to $7.20 billion. J.C. Penney's same-store sales for the period declined 2.4%.

• Deere & Co. gained 9.95% after reporting fiscal Q3 earnings of 61  cents a share, 26 cents a share better than Wall Street estimates, as revenue rose to $3.96 billion - thanks to strong European sales, and Agricultural products sales increase of 41%.

• AMR, the parent of the world's largest airline, American Airlines, gained 4.55% after announcing plans to cut 7,000 jobs so as to save about $1.1 billion a year, and compete against lower cost airlines.

• 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.

• Pharmaceutical industry staffing company, PDI, lost 49.61% after reporting dismal fiscal Q2 earnings, and its contract with Evista seems to be in trouble.

• Dendreon gained 34.42% after Genentech agreed to pay as much as $110 million to use its gene to co-develop Cancer drugs.

• Mikohn Gaming gained 22.09% after its board approved a $2 million common stocks buyback plan. The company also announced the appointment of a new financial chief.

• Siebel Systems closed lower despite announcing that its swap deals (existing licenses) more than doubled in fiscal Q2 to represent 18% of total software sales.

• RazorFish gained 22.81% after reporting a fiscal Q2 net profit of 7 cents a share, despite a more than half decline in profits over the year to $10.5 million.

• McAfee.Com gained 15.97% after Network Associates sweetened its offer to acquire the remaining 25% of McAfee it doesn't own to $209 million. Network Associates closed lower.

• AFTER CLOSE: Applied Materials is still losing in after hours trading despite reporting fiscal Q3 earnings of 7 cents a share, 2 cents a share better than First Call estimates, as revenue also beat at $1.46 billion.

• AFTER CLOSE: Network Appliance is gaining in after hours trading after the network storage company reported fiscal Q1 pro forma earnings of 5 cents a share, 1 cent a share better than First Call estimates, on revenue of $207 million. Network Appliance also named Steve Gomo as its new CFO.

• AFTER CLOSE: Interpublic is still losing in after hours trading after reporting fiscal Q2 earnings of 31 cents a share, a whopping 8 cents a share short of Wall Street estimates. Interpublic also expects fiscal Q3 earnings to be 5% to 7% below last years, and the company announced that it is restating its financial results from 1997 to the present.

• 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.

<---D744--->

MARKET SUMMARY FOR MONDAY AUGUST 12TH. 2002

DOW INDUSTRIAL: 8688.89 = -56.56

NASDAQ: 1306.84 = +0.72

S & P 500: 903.80 = -4.84

MOST ACTIVE STOCKS & SECTORS

The markets closed mixed as the NASDAQ posted a fractional gain. The NASDAQ, which managed a positive gain in the last 15 minutes of trading, had a light trading volume of over 1.060 billion, and the NYSE also had a light trading volume of over 1.025 billion shares. Gainers included: Allegheny Energy, Amazon.Com, Amgen, AMN Healthcare Services, AT&T, Best Buy, Broadcom, Calpine Corp, Centennial Communications, Cisco Systems, Comcast, Concord EFS, Dell, Diedrich Coffee, Dover Motorsports, El Paso Corp, E*Trade Group, FindWhat.Com, Fremont General, Genzyme Biosurgery, Great Atlantic & Pacific Tea Company, Hanover Compressor, Imclone Systems, KLA-Tencor, Life Financial, Liquidmetal Technology, Lucent Technologies, Martha Stewart Living Omnimedia, McDermott International, Metris Companies, Microsoft, Microstrategy, Millennium Cell, NASSDA Corp, Nextel Communications, Noble Corp, Northwestern Corp, NRG Energy, Oceaneering International, Odd Jobs Store, Osteotech, Overture Services, Pfizer, RazorFish, Regenerative Technologies, Revlon, Rowan Corp, Scansoft, Sirius Satellite Radio, Speedfarm-IPEC, Tyco International, Vivendi Environment, Westwood Holdings, Xcell Energy, and Yahoo!

MAIN REASONS FOR ACTIVITY

• The Kansas City Fed Manufacturing Survey improved in July to 9.0. 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.

• Airline stocks closed lower after the 6th. largest US airline, US Airways, filed for chapter 11 bankruptcy protection late Sunday. The filing not only clears the way for the airline to received some emergency funds so as to keep operating, but clears the way for other airlines to follow suit.

• Interest rates sensitive Banking and financial stocks closed lower on the eve of the Federal Reserve FOMC meeting tomorrow.

• Speedfarm-IPEC gained 65.61% after Novellus Systems agreed to acquire it for $220 million. Novellus Systems closed lower.

• Imclone Systems gained 9.26% after its former CEO and co-founder, Samuel Waksal, pleaded not guilty today to insider trading charges.

• El Paso Corp. gained 4.89% after filing with the SEC for the IPO of its El Paso Energy Management LLC.

• Comcast and AT&T both gained as they announced plans to swap about $11.8 billion in debt as part of the planned merger between AT&T Broadband and Comcast.

• Applied Materials lost 2.02% after Prudential Securities cut its price target on the stock.

• E*Trade Group gained 7.06% after its CEO and CFO submitted their financial statements under oath to the SEC.

• 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.

• Crude prices and oil related shares gained due to the increasing tension between the US and Iraq.

• Scansoft gained 17.58% after reaching an agreement with representatives of L&H USA so as to buyback $7 million of its shares owned by L&H.

• Centennial Communications gained 17.28% after the company stated it is not parting with its Cable TV properties.

• AFTER CLOSE: The website of UK based Financial Times, FT.Com, is reporting that a reliable source has confirmed that Martha Stewart was tipped off before selling her shares in Imclone Systems.

• 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.

<---D743--->

MARKET SUMMARY FOR FRIDAY AUGUST 9TH. 2002

DOW INDUSTRIAL: 8745.45 = +33.43

NASDAQ: 1306.12 = -10.40

S & P 500: 908.64 = +3.18

MOST ACTIVE STOCKS & SECTORS

The markets closed mixed as the Dow rallied for the fourth day in a row, while the NASDAQ closed lower. The NASDAQ, which went into negative territory again with 30 minutes left in trading, had a relatively moderate Friday trading volume of over 1.329 billion, while the NYSE also had a moderate trading volume of over 1.248 billion shares. Gainers included: Alkermes, Anatares Pharmaceuticals, AT&T, Avaya, Best Buy, Calpine Corp, Cell Therapeutics, Cross Country, Dell, Dendreon, Disney, eBookers Plc, El Paso Corp, ExxonMobil, Fischer Imaging Corp, G-III Apparel, GE, Goldman Sachs Group, Holiday RV, Home Depot, IBM, Lipids Sciences, Liquidmetal Technology, McDonalds, Merck & Co, Millennium Pharmaceuticals, Modern Times Group, Motorola, Nextel Communications, Nokia, Orbital Sciences, Pfizer, RemedyTemp, Sony Corp, Sprint PCS Group, Sun Microsystems, Switchboard, Texas Instruments, Tyco International, US Home Systems, US Labs, Veritas Software, Wal-Mart, Warren Bancorp, and Westwood.

MAIN REASONS FOR ACTIVITY

• WEEKEND NEWS: US Airways filed for chapter 11 bankruptcy protection late Sunday.

• US Q2 2002 non-farm Productivity Output rose 0.3%. Labor Productivity rose 8.3%, while Unit Labor Costs rose 2.4%. 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.

• Alkermes gained 24.39% after the UK regulators approved its sustained release Schizophrenia drug, Risperdal Consta™. Johnson & Johnson, which also has a hand in the drug, lost 0.11%.

• Best Buy gained 8.75% despite getting a downgrade from CIBC World Markets, Salomon Smith Barney, and Bear Stearns. Best Buy warned about its results yesterday.

• US Labs gained 46.84% after France's Bureau Veritas SA. agreed to acquire it for $83 million in cash so as to extend its presence in North America. In a separate development, US Labs reported fiscal Q2 net income of 20 cents a share.

• Warren Bancorp gained 35.56% after Banknorth agreed to acquire the Massachusetts bank holding company for $122.6 million. Banknorth closed lower.

• Cross Country, the Nurse staffing company which reported dismal results on Wednesday, gained 14.38% after Jane Montgomery Scott initiated coverage of it with a "buy" recommendation. Salomon Smith Barney however, downgraded it to a "market performer".

• The Goldman Sachs Group gained 1.55% after Moody's Investor Services upgraded its credit rating.

• AT&T gained, but Lucent Technologies lost after both agreed to settle a class action suit for $300 million. The lawsuit was about consumer leased telephones and calling cards. Lucent announced it will take a fiscal Q3 charge of $162 million in relation to the settlement, while AT&T is to take a $130 million charge in fiscal Q2.

• 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.

• Orbital Sciences gained 26.21% after winning a $22 million NASA engineering and support services contract for Hubble Space Telescope.

• Westwood gained 74.02% after L-3 Communications agreed to acquire it for $22 million in cash - an 80% premium price over Thursday's closing price. L-3 Communications lost 0.60%.

• OpenTV lost 33.85% after stating that it won't see the revenue growth it was expecting in the second half.

• Dendreon gained 45.0% after announcing that its Prostrate Cancer drug, Provenge™, showed significant promise in Phase III clinical trials.

• 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

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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 8TH. 2002

DOW INDUSTRIAL: 8712.02 = +255.87

NASDAQ: 1316.52 = +35.62

S & P 500: 905.46 = +28.69

MOST ACTIVE STOCKS & SECTORS

The markets rallied for the third day in a row on good economic data, and an IMF loan to Brazil. The NASDAQ, which rallied in the last 3 hour, had a moderate trading volume of over 1.538 billion, while the NYSE also had a moderate trading volume of over 1.632 billion shares. Gainers included: AES Corp, Amgen, AOL Time Warner, Applied Materials, AT&T, AT&T Wireless, Banco Bradesco, Brasil Telecom, Brass Eagle, Broadcom, Brocade Communications, Charter Communications, China Petroleum, Cisco Systems, Citigroup, Dell, Delta Petroleum, EMC Corp, Expedia, ExxonMobil, FleetBoston Financial, Flextronics International, GE, Inrange Technologies, Intel, JDS Uniphase, JP Morgan Chase & Co, Kforce, KLA-Tencor, McDermott International, Microsoft, Motorola, Nextel Communications, Northwestern Corp, Oracle, Petroleo Brasil SA, Sadia SA, Sun Microsystems, Telemig Celular Part. SA, Texas Instruments, Urban Outfitters, Wal-Mart, and Xilinx.

MAIN REASONS FOR ACTIVITY

• US Chain Store Sales rose a weaker than expected 2.6% in July.

• US Producer Price Index (PPI), a good measure of producer inflation, declined 0.2% in July. The Core PPI, which excludes energy, declined 0.3%.

• US Jobless Claims for weekending August 3rd. declined 15,000 to 376,000. The 4-week moving average declined 7,750 to 379,000. This data shows that the Federal Reserve FOMC will not be concerned about inflation when they meet next Tuesday, and probably lower interest rates. 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.

• Worldcom stated today that it has discovered a further $3.3 billion in accounting errors - that puts the total above $7 billion.

• The markets rallied after the IMF loaned $30 billion to Brazil so as to help its ailing economy.

• Banking stocks like Citigroup and JP Morgan Chase & Co, gained on the IMF loan to Brazil. Brazilian ADRs also gained on the news.

• AON lost a further 1.15% today, after losing over 30% yesterday on a Moody's downgrade and SEC investigation.

• Microsoft gained after agreeing to a 20 year government monitor of its online units so as to settle customers complaints on its security and privacy standards.

• Best Buy lost 36.53% and took the sector lower after warning about its earnings.

• 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.

• Univision Communications lost 8.81% today after reporting dismal earnings late yesterday.

• Charter Communications gained 12.40% after an SEC filing prompted speculation that its founder, and co-founder of Microsoft, Paul Allen, might take Charter, the 6th largest US cable operator, private.

• Urban Outfitters gained 17.98% after raising its fiscal Q2 outlook.

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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 WEDNESDAY AUGUST 7TH. 2002

DOW INDUSTRIAL: 8456.19 = +182.06

NASDAQ: 1280.90 = +21.35

S & P 500: 876.77 = +17.20

MOST ACTIVE STOCKS & SECTORS

The markets rallied for the second day in a row. The NASDAQ, which rallied in the last one hour, had a moderate trading volume of over 1.578 billion, while the NYSE also had a moderate trading volume of over 1.473 billion shares. Gainers included: Altera, Amgen, AOL Time Warner, Applied Materials, Cisco Systems, Citigroup, Coca Cola, Comcast, Dell, EMC Corp, ExxonMobil, Flextronics International, GE, Gilead Sciences, Hewlett Packard, Home Depot, Intel, Interpubluic, JDS Uniphase, Johnson & Johnson, JP Morgan Chase & Co, Liberty Media, Metro-Goldwyn-Mayer (MGM), Micron Tech, Microsoft, Motorola, Nextel Communications, Novellus Systems, Oracle, Pfizer, Sun Microsystems, Texas Instruments, TiVo, and Wal-Mart.

MAIN REASONS FOR ACTIVITY

• US Wholesale Sales rose 0.6% in June to $229.5 Billion, as Inventories rose 0.3% to $281.9 billion, thus forcing the Inventory-to-Sales Ratio to be unchanged at 1.23.

• The Energy Information Agency (EIA) reported that for weekending August 2nd, US crude oil inventories declined 2.1 million barrels, as Distillates rose 700,0000 barrels.

• The Mortgage Bankers Association (MBA) reported that its MBA Mortgage Applications Survey Index for weekending August 2nd. rose 6.2% to 1066.9. The Purchase Index rose to 374.0. The Refinance Index rose to 5097.3. The 30-year fixed rate mortgage declined to 6.17%.

• US Consumer Credit rose to $8.4 billion in June, due to revolving line of credit (credit card and auto finance credit).

• US Export Prices, excluding agriculture, rose 0.2% in July. US Import Prices, excluding oil, was unchanged 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.

• AOL Time Warner gained 9.09% despite an EMI Group Plc. lawsuit against it on music copyrights infringement.

• Citigroup gained 3.68% after stating that it will start expensing its stock options starting this January.

• Flextronics International gained 3.65% after a Swedish TV station reported that the company will cut 527 jobs in Sweden.

• Cisco Systems gained 7.62% today and led a late market rally after reporting strong earnings late yesterday.

• TMP Worldwide lost 32.47% today after reporting dismal earnings late yesterday.

• Gilead Sciences gained 3.05% after an FDA advisory panel recommended the approval of its Hepatitis B drug, Adefovir™.

• TiVo gained 29.31% after announcing that its revenue in fiscal Q2 will be 2 times the estimates, due to a recent major alliance.

• 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.

• Insurer AON lost 30.33% after reporting fiscal Q2 results that broke even. On the downside, Moody's Investor Services downgraded its debt to "Baa1", and the company announced that the SEC is questioning it about - you guess it! - its accounting practices.

• Cross Country lost 45.25% and took nursing stocks lower after reporting disappointing fiscal Q2 results, and lowered its fiscal Q3 outlook.

• Verisign lost 10.03% after stating that the Federal Trade Commission (FTC) is investigating its domain business marketing practices.

• AFTER CLOSE: Protein Design Labs is still losing in after hours trading after reporting fiscal Q2 loss of 1 cent a share, in line with First Call estimates.

• AFTER CLOSE: Univision Communications is still losing in after hours trading after reporting fiscal Q2 earnings that were lower, on revenue that rose due to the World Cup.

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