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THE "DAILY BREAD" FOR THE MARKET

 

Daily Morning Insights on the Market

<---D350--->

MARKET SUMMARY FOR TUESDAY JANUARY 2ND. 2001


  DOW INDUSTRIAL: 10646.15  = -140.70

NASDAQ: 2291.86  = -178.66

S & P 500: 1283.27  = -37.01

MOST ACTIVE STOCKS & SECTORS



The markets closed lower on the first trading day of year 2001. Technology stocks sustained heavy losses on earnings concerns. Today's economic data wasn't of comfort to investors either.  The NASDAQ had a heavy trading volume of over 1.938 billion shares. Gainers included: Airgas inc, Applied Materials, AT&T, Cohesant Technology, Collagenex, Collateral Therapeutics, Costco Wholesale, Dell, Federal Mogul, Glia Technology, Greg Manning, Grupo IMSA, IBP inc, Integrated Measurement System, Intel, Interlinq, Interphase Corp, Intertrust Technology, Manatron inc, McMoran Exploration, Metrologic Instruments, Neff Corp, N-Viro International, Pfizer, Philip Morris, SBC Communications, Smartdisk, Sola International, Superior Telecom, Telekom Austria, Ultima Software, Wal-mart, Worldcom, Xerox Corp, and Xybernaut Corp.

MAIN REASONS FOR ACTIVITY

  • The National Association of Purchasing Managers (NAPM) reported that its NAPM Index dropped to 43.7  in December, well below what economists expected, and the lowest levels since 1991 - Any point above 50 is an expansion. The Prices Paid, Supplier Deliveries, and New Orders Indices all closed higher, while New Orders, Production, Backlog of Orders, Inventories, Employment, and Imports indices all closed lower. What does this mean? It shows the economy is slowing, but not to a recession as most have been claiming. 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.
  • SPECIAL ANNOUNCEMENT: Due to family medical problems, we have put our business operations up for sale with WebMergers.Com. We can also be found at BizBuySell.Com Online Properties unit, a new service run with WebMergers.Com. We are a family run operation that owns this web portal. The UK and Ireland portal will be in beta testing hopefully before the end of November. We also own over 70 other domain names of influential financial services companies we acquired to set up a financial complaint site (it is legal to use these names to set up a complaint site, but not to resell to these companies in hopes of making a profit). To view the domain names, click here. Please pass the word around about this announcement. We will miss you all. We can be contacted by visiting Contact Information page.
  • AT&T gained 5.80% after announcing that it will raise cable services prices 4.8% on the average in February. AT&T also announced it has completed the transfer of cable assets with Comcast. Comcast closed lower.
  • Technology, Internet related and storage companies Analog Devices, Inktomi, EMC Corp, Veritas Software, and Network Appliance sustained heavy losses due to downgrades from Robertson Stephens on earnings concerns. Inktomi was also downgraded by Henry Blodget of Merrill Lynch. These actions took down Internet and network related stocks.
  • Apple Computer closed unchanged despite announcing price cuts on its products up to $1000.
  • US Crude Oil prices gained 46 cents a barrel on the NYMEX to close at $27.21/barrel after leading OPEC producer Saudi Arabia called on other cartel members to cut production so as to prop sliding oil prices.
  • US 30 year Treasury Notes yields dropped as funds rotated to the bond market and bided prices up.
  • GE lost 8.74% on news that the US Government is investigating its lucrative Aircraft Engines due to its break up problems.
  • AFTER CLOSE: Integrated Measurement Systems, which closed up 10.24% in regular trading, is losing in after hours trading after issuing an earnings warning for the current fiscal quarter.
  • AFTER CLOSE: Efficient Networks is extending its losses in after hours trading after announcing that its fiscal Q2 revenues will be about $100 million to $102 million short of Wall Street estimates.
  • NEW SERVICE: Our United Kingdom and Ireland subsidiary BusinessJeeves UK & Ireland. decided to start covering the London Stock Exchange TODAY January 2nd. 2001. We are confident, the quality of our content will keep you coming back. Be advised, this is a late edition daily column.
  • 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

  • We expect the markets to open the next year on a high note. We do expect stocks to struggle the most of January until the Federal Reserve action at the end of the month. By the way, NO! WE ARE NOT YET IN A RECESSION.
  • Be on the lookout for more technology stocks rally and stock buybacks from technology and Internet powerhouses like AOL, Ariba, Inktomi, Microsoft, Nortel Networks, PMC-Sierra, Qualcomm, Yahoo!, etc.
  • BARGAINS ANYONE?
  • REITERATION: The battered Technology, Internet, and Biotechnology stocks ARE very attractive now. Non-PC chip makers, and networking gear companies especially. We are still holding our picks though. Give us your views on this observation  here.
  • STOCKS TO WATCH NEXT MARKET DAY: Technology Biotechnology, and Internet Infrastructures stocks are a bargain.
  • Check out our Quarterly forecasts for other picks.



NASDAQ:

 Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: 3 Dimensional, Accelerated Networks, Act Networks, Active Power, Advanced Electronic Support Products (AESP), Advanced Power Technology, Akamai Technology, Alamosa PCS, AlpNet, Altera, Alysis Technology, Amdahl, American Medical Systems, Amgen, Amtech Systems, Anaren Microwave, Andover.Net, Apple, Applied Materials, Applied Molecular, Arena Pharmaceuticals, Argonaut Technologies, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Arrowpoint, Art Technology Group, Ask Jeeves, Atherogenics, AudioCodes Ltd., Avanex Corp., Avici Systems, Axent Technology, Be Incorporated, Biospherics, Bruker Daltonic, Calypte Biomedical, Cavion Technology, Cellular Technical, Centillum Communications, Centra Software, Centura Software, Charter Communications, Chordiant Software, Cisco Systems, Clarus Corp., ClearNet Communications, CMGI, Cobalt Networks, Comdisco, Commonwealth Biotechnologies, Compugen, Concurrent Computer, Convergent Group, Copper Mountain Networks, Corio, Corvis, Covad Communications, Cyber-Care, Cygnus, Cytogen Pharmaceutical, Dallas Semiconductor, Decode Genetics, Dell, DeltaGen, Disc, Discovery Partners International, Dyax, ebay, Ecogen, Efficient Networks, Elan Corp. PLC, Emerge Interactive, Entravision Communications, Epicor Software, E-piphany, ePlus, Equinix, Ericsson, Esperion Therapeutics, EuroWeb, Excite@Home, EXE Technologies, Exfo Electro-Optical Engineering, Evolve Software, Evolving Systems, Finisar, Floware Wireless, Foundry Networks, FreeMarkets.Com, Genaissance Pharmaceuticals, Genzyme Molecular Oncology, GeoWorks, Giganet Wireless, Gilead Sciences, Glenayre Technologies, GRIC Communications, Hytek Microsystems, iBasis, II-VI inc., Ilex Oncology, Illumina, Immunex, Impath, Impsat Corp., Incyte Genomics, Informix, Infosys Technologies, Inktomi, Inspire Pharmaceuticals, inSilicon, Integrated Telecom Express, Intel, Intermedia Communications, Internet Capital Group, ISTA Pharmaceuticals, JDS Uniphase, Keryx Biopharmaceuticals, Juniper Networks, Kana Communications, Large Scale Biology, Lattice Semiconductor, Legato Systems, Liberate Technologies, LifeMinders, Linear Technology, Lion BioSciences AG, Looksmart, Luminex, McData, McLeodUSA, The Medicines, Metasolv Software, Methode Electronics, Metricom, Metrix One, Metron Technology N.V., Microsoft, National Security, Neoforma.Com, Net2Phone, NetSilicon, Netsolve, Network Commerce, Network Computing Devices, New Tel, Neurobiological, Nhancement Technology, Niku Corp, Novellus System, Numerical Technologies, Omnivision Technology, ONI Systems, Onvia.Com, OpNet Technologies, Optelecom, Opus360, Oracle, Pac-West Telecomm, Paging Network, Pain Therapeutics, Palm, Panja, Peco II, Pegasystem, Pemstar, PFS Web, Phone.Com, PMC-Sierra, Portal Software, Precis Software, Qualcomm, Qualstar, Quantum Effect Devices, Redback Networks, Red Hat, Regenerate Technologies, Repeater Technologies, Resonate, RiverDeep Group Plc., Robocom, Rosseta Inpharmatics, Saflink, Sage, Sanchez Computer Associates, SDL inc., Sequenom, Silicom Ltd., Siliconix, Smith Micro Software, Societe Europeene Communication S.A., SonicWall, Sonus Networks, Stanford MicroDevices, StorageNetworks, Stem Cells, Sun Microsystems, Sunrise Telecom, Support.Com, Sybase, Sycamore Networks, Synaptic Pharmaceuticals, Talarian, Target Genetics, TCSI, Tegal Corp., Telecommunications Systems, Telik, Telular Corp., Terra Networks SA, TransGenomic, Trega Biosciences, Tripath Technology, TriTel, Triton Network Systems, Turnstone System, Tyler Technologies, UTStarcom, Va Linux, Variagenics, Venture Catalyst, Versata, Versicor, Vertel Corp., ViaNet.Works, Virage, Vitesse Semiconductor, V One Corp., WebMethods, Webex, Witness System, WJ Communications, WorldCom, Xicor, Xilinx, Yahoo! and Zebra Technologies.

NYSE:

 Telecommunications, Retailing, Utilities, Banking, and Technology stocks like: 3Com, Aetna, Agilent Technologies, Alcatel, AMD, AOL, American Express, Analog Devices, Applied Biosystems, AT&T, AT&T Wireless Group, Bank of America, Bank One, Bausch & Lomb, Bell Atlantic, Benchmark Electronics, BP Amoco, British Telecom (BT), Cable & Wireless, C&D Technology, Celestica, Celera Genomics, Charles Schwab, Chase, Check Point, Chevron, Cigna, Citigroup, Compaq, Computer Associates, Convergys, CTS Corp., Dominion Resources, Donaldson Lufkin, Dow Chemical, Dot Hill Systems, E.I. Dupont, El Paso Energy, EMC Corp., Exxon Mobil, Federated Dept. Stores, Fifth Third Bank, FirstStar Bank, GE, GTE, Halliburton, Hewlett Packard, Hitachi, Home Depot,  H Power Corp, IBM, Infineon, JC Penney, John Hancock, Johnson & Johnson, JP Morgan, Kmart, Kroger Co, Legg Mason, Lucent Technologies (LU), Manufacturer's Services Ltd., Medicis Pharmaceuticals, Merck & co., Merrill Lynch, Micron Technology, Morgan Stanley Dean Witter, Motorola, National Semiconductor, Newbridge Network, Nortel Networks, PE Corp, Pfizer, Philip Morris, Price Communications, Provident Bank, Prudential, Safeguard Scientifics, SBC Communications, Schering-Plough, Schlumberger, Silverline Technology, Sprint, Sprint PCS, STMicroelectron, Sungard Data System, Texas Instruments, Transocean Sedco Forex, Tyco International, Unisys, Viasystems Group, Videsh Sanchar Nigam Ltd, Vishay Intertechnology, Wal-Mart, Warner Lambert, Wells Fargo, Xerox, and ZDNet will do well.

 

<---D349--->

MARKET SUMMARY FOR FRIDAY DECEMBER 29TH. 2000


  DOW INDUSTRIAL: 10786.85  = -81.91

NASDAQ: 2470.52  = -87.24

S & P 500: 1320.28  = -13.94

MOST ACTIVE STOCKS & SECTORS



The markets closed lower on the last trading for year 2000. Technology stocks were under pressure as investors sold stocks at a loss to take tax shelters.  The NASDAQ had a heavy trading volume of over 2.534 billion shares, as the exchange lost 39.2% for year 2000, its biggest yearly lost in its 3 decade history. Gainers included: AAR Corp, Acceptance Insurance, Alpine Group, Apple, Applied Microsystems, AT&T, AT&T Wireless, Berkshire Hathaway, Bigstar Entertainment, Bingham Financial, Cendent Corp, CKE Restaurants, Conseco, Covad Communications Group, Creative Host Services, DLJ Direct, Edition International, Escalon Medical Group, Excite@Home, FashionMall.Com, Federated Department Stores, Finova Group, Geoworks Corp, Giga Information Group, GP Strategies Corp, Grill Concepts, Ha-Lo Industries, InfoSpace, Interland, Intermedia Communications, Keithley Instruments, Kmart, Lucent Technologies, Net 1 Security, Network Associates, Network Engines, Nortel Networks, Omega Healthcare, Pfizer, PG&E, RF Monolithics, Rite Aid, Sheldahl Co, Sprint PCS Group, Standard Motor Products, Teledyne Corp, Union Pacific Corp, Vertel Corp, Vitro S.A., Wal-mart, Weblink Wireless, Worldcom, and WR Grace & Co.

MAIN REASONS FOR ACTIVITY

  • WEEKEND NEWS: Tyson Foods announced on Monday (New Year's day) that it is paying $3.2 billion, or $30/share in cash and stocks to acquire the world's largest beef producer IBP.
  • WEEKEND NEWS: DaimlerChrysler CEO Juergen Schrempp told a German magazine that it will take 2 to 4 years to restructure its US Chrysler division. DaimlerChrysler closed up 3% on Friday.
  • The The New York Purchasing Managers Association reported that its New York PMI Index for December to 289.0 from November's 291.5 levels. New York City area business activity slowed for the first time since January 1999.
  • Economy.Com reported that its Online Help Wanted Index, a good measure of white collar employment activity, declined to 115.6 for the week ending December 23rd. The 4-week and 12-week moving averages all declined.
  • US Help Wanted Index for November eased 4 points to 75. East South Central US saw a rise, Pacific and Mid Atlantic held steady, while the rest of the country declined.
  • The Chicago Purchasing Manager's PMI Index rose 3 points in December to 44.7 - Any point above 50 is an expansion. The Production index rose to 50.8, New Orders rose to 41.6, Prices Paid index rose to 61.0, and Employment rose to 44.9. Order Backlogs dropped to 32.2, Inventories dropped to 36.8, and Supplier Deliveries dropped to 49.2. What does this mean? It shows the economy is slowing, but not to a recession as most have been claiming. 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.
  • SPECIAL ANNOUNCEMENT: Due to family medical problems, we have put our business operations up for sale with WebMergers.Com. We can also be found at BizBuySell.Com Online Properties unit, a new service run with WebMergers.Com. We are a family run operation that owns this web portal. The UK and Ireland portal will be in beta testing hopefully before the end of November. We also own over 70 other domain names of influential financial services companies we acquired to set up a financial complaint site (it is legal to use these names to set up a complaint site, but not to resell to these companies in hopes of making a profit). To view the domain names, click here. Please pass the word around about this announcement. We will miss you all. We can be contacted by visiting Contact Information page.
  • FashionMall.Com gained 59.04% on news that GenesisIntermedia is offering $7/share for the company. FashionMall.Com closed up at 4 1/8, while GenesisIntermedia lost.
  • Weblink Wireless gained 71.88% on news that it expects funding that will take it through year 2001.
  • Sprint PCS Group gained 4.47% after Raymond James upgraded it to a "strong buy" recommendation.
  • Keithley Instruments gained 14.26% after reiterating its fiscal 2001 outlook.
  • Web hosting stocks did very well.
  • Escalon Medical gained 10.34% after the FDA approved the use of its digital camera to diagnose eye problems.
  • Inktomi and CacheFlow lost 10.90% and 18.99% respectively after Bear Stearns analyst Robert Fagin downgraded these stocks to "attractive" and "neutral" recommendations respectively.
  • Bond prices slumped and pushed yields up, while Crude Oil prices closed lower.
  • BigStar Entertainment gained 33.33% after announcing that it is selling its direct marketing unit Advaya to Expression Engines.
  • Conseco and Finova Group gained 14.67% and 45.45% respectively on news that super investor Warren Buffet's Berkshire Hathaway has bought hundreds of millions of dollars worth of these financial companies high yield (Junk) bonds. Berkshire gained 1.87%.
  • US' 4th largest steel company LTV Corp. announced today that it has filed for chapter 11 bankruptcy protection. LTV Corp closed unchanged.
  • NEW SERVICE: Our United Kingdom and Ireland subsidiary BusinessJeeves UK & Ireland. will start covering the London Stock Exchange the First Saturday in January 2001. Expect the same high quality content like what we provide on this site.
  • 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

  • We expect the markets to open the next year on a high note. Never forget, most of the selling today was for tax shelter purposes. We do expect stocks to struggle the most of January until the Federal Reserve action at the end of the month. By the way, NO! WE ARE NOT YET IN A RECESSION.
  • Be on the lookout for more technology stocks rally and stock buybacks from technology and Internet powerhouses like AOL, Ariba, Inktomi, Microsoft, Nortel Networks, PMC-Sierra, Qualcomm, Yahoo!, etc.
  • BARGAINS ANYONE?
  • REITERATION: The battered Technology, Internet, and Biotechnology stocks ARE very attractive now. Non-PC chip makers, and networking gear companies especially. We are still holding our picks though. Give us your views on this observation  here.
  • STOCKS TO WATCH NEXT MARKET DAY: Technology Biotechnology, and Internet Infrastructures stocks are a bargain.
  • Check out our Quarterly forecasts for other picks.



NASDAQ:

 Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: 3 Dimensional, Accelerated Networks, Act Networks, Active Power, Advanced Electronic Support Products (AESP), Advanced Power Technology, Akamai Technology, Alamosa PCS, AlpNet, Altera, Alysis Technology, Amdahl, American Medical Systems, Amgen, Amtech Systems, Anaren Microwave, Andover.Net, Apple, Applied Materials, Applied Molecular, Arena Pharmaceuticals, Argonaut Technologies, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Arrowpoint, Art Technology Group, Ask Jeeves, Atherogenics, AudioCodes Ltd., Avanex Corp., Avici Systems, Axent Technology, Be Incorporated, Biospherics, Bruker Daltonic, Calypte Biomedical, Cavion Technology, Cellular Technical, Centillum Communications, Centra Software, Centura Software, Charter Communications, Chordiant Software, Cisco Systems, Clarus Corp., ClearNet Communications, CMGI, Cobalt Networks, Comdisco, Commonwealth Biotechnologies, Compugen, Concurrent Computer, Convergent Group, Copper Mountain Networks, Corio, Corvis, Covad Communications, Cyber-Care, Cygnus, Cytogen Pharmaceutical, Dallas Semiconductor, Decode Genetics, Dell, DeltaGen, Disc, Discovery Partners International, Dyax, ebay, Ecogen, Efficient Networks, Elan Corp. PLC, Emerge Interactive, Entravision Communications, Epicor Software, E-piphany, ePlus, Equinix, Ericsson, Esperion Therapeutics, EuroWeb, Excite@Home, EXE Technologies, Exfo Electro-Optical Engineering, Evolve Software, Evolving Systems, Finisar, Floware Wireless, Foundry Networks, FreeMarkets.Com, Genaissance Pharmaceuticals, Genzyme Molecular Oncology, GeoWorks, Giganet Wireless, Gilead Sciences, Glenayre Technologies, GRIC Communications, Hytek Microsystems, iBasis, II-VI inc., Ilex Oncology, Illumina, Immunex, Impath, Impsat Corp., Incyte Genomics, Informix, Infosys Technologies, Inktomi, Inspire Pharmaceuticals, inSilicon, Integrated Telecom Express, Intel, Intermedia Communications, Internet Capital Group, ISTA Pharmaceuticals, JDS Uniphase, Keryx Biopharmaceuticals, Juniper Networks, Kana Communications, Large Scale Biology, Lattice Semiconductor, Legato Systems, Liberate Technologies, LifeMinders, Linear Technology, Lion BioSciences AG, Looksmart, Luminex, McData, McLeodUSA, The Medicines, Metasolv Software, Methode Electronics, Metricom, Metrix One, Metron Technology N.V., Microsoft, National Security, Neoforma.Com, Net2Phone, NetSilicon, Netsolve, Network Commerce, Network Computing Devices, New Tel, Neurobiological, Nhancement Technology, Niku Corp, Novellus System, Numerical Technologies, Omnivision Technology, ONI Systems, Onvia.Com, OpNet Technologies, Optelecom, Opus360, Oracle, Pac-West Telecomm, Paging Network, Pain Therapeutics, Palm, Panja, Peco II, Pegasystem, Pemstar, PFS Web, Phone.Com, PMC-Sierra, Portal Software, Precis Software, Qualcomm, Qualstar, Quantum Effect Devices, Redback Networks, Red Hat, Regenerate Technologies, Repeater Technologies, Resonate, RiverDeep Group Plc., Robocom, Rosseta Inpharmatics, Saflink, Sage, Sanchez Computer Associates, SDL inc., Sequenom, Silicom Ltd., Siliconix, Smith Micro Software, Societe Europeene Communication S.A., SonicWall, Sonus Networks, Stanford MicroDevices, StorageNetworks, Stem Cells, Sun Microsystems, Sunrise Telecom, Support.Com, Sybase, Sycamore Networks, Synaptic Pharmaceuticals, Talarian, Target Genetics, TCSI, Tegal Corp., Telecommunications Systems, Telik, Telular Corp., Terra Networks SA, TransGenomic, Trega Biosciences, Tripath Technology, TriTel, Triton Network Systems, Turnstone System, Tyler Technologies, UTStarcom, Va Linux, Variagenics, Venture Catalyst, Versata, Versicor, Vertel Corp., ViaNet.Works, Virage, Vitesse Semiconductor, V One Corp., WebMethods, Webex, Witness System, WJ Communications, WorldCom, Xicor, Xilinx, Yahoo! and Zebra Technologies.

NYSE:

 Telecommunications, Retailing, Utilities, Banking, and Technology stocks like: 3Com, Aetna, Agilent Technologies, Alcatel, AMD, AOL, American Express, Analog Devices, Applied Biosystems, AT&T, AT&T Wireless Group, Bank of America, Bank One, Bausch & Lomb, Bell Atlantic, Benchmark Electronics, BP Amoco, British Telecom (BT), Cable & Wireless, C&D Technology, Celestica, Celera Genomics, Charles Schwab, Chase, Check Point, Chevron, Cigna, Citigroup, Compaq, Computer Associates, Convergys, CTS Corp., Dominion Resources, Donaldson Lufkin, Dow Chemical, Dot Hill Systems, E.I. Dupont, El Paso Energy, EMC Corp., Exxon Mobil, Federated Dept. Stores, Fifth Third Bank, FirstStar Bank, GE, GTE, Halliburton, Hewlett Packard, Hitachi, Home Depot,  H Power Corp, IBM, Infineon, JC Penney, John Hancock, Johnson & Johnson, JP Morgan, Kmart, Kroger Co, Legg Mason, Lucent Technologies (LU), Manufacturer's Services Ltd., Medicis Pharmaceuticals, Merck & co., Merrill Lynch, Micron Technology, Morgan Stanley Dean Witter, Motorola, National Semiconductor, Newbridge Network, Nortel Networks, PE Corp, Pfizer, Philip Morris, Price Communications, Provident Bank, Prudential, Safeguard Scientifics, SBC Communications, Schering-Plough, Schlumberger, Silverline Technology, Sprint, Sprint PCS, STMicroelectron, Sungard Data System, Texas Instruments, Transocean Sedco Forex, Tyco International, Unisys, Viasystems Group, Videsh Sanchar Nigam Ltd, Vishay Intertechnology, Wal-Mart, Warner Lambert, Wells Fargo, Xerox, and ZDNet will do well.

 

<---D348--->

MARKET SUMMARY FOR THURSDAY DECEMBER 28TH. 2000


  DOW INDUSTRIAL: 10868.76  = +65.60

NASDAQ: 2557.76  = +18.41

S & P 500: 1334.22  = +5.30

MOST ACTIVE STOCKS & SECTORS



The markets rallied again as bargain hunters went after financial and some technology stocks. The NASDAQ had a heavy trading volume of over 2.194 billion shares after losing all morning gains by noon but recovering to close higher in the last hours of trading. Gainers included: 3Com, 3M, Accrue Software, Airborne Freight Corp., American Express, American Standard Cos., Applied Micro Circuits, Artisoft, AT&T Liberty, Brocade Communications, California Micro Devices, Cambridge Technology, Chase Manhattan, CheckPoint, Chordiant Software, Ciena, Citigroup, Commerce One, Cornell Companies, Corning, EMC Corp, ePlus, Exodus Communications, FedEx, GE, Global Crossing, Home Depot, i2 Technologies, IBM, Information Holdings, Interact Commerce, Jabil Circuits, Johnson & Johnson, Jore Corp, JP Morgan, Juniper Networks, Kaufman & Broad Homes, Kent Electronics, Luby's Cafeterias, Maytag Corp, McAfee.Com, Merck & Co, Merrill Lynch, Nexmed inc, Net Perceptions, Notify Technology, OSI Systems, Oracle, Palm, Pfizer, QRS Corp, Qualcomm, Sense Technology, SmartDisk, Sohu.Com, Time Warner, Tyco International, Tyson Foods, UPS, Venator Group, Wal-mart, Western Gas, Xerox Corp, Yahoo!, and Zamba Corp.

MAIN REASONS FOR ACTIVITY

  • The Conference Board reported that, US Consumer Confidence fell to 128.3 in December. Other indices like Present Situation, Expectations, Jobs and Business Conditions all declined for the month.
  • US Existing Home Sales rose 4.4% in November to 5.22 million units sold, the first monthly gain in 3 months.
  • US Jobless Claims for week ending December 23rd. dropped 23,000 units to 333,000. The 4-week moving average dropped 7,000 units to 341,000.
  • US Crude Oil prices for week ending December 22nd. came in around what Reuters Survey of analysts predicted. The Energy Information Agency (EIA) and the American Petroleum Institute (API) reported drops of 1.3 million and 100,000 barrels respectively. The EIA and API reported that distillates dropped 1.5 million and 1.9 million barrels respectively. 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.
  • SPECIAL ANNOUNCEMENT: Due to family medical problems, we have put our business operations up for sale with WebMergers.Com. We can also be found at BizBuySell.Com Online Properties unit, a new service run with WebMergers.Com. We are a family run operation that owns this web portal. The UK and Ireland portal will be in beta testing hopefully before the end of November. We also own over 70 other domain names of influential financial services companies we acquired to set up a financial complaint site (it is legal to use these names to set up a complaint site, but not to resell to these companies in hopes of making a profit). To view the domain names, click here. Please pass the word around about this announcement. We will miss you all. We can be contacted by visiting Contact Information page.
  • Tyson Foods, the leading poultry producer, gained 1% after increasing its bid for leading meat producer IBP One dollar a share to $27/share in other to ward off a competing offer from Smithfield Foods. IBP and Smithfield closed lower.
  • President Bill Clinton announced that the White House Budget Office is projecting a federal fiscal budget surplus for years 2001 to 2010 of $4.42 trillion, up more than $200 billion from the previous projection. Mr. Clinton also reinstated the desire for the federal debt to be paid up in a decade - a stark contrast to President-elect George W. Bush's planned $1.3 billion tax cut.
  • Lucent Technologies lost 4.11% despite leading the market in trading volume as investors sold lucent stocks at a loss due to tax concerns.
  • Information Holdings gained 21.68% after announcing that it will beat First Call's estimates of its fiscal Q4 earnings.
  • Freight delivery stocks gained after UPS announced plans to hike its rates in February 2001.
  • Union Pacific lost 4.04% after issuing an earnings warning.
  • Montgomery Wards, a unit of GE Capital, announced that it is folding operations due to a tough retail environment, which has caused it to seek bankruptcy protection 2 times in the last 3 years alone. GE gained a fraction.
  • ePlus, a web services company, gained 54.84% after announcing that it will beat First Call's estimates due to higher margins and lower expenses.
  • US Crude Oil prices on the NYME dropped 62 cents to close at $25.85/barrel. Heating Oil fell 4.25 cents to 89.46 cents/gallon.
  • Gold Futures on the New York COMEX lost $3.50 to close at $271.70/ounce.
  • AFTER CLOSE: Net Perceptions, an e-marketing software developer, issued a warning that its losses for the coming quarter will be larger than expected.
  • AFTER CLOSE: Power tool maker Jore Corp. is still gaining in after hours trading after announcing that it will have a record sales quarter.
  • AFTER CLOSE: California Micro Devices issued a warning that it will report lower than expected revenues in this quarter.
  • NEW SERVICE: Our United Kingdom and Ireland subsidiary BusinessJeeves UK & Ireland. will start covering the London Stock Exchange the First Saturday in January 2001. Expect the same high quality content like what we provide on this site.
  • 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

  • Be on the lookout for more technology stocks rally and stock buybacks from technology and Internet powerhouses like AOL, Ariba, Inktomi, Microsoft, Nortel Networks, PMC-Sierra, Qualcomm, Yahoo!, etc.
  • BARGAINS ANYONE?
  • REITERATION: The battered Technology, Internet, and Biotechnology stocks ARE very attractive now. Non-PC chip makers, and networking gear companies especially. We are still holding our picks though. Give us your views on this observation  here.
  • STOCKS TO WATCH NEXT MARKET DAY: Technology Biotechnology, and Internet Infrastructures stocks are a bargain.
  • Check out our Quarterly forecasts for other picks.



NASDAQ:

 Technology, Biotechnology, Telecommunications, and some Internets will gain. Companies like: 3 Dimensional, Accelerated Networks, Act Networks, Active Power, Advanced Electronic Support Products (AESP), Advanced Power Technology, Akamai Technology, Alamosa PCS, AlpNet, Altera, Alysis Technology, Amdahl, American Medical Systems, Amgen, Amtech Systems, Anaren Microwave, Andover.Net, Apple, Applied Materials, Applied Molecular, Arena Pharmaceuticals, Argonaut Technologies, Ariba, Ariad Pharmaceuticals, Ariel Corporation, Arrowpoint, Art Technology Group, Ask Jeeves, Atherogenics, AudioCodes Ltd., Avanex Corp., Avici Systems, Axent Technology, Be Incorporated, Biospherics, Bruker Daltonic, Calypte Biomedical, Cavion Technology, Cellular Technical, Centillum Communications, Centra Software, Centura Software, Charter Communications, Chordiant Software, Cisco Systems, Clarus Corp., ClearNet Communications, CMGI, Cobalt Networks, Comdisco, Commonwealth Biotechnologies, Compugen, Concurrent Computer, Convergent Group, Copper Mountain Networks, Corio, Corvis, Covad Communications, Cyber-Care, Cygnus, Cytogen Pharmaceutical, Dallas Semiconductor, Decode Genetics, Dell, DeltaGen, Disc, Discovery Partners International, Dyax, ebay, Ecogen, Efficient Networks, Elan Corp. PLC, Emerge Interactive, Entravision Communications, Epicor Software, E-piphany, ePlus, Equinix, Ericsson, Esperion Therapeutics, EuroWeb, Excite@Home, EXE Technologies, Exfo Electro-Optical Engineering, Evolve Software, Evolving Systems, Finisar, Floware Wireless, Foundry Networks, FreeMarkets.Com, Genaissance Pharmaceuticals, Genzyme Molecular Oncology, GeoWorks, Giganet Wireless, Gilead Sciences, Glenayre Technologies, GRIC Communications, Hytek Microsystems, iBasis, II-VI inc., Ilex Oncology, Illumina, Immunex, Impath, Impsat Corp., Incyte Genomics, Informix, Infosys Technologies, Inktomi, Inspire Pharmaceuticals, inSilicon, Integrated Telecom Express, Intel, Intermedia Communications, Internet Capital Group, ISTA Pharmaceuticals, JDS Uniphase, Keryx Biopharmaceuticals, Juniper Networks, Kana Communications, Large Scale Biology, Lattice Semiconductor, Legato Systems, Liberate Technologies, LifeMinders, Linear Technology, Lion BioSciences AG, Looksmart, Luminex, McData, McLeodUSA, The Medicines, Metasolv Software, Methode Electronics, Metricom, Metrix One, Metron Technology N.V., Microsoft, National Security, Neoforma.Com, Net2Phone, NetSilicon, Netsolve, Network Commerce, Network Computing Devices, New Tel, Neurobio