THE "DAILY BREAD" FOR THE MARKET

Daily Morning Insights on the Market

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MARKET SUMMARY FOR THURSDAY JULY 26TH. 2001

DOW INDUSTRIAL: 10455.63 = +49.96

NASDAQ: 2022.96 = +38.64

S & P 500: 1202.93 = +12.44

MOST ACTIVE STOCKS & SECTORS

The market rallied for the second day in a row, as investors came in to make it a much broader rally today. The NASDAQ, which rallied in the last 3 hours, had a heavy trading volume of over 1.767 billion shares, while the NYSE had a volume of over 1.216 billion shares traded. Gainers included: Akamai Technologies, Amazon.Com, Applied Materials, Applied Micro Circuits, AOL Time Warner, AT&T, AT&T Wireless, Broadcom, Brocade Communications, Ciena Corp, Cisco Systems, Citigroup, CNET Networks, Compaq, Disney, eBay, EMC Corp, Ericsson, Exodus Communications, ExxonMobil, GM, i2 Technologies, IBM, Intel, JDS Uniphase, Juniper Networks, Lucent Technologies, Micron Technology, Network Commerce, Nokia, Oracle, Peoplesoft, Procter & Gamble, Qualcomm, SBC Communications, Siebel Systems, Sun Microsystems, Texas Instruments, Veritas Software, Viacom, Wal-Mart, Worldcom Group, and Yahoo!

MAIN REASONS FOR ACTIVITY

• The Conference Board reported that its Help Wanted Index, a good measure of blue collar employee demand, dropped to 58 in June.

• Dismal.Com reported that, its Online Help Wanted Index, a good measure of white collar employee demand, dropped to 101.0 in July.

• US Jobless Claims dropped a whopping 51,000 in the week ending July 21st, to 366,000. The 4-week moving average also declined to 409,000.

• US Durable Goods New Orders fell 2% in June. All sectors posted a drop except the Semiconductor sector, which saw a gain.

• US Employment Cost Index rose a modest 0.9% in Q2 2001. Over the year, the index is now up 3.9%. 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.

• Hewlett Packard lost 6.54% after warning that its fiscal Q3 revenue will fall short. Hewlett-Packard also announced plans to cut 6,000 jobs, or 6.5% of workforce.

• Ford Motor Company lost 1.61% after announcing that, it will increase the powers of its Chairman (and a Ford), William Clay Ford, thus reducing the power of its CEO, Jacques Nasser, as it tries to recover from the Firestone tires recall debacle. I guess investors are not too convinced since the Chairman is part Firestone by blood.

• Microsoft lost 1.32% as the government lawyers increase their demand that the software giant shouldn't be allowed a rehearing.

• Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• Amazon.Com gained 7.12% today an SEC filing showed yesterday that AOL Time Warner's $100 million investment in the company also allows it to bid for Amazon so far as it is done in private.

• AFTER CLOSE: Qualcomm is extending its gains in after hours trading after reporting fiscal Q3 earnings that beat First Call estimates by 1 cent a share. Qualcomm's profits dropped 20%, while revenue declined 10%.

• AFTER CLOSE: JDS Uniphase is losing in after hours after reporting heavy fiscal Q4 losses as opposed to the profit Wall Street was expecting. JDS Uniphase, which failed to give guidance on the coming quarter, announced a further 7,000 job cuts and plans to take up to $950 million in charges due to old inventory.

• AFTER CLOSE: Amgen is gaining in after hours trading after reporting fiscal Q2 earnings that beat First Call estimates by 2 cents a share, thanks to the strong performance of its Epogen and Neupogen. Amgen is also confident that the FDA will approve its cancer related drug Aranesp.

• AFTER CLOSE: Verisign is gaining in after hours trading after reporting fiscal Q2 results that beat First Call estimates.

• FORECAST IS UP: Our First and Second quarters of year 2001 is now up. Don't get blinded in these uncertain times, take advantage of the information by visiting our Quarterly forecasts page.

• NEW SERVICE: Now that we have our United Kingdom and Ireland portal BusinessJeeves UK & Ireland, and our Canadian (English) portal BusinessJeeves Canada is up and running. We are confident, the quality of our content will keep you coming back.

• 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, especially technology and Internet shares. Check out our Quarterly forecasts for other picks.

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

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MARKET SUMMARY FOR WEDNESDAY JULY 25TH. 2001

DOW INDUSTRIAL: 10405.67 = +164.55

NASDAQ: 1984.32 = +25.08

S & P 500: 1190.49 = +18.84

MOST ACTIVE STOCKS & SECTORS

The market recovered some of its losses today, thanks to a strong performance in the oil sector. Investors also came off the sidelines to partake as former Federal Reserve chairman, Paul Volker, and former Treasury Secretary, Robert Rubin, made their case before senate hearings today in defence of a strong Dollar, but caution on spending the surplus and the need to help the Euro and the Japanese yen to become stronger. The NASDAQ, which was up and down all day until the last hour rally, had a heavy trading volume of over 1.674 billion shares, while the NYSE had a volume of over 1.255 billion shares traded. Gainers included: Allegiance Telecommunications, Amerada Hess, Applied Materials, AOL Time Warner, AT&T, AT&T Liberty, AT&T Wireless, Calpine Corp, Chevron, Cisco Systems, Dell, Documentum, El Paso Corp, EMC Corp, Ericsson, Exodus Communications, ExxonMobil, Halliburton, Intel, Key Technology, K-Mart, Lucent Technologies, McDonalds Corp, Microsoft, Nextel Communications, Nokia, Nortel Networks, Oracle, Peoplesoft, Peregrine Systems, Pfizer, Precis Software, SBC Communications, Schlumberger, Siebel Systems, Sun Microsystems, Target Stores, Texaco, Texas Instruments, Tyco International, Unocal, Veritas Software, Wal-Mart, and Webex.

MAIN REASONS FOR ACTIVITY

• The Mortgage Bankers Association (MBA) reported that, its MBA Mortgage Applications Index for week ending July 20th. rose 8.3 to 509.2, while the Purchase Index rose 4.7 to 324.9. All indices (Refinance, Fixed Mortgage, and Adjustable Mortgage) rose..

• US Existing Home Sales dropped a slight 0.6% in June to 5.33 million units.

• For week ending July 20th, the Energy Information Agency (EIA) reported that US crude oil inventory increased by 1.4 million barrels, while the American Petroleum Institute (API) saw a decrease of 712,000 barrels. For distillates, the EIA and API saw increases of 1.5 million barrels and 1.395 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.

• Cris Craft closed lower despite the FCC approval that Newscorp can acquire it under the condition that, it doesn't have more than one station per market.

• Peoplesoft gained 12.15% after reporting spectacular earnings yesterday.

• Wal-Mart gained 3.77% after announcing plans to lay off 100 employees and not to feel 300 vacant positions. Wal-Mart also announced that it will bring its online unit much closer to its inhouse operations. Retail stocks generally did good today due to optimism from analysts.

• AT&T gained 3.55% as rumors fly that every cable operator is interested in acquiring its broadband business after the offer from Comcast was rejected.

• AOL Time Warner gained 2.46% after acquiring IPC for $1.6 billion. AOL Time Warner also enjoyed a boost as analysts speculate that it is the likely candidate to end up with AT&T's broadband business.

• Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• Amazon.Com lost on news that its filings with the SEC show that AOL Time Warner's $100 million investment in the company also allows it to bid for Amazon so far as it is done in private.

• Bond prices dropped today after the US government floated $12 billion high yield notes with yields up to 3.97%.

• SBC Communications gained 6.32% after reporting fiscal Q2 profits that rose 11.9% and revenues that rose 3%.

• Agere Systems lost 12.30% after reporting fiscal Q3 losses today.

• Oil services firms were strong today due to their good earnings reports

• Amerada Hess, Texaco, and Unocal gained after reporting earnings today that beat Wall Street estimates. Oil companies generally did good today on news that OPEC will cut production by one million barrels a day in early September.

• AFTER CLOSE: Corning is gaining after reporting its earnings.

• FORECAST IS UP: Our First and Second quarters of year 2001 is now up. Don't get blinded in these uncertain times, take advantage of the information by visiting our Quarterly forecasts page.

• NEW SERVICE: Now that we have our United Kingdom and Ireland portal BusinessJeeves UK & Ireland, and our Canadian (English) portal BusinessJeeves Canada is up and running. We are confident, the quality of our content will keep you coming back.

• 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, especially technology and Internet shares. Check out our Quarterly forecasts for other picks.

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

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MARKET SUMMARY FOR TUESDAY JULY 24TH. 2001

DOW INDUSTRIAL: 10241.12 = -183.30

NASDAQ: 1959.24 = -29.32

S & P 500: 1171.65 = -19.38

MOST ACTIVE STOCKS & SECTORS

The markets took a dive today as earnings warnings, job cuts and other economic factors turn off investors. For the second day, most investors were on the sidelines again watching the earnings season unfold. The NASDAQ, which tried to rally in the last hour, had a light trading volume of over 1.599 billion shares, while the NYSE had a volume of over 1.201 billion shares traded. Gainers included: Bea Systems, Brocade Communications, Cascade Financial Bank, China Petroleum, Ciena, Cisco Systems, CommScope, Compaq, Dell, Digital River, Exodus Communications, First Republic, Honeywell International, InfoSpace, McDonalds Corp, Meridian Gold, Newmont Mining, Nokia, Omnicom Group, Openwave Systems, Oracle, Placer Dome, Revlon, Right Management, Ryerson Tull, Screaming Media, SFBC International, Sun Microsystsems, Theragenics, Walgreens, and Waters Corp.

MAIN REASONS FOR ACTIVITY

• US Semiconductor Book-to-Bill Ratio rose to 0.54 in June due to a 12% drop in Shipments and a 1% drop in New Orders Bookings. 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.

• Digital River gained 20.47% after reporting fiscal Q2 losses that were half the losses First Call estimated.

• Brocade Communications gained 3.81% after Morgan Stanley Dean Witter upgraded it to an "outperform" recommendation.

• Walgreens gained 1.50% after Lehman Brothers upgraded it to a "buy" recommendation.

• Amazon lost 24.77% after reporting poor revenue growth yesterday. Investors fear that continued job cuts and poor earnings and revenue growths will hamper consumer spending in the retail sector, despite a tax rebate.

• Oil giants Chevron and ExxonMobil closed lower despite reporting strong financial figures today. Investors think the figures lack long term stamina.

• Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• McDonalds gained 2.23% after reporting fiscal Q2 earnings that met estimates, despite a strong US Dollar and Mad Cow disease fears abroad.

• Qualcomm lost 5.09% after suspending the planned spinoff of its semiconductor business. Qualcomm intends instead to realign its businesses and shake up amanagement. Qualcomm also announced the resignation of its COO Richard Sulpizio, rumored to be leaving for a CEO job.

• QLogic lost 3.30% despite reporting fiscal Q1 earnings that met.

• Lucent Technologies lost 18.61% after Furukawa Electronics of Japan and Corning announced they are acquiring Lucent's fiber optic business for $2.75 billion. Under the agreement, Furukawa will pay $2.5 billion for Lucent's core business, while Corning will pay the rest to acquire Lucent's Asian assets. Corning also closed lower. CommScope gained after Furukawa announced that CommScope will be part operator of the acquired unit.

• AFTER CLOSE: Lam Research is gaining in after hours trading after reporting fiscal Q4 earnings that were double First Call estimates!

• AFTER CLOSE: InfoSpace is still gaining in after hours trading after reporting fiscal Q2 earnings of 1 cent a share.

• AFTER CLOSE: Fairchild Semiconductor is still losing after reporting fiscal Q2 loss of 8 cents a share, well below the 4 to 5 cents a share profit Wall Street expected.

• AFTER CLOSE: Peoplesoft is gaining in after hours after reporting fiscal Q2 earnings that beat First Call estimates by 3 cents a share. Peoplesoft also reported a 51% increase in revenue.

• AFTER CLOSE: Wafer maker Cree is gaining in after hours market after reporting fiscal Q2 earnings of 11 cents a share, 1 cent a share shy of First Call estimates, but its revenues rose 34%.

• AFTER CLOSE: CNET Networks is still losing after reporting fiscal Q2 losses of 17 cents a share, in line with First Call estimates.

• FORECAST IS UP: Our First and Second quarters of year 2001 is now up. Don't get blinded in these uncertain times, take advantage of the information by visiting our Quarterly forecasts page.

• NEW SERVICE: Now that we have our United Kingdom and Ireland portal BusinessJeeves UK & Ireland, and our Canadian (English) portal BusinessJeeves Canada is up and running. We are confident, the quality of our content will keep you coming back.

• 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, especially technology and Internet shares. Check out our Quarterly forecasts for other picks.

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

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MARKET SUMMARY FOR MONDAY JULY 23RD. 2001

DOW INDUSTRIAL: 10424.42 = -152.23

NASDAQ: 1988.56 = -40.81

S & P 500: 1191.03 = -19.82

MOST ACTIVE STOCKS & SECTORS

The markets closed lower today as most investors start the week on the sidelines due to earnings worries. The NASDAQ, which was down all day, had a light trading volume of over 1.351 billion shares, while the NYSE had a volume of over 0.973 billion shares traded. Gainers included: AAstrom Biosciences, American Express, Applied Micro Circuits, ARM Holdings Plc, Broadwing, Checkpoint Software, Cisco Systems, Concurrent Computer, Corning, Cygnus Corp, Eclipsys Corp, Emulex, Exodus Communications, Global Sports, IBM, Level 3 Communications, Lucent Technologies, Maynard Oil Co, McDonalds Corp, MIM Group, Scientific Atlanta, Sprint PCS Group, Veritas Software, Vitessee Semiconductor, Vodafone Group Plc, and Worldcom Group.

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.

• Maynard Oil Co. gained 13.05% after announcing that it is exploring strategic alliances, including a potential buyer.

• Checkpoint Software gained 3.25% after reporting fiscal Q2 earnings more than doubled last year's, while revenue grew a whopping 57% over the year.

• AT&T lost 4.07% after reporting fiscal Q2 profits that dropped 92%, but still beat First Call estimates by 1 cent a share.

• Cisco Systems gained 1.56% after UBS Warburg upgraded it to a "buy" recommendation.

• Motorola lost 2.43% after announcing today its intention to sell its mobile phone technology.

• UK's ARM Holdings gained today after reporting that its fiscal Q2 profits rose 46% due to a booming licensing market. Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• Vodafone Group Plc. gained on an upgrade from Dresdner Kleinwort Wasserstein.

• Broadcom lost 0.95% after announcing that its fiscal Q3 revenue will decline between 10% and 15%.

• Applied Micro Circuits and Vitessee Semiconductor gained on a Needham & Co. upgrade. PMC-Sierra, also upgraded by Needham & Co., closed lower.

• Computer Associates closed 1.22% despite announcing that its fiscal Q1 results are above estimates and raised its outlook for fiscal Q2.

• Lucent Technologies gained 3.81% after Furukawa Electronics of Japan, that country's largest fibre optic parts maker, confirmed a Wall Street Journal report that it is intalks to acquire Lucent's Fibre optic cable division.

• 3M closed lower after reporting fiscal Q2 profits that dropped 4%.

• AFTER CLOSE: Amazon reported fiscal Q2 losses of 16 cents a share, 6 cents a share less losses than First Call estimates. Amazon's revenue grew only 16% to $668 million, which was below estimates. Amazon also made know that, its US operations had a PROFIT of $2 million.

• AFTER CLOSE: Texas Instruments, which lost 2.25% in regular trading, reported fiscal Q2 earnings of 3 cents a share, 1 cent a share better than First Call estimates. Texas Instrument's revenue dropped 31%.

• FORECAST IS UP: Our First and Second quarters of year 2001 is now up. Don't get blinded in these uncertain times, take advantage of the information by visiting our Quarterly forecasts page.

• NEW SERVICE: Now that we have our United Kingdom and Ireland portal BusinessJeeves UK & Ireland, and our Canadian (English) portal BusinessJeeves Canada is up and running. We are confident, the quality of our content will keep you coming back.

• 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, especially technology and Internet shares. Check out our Quarterly forecasts for other picks.

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

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MARKET SUMMARY FOR FRIDAY JULY 20TH. 2001

DOW INDUSTRIAL: 10576.65 = -33.35

NASDAQ: 2029.37 = -17.22

S & P 500: 1210.85 = -4.17

MOST ACTIVE STOCKS & SECTORS

The markets closed the week on a whimper. The NASDAQ, which was down all day, had a heavy trading volume of over 1.642 billion shares, while the NYSE had a volume of over 1.156 billion shares traded. Gainers included: American Residential Real Estate Trusts, Amer Land Lease, AOL Time Warner, AT&T, Bea Systems, Celestica, Cisco Systems, Citigroup, Citizens Communications, Data Critical, Documentum, eBay, Enso International, Ericsson, ExxonMobil, GE, Global Payments, IBM, Isomet Corp, J2 Communications, Johnson & Johnson, K-Swiss, LoudCloud, Lucent, Manhattan Associates, Natus Medical, Network Associates, Office Depot, Pep Boys, Pfizer, Plexus, Power Integrations, Pride International, Qwest Communications International, Sanmina, Siebel Systems, Spectralink, Sun Microsystems, Tetra Technology, Waters Corp, and Yahoo!

MAIN REASONS FOR ACTIVITY

• Visit our Federal Reserve Monetary Policy Analysis page to read more. Also, visit our expanded message boards to discuss this topic or any other business topic by clicking here.

• Merck closed 1.29% lower after reporting fiscal Q2 profits that rose 5%, while growth slowed.

• Contract Electronics Manufacturers (CEMs) gained on optimism that their bottom might be in sight.

• Microsoft lost 4.67% and pulled technology stocks lower after announcing that it expects sales in the next quater to be flat.

• eBay gained 3.73% after reporting earnings yesterday that beat estimates.

• Sun Microsystems gained 4.09% today after reporting earnings yesterday that met estimates.

• Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• IPO Today: Natus Medical closed 31.36% above its offering price.

• Nortel Networks closed 2.71% lower today after reporting a record fiscal Q2 loss of $20 billion yesterday.

• Qwest Communications and Citizens Communications both gained after Citizens changed its mind about paying $1.6 billion to acquire telephone lines from Qwest Communications.

• Data Critical gained 58.87% on news that GE Medical Systems is acquiring it.

• Documentum gained 16.86% on upgrades from CS First Boston and Thomas Weisel.

• FORECAST IS UP: Our First and Second quarters of year 2001 is now up. Don't get blinded in these uncertain times, take advantage of the information by visiting our Quarterly forecasts page.

• NEW SERVICE: Now that we have our United Kingdom and Ireland portal BusinessJeeves UK & Ireland, and our Canadian (English) portal BusinessJeeves Canada is up and running. We are confident, the quality of our content will keep you coming back.

• 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 THURSDAY JULY 19TH. 2001

DOW INDUSTRIAL: 10610.00 = +40.17

NASDAQ: 2046.59 = +30.42

S & P 500: 1215.02 = +7.31

MOST ACTIVE STOCKS & SECTORS

The markets rallied today on earnings news and optimism. The NASDAQ, which was up all day, had a very very heavy trading volume of over 1.906 billion shares, while the NYSE had a volume of over 1.346 billion shares traded. Gainers included: Accenture Ltd, Applied Materials, AT&T Wireless, Brocade Communications, Broadcom, Cisco Systems, Crown Cork & Seal, Cypress Semiconductor, Dell, Elantec Semiconductor, EMC Corp, E*Trade Group, Extreme Networks, ExxonMobil, Gartner, GE, Immunex, Intel, Labor Ready, Lucent, Mattel, McData, Mercury Interactive, Micron Tech, Microsoft, Motorola, Network Associates, Nokia, Nortel Networks, NTL, Oracle, Photon Dynamics, PMC-Sierra, Qualcomm, RF Micro Devices, Sanmina, SAP AG, Sprint PCS Group, Symantec, Tyco International, Vitessee Semiconductor, and Woloham Lumber.

MAIN REASONS FOR ACTIVITY

• US Trade Deficit narrowed in May to $28.3 billion.

• US Index of Leading Economic Indicators rose 0.3% in June. The Coincident and Lagging indices all declined in the period.

• US Jobless Claims dropped 35,000 for the week ending July 14th. to 414,000. The 4 week moving average rose to 415,000.

• The Philadelphia Fed Survey dropped 12.2 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.

• IBM and Siebel Systems both closed lower due to poor fiscal Q2 and Q4 earnings reports respectively yesterday.

• Broadcom gained 8.75% after reporting fiscal Q2 losses that were in line with estimates. Broadcom was also upgraded today by Goldman Sachs and JP Morgan Chase & Co.

• Dell gained 4.34% after reaffirming its earnings outlook.

• Microsoft gained 2.83% after reaffirming its fiscal Q4 outlook. Microsoft was however, cautious about fiscal Q1.

• Nokia helped telecoms and the markets to close higher after making known that the mobile phone market will recover this year.

• Europe's largest software company, Germany's SAP AG, helped stocks to rally around the world after reporting fiscal Q2 revenues that rose 24%, while net income rose 75.6%. SAP AG closed up 11.88% and helped the London Stock Exchange to close at...Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• IPO Today: Accenture Ltd. closed 4.62% above its offering price.

• AFTER CLOSE: eBay is gaining in after hours after reporting fiscal Q2 earnings that beat First Call estimates by 3 cents a share.

• AFTER CLOSE: Inktomi is gaining in after hours after reporting its fiscal Q3 results.

• AFTER CLOSE: Gateway Computer is still losing after reporting fiscal Q2 losses that were 1 cent a share above First Call estimates.

• AFTER CLOSE: Network Associates is still gaining in after hours trading after reporting fiscal Q2 losses that were less than Wall Street estimates.

• AFTER CLOSE: Nortel Networks is losing after reporting a world record fiscal Q2 losses of $20 billion.

• AFTER CLOSE: Vitessee Semiconductor is losing after reporting fiscal Q3 losses that were in line with First Call estimates.

• AFTER CLOSE: Sun Micorsystems reported fiscal Q4 earnings that beat First Call estimates by 1 cent a share.

• AFTER CLOSE: PMC-Sierra reported fiscal Q2 net losses of 8 cents a share.

• FORECAST IS UP: Our First and Second quarters of year 2001 is now up. Don't get blinded in these uncertain times, take advantage of the information by visiting our Quarterly forecasts page.

• NEW SERVICE: Now that we have our United Kingdom and Ireland portal BusinessJeeves UK & Ireland, and our Canadian (English) portal BusinessJeeves Canada is up and running. We are confident, the quality of our content will keep you coming back.

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

PICKS FOR THE NEXT MARKET DAY

REASONS BEHIND THE PICKS

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

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

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MARKET SUMMARY FOR WEDNESDAY JULY 18TH. 2001

DOW INDUSTRIAL: 10569.83 = -36.56

NASDAQ: 2016.17 = -51.15

S & P 500: 1207.71 = -6.73

MOST ACTIVE STOCKS & SECTORS

The markets closed lower due to disappointing earnings and comments from Alan Greenspan. The NASDAQ, which slumped all day, had a very heavy trading volume of over 1.735 billion shares, while the NYSE had a volume of over 1.290 billion shares traded. Gainers included: Amgen, AT&T, AT&T Wireless, Bank of America, BEI Technology, Boeing Co, DigitalThink, GE, Guidant, HeadHunter.Net, Heidrick & Sruggles, HMT Technology, JDS Uniphase, JP Morgan Chase & Co, Lucille Farms, Made2Manage Systems, Merck & Co, Pfizer, Philip Morris, RF Micro Devices, Santa Barbara Restaurant Group, SBC Communications, Sevenson Environmental Services, Tractor Supply, and Tripos Corp.

MAIN REASONS FOR ACTIVITY

• The Mortgage Bankers Association (MBA) reported that for week ending July 13th, its MBA Mortgage Applications Survey rose 8.3 to 468.4. Refinance, Fixed Mortgage and Adjustable Mortgage indices all rose.

• US Consumer Price Index (CPI), agood measure of consumer inflation, rose a strong 0.2% in June. Core CPI, which excludes volatile oil and food sectors, also rose a strong 0.3%.

• The Energy Information Agency (EIA) and the American Petroleum Institute (API) reported that for week ending July 13th, US Crude Oil inventories rose 7.0 million barrels and 5.56 million barrels respectively, while Distillates increased 2.7 million barrels and 2.75 million barrrels respectively.

• US New Home Starts rose 3% in July to 1.66 million units. Single Family units accounted for all of the increase.

•  

  The Federal Reserve Bank Chairman Alan Greenspan testified before the House finance committee today. 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.

• AT&T gained 0.62% after rejecting the $40 billion offer from Comcast for its Broadband unit. Comcast closed lower.

• American Express closed 3.30% lower after announcing plans to cut 5,000 jobs, or 5.6% of workforce, and take a $1.2 billion charge.

• AOL Time warner lost after posting disappointing fiscal Q2 revenues due to poor advertising conditions on its TV media networks and publishing units.

• Cendant lost despite reporting fiscal Q2 earnings that beat Wall Street estimates, and revenue more than doubled to $2.4 billion.

• Ford Motor Company lost 1.48% after reporting a %551 million operating profit lost due to its $3 billion Firestone tire recalls

• Visit our BusinessJeeves UK & Ireland portal to read our summary and analysis of the London Stock Exchange.

• Boeing gained 1.47% after announcing that its profits rose 27% in core businesses. Boeing also raised its revenue outlook for the year 2001 by $1 billion!

• EMC Corp lost 11.48% and took other storage related stocks down with it after warning that, its current fiscal Q3 profits will drop even bigger than the 75% drop seen in fiscal Q2.

• Philip Morris gained 1.40% after reporting that its fiscal Q2 profits rose 5.4%.

• Oil related stocks were hit today as crude oil prices closed below the all important $26 a barrel mark on the NYMEX. Gold stocks did better as a strike in South Africa looms.

• AFTER CLOSE: Siebel Systems is still losing despite reporting fiscal Q4 earnings that were in line with Wall Street estimates. Siebel Systems however, lowered its fiscal Q3 outlook.

• AFTER CLOSE: IBM reported fiscal Q2 earnings that met First Call estimates.

• FORECAST IS UP: Our First and Second quarters of year 2001 is now up. Don't get blinded in these uncertain times, take advantage of the information by visiting our Quarterly forecasts page.

• NEW SERVICE: Now that we have our United Kingdom and Ireland portal BusinessJeeves UK & Ireland, and our Canadian (English) portal BusinessJeeves Canada is up and running. We are confident, the quality of our content will keep you coming back.

• 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 Mont