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Charles Schwab & Co., Inc.
Email Alert Midday Market View(TM) for Friday, October 26, 2001 as of 1:00PM EDT Information provided by Schwab Center for Investment Research and Bridge U.S. INDICES (1:00 p.m. EDT) ---------------------------------- Market Value Change DJIA 9,510.64 + 47.74 Nasdaq Comp. 1,774.92 - 0.55 S&P 500 1,102.18 + 2.09 ---------------------------------- NYSE Advancing Issues 1,503 NYSE Declining Issues 1,347 NYSE Trading Volume 558 mln NASDAQ Advancing Issues 1,656 NASDAQ Declining Issues 1,604 NASDAQ Trading Volume 947 mln ================================== U.S. TREASURIES ---------------------------------- Value Yield Change 6-month bill 2.01% n/a 5-year note 3.75% + 1/32 10-year note 4.55% + 1/32 30-year bond 5.31% + 2/32 The tables above look best when viewed in a fixed-width font, such as "Courier." ================================================================ STOCK MARKETS MIXED Stocks were trading mostly sideways with some strength in Blue Chip shares and weakness in the technology sector. As of 11:50 a.m. EDT, the Dow Jones Industrial Average was up 0.4%, while the Nasdaq Composite Index was 0.5% lower. The S&P 500 Index was unchanged. Biotech, airline and energy related stocks led the gainers while computer related shares paced the decliners. Fiber-optic equipment maker JDS Uniphase (JDSU,8.96,f2) said it incurred a fiscal 1Q loss of $1.2 billion or $0.93 per share. CFO Anthony Muller said the company would have lost $0.03 per share if restructuring and merger related costs were excluded, matching the consensus First Call estimate. JDS Uniphase blamed a slump in demand for telecommunications equipment for its woes, but the company's CEO said he sees a "low-point" in demand by December or March. As a result JDSU said it expects a loss of $0.01 to $0.02 per share in the fiscal 2Q on a 10%-15% sequential drop in sales. Biotech behemoth Amgen (AMGN,59,f1) reported 3Q net income of $0.30 per share, $0.01 better than the First Call consensus estimate. The company said sales of Neupogen, its treatment to prevent infections in chemotherapy patients, rose 2% to $353 million, while sales of its two anemia drugs, Epogen and Aranesp, rose 4.6% to $520 million. Chief Executive Kevin Sharer said Aranesp will drive 4Q sales growth and fiscal year 2001 sales and earnings should rise 10%-12%. Internet security provider VeriSign (VRSN,43,f1) reported 3Q pro-forma income excluding charges of $0.28 per share, ahead of the Street's expectations for earnings of $0.16 per share, but warned that 4Q revenues would fall short of expectations. Including charges, VeriSign said it lost $1.91 per share. Lockheed Martin (LMT,50,f2) reported 3Q earnings excluding items of $0.41 per share, beating the First Call estimate of $0.37 per share. Including items, the defense contractor earned $0.49 per share. The Pentagon will announce the lead contractor, either Boeing (BA,37,f2) or Lockheed, for its new Joint Strike Fighter program after the market close today. Contract electronics manufacturer Flextronics International (FLEX,21,f1) reported earnings excluding charges of $0.15 per share, $0.01 shy of the First Call consensus estimate. Including charges, the company lost $0.69 per share. ---------------------------------------------------------------- TREASURY AND ECONOMIC SUMMARY Bond prices were slightly lower following the release of stronger-than-expected consumer confidence and housing data. The University of Michigan's October consumer sentiment survey rose to 82.7 from September's 81.8 reading, slightly higher than the Bloomberg forecast of 82.5. The current conditions component fell to 94.0 from September's 94.6, and the future expectations component rose to 75.5 from 73.5. New home sales fell for the second straight month in September, according to the Commerce Department. Sales dropped 1.4% to an annual rate of 864,000, the lowest rate in 13 months. Analysts per Dow Jones Newswires had been expecting an annual rate of 855,000. August sales were downwardly revised from a rate of 898,000 to a rate of 876,000. The inventory of homes for sale rose to 4.4 months from the prior month's 4.2 month supply. ---------------------------------------------------------------- WORLD MARKETS European stocks were generally higher, led by technology shares, following the Nasdaq's 2.5% rise yesterday. Shares of mobile network provider Ericsson (ERICY,4.56,f1) rose, despite a wider-than-expected 3Q loss, after the company named Michael Treschow as chairman. As of 10:53 a.m. EDT, the Bloomberg European 500 Index was up 2.13%. 3Q Gross Domestic Product in the UK rose a better-than-expected 0.6%. Italian retail sales rose a better-than-expected 3.0% year-over-year in August. Isaia Carucci, Market Analyst ================================================================ LOGIN to access your account: https://investing.schwab.com/trading/start ---------------------------------------------------------------- To unsubscribe or modify your Email Alert customization options, log in using the link below or copy and paste it into your browser's address window: https://investing.schwab.com/trading/start?SANC=EAMyAlerts ---------------------------------------------------------------- Notice: All email sent to or from the Charles Schwab corporate email system may be retained, monitored and/or reviewed by Schwab personnel. (0801-11478) Information provided by Bridge Information Systems. Copyright 2001 Bridge Information Systems. Charles Schwab & Co., Inc. ("Schwab") is a member of the NYSE, other major U.S. Securities Exchanges, and SIPC. Schwab is a specialist in various securities on the Pacific, Boston and Cincinnati Stock Exchanges and is subsidiary of The Charles Schwab Corporation, which is listed on the NYSE and trades under the symbol "SCH". Schwab Capital Markets L.P. is a member of the NASD and SIPC. Schwab Capital Markets L.P. is also a subsidiary of The Charles Schwab Corporation and is a market maker in approximately 4,900 securities. Schwab Center for Investment Research ("SCIR") is part of Charles Schwab & Co., Inc. The information contained herein is obtained from sources believed to be reliable, but its accuracy or completeness is not guaranteed. This report is for informational purposes only and is not a solicitation, or a recommendation that any particular investor should purchase or sell any particular security. Schwab does not assess the suitability or the potential value of any particular investment. All expressions of opinions are subject to change without notice. The Charles Schwab Corporation, Schwab, Schwab Capital Markets L.P. and its officers, directors, employees, consultants and/or members of their families may have a position in, and may from time to time, purchase or sell any of the mentioned or related securities including derivatives in such securities. At any given time, Schwab specialists, or Schwab Capital Markets L.P. market makers, may have an inventory position, either "long" or "short" in any security mentioned in this report as a result of their specialist/market making functions, respectively. Additionally, Schwab or Schwab Capital Markets L.P. may be on the opposite side of orders executed on the floor of the Pacific, Boston and/or Cincinnati Stock Exchanges or over-the-counter market respectively, as well. Schwab (or persons related thereto) or consultants may perform or solicit investment banking or other business from any company mentioned in this report. (C)2001 Charles Schwab & Co., Inc. 1) Schwab Capital Markets L.P. makes a market in this security. 2) Schwab is a specialist in this security. 3) Schwab has managed or co-managed a public offering in this security within the last three years. 4) An employee of Schwab is a Director of this company. 5) An analyst covering this stock has an investment position. This service is for personal use only. Commercial use or redistribution in any form, print or electronic, is prohibited. Distribution by Quris, Inc.
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