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-------------------------------------------------------------------------------- - internet.com's - M A R K E T C L O S E By Paul Shread (mailto:pshread@internet.com) http://www.isdex.com http://www.internetstockreport.com/close/article/0,1785,1701_775071,00.html ___________________________ Sponsors ________________________________ This newsletter sponsored by: e-Business Analytics Seminar _____________________________________________________________________ Lucent Merger Called Off, Sun Warns /-------------------------------------------------------------------\ Optimize Your Business Intelligence "Plan of Action" Techniques! ** e-Business Analytics Seminar ** June 18, Reston, VA - July 17, Atlanta, GA - July 25, New York, NY The e-Business Analytics Seminar offers a rare opportunity to learn the techniques needed to optimize operations, enhance relationships with customers and partners, and gain bottom line benefits. Learn how to develop and implement your own e-business analytics "plan of action" today! Register at http://www.imgevents.com/eba_seminar. \--------------------------------------------------------------adv.-/ May 29, 2001 - A tough day for technology and Internet stocks got even more interesting after the close, as the Lucent-Alcatel merger was called off and Sun Microsystems warned. The ISDEX http://www.wsrn.com/apps/ISDEX/ plunged 18 to 263, and the Nasdaq fell 75 to 2175. The S&P 500 dropped 9 to 1267, but the Dow climbed 33 to 11,039, once again holding the important 11,000 level. Volume rose to 1.18 billion shares on the NYSE, and 1.6 billion on the Nasdaq. Decliners led 16 to 13 on the NYSE, and 24 to 13 on the Nasdaq. For earnings reports, visit our earnings calendar at http://www.wsrn.com/apps/earnings/internet.xpl and reported earnings at http://www.wsrn.com/apps/earnings/ireported.xpl. For after hours quotes and news, visit our after hours trading site at http://www.afterhourstrading.com. Lucent (NYSE:LU) fell 1.08 to 8.32 during the day on word that the company's merger with Alcatel (NYSE:ALA) would be for less than expected (see this morning's Morning Report at http://www.internetstockreport.com/column/article/0,1785,1661_774061,00.html). Both Lucent and Alcatel rose after the bell after the companies announced that the merger talks had been terminated, reportedly over issues of equality and autonomy for troubled Lucent. Also after the close, Sun (NASDAQ:SUNW) warned that earnings will be 2-4 cents a share, less than analysts' estimates of 6 cents. The company declined to provide forward guidance. Goldman Sachs had downgraded the stock during the day ahead of the company's mid-quarter update after the close. During the day, stocks fell across the telecom equipment sector on concern about what the proposed Lucent deal meant for both valuations and competition in the sector. Juniper (NASDAQ:JNPR) dropped 6.16 to 46, slicing through 50 support, Ciena (NASDAQ:CIEN) lost 3.67 to 56.67, Redback (NASDAQ:RBAK) dropped 2.16 to 13.55, Cisco (NASDAQ:CSCO) lost 1.88 to 20.17, and Tellabs (NASDAQ:TLAB) declined 1.30 to 37.38, but held 36 support. Storage stocks were weak after Goldman Sachs downgraded EMC (NYSE:EMC), which also announced layoffs. EMC lost 2.60 to 34.50, Network Appliance (NASDAQ:NTAP) fell 3.64 to 22.08, Netegrity (NASDAQ:NETE) dropped 3.83 to 35.17, and Brocade (NASDAQ:BRCD) plunged 5.31 to 41.16. RealNetworks (NASDAQ:RNWK) dropped 2.47 to 10.62 on reports that AOL (NYSE:AOL) may include Microsoft's (NASDAQ:MSFT) Windows Media Player in its access software. iBasis (NASDAQ:IBAS) tacked on .23 to 3.99 on a deal with Openwave (NASDAQ:OPWV). Akamai (NASDAQ:AKAM) rose .18 to 11.13 on several federal contract wins. Some technical comments on the market: Note: We include charts in the technical market commentary. If you can't get the charts via the e-mail newsletter version, try this link: http://www.afterhourstrading.com/column.html Today wasn't all negative, but it was certainly mixed at best. The Dow (first chart) held important 11,000 support, but it ended the day right at its main downtrend line. A clean break of 11,000 or 11,050 should determine near-term direction on the index. The S&P 500 (second chart) is back below its September downtrend line, but it held important 1265 support, the neckline of an inverted head-and-shoulders bottom. Levels to watch are 1254 to the downside and 1293 to the upside. The Nasdaq (third chart) is back below its January bottom at the important 2252 level, but is holding above its September downtrend line, which should be around 2150 o so tomorrow. 2200 is now first resistance. The bad news for techs is the weakness in the generals, the Nasdaq 100 (fourth chart), which never took out its January bottom (2087) and is well below its September downtrend line. Today was a potential cycle turn date, so we'll see if the market can turn up tomorrow. Special report: For a free introduction to technical chart patterns and an overview of last year's action in the stock market, visit http://www.internetstockreport.com/guest/article/0,1785,2571_500051,00.html. internet-stock-report-text Is Powered By http://By.SparkLIST.com/ SparkLIST delivers high volume fast and reliable email newsletter outsourcing which allows you to focus on your core business. Contact us: mailto:free-quote@sparklist.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Advertising: If you are interested in advertising in our newsletters, call Frank Fazio on 1-203-662-2997 or send email to mailto:ffazio@internet.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ For contact information on sales offices worldwide visit http://www.internet.com/mediakit/salescontacts.html ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ For details on becoming a Commerce Partner, contact David Arganbright on 1-203-662-2858 or mailto:commerce-licensing@internet.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ To learn about other free newsletters offered by internet.com or to change your subscription visit http://e-newsletters.internet.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ internet.com's network of more than 150 Web sites are organized into 16 channels: Internet Technology http://internet.com/it E-Commerce/Marketing http://internet.com/marketing Web Developer http://internet.com/webdev Windows Internet Technology http://internet.com/win Linux/Open Source http://internet.com/linux Internet Resources http://internet.com/resources ISP Resources http://internet.com/isp Internet Lists http://internet.com/lists Download http://internet.com/downloads International http://internet.com/international Internet News http://internet.com/news Internet Investing http://internet.com/stocks ASP Resources http://internet.com/asp Wireless Internet http://internet.com/wireless Career Resources http://internet.com/careers EarthWeb http://www.earthweb.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ To find an answer - http://search.internet.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Looking for a job? Filling an opening? - http://jobs.internet.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ This newsletter is published by internet.com Corporation http://internet.com - The Internet & IT Network Copyright © 2001 INT Media Group, Incorporated. All rights reserved. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ For information on reprinting or linking to internet.com content: http://internet.com/corporate/permissions.html ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ --- You are currently subscribed to internet-stock-report-text as: alewis@ect.enron.com To unsubscribe send a blank email to leave-internet-stock-report-text-5597021I@list5.internet.com
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