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Enron Mail |
Yesterday's moribund "action" steeped into Tues' trading - then at 2PM
things sold off. It was grim unless you were an oil/ oil service or a biotech. Starting at 2PM the Nasdaq lost 128 points to close down 65, the Dow Industrials lost 45 points to close off nearly 80. On the bright side - in the oils and drillers - TX & HAL up over 6%, SLB & XOM up over 3%, BHI up over 5%/ In the utilities - ENE up over 5 1/2%, PCG and REI up over 3%, DUK up over 2% and the drugs AHP up 3 1/2%, PFE and BMY up over 1 1/2% - lots of talk about MYGN finding a gene for prostate cancer - up over 20%.... then there was the rest of the market - the financials - AXP, LEH, CMB, BAC all down over 3%.... Then there was tech - some of the laggards of late showed some strength - QCOM up 2% and MSFT and DELL* up over 4%.... however SUNW, AMAT, MU, TXN, EMC all down over 4%, CSCO down 3%, YHOO down 1 1/2%... no it wasn't pretty. In the CEUT Universe - ITWO* down over 7, MANU* down over 1 1/16... BWAY* up up over 3, USIX* down over 2.... AMZN* and EBAY* down over 3, CTAC* up over 2 1/2 (almost 10% - technical breakout).... AMCC* down over 15 (questions about a shortfall on an order), PMCS* down over 7, SSTI* down over 4, ZRAN* down over 1 1/2... LU* down over 1 3/4, JDSU* down over 2... DELL* up over 1 1/2, CPQ* up small (boxmakers were generally up), ANCR* down over 2 1/2, BRCD* up over 1 3/8... PROX* down over 5 1/2, RIMM up over 1 1/4 and IIIM* up 1 to almost 15 (once again this stock was under 7 recently).... MERQ* down over 7, MUSE* and NTIQ* up over 3, VRTS down 8... DISH* down over 4, GILTF* down over 3, GMH* up over 2 (announced 3 for 1 split after close), SPOT* down over 3 3/4, PGTV+ down over 11% (guess that GMH talk wasn't true)..... In IPOland - Founders Food and Firkins (GCFB) - owns Granite City Food and Brewery PPI # Friday will set the tone - till then we might be treading water. GE and CSCO - forming new co. to improve manufacturing via tech. Alcatel - 3 seperate lawsuits - patent and copyright issues - vs. CSCO. INTC's Andy Grove - breaks from industry view - wants net transactions to be taxed. Warner - settling problems with MP3.com. AOL/TWX - submitting "remedies" to European Comm. to get okay on merger. Nortel co-market deal with Juniper QCOM - new game-plan for China - build out local areas and get everyone on CDMA. Chello Broadband - parent still involved in deal-making - will probably delay IPO. WCOM - $3.5 million "slamming" fine - changing people's long distance without their knowledge. James Cramer - files counter-suit vs. Fox. T - raising long dist. rates for basic customers. Amadeus joining BroadVision - creating online travel site. SupplyForce.com - $52 million 2nd round b to b. GMH* - 3 for 1 New Virus - attacks text based phones and pagers. WR Hambrecht - raises $83 million - American Express, Scudder, JF Shea Co. and others. Astral Point Comm. - optical net co. - gets $40 million. American Broadband - regional broadband network - raising $200 million. EOnline.com - ASP - gets $60 million led by Morgan Stanley Dean Witter. JBL - over $500 million spot secondary by Thomas Weisel Partners. NY Times - HON going to net - lots of work but lots of reward. NY Times - special e-commerce section. AtHome cooperate with Cox - interactive TV in San Diego. Beenz.com - $52 million for domestic and overseas expansion. TFSM - iPromotions acquisition - watch out DCLK. MSFT - $15 million in OnSite access - commercial broadband Infrast. Congress - "no tax" net bill has provision to let FCC regulate net long dist calls. eParties - event planning co. backed by eCompanies - merging not going under. EBAY* - FBI looking at bidding schemes. LEH - buys big stake in Turkish ISP. JP Morgan - fined $200,000 for not representing Nasdaq orders. FXall.com - 7 big banks in International currency trading consortium. WSJ Heard - MSFT - restrictions scare investors more than break-up. WSJ Heard in Europe - Freeserve - what price? T-Online balking? Palm - buys Actual Software - email provider. Safeway - exclusive with groceryworks.com Playboy Ent. - bachelor party site featured on theknot.com (major wedding site). Asahi Glassx, Mitubishi and Net One Systems - marketing faster optical fiber - threat to GLW? C.E. Unterberg Towbin: Catherine Moore marketing in Denver/ Jim Poyner marketing in NY/ Karl Motey marketing in NY/ In house Sat. Seminar. There it talk: Delta and American Airlines?/ DT for Q?/RD for TX?/ CSCO for FNSR?/ The information contained herein is obtained from sources we believe to be reliable but its accuracy and completeness, and that of the opinions based thereon, are not guaranteed. C.E. Unterberg Towbin, or one or more of its partners, may have a position in any of the securities discussed herein. All rights reserved by C.E. Unterberg Towbin. May not be reproduced in whole or in part without prior written authorization. This report is not an offer to sell or solicitation of an offer to buy the securities mentioned herein. *C.E. Unterberg Towbin makes a market in this security and/or has analyst coverage. +C.E. Unterberg Towbin makes a market in this security and has been involved in a recent financing. _____________________________ Bram Towbin C.E. Unterberg Towbin 10 East 50th Street New York NY 10022 Telephone: 212 572 8163 Fax: 212 759 4032 Btowbin@unterberg.com ---------------------------------------------------------------- Pursuant to SEC and NASD requirements, all incoming and outgoing e-mail of C.E. Unterberg, Towbin is subject to review by the Compliance Department. Please note that C.E. Unterberg, Towbin does not allow the use of e-mail to request, authorize or effect the purchase or sale of any security, to send fund transfer instructions, or to effect any other transactions. 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