On Thursday neither the Dow Industrials or the Nasdaq saw green... what was
particularly surprising was there was an expectation that end of month widow
dressing would carry us up for the close of the week - maybe this bodes well
for Friday - if there is any action expect it in the morning as traders
leave early for a long holiday weekend. (Tues. is the July 4th holiday and
Monday is a short trading day). In tech generally - UIS tumbled over 30% on
negative talk going forward and numerous downgrades, CPQ* (Compaq Comp) down
over 11% on analyst comments, EMC (EMC Corp), IBM ORCL (Oracle) all down 2%,
AFCI (Advanced Fibre Communications) ERICY (LM Erics Tel) and NSM (National
Semiconductor) down 6%, GTW (Gateway) SAP (Sap Aktiengecell) and ADI (Analog
Devices) all down roughly 5%, TXN (Texas Instruments) down 4%, NOK (Nokia)
and HWP (Hewlett-Packard) down 3%.... there were a couple of bright spots -
COMS (3-Com) up 9% on earnings, INTU (Intuit) up 7% and FON (Sprint Fon GP)
up over 3 1/2% - bouncing back from yesterday.... another stock of note
yesterday LLY (Eli Lily) up over 15 due to positive reports on new drug.....
In the CEUT Universe: INIT* (Interliant) and ITWO* (I2 Technologies) both up
over 3, NATI* (National Instruments0 down over 5, AMCC* (AMC Corp) up 4,
PSEM* (Pericom Semiconductors) and CNXT* (Conexant Systems) down 3, SSTI*
(Silicon Storage) down over 2 1/2, JDSU* (JDS Uniphase) down over 5, BRCD*
(Brocade Communications) up over 3 1/2, PRCM* (Procom Technologies) and
NTAP* (Network Appliance) both down over 4, PROX (Proxim) and RIMM*
(Research In Motion) down nearly 4 (RIMM* continued to tumble in after hours
trading after they came in inline but there were negative rumblings on the
call), NUHC* (Nu Horizons) down over 1, MERQ* (Mercury Interactive) up 2,
MUSE* (Micromuse) up over 6 (continuing rise), VTRS* (Veritas Software) down
over 9, TMPW* (TMP Worldwide) down over 3, DISH* (Echostar Communication) up
over 2, GILTF* (Gilat Satellite) down 3, GMH (General Motors H) up 3 (on the
rebound), SPOT* (Panam Sat) down over 3, WCII* (Winstar Communications) down
over 2 1/2, COVD* (Covad Communications) down over 1. In IPOland some were
up strong, some weren't - Capstone Turbine (CPST) tripled after coming at
the top of the upward range - the company makes parts for power generators
and electronic vehicles.... Accord Networks (ACCD) - the Israeli realtime
interaction co. closed down 19%.... Virage (VRGE) - video content dist.
software up over 50%..... Carescience (CARE) - medical analysis programs -
closed down 17%. Coming today Exfo Electro-Optical Eng. (EXFO) - fiber optic
test equip priced way above range. Mobility Elect. (MOBE) - peripheral
interface tech. priced above range. Storage Networks (STOR) - data storage
provider - priced above range.
T - issuing tracking stock for long dist, cable to boost stock price?
XRX - accounting questions in Mexican unit.
IBM gets GTE vet for HR chief - 2nd big GTE defection since Bell Atlantic
merger./ Also GTE nailed for illegal gifts to Hollywood VIPs.
Regulators - SBC Comm. (regional bell) - getting okay to go into Long Dist.
Office Depot, Buy.com and Value America - pulling "deceptive" computer ads.
Fed anti-trust busters - not rushing to regulate online commerce.
MPPP - subscription service for music.
TXN - buys wireless developer Dot Wireless.
Nortel* in alliance with Juniper to market hardware to Telcos.
LawCommerce.com - lots of interest from law firms and VCs - sell full range
of law related products.
Primedia's Pres and CEO quits.
France Tel. - 10% stake in Web unit values web co. between $16 to $18
iVillage - two managers defect to Beliefnet - spirtualality site.
London Metal exchange - online competition from European Group.
United Airlines - shuts off in flight system to plug in laptops over safety
concerns. AMR studying issue.
Pearson - buys Family Educatin Network in addition to content dist. deal
Belgacom (Belgium ISP) merge with Infosources (French ISP) creating another
strong Euro ISP competitor.
NetZero - buys electronic currency producer RocketCash.
Bank of Scot. - outsourcing IT services to IBM.
3 Property Co.s (CB Richard Ellis, DTZ Holdings, Jones Lang LaSalle) -
forming real-estate portal in Europe.
WAP - is WAP wack? Deut T's early #s aren't promising.
EHitex - net market for high tech co.s gets $100 million - backers include -
AMD, CPQ*, Gateway, Hitachi, HWP, NEC, Samsung, A, Cannon and others.
Carmel Ventures raised $160 million - high tech Israeli venture fund.
Israel Aircraft Indust. - raised from ashes to become major player in
air/defense contracting worldwide - US not happy.
NY Times - overview of online legal sites.
ORCL - revamps ap server offering.
Failed Dot Coms -are they selling your private info?
Silicon Alley Reporter - interesting overview of Charlie Rose interview with
programmer David Gelernter - current OSs suck and it's software industries
COVD* - automated loop order processing - GTE, USW, Ameritech and
Barrons - honest overview of their stock picks in '99 and '00 - we missed
alot and nailed some.
WSJ Heard - Freddie Mac - we're not splitting co.
RecordTV - page 1 story in WSJ of "Napster of TV" - father just trying to
record programs for his kids.
QCOM - laying off 200 workers - streamlining.
Tumbleweed Comm (secure e-mail) buys Interface Systems (legacy data on WWW).
HWP - buy their CD writer and get 2 months of E Music downloads for free.
GSTRF+ - CNBC explains drawdown - LOR, LMT and QCOM on the hook - quotes
banking pundit who says move "smacks of desperation" but it's a "wise
C.E. Unterberg Towbin - InfoVista in San Fran.
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