Enron Mail

From:money_mail@mail.cnbc.com
To:shendri@ect.enron.com
Subject:Chasing Chips
Cc:
Bcc:
Date:Thu, 7 Jun 2001 15:24:35 -0700 (PDT)

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Good evening!
Here is your Money Mail for Thursday, June 7.

BUZZ AT THE BELL
The vagaries of semiconductor supply and demand once again
drove stock trading -- this time to the delight of
chip-stock investors. Thanks to a positive profit spin from
National Semiconductor, stocks of companies that make chips
and chip equipment soared.

The Nasdaq Composite rose 2.1 percent, climbing 46 to
2,264. The Dow Jones industrials and Standard & Poor's 500
closed fractionally higher.

But shares in the semiconductor sector jumped more than 6
percent after National Semi, despite reporting a quarterly
loss, projected better sales in the months ahead. The chip
maker pointed out that its clients' semiconductor
inventories have plummeted, suggesting they'll need to bump
up their orders sometime soon. National Semi shares surged
11 percent to 31.04, while sector heavyweight Intel climbed
4.5 percent and Applied Micro Devices rose 6.7 percent.

Chip makers' gains spread cheer to other corners of the
technology arena. Computer networkers jumped 5 percent,
propelled by a 5.1-percent gain in Cisco shares, and makers
of electronic instruments rose 3.3 percent.

About half of S&P industry groups advanced. Among the
biggest decliners were tobacco stocks, defense contractors
and photo-imaging companies. Shares of the most widely held
companies generally rose, except for modest declines in
International Business Machines, AOL TimeWarner, and
Citigroup. Overall trading volume was light.

Scott Gerlach
Managing Editor, CNBC.com


MAJOR INDEXES AND VOLUMES
* Dow Jones Industrials: 11,090.67, up 20.43 or 0.18%
* Dow Jones Transports: 2,916.30, up 17.91 or 0.62%
* Dow Jones Utilities: 369.53, down 3.12 or 0.84%
* S&P 500: 1,276.95, up 6.92 or 0.54%
* NASDAQ Composite Index: 2,263.93, up 46.20 or 2.08%
* Russell 2000: 514.77, up 2.19 or 0.43%
* FTSE: 5,909.40, down 10.60 or 0.18%
* NIKKEI: 13,277.51, up 102.67 or 0.78%
* Ten-Year Treasury Note Yield: 5.28%, up 0.01 or 0.19%

* NYSE volume (preliminary): 1.09 billion shares
* Nasdaq volume (preliminary): 1.64 billion shares

* To see our complete U.S. index list,
http://www.cnbc.com/news/markets/world.html?ReferrerID=MM


SCOUTING REPORT: FRIDAY
Investors on Friday will likely focus on what Intel tells
analysts in its mid-quarter update Thursday night. The
first-quarter earnings calendar has just about played out,
although a few conference calls are set for Friday. Zions
Bancorp. and Harnischfeger Industries are two expected to
talk to analysts and investors.

There are no economic reports due Friday.


STOCKS
* Pick Resilient Finance Companies *
Rate cuts help consumer lenders. Buy the ones set to thrive
after the spigot closes.
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