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FINANCIALWEB WEEKLY
http://www.financialweb.com June 8, 2001 Divya Kumar _______________________________________________________________________ TABLE OF CONTENTS 1. Looking Forward 2. Last Week 3. Jump Reports ------------------------------------------------------------ EUROTECH (AMEX:EUO) LAUNCHES AD ON CNBCTV EUROTECH's revolutionary encapsulant EKOR(TM) created for Chernobyl's containment problems has many worldwide nuclear industry applications and is solving the "NOT IN MY BACKYARD" issue now plaguing DOE cleanup programs. To read more visit www.ibc.tv ------------------------------------------------------------ Nasdaq S&P 500 NYSE Dow Close 06/07/01 2264.00 1276.96 645.81 11090.70 1 week change 7.3% 1.67% 0.64% 1.64% 1. LOOKING FORWARD Our Take: Bullish In Choppy Seas Economic and Market Outlook: Indicators point in both directions. The economy is still sluggish and the industries are still in pain. Though recovery in the overall economy is still blurred, recovery in some sectors seems on its way. The stock market turned around after the April 4 debacle, but showed considerable hesitation to move up last month. It took a step back for every step forward. The Nasdaq slipped 0.27% for the month of May; the Dow showed some strength, rising 1.6% in May. Though the bullish trend is back and we can expect to see the markets rising further in the next few months, the seas are choppy and frictional factors will continue to pose hurdles in the upswing. A heartening fact is that in April, $21 billion was invested in mutual funds as compared to a net withdrawal of $20.6 billion in March. Further, the IPO market is finally looking up and investors are treating the new issues fairly well. Economic Calendar: http://www.123jump.com/econ_cal_live.htm Earnings Outlook: Name Date Est EPS Whispers Navisite (NAVI) 6/11/01 -0.57 -0.56 Remec, Inc. (REMC) 6/11/01 -0.01 0.00 Valence Technology (VLNC) 6/11/01 -0.22 -0.22 ChoicePoint, Inc. (CPS) 6/12/01 0.31 0.32 CMGI Inc. (CMGI) 6/12/01 -1.75 -1.70 Loudcloud Inc. (LDCL) 6/12/01 -1.21 - Adobe Systems (ADBE) 6/14/01 0.29 0.30 Heinz Co. (HNZ) 6/14/01 0.53 0.53 IDT Corporation (IDT) 6/14/01 -0.56 - http://www.123jump.com/p5t.htm IPO Outlook: June is expected to spark the IPO market again with 17 new issues. Investor's eyes will watch the Kraft Foods IPO next week, one of the biggest U.S. IPOs ever. Company Industry Shares (M) Lead Manager FMC Technologies Oil & Gas 11.05 Merrill Lynch General Maritime Corporation Oil & Gas 7 Lehman Brothers Kraft Foods Inc. Food & Beverage 280 CSFB Odyssey Re Holdings Corp Insurance 17.14 Banc of America Secs http://www.123jump.com/ipo_calendar.htm 2. LAST WEEK Economic and Market Update: The markets edged up still further this week, though the gains were not impressive. More bad news flooded the market and investors were hesitant to sell. The oil and biotech sectors were strong; the chip sector turned in a depressed performance before shifting gears on Thursday. Guidance from Intel Corp. (INTC) and Applied Micro Devices (AMD) that earnings will be in line with previous expectations infused the markets with enthusiasm. Intel guidance: http://www.123jump.com/story.htm?story_id=11865 On the economic front, initial jobless claims for the week rose to 432,000, the highest since 1992 and productivity declined 1.2% for the first quarter, more than the expected 0.8% decline. This was the first fall in total worker output per hour since 1993. Unit labor costs, an important gauge of inflation, rose 6.3%. Fed chief Alan Greenspan has repeatedly stressed the importance of productivity in the U.S. economy to contain inflation and spur growth, and the economic data this week dimmed the optimism. However, in a speech in Singapore, Greenspan reiterated that inflation was not an issue and that the rise in crude oil prices was temporary. Jobless Claims: http://www.123jump.com/story.htm?story_id=11859 Productivity: http://www.123jump.com/story.htm?story_id=11799 Spirits were dampened further when Federal Reserve Governor Meyer stated that he expects the economy to be sluggish into the second half of the year. His view echoed the statement by Fed Bank of Richmond President Alfred Broaddus, that the economy may have not yet have hit the bottom and more rate cuts may be necessary to prevent a recession. News at the industry level also did not look good. IDC reported that it expects U.S. PC shipments to decline 6.3% in 2001, the first annual decline ever. The Semiconductor Industry Association said that chip sales could fall 14% this year. Further, they felt that PC and chip sales are expected to be anemic even in 2002. Economic Calendar: http://www.123jump.com/econ_cal_live.htm Company Highlights: Mergers: - Speculation that GoTo.com (GOTO) may be acquired sent its stock price soaring. - Unconfirmed reports state that Cisco Systems (CSCO) may acquire Marconi (MONI). - UAL Corp. (UAL) will purchase MyPoints.com (MYPT) for $112.5 million. http://www.123jump.com/story.htm?story_id=11764 Splits: Fair Isaac & Co. (FIC) 3:2; Whole Foods Market (WFMI) 2:1; Cross Timbers Oil (XTO) 3:2; Columbia Sportswear (COLM) 3:2 Earnings Warnings: Hewlett- Packard (HWP), AXT Inc. (AXTI), Broadcom (BRCM), JP Morgan (JPM) Hewlett Packard: http://www.123jump.com/story.htm?story_id=11845 Broadcom: http://www.123jump.com/story.htm?story_id=11844 Upgrades: IDEC Pharma (IDPH), Cheap Tickets (CTIX) Downgrades: Check Point Software (CHKP) 52-week Highs: Copart Corp. (CPRT), GoTo.com, ICOS Corp. (ICOS), Expedia (EXPE), Cima Labs Inc. (CIMT), THQ Inc. (THQI), Take Two Interactive (TTWO) Earnings Update: Company Est EPS Actual EPS Comverse Technology (CMVT) 0.42 0.43 Carrekar Corporation (CANI) 0.06 0.06 Omnivision Technologies (OVTI) 0.00 0.00 Comtech Telecommunications (CMTL) 0.17 0.19 National Semiconductor (NSM) -0.03 0.00 Comverse earnings: http://www.123jump.com/story.htm?story_id=11779 Comtech: http://www.123jump.com/story.htm?story_id=11823 National Semi: http://www.123jump.com/story.htm?story_id=11878 Earnings section: http://www.123jump.com/p500.htm Earnings Calendar: http://www.123jump.com/p5t.htm IPO Update: Unilab Corp. (ULAB) took off to an impressive start, rising to 23 on Wednesday, 44% above the offer price of 16. Torch Offshore Inc. (TORC) rose to 17.99 from its offer price of 16. Looks as if the good times are here again for IPOs. Priced: Company Lead Manager Price ($) Unilab Corp. (ULAB) Salomon Smith Barney 16 Torch Offshore Inc. (TORC) UBS Warburg 16 Torch Goes Off: http://www.123jump.com/story.htm?story_id=11843 Announced: Company Lead Manager Industry American Eagle Tankers Inc. Salomon Smith Barney Transportation Week's IPOs: http://www.123jump.com/pricings.php3?opt=1 3. JUMP REPORTS 123Jump.com does a detailed analysis on markets, companies and industries. Here are some of the latest reports: French telco Alcatel announced this morning that the company will sell its consumer DSL modem business to Thomson Multimedia for $387 million. http://www.123jump.com/story.htm?story_id=11857 COR Therapeutics, CV Therapeutics and Chiron all announced last night that they would attempt to raise hundreds of millions through various sources of financing. http://www.123jump.com/story.htm?story_id=11854 "There is no doubt in my mind that the demand for deploying IP cores continues to be very strong." Surya Panditi, CEO, Avici Systems http://www.123jump.com/story.htm?story_id=11714 "In Denmark lawmakers are extremely creative and we have been forced over time to implement different accounting schemes ... with five accounting structures in place." Flemming Tamstorf, CIO - SimCorp A/S http://www.123jump.com/story.htm?story_id=11713 This morning broadband player Excite@Home announced that it would shut down operations in France, Germany and Spain. http://www.123jump.com/story.htm?story_id=11825 --------------------------------------------------------------- Advertise With Us: For more information about advertising in our email newsletters please visit: http://123jump.com/contact.htm Helpdesk: To unsubscribe or update your settings please visit our online help desk: http://123jump.com/help.htm --------------------------------------------------------------- www.financialweb.com Copyright 2001 Disclaimer: The material herein is for information purposes only and should not be deemed an offer or solicitation on our part with respect to the sale or purchase of any securities. --- You are currently subscribed to financialweb as: shendri@ect.enron.com To unsubscribe send a blank email to leave-financialweb-797941Q@newsletter.netstocks.com
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