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---------------------- Forwarded by Sara Shackleton/HOU/ECT on 03/24/2000
05:40 PM --------------------------- "SmartPortfolio.Com" <admin_update@smartportfolio.com< on 03/24/2000 04:12:45 PM Please respond to "SmartPortfolio.Com" <admin_update@smartportfolio.com< To: sshackl@ect.enron.com cc: (bcc: Sara Shackleton/HOU/ECT) Subject: SmartPortfolio.Com Update: Markets Mixed Ending Strong Week The following is a FREE service brought to you by SmartPortfolio.Com, located on the Web at http://www.smartportfolio.com <A HREF="http://www.smartportfolio.com"<AOL users click here</A< Update March 24, 2000 Friday's Market Update: Markets Mixed Ending Strong Week 1. Friday's Market Action 2. Internet and Tech Stocks 3. Notable Earnings Announcements 4. Notable Upgrades and Downgrades 5. Stock Splits 6. IPO Commentary 7. IPOs Trading Friday ______________________________________________________________ **SPECIAL ANNOUNCEMENT: SONIC FOUNDRY ANNOUNCES 2:1 STOCK SPLIT! Smart!Splits Readers Knew About it Beforehand! Did you? Didn't know that Sonic Foundry (Amex:SFO) was going to announce a stock split today? Subscribers to the Smart!Splits Report were informed of this possibility in last week's report! To find out about the next stock split that can enhance your portfolio, visit: http://www.smartportfolio.com/freetrials <A HREF="http://www.smartportfolio.com/freetrials"<AOL users click here</A< ************************************************************** ***********************Advertisement************************** "A $500 minimum balance let me open and fund an Ameritrade account. Hey, how could I not trust someone with 25 years of experience." http://www.smartportfolio.com/ameritrade ************************************************************** Need this report sooner? Please remember that you can always read the update on our web site at http://www.smartportfolio.com/update The update is posted at approximately 6:00 PM EST every day. The SmartPortfolio.Com Referral Contest is off to the races! So even if you only have a few e-mails you want to contribute, you still are eligible to win cash ($1,000, $500, and $250) in this contest each month! How? Just visit: http://www.smartportfolio.com/ref for all the details. <A HREF="http://www.smartportfolio.com/ref"<AOL users click here</A< The top 10 point leaders as of 5:00 PM EST today are: 1. Murtuza Syed 2. David Wilson 3. Arshad Siddiquee 4. Lee Gayda 5. Mati Johvik 6. Raul Purificacion 7. Ziad Elkhalil 8. Joseph Yatco 9. Filmon Semere 10. Davina Irwin 1. Friday's Market Action $ Change % Change Close Dow Industrials -7.14 -0.06% 11112.72 S&P 500 +0.11 +0.01% 1527.46 Nasdaq +22.42 +0.45% 4963.03 Internet Stock Index +16.63 +1.56% 1080.27 A buying binge of Internet and technology stocks sparked Friday morning's market rally, which led to solid gains on the Dow and the Nasdaq throughout most of the day, before the Dow finished lower amid profit-taking by investors, closing a week characterized by strong performances on the major U.S. indexes as investors temporarily put aside their concerns about future interest rate hikes and upcoming quarterly earnings announcements. Friday's market action was kicked off by the Commerce Department's report that new orders for durable goods, including cars, computers and appliances that are intended to last three years or more, fell 2.3% in February to $208.45 billion, which was weaker than analysts' forecasts of a 0.2% decline. February's numbers for orders of costly U.S. manufactured goods represent the second month of declines in a row. The report came only a few days after the Federal Reserve hiked short-term interest rates for the second time this year in its ongoing determination to keep the steaming economy in check. After boosting stocks on Thursday amid rumors that the mammoth government antitrust lawsuit against it might be nearing closure, Microsoft (Nasdaq:MSFT) is expected to make a sweeping offer to settle the case as the government eases up on demands that the software titan be broken up. If the proposal by Microsoft is sufficiently wide ranging, then it could result in final negotiations as early as this weekend among Microsoft Chairman Bill Gates, Assistant U.S. Attorney General Joel Klein and Judge Richard Posner, who has been serving as the case's mediator. On the other hand, if the proposal is deemed to be too narrow by prosecutors, it could destroy the settlement negotiations and throw the case back into the courts. A federal judge ruled last year that Microsoft had abused monopoly power in its Windows computer operating system, which allegedly harmed consumers, customers and other companies. Shares of Microsoft dropped 3/16 (-0.17%) to 111 11/16. Oil services companies had a strong day on Wall Street, as oil prices rose on Friday in the wake of a final effort being made by the U.S. government to persuade OPEC to agree to a big output hike at next week's gathering of the group. Halliburton (NYSE:HAL) gained 7/8 (+2.31%) to 38 3/4, Schlumberger (NYSE:SLB) closed up 7/8 (+1.13%) to 78 3/16, Transocean Offshore (NYSE:RIG) rose 1 3/16 (+2.64%) to 46 3/16, Cooper Cameron (NYSE:CAM) gained 2 1/8 (+3.28%) to 66 7/8, and Smith International (NYSE:SII) closed up 1 7/8 (+2.50%) to 77. The drug sector was buzzing over the statement by the Food and Drug Administration (FDA) that Propulsid, a popular drug with nearly $1 billion in sales last year, had been associated with 341 reports of heart rhythm abnormalities, including 80 reports of deaths. Johnson & Johnson (NYSE:JNJ), the maker of the prescription heartburn drug, reported that it would stop marketing the product in the U.S. and that it is working with the FDA to create a special "limited access" program to keep it available for certain patients that have not been helped by other treatments. Following the news, shares of Johnson & Johnson plunged 10.78% (down 8 5/8) to 71 3/8, while shares of other drug stocks also had weak performances, with Merck (NYSE:MRK) dropping 1 1/8 (-1.79%) to 61 3/4, Pfizer (NYSE:PFE) closing down 3/16 (-0.53%) to 35 1/16, Schering-Plough (NYSE:SGP) falling 1 1/2 (-3.97%) to 36 1/4, Pharmacia & Upjohn (NYSE:PNU) dropping 2 9/16 (-4.30%) to 57, American Home Products (NYSE:AHP) closing down 1 1/2 (-2.77%) to 52 11/16, and Warner-Lambert (NYSE:WLA) falling 15/16 (-1.00%) to 93 1/16. The hotel and real estate industries converged on Friday as MeriStar Hotels & Resorts (NYSE:MMH), which operates 235 lodging properties, announced that it would acquire BridgeStreet Accommodations (NYSE:BDS), which offers upscale furnished apartments, townhouses and condominiums as an alternative to traditional hotel rooms. The deal is expected to result in MeriStar's leading position in the market for providing temporary housing for executives and business travelers. Shares of MeriStar inched up 1/16 (+2.27%) to 2 13/16, while shares of BridgeStreet soared 29.03% (up 9/16) to 2 1/2. 2. Internet and Tech Stocks For a FREE trial to SmartPortfolio.Com's in-depth analysis of selected Internet stocks, please visit: http://www.smartportfolio.com/freetrial <A HREF="http://www.smartportfolio.com/freetrial"<AOL users click here</A< The Nasdaq had another run up on Wall Street on Friday, leading to more record highs for many Internet and technology stocks during the day's trading session, including Adobe Systems (Nasdaq:ADBE), which closed up 1 5/8 (+1.52%) to 108 3/16, Xilinx (Nasdaq:XLNX), which dropped 1 3/4 (-2.07%) to 82 5/8, and Sun Microsystems (Nasdaq:SUNW), which closed up 2 11/16 (+2.75%) to 100 1/2. Cisco Systems (Nasdaq:CSCO) surpassed Microsoft as the biggest company in the world during Friday's trading session, before Microsoft regained that distinction in a late-day rally. Shares of Cisco closed up 1 9/16 (+2.01%) to 79 3/8, representing a market cap of $550.7 billion, while shares of Microsoft closed down 3/16 (-0.17%) to 111 11/16, representing a market cap of $581.3 billion. In leading Internet stock news, the Financial Times reported on Friday that Yahoo! (Nasdaq:YHOO) and online auctioneer eBay (Nasdaq:EBAY) have resumed the merger talks that had collapsed earlier this month. In early March, analysts noted several strategic benefits that would be derived from a Yahoo-eBay alliance, but indicated that an acquisition of eBay would be extremely expensive for Yahoo. Moreover, questions were raised with respect to why eBay would desire to sell out at a time when its business is thriving. Shares of Yahoo rose 3 (+1.57%) to 194, while shares of eBay jumped 20 3/16 (+9.03%) to 243 3/4. Business-to-business (B2B) news was topped by reports that four major players in the aerospace and defense industry are joining forces to create an online marketplace with B2B powerhouse Commerce One (Nasdaq:CMRC). The joint venture, which includes Lockheed Martin (NYSE:LMT), Raytheon (NYSE:RTNa), Boeing (NYSE:BA) and British Aerospace, is being designed to bring together buyers and suppliers in the industry, allowing them to buy and sell parts and conduct business over the Internet. Following the news, shares of Commerce One jumped 18 11/16 (+9.12%) to 223 11/16, while shares of other B2B players finished the day with mixed results as E.piphany (Nasdaq:EPNY) closed up 6 1/2 (+3.80%) to 177 1/2 and Oracle (Nasdaq:ORCL) gained 1/8 (+0.14%) to 87, while Ariba (Nasdaq:ARBA) dropped 5 15/16 (-2.24%) to 259 9/16, VerticalNet (Nasdaq:VERT) fell 6 9/64 (-3.23%) to 183 7/8 and VerticalNet (Nasdaq:VERT) closed down 6 9/64 (-3.23%) to 183 7/8. The B2B announcement was the latest in a wave of moves by leading companies in various industries to create online marketplaces. It wasn't even the first such deal in the aerospace and defense industry -- last month, United Technologies (NYSE:UTX), Honeywell (NYSE:HON) and i2 Technologies (Nasdaq:ITWO) announced plans to launch MyAircraft.com, an electronic marketplace for aerospace products and services for approximately 25,000 buyers and sellers. In a separate transaction, General Electric (NYSE:GE) recently created a new online exchange that will allow major airlines to buy and sell parts via the Internet. B2B marketplaces also have sprung up in such industries as chemicals, automobile manufacturing, construction and pharmaceuticals, as companies increasingly are seeking to move their supply chains into cyberspace to reduce the paperwork and time involved in purchasing, manufacturing and inventory. The online brokerage sector had a strong day on Wall Street following the statement by U.S. Bancorp Piper Jaffray that it was raising its revenue forecasts for online brokerage giants Ameritrade Holding (Nasdaq:AMTD) and E*Trade Group (Nasdaq:EGRP) as a result of recent unprecedented trading volumes. Shares of Ameritrade gained 2 5/16 (+10.54%) to 24 1/4, shares of E*Trade rose 4 1/8 (+14.80%) to 32, while shares of other online brokerage firms also performed well on the day, with National Discount Brokers Group (NYSE:NDB) rising 5 5/8 (+11.07%) to 56 7/16, Siebert Financial (Nasdaq:SIEB) gaining 1 9/16 (+11.26%) to 15 7/16, Charles Schwab (NYSE:SCH) closing up 3 3/8 (+5.51%) to 64 5/8, Knight/Trimark Group (Nasdaq:NITE) rising 6 5/16 (+11.97%) to 59 1/16, and DLJ Direct (NYSE:DIR) gaining 1 7/16 (+10.04%) to 15 3/4. Other Internet and technology stock movers included: << GoTo.com (Nasdaq:GOTO), which surged 33.17% (up 11 63/64) to 48 7/64 after the Internet search engine company announced on Friday that it logged more than 2 million unique visitors during March 2000 and expanded the number of paying advertisers to more than 25,000. << Xircom (Nasdaq:XIRC), which fell 10.21% (down 4 3/16) to 36 13/16 after the maker of products that connect portable personal computers to telephone systems, networks and the Internet reported that its quarterly earnings would not meet Wall Street expectations. << Wit Capital Group (Nasdaq:WITC), the parent of online investment banking group Wit Soundview, which jumped 29.43% (up 4 7/8) to 21 7/16 after reporting that its first quarter financial results likely will exceed analysts' forecasts. << Compaq Computer (NYSE:CPQ), which fell 1 5/16 (-4.39%) to 28 9/16 on very heavy volume based largely on concerns that the computer company's first quarter earnings may fall short of estimates as a slowdown in corporate spending on PCs during the first quarter might create a revenue shortfall. << Teledyne Technologies (NYSE:TDY), which jumped 14.68% (up 2) to 15 5/8 on continued momentum from Wednesday's announcement by the leading provider of sophisticated electronic and communications products that it has reached an agreement with Lockheed Martin to supply turbine engines for the Joint Air-to- Surface Standoff Missile (JASSM) program. << Power Integrations (Nasdaq:POWI), which sank 39.97% (down 19 11/16) to 29 9/16 one day after the circuit maker reported that it expects its first quarter revenues to fall below expectations. Leading Internet and tech stocks performed as follows: Company $ Change % Change Close Amazon (Nasdaq:AMZN) +5 +7.39% 72 11/16 America Online (NYSE:AOL) +9/16 +0.80% 71 1/16 Commerce One (Nasdaq:CMRC) +18 11/16 +9.12% 223 11/16 Cisco (Nasdaq:CSCO) +1 9/16 +2.01% 79 3/8 CMGI (Nasdaq:CMGI) -41/64 -0.53% 121 5/16 Dell (Nasdaq:DELL) -1 1/16 -1.85% 56 7/16 Ebay (Nasdaq:EBAY) +20 3/16 +9.03% 243 3/4 ExciteAtHome (Nasdaq:ATHM) -2 -6.12% 30 11/16 Exodus (Nasdaq:EXDS) +2 5/16 +1.35% 173 5/16 Intel (Nasdaq:INTC) -3 9/16 -2.50% 139 1/16 Juniper (Nasdaq:JNPR) -1 -0.37% 269 Lucent (NYSE:LU) -5/8 -0.96% 64 5/8 Microsoft (Nasdaq:MSFT) -3/16 -0.17% 111 11/16 Oracle (Nasdaq:ORCL) +1/8 +0.14% 87 Schwab (NYSE:SCH) +3 11/16 +6.02% 64 15/16 Sun Micro (Nasdaq:SUNW) +2 7/16 +2.49% 100 1/4 Qualcomm (Nasdasq:QCOM) +1 7/8 +1.30% 146 Qwest (NYSE:Q) -1 1/8 -2.33% 47 1/4 Yahoo (Nasdaq:YHOO) +3 +1.57% 194 ************************Advertisement************************ ***FREE STOCK QUOTES TO YOUR CELL PHONE*** Receive FREE Stock Quotes, News Headlines, Sports Scores, and Weather Reports to the cell phone or pager that you currently use. No need to purchase additional equipment. Our service is Free! Visit us at http://www.celltrader.com/smartportfolio ***FREE STOCK QUOTES TO YOUR CELL PHONE*** ************************************************************** ************************************************************** TELL OTHER INVESTORS ABOUT SMARTPORTFOLIO.COM The SmartPortfolio.Com team has received hundreds of positive e- mails from our subscribers and, as a result, we are compiling a testimonial section on our Web site for everyone's benefit. If you are interested in having your testimonial appear, please e- mail your comments to Chris McLaughlin, President of SmartPortfolio.Com, at mailto:chrism@smartportfolio.com and please indicate your e-mail address, full name, location and the SmartPortfolio.Com products that you currently are subscribed to (e.g., Free Update, Smart!Splits Report, Smart!IPO Report Smart!LargeCap or Smart!Internet Report). While we will post your name and location, we will post your e-mail address only if you indicate to us that we may do so. *************************************************************** 3. Notable Earnings Announcements There were no notable earnings announcements on Friday. For a calendar of recent and upcoming earnings announcements, please visit: http://www.smartportfolio.com/earnings.asp <A HREF="http://www.smartportfolio.com/earnings.asp"<AOL users click here</A< 4. Notable Upgrades and Downgrades For full coverage of today's upgrades, downgrades and coverage initiations, please click on the appropriate links below: -- Upgrades - http://www.smartportfolio.com/upgrades.asp <A HREF="http://www.smartportfolio.com/upgrades.asp"<AOL users click here</A< Ciena Corp. (Nasdaq:CIEN) was upgraded by Prudential Securities to strong buy from accumulate. Shares of the optical networking company gained 7 11/16 (+4.97%) to 162 3/8. Level 3 Communications (Nasdaq:LVLT) was upgraded by Wasserstein Perella to strong buy from buy. Shares moved up 4 (+3.61%) to 114 7/8. Sherwin-Williams (NYSE:SHW) was upgraded by Donaldson Lufkin & Jenrette (DLJ) to buy from market perform. Shares of the paint company rose 3/8 (+1.71%) to 22 5/16. -- Downgrades - http://www.smartportfolio.com/downgrades.asp <A HREF="http://www.smartportfolio.com/downgrades.asp"<AOL users click here</A< Johnson & Johnson (NYSE:JNJ) was downgraded by several brokerage firms, including Merrill Lynch (from near-term buy to near-term accumulate) and JP Morgan (from long-term buy to market perform). See related story above. Bear Stearns lowered its ratings to neutral from attractive on three movie theatre companies, including AMC Entertainment (AMEX:AEN), Carmike Cinemas (NYSE:CKE), and Loews Cineplex Entertainment (NYSE:LCP). AMC shares lost 1/8 (-2.35%) to 5 3/16, Carmike shares fell 11/16 (-10.00%) to 6 3/16, and Loews shares edged lower by 1/16 (-1.61%) to 3 13/16. -- Coverage Initiations: http://www.smartportfolio.com/initiated.asp <A HREF="http://www.smartportfolio.com/initiated.asp"<AOL users click here</A< Credit Suisse First Boston initiated coverage of 12 auto parts companies, including Gentex (Nasdaq:GNTX) with a strong buy rating and a price target of $50 per share and several companies with a buy rating, including Johnson Controls (NYSE:JCI) with a $72 target, Lear Corp. (NYSE:LEA) with a $43 target, and Tower Automotive (NYSE:TWR) with a $24 target. Gentex shares lost 25/64 (-1.03%) to 37 9/16, Johnson Controls shares fell 2 1/8 (- 3.82%) to 52 1/2, and Lear shares were off 5/16 (-1.16%) to 26 11/16. J.P. Morgan started coverage of two metals companies, Weirton Steel (NYSE:WS) and Ryerson Tull (NYSE:RT), with buy ratings. Weirton shares jumped 9.63% (up 13/16) to 9 1/4 while Ryerson shares fell 7/8 (-5.51%) to 15. Homestore.com (Nasdaq:HOMS) was started by First Union Securities with a buy rating. Shares of the online real estate information provider surged 34.21% (up 12 3/16) to 47 13/16. 5. Stock Splits To obtain the latest information on stock splits, please visit: http://www.smartportfolio.com/splits <A HREF="http://www.smartportfolio.com/splits"<AOL users click here</A< This chart shows the companies that will split their shares during the next 4 business days. The "Pay" column shows the payable date. The "Ex" column refers to the ex-date, the date on which the stock begins to trade at its split-adjusted price. The ratio refers to the number of split shares stockholders will receive (a 2:1 ratio means that stockholders will receive one additional share for each share they already hold). Pay Ex Ann. Split Date Date Company Sym. Date Ratio Mar 24 Mar 27 Pinnacle Systems PCLE Feb 04 2-1 Mar 24 Mar 27 Hauppauge Digital HAUP Feb 10 2-1 Mar 24 Mar 27 London Pacific LDP Mar 13 4-1 Mar 24 Mar 27 Art Tech Grp ARTG Feb 29 2-1 Mar 24 Mar 27 JWGenesis Fincl JWG Feb 16 3-2 Mar 25 Mar 27 California Software CAWC Feb 23 2-1 Mar 27 Mar 28 DiaSys Corp. DIYS Feb 25 2-1 Mar 27 Mar 28 Kenneth Cole KCP Feb 23 3-2 Mar 27 Mar 28 Linear Tech LLTC Jan 18 2-1 Mar 27 Mar 28 Scientific-Atlanta SFA Feb 22 2-1 Mar 27 Mar 28 ViaLink IQIQ Mar 01 2-1 Mar 28 Mar 29 Semitool SMTL Feb 29 2-1 Mar 28 Mar 29 Usinternetworking USIX Mar 03 3-2 Mar 29 Mar 30 Serena Software SRNA Mar 13 3-2 6. IPO Commentary - http://www.smartportfolio.com/ipo <A HREF="http://www.smartportfolio.com/ipo"<AOL users click here.</A< The action in the market today demonstrated how not all IPOs -- even those tech-related -- are created equal. Investors recent love affair with communication/semiconductor stocks continued as Silicon Laboratories (NASAQ:SLAB), a maker of mixed-signal integrated circuits, bolted 123.79%. In contrast however, eMachines (NASDAQ:EEEE), a maker of low-cost computers, fell 8.33%. eMachines is an interesting story because it actually is one of the leading PC manufacturers in terms of total PCs shipped. Its low-cost model, however, clearly did not sit well with investors. Looking ahead to the next few weeks, the IPO pipeline is still stacked. While there are still many quality IPOs expected to come to market, the glut of IPOs will make the top issues slightly more difficult to find. Investors are increasingly scrutinizing business-to-business- and Internet infrastructure- related issues just as they started to with business-to-consumer Internet issues when supply became to much. To find out which of the upcoming IPOs are expected to outperform, please visit http://www.smartportfolio.com/freetrial <A HREF="http://www.smartportfolio.com/freetrial"<AOL users click here.</A< 7. IPOs Trading Friday eMachines Inc (NASDAQ:EEEE) - Provider of low-price branded personal computers. Price: 9 Open: 8 3/8 High: 10 Close: 8 1/4 Change: -3/4 (-8.33%) Etinuum Inc (NASDAQ:ETIN) - Provides an integrated set of strategic, technological, operational and analytical solutions for clients e-commerce and other direct-to-customer sales and marketing initiatives. Price: 12 Open: 12 1/8 High: 13 1/2 Close: 12 3/8 Change: +3/8 (+3.13%) Eprise Corp (NASDAQ:EPRS) - Provides software products and services that enable businesses to manage the information contained on their Web sites. Price: 15 Open: 23 1/2 High: 27 Close: +10 1/4 Change: +10 1/4 (+68.33%) Silicon Laboratories Inc (NASDAQ:SLAB) - Designer and developer of proprietary, analog-intensive, mixed-signal integrated circuits, or ICs, for the communications industry. Price: 31 Open: 64 1/2 High: 79 15/16 Close: 69 3/8 Change: +38 3/8 (+123.79%) Viasystems Group Inc (NYSE:VG) - A worldwide independent provider of electronics manufacturing services, or EMS. Price: 21 Open: 22 High: 23 1/16 Close: 19 5/16 Change: -1 11/16 (-8.04%) *Indicates an Internet related issue. To find out more about which IPOs are expected to outperform, please go to: http://www.smartportfolio.com/freetrial <A HREF="http://www.smartportfolio.com/freetrial"<AOL users click here.</A< ************************Advertisement************************* SONIC FOUNDRY ANNOUNCES 2:1 STOCK SPLIT! Smart!Splits Readers Knew About it Beforehand! Did you? Didn't know that Sonic Foundry (Amex:SFO) was going to announce a stock split today? Subscribers to the Smart!Splits Report were informed of this possibility in last week's report! To find out about the next stock split that can enhance your portfolio, visit: http://www.smartportfolio.com/freetrials <A HREF="http://www.smartportfolio.com/freetrials"<AOL users click here</A< *************************************************************** *************************************************************** PLEASE GIVE US YOUR FEEDBACK If you have any additional information that you would like us to include in our newsletter, any additional functionality added to our website, or any other comments in general, please let us know by clicking on the following link: http://www.smartportfolio.com/feedback *************************************************************** *************************************************************** ADVERTISE IN OUR NEWSLETTER Want to target an attractive demographic representing wealthy, astute, Internet-inclined investors? Please send your advertising inquiries to: mailto:ads@smartportfolio.com *************************************************************** --- You are currently subscribed to update as: sshackl@ect.enron.com To unsubscribe send a blank email to leave-update-25348W@smartportfolio.sparklist.com To change your e-mail address, please visit: http://www.smartportfolio.com/changeIf you are a Smart!Report subscriber, to make changes to your account please visit: http://www.smartportfolio.com/service
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