|
|
Enron Mail |
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 05/17/99 11:55
AM --------------------------- Enron Capital & Trade Resources Corp. From: advising@smartportfolio.com 05/14/99 04:30 PM To: chrism@smartportfolio.com cc: (bcc: Sara Shackleton/HOU/ECT) Subject: The SmartPortfolio.Com Update The following free market news and commentary is brought to you by SmartPortfolio.Com, Inc., located on the web at http://www.smartportfolio.com. Please refer this newsletter to your friends who invest online! Just forward this e-mail to them, and they may subscribe by visiting our homepage at http://www.smartportfolio.com or by sending a blank e-mail to smartportfolio-on@mail-list.com. This market update is now read by investors in over 90 foreign countries. ******************************************************* INVESTools Tip Buy Tech Stocks in May, the Best Performing Month Momentum advisor Donald Rowe says May is the best performing month for stocks as pension fund money pours in. Take full advantage of this historic phenomenon by buying Rowe's eight recommended tech stocks which Rowe says are poised to double in the next 12-18 months. Get Rowe's May technology picks with your 30-day FREE trial to The Wall Street Digest online now at: http://www.investools.com/cgi-bin/offer1/WALL/SMART-walltipBf ********************************************** Market News Equity markets were lower across the board amid fears of higher inflation today. The U.S. Department of Labor reported that April's Consumer Price Index (CPI) was up .7%, its largest gain since October of 1990. That news led to a market sell-off, with the Dow Jones Industrial Average closing down 193.87 (-1.75%) to 10913.32, the S&P 500 falling 29.76 (-2.18%) to 1337.8, and the Nasdaq dropping 54.14 (-2.10%) to 2527.86. The 30 year bond was up .17 to 5.911. Financial stocks were hit hard today. JP Morgan (NYSE:JPM) slid 5 13/16 to 140 15/16, American Express (NYSE:AXP) dropped 4 to 120 3/4, and Citigroup (NYSE:C) fell 2 7/16 to 71. Tech bellwethers were also lower, with America Online (NYSE:AOL) down 6 3/4 to 125 7/8 and Intel Corp. (Nasdaq:INTC) down 2 1/16 to 58. AtHome (Nasdaq:ATHM) withstood the market slide and closed up 13/16 to 150 1/8 and was as high as 156 1/2 Friday. The Wall Street Journal reported that Microsoft (Nasdaq:MSFT) will contribute about $5 million to AtHome Solutions, a private venture that helps smaller cable companies bring internet access to their users. Microsoft lost 2 1/4 and closed at 76 7/8. Go2Net (Nasdaq:GNET) was up 2 1/8 to 127 3/16 after announcing that it will purchase IQC.com, an equity tracking service, for $20 million in stock. Go2Net said that it plans to integrate IQC's content into its Silicon Investor web site. Oracle (Nasdaq:ORCL) was up 3.8% (up 7/8) to 23 7/8 after the company reassured analysts at a meeting yesterday; Prudential Securities upgraded the database company from accumulate to strong buy. Dell Computer (Nasdaq:DELL) slid 4.77% (down 2 1/16) to 41 3/16 after Paine Webber downgraded the direct computer maker to neutral from attractive. Dell reports earnings next Tuesday after the closing bell; the First Call consensus estimate is 16 cents per share. Motorola (NYSE:MOT) fell 3.07% (down 2 5/8) to 82 7/8 even after an upgrade from BT Alex. Brown from buy to strong buy, along with a 12-month price target of $100. ING Baring initiated coverage on Micron Technology (NYSE:MU) with a hold rating, saying that manufacturing costs may not decline quickly enough to keep pace with declining DRAM prices. Micron was off 5/8 to 36 15/16. On the data networking front, shares of 3Com (Nasdaq:COMS) were up 7.29% (up 1 15/16) to 28 1/2 on speculation that the company may be purchased by either Lucent Technologies (NYSE:LU) or Ericsson (Nasdaq:ERICY). Lucent was off 2 9/16 to 58 7/16; Ericsson was off 1 3/16 to 26 7/8. 3Com's competitor Cisco Systems (Nasdaq:CSCO) fell 2 1/4 to 115 7/16. Global Crossing (Nasdaq:GBLX) was up 2.29% (up 1 3/8) to 61 3/8 after CNBC's David Faber broke a story that the company may combine, in a merger of equals, with regional bell US West (NYSE:USW), which closed up 2 1/4 to 62 1/4. Faber also reported that Frontier Corp. (NYSE:FRO), a company that Global Crossing is in the process of purchasing, is supportive of the merger. Frontier closed down 4.67% (down 2 3/4) to 56 1/8. IPO News Despite the heavy new issue supply and weak market conditions, internet IPOs continue to outperform. Investors continue to bid up shares of well-known brand names, first movers, and any high-speed internet related issues. Both Nextcard (Nasdaq:NXCD), which offers online credit cards, and Copper Mountain (Nasdaq:CMTN), which provides high-speed internet connections, performed well on their first trading days. In contrast, Intelligent Life, which provides financial content through its website Bankrate.com, failed to impress investors, closing its first trading day unchanged from its offering price. Apparently, investors were not aware of Intelligent Life's internet business due to the lack of media coverage or a ".com" in its name. Issues Expected to Price Next Week *5/18 - Interliant (Nasdaq:INIT) - Provider of a comprehensive suite of hosting and enhanced Internet services. 5/18 - Nextera (Nasdaq:NXRA) - Provides information technology consulting services primarily to Fortune 500 and other multinational companies. Rubio's Restaurants (Nasdaq:RUBO) - Operates 64 quick-service Mexican restaurants in the Southwest. *5/19 - CAIS Internet (Nasdaq:CAIS) - A tier one Internet Service Provider, providing dedicated high-speed Internet connections to commercial and residential customers primarily using digital subscriber line technology and patented OverVoice technology. *5/20 - eToys (Nasdaq:ETYS) - A web-based retailer focused exclusively on children's products, including toys, video games, software, videos and music. *5/21 - IXLEnterprises (Nasdaq:IIXL) - Provides Internet strategy consulting and comprehensive Internet-based solutions to Fortune 1000 companies and other corporate users of information technology. *5/21 - Tenfold (Nasdaq:TENF) - A software and services company that builds and implements large-scale, complex applications rapidly and for a fixed price. 5/21 - David's Bridals (NYSE:DBR) - Chain of bridal stores. *5/21 - @plan - (Nasdaq:APLN) - Provider of market research decision support and planning systems specifically designed for internet advertisers, advertising agencies, and Web publishers. 5/21- Newgen Results Corp. (Nasdaq:NWGN) - Provider of customized, outsourced database management, direct marketing and related services for the service departments of automobile dealerships and automobile manufacturers. Week of 17th - OpTel (Nasdaq:OTEL) - A leading network based provider of integrated communications services, including local and long distance telephone and cable television services, to residents of multiple dwelling units in the United States. New Issues Trading on Thursday and Friday Alloy Online (Nasdaq:ALOY) - Priced at 15 on Thursday, opened at 18 3/8 on Friday, traded as high as 23 3/16 closing at 20, up 5 (33.33%). An Internet destination providing community, content and commerce to Generation Y, the 56 million boys and girls between the ages of 10 and 24. Multi-Link Telecommunications (Nasdaq:MLNK) - Priced at 6 on Friday, opened at 9 1/2 on Friday, traded as high as 9 3/4 closing at 8 3/8, up 2 3/8 (39.58%). Provides integrated voice and fax messaging services for small and medium sized businesses. Nextcard (Nasdaq:NXCD) - Priced at 20 on Thursday, opened at 36 on Friday, traded as high as 40 3/4 closing at 33 1/2, up 13 1/2 (67.5%). Internet-based provider of consumer credit. Scient Corp. (Nasdaq:SCNT) - Priced at 20 on Thursday, opened at 38 3/8 on Friday, traded as high as 41 7/16 closing at 32 5/8, up 12 5/8 (63.13%). Provider of eBusiness services including strategy consulting, customer experience design, systems architecture, and application and technology infrastructure development. Copper Mountain Networks (Nasdaq:CMTN) - Priced at 21 on Wednesday, opened at 68 on Thursday, traded as high as 72 closing at 68 7/16, up 47 7/16 (225.89%). Supplier of high-speed DSL-based communications products for the broadband access market. Intelligent Life (Nasdaq:ILIF) - Priced at 13 on Wednesday, opened at 15 on Thursday, traded as high as 15 closing at 13, unchanged on the day. Provider of independent, objective research regarding consumer banking and credit products and a significant publisher of original editorial content relating to personal finance matters through its internet sites Bankrate.com, theWhiz.com, Consejero.com and CPNet.com and in print through Bank Rate Monitor and Consumer Mortgage Guide Dag Media (Nasdaq:DAGM) - Priced at 6 1/2 on Wednesday, opened at 7 on Thursday, traded as high as 7 closing at 6 1/16, down 7/16 (6.73%). Publisher and distributor of yellow page directories in print and on the world wide web, with its largest directory, The Jewish Israeli Yellow Pages, published bilingually, in English and Hebrew. *********************************** Need questions answered about IPOs? E-mail Marc Stockman at ipo@smartportfolio.com. Marc answers hundreds of e-mails a week and will return your e-mail within 24 hours! For more information on advertising at SmartPortfolio.com, e-mail ads@smartportfolio.com. ------------------------------------------------------------------------------ ----- To subscribe, send a blank message to SmartPortfolio-on@mail-list.com To unsubscribe, send a blank message to SmartPortfolio-off@mail-list.com To change your email address, send a message to SmartPortfolio-change@mail-list.com with your old address in the Subject: line
|