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Enron Mail |
Pre-FOMC and the market is, to quote Joe Cocker, "Feelin' Alright". The Dow
Industrials shot up over100 points in the morning and hovered there to close up over 135. The Nasdaq followed suit in the morning, came in in the afternoon, and rose again in the last hour to close up over 65. The street liked the MO NA deal - MO (Philip Morris) up over 15%; NA (Nabisco Holdings) also in the green - lots of the food stocks joined the party - HNZ (HJ Heinz), DOL (Dole Food), DLM (Del Monte Foods), KBL (Keebler Foods) and RAL (Ralston Purina) all closed in the green. President Clinton mid-day celebration of the completion of the Human Genome mapping had mixed results for the space - CRA (PE CP Celera) down over 12, BGEN (Biogen Inc) down over 4, PDLI (Protein Design) down over 14 while GENE (Genome Therapy), AMGN (Amgen Corp), DNA (Genentech) and IMNX (Immunex) all closed up...Things weren't very chipper with INTC (Intel), MOT (Motorola) and AMD (Advanced Micro Devices) all closing in the red - guess that Celeron news was abit of a yawn. But it wasn't all grim in tech with ORCL (Oracle), SUNW (Sun Microsystems), CA (Computer Associates), AAPL (Apple Computer) all up over 4% and MSFT (Microsoft), DELL (Dell) and IBM up over 2%. There were a couple of tech blow ups with INKT (Inktomi) down over 25 on news that YHOO (Yahoo) isn't using there search engine for the main site anymore - in addition HLIT (Harmonic Inc) pre-announced negatively after the close and is trading down 25% in after hours. In the CEUT Universe - CTAC* (1800 Contacts) continues the climb - up over 2.... BWAY* (Breakaway Solutions) down over 3 1/2... PSEM* (Pericom Semiconductors) down over 3, ZRAN* (Zoran Corp) up 5... CATT (Catapult Communications) up over 10%... JDSU* (JDS Uniphase) up over 2, NT* (Nortel Networks) up over 3... ANCR* (Ancor Communications) up over 3, NTAP* (Network Appliance) up over 5, PRCM* (Procom Tech Inc) up over 3... PROX* (Proxim) up over 2 and GOAM* (Goamerica) up over 2 (over 16%) on the day and continuing to rise in after hours after announcing a deal with HWP (Hewlett-Packard) to use their tech. - Jason Tsai was very bullish on both these names in the morning meeting.... MERQ* (Mercury Interactive) down almost 3, MUSE* (Micromuse) up over 9, VRTS (Veritas Software) up 3...GILTF* (Gilat Satellite) up over 2, GMH* (General Motors H) down over 4, LLL* (3-L Communications) down over 1 1/2, PGTV+ (Pegasus) up over 2... SIMG (Silicon Image) up over 3.... WCII (Winstar Communications) down over 2......... In IPOland - lots coming Tues. - Click Commerce (CKCM) b 2 b e- commerce for manufacturing co. - priced mid-range; Marvell Tech (MRVL) - circuits for comm. markets - priced mid-range; Stratos Lightwave (STLW) broadband optical components - priced above range; eFunds Corp. (EFDS) -electronic debit payment - priced below range/ General feeling is no hike now but who knows come August. European Regulators nix WCOM, FON deal. Webvan buys Homegrocer. Ariba buys SupplierMarket.com Liberty Media joins MSFT to offer high speed access in Japan. Loudcloud - Marc Andreessen's new venture to aid co.s going to net - gets $120 million in new funding. Dow Jones - following NY Times in holding off on net tracking stock (market conditions). Lycos - buys MetroSplash owner of Matchmaker.com. COM21 - broadband access systems - buys BitCom Inc. engineering firm. ATHM (Excite@Home) - new click video service - broadband app to show video content (Atom Films, Mondo Media, Bloomberg, iFilm.....) has animated host "Baily" - girl next door. DCLK - more privacy concerns - collected data on people going to government anti - drug site. MobileLogic (mobile data producer) - buys Katahdin consulting - strategic tech services provider. page 1 WSJ - post mortum on Boo.com VSAT+ - addition to army contract. WSJ Heard - AMZN* - how much is it really worth? AETH - wireless data service deal with MSFT. NPIX - revenue shortfall. Q replaces US West in S&P 500. Scient down 20% as customer goes bankrupt. Freeserve - down over 15% on Deut T news. Consumer Union - doesn't like T purchase of MediaOne. Palm - expansion slot on new models - gadgets coming soon (like Handspring?). INTC - worldwide e-commerce testing labs/ expansion in Israel. Dell - online service to small and med. business - do your e-mail and purchasing services with us. Mattel - selling Cyber Patrol (net filtering). eMotion - $34 million round (dig. media management). Italy's Bipop buying Germany's Entruim - formation of Pan-European online bank. YHOO - over 4% stake in ChinaTimes.com NNDS (soft for pay tv) - software for settop box which monitors your viewing habits - could customize programming for viewer. VC Fund Emicom Group - $57 million VC fund for Israeli telecom and net co. (main US Investor is Divine Inter Ventures also Charles Wang of CA). First Union - dumping Money Store. US Judge to hacker Mitnick - no lecture tour - column must be surpervised. E*Trade - deal with Cahoot (IM software). C. E. Unterberg Towbin: Bill Dering marketing in Boston/ Futurelink Roadshow in San Diego-LA/ Infovista NY-Lunch. There is talk: GTW for MUEI?/ MAIL - good news coming?/ The information contained herein is obtained from sources we believe to be reliable but its accuracy and completeness, and that of the opinions based thereon, are not guaranteed. C.E. Unterberg Towbin, or one or more of its partners, may have a position in any of the securities discussed herein. All rights reserved by C.E. Unterberg Towbin. May not be reproduced in whole or in part without prior written authorization. This report is not an offer to sell or solicitation of an offer to buy the securities mentioned herein. *C.E. Unterberg Towbin makes a market in this security and/or has analyst coverage. +C.E. Unterberg Towbin makes a market in this security and has been involved in a recent financing. _____________________________ Bram Towbin C.E. Unterberg Towbin 10 East 50th Street New York NY 10022 Telephone: 212 572 8163 Fax: 212 759 4032 Btowbin@unterberg.com www.unterberg.com ---------------------------------------------------------------- Pursuant to SEC and NASD requirements, all incoming and outgoing e-mail of C.E. Unterberg, Towbin is subject to review by the Compliance Department. Please note that C.E. Unterberg, Towbin does not allow the use of e-mail to request, authorize or effect the purchase or sale of any security, to send fund transfer instructions, or to effect any other transactions. Any such request, orders or instructions that you send will not be accepted and will not be processed. ================================================================
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