|
|
Enron Mail |
=09=09=09 C.E. UNTERBERG, TOWBIN =09 =09=09=09 Trader Talk November 9, 2001 =09 =09=09=09 The market soared on the wings of Icarus today? =09 =09=09=09 Market Summary =09 =09=09=09 The market soared on the wings of Icarus today? the European Cent= ral Banks cut their interest rates after we cut ours earlier this week. Wee= kly initial jobless claims were down 46,000, and retail sales were up 2.3%.= The Dow was up 167, the NASDAQ up 51, and the S&P up 20?The market flew to= high to fast and burnt its wing on the sun?The minutes were released from = the FOMC showing the 50 point basis cut was a unanimous decision and laying= the Fed's uncertainty bare. Profit-takers swooped in and the market fell b= ack to earth with the Nasdaq down 9.76 points or 0.53% at 1827.77, the Dow = closing up 33.08 points or 0.35% at 9587.45, and the S&P up 2.73 points or = 0.25% at 1118.53. Tech's winners today were AOL (AOL Time Warner) up 5.7%; = SUNW (Sun Micro) up 5.4%; MU (Micron) up 3.9%, otherwise it was all no chan= ge or red change: Semi Capital: AMAT* (Applied Materials) down 2.4%; KLAC (= KLA-Tencor) down 3.5%; NVLS* (Novellus) down 1.8%; IBM and DELL didn't go v= ery far but HWP (Hewlett Packard) down 4.3%; AAPL (Apple) down 4.5%; GTW (G= ateway) down 3.0%?Outside tech: Autos: GM (General Motors) up 2.4%; F (Ford= ) up 3.0%; DCX (Daimler-Chrysler) up 1.4%?Energy: DUK (Duke Energy) up 4.9%= ; ETR (Entergy) up 3.7%; ED (ConEd) up 1.1%?In the red: BioTech: AMGN (Amge= n) down 3.9%; GENZ (Genzyme) down 2.0%; BGEN (Biogen) down 2.3% -John D= eMaio The CEUT Universe In Semiconductors: GNSS* down 14.1%; SIMG* = up 28.5%; MTLK* up 13.7%?In Optical Networking: GLW down 11.5% In IPOLa= nd VCA Antech, an animal health care service network, has applied for W= OOF to be its ticker symbol for its planned $196 million IPO Earnings = Friday: DRTN; TTIL 0.29 Monday: ABN; CWCI; GILTF -11.31; TSN 0.20 A Y= ear Ago - 11/7/00 40 Years ago today Kennedy narrowly beat Nixon.... wh= ile I write the current Gore/Bush outcome is still not certain... it all co= mes down to Florida - home of Disney World and "Old Sparky" (the nick-name = for the state's electric chair which recently set one prisoners head on fir= e during his execution) - culturally this state is a potpourri - the Northe= rn section is Southern (among it cultural contributions - the rock group Ly= nard Skynard) and the Sourthern section probable has more New Yorkers than = Albany and as many Cubans as Havanna.... W's brother is the Governor but re= member he lost the first time around. Yesterday I quipped that a Gore vict= ory by the electoral college but not the popular vote would be bad for Wall= Street and Main Street. My focus was the disparity between the outcomes. = If Bush wins in the same fashion (not the popular mandate) - it will also = be problem. This hasn't happened since the 19 century when notions of popu= lar sovereignty were different - a vast majority of today's citizens would = have been legally excluded. A vote for the President is the only one shared= by all Americans. It is a personal matter - explanations of victory based = on understanding the 18 century origins of the electoral college, won't was= h. A candidate who wins the election with a minority of votes seems antit= hetical to someone regarded by many people as "the leader of the free world= ". The Nasdaq and the S&P 500 closed where they opened.... was this a= political statement? To quote Lou Reed: "I guess I just don't know and I g= uess I just don't know". Some big names took a breather today (moving less= than 1%): WMT (Walmart) HD (Home Depot) SUNW (Sun) PEP (Pepsi) KO (Coke) I= NTC (Intel) C (Citigroup) MMM (Minnesota Mining and Mineral) DIS (Disney) J= NJ (Johnson & Johnson) and UPS. The Dow mimicked the sentiment by going up = nearly 20 and down over 50 before ending off 25.... In IPOland - Transmeta = - TMTA - was pure TNT - up 115% - haven't seen those kinda #s since dot.com= days of yore - they make a special chip that uses less power. -Bram T= owbin =09 Market Making List * =09 Financing History + =09 Board Seats =3D =09 Advis= ory Assignments =09 =09=09=09 News Highlights =09 =09=09=09 Terrorist camps in Iraq train hijackers, bioterrorists, according= to defectors (NYT) Saudi-binladin-group.com domain name purchased by 30-y= r old web designer from L.A.. First registered 9/11/2000, with a preset ex= piration of 09/11/01. Was expiration date a signal to attackers? (Wired N= ews) FBI believes anthrax mailer is male, nonmuslim, born in U.S., based o= n evaluation of letters (CBS) Japan forecasts economy will shrink 0.9% thi= s fiscal year, worst performance since 1980 Consumer sentiment numbers due= out today at 10 a.m. for October, likely to go down 4-5 points in 9/11 aft= ermath, to 78.4 versus 82.7 previous PPI due out today 8:30 a.m., consensu= s -0.4%, on lower energy and car/truck, cap goods prices. Argenbright Se= curity, largest U.S. airport security firm, has employee turnover of as muc= h as 400% a year in some airports (NYT) Mortgage rates on 30- and 15- year= mortgages hit lowest rates on record this week, at 6.45% for 30-yr and 5.9= 4 for 1`5-year, according to Freddie Mac FCC votes to gradually phase out = spectrum caps, limits on how much of airwaves mobile telephone companies ca= n hold in single market. Lifts spectrum cap in urban markets to 55 mhz imm= ediately, eliminate it completely on 1/1/03, and eliminates 55 mhz limit in= rural areas. Move could spark consolidation in industry; Western Wireless= (WWCA), Dobson (DCEL), Leap (LWIN) mentioned as targets (Reuters). Salo= mon Smith Barney to eliminate 10% of investment bankers (Reuters) NYC lega= l firms suffering from lower wall street deal volume, with 4,200 jobs cut f= rom June to Sept. in NYC, largest decline in 25 years, and many more coming= post 9/11 Soundview receives bid for 40% owned Wit Capital Japan from Ant= factory Japan, joint venture of Nikko Cordial and British internet incubato= r AMD says it will return to profitability by 2Q02, gives 4Q guidance of f= lat to high single-digit revenue growth ICAAN, non profit organization cha= rged by govt to oversee Internet addresses, to discuss Internet Security at= quarterly meeting next week, in response to 9/11 concerns IBM introduces = security software for online B2B transactions, using digital certificates. = Analysts say could be big boost for B2B commerce online (Reuters) Palm CE= O quits, company announces it will split into two businesses: software/hard= ware Charter Communications stuck in #4 slot among cable players, says Str= eet Wise Columnist in Business Week Online BusinessWeek Investing Q&A colu= mn online "The Hot Spots in Software Stocks," features S&P analyst recommen= ding Symantec, Checkpoint , EDS, MSFT, ORCL, ACAD, PAYX, ADP, Electronic A= rts; Veritas, BEA Systems (BEAS), Peoplesoft PSFT as hold because of valuat= ion concerns, ITWO as avoid, J.D. Edwards JDEC as sell Dynegy plan to buy = Enron on hold pending credit review by Moody's. MMO2 PLC, British Telecom'= s mobile phone unit spun off to shareholders valued at $9.43 billion on fir= st trading day, half of forecasts estimated two months ago. C.E. Unterberg= , Towbin's Semiconductor Capital Equipment Silicon Valley Bus Tour Novembe= r 8 & 9: http://unterberg.com/conferences/bustoursignup.asp Birthdays - L= ou Ferrigno, the Incredible Hulk (1952); Mary Travers (Peter, Paul & Mary-1= 936); Carl Sagan (1934); Hugh Hefner (1926); Spiro Agnew (1918) Futures Up= =09 =09=09=09 For a view of how the C.E. Unterberg, Towbin Universe traded - ht= tp://www.unterberg.com/terms/universe.html =09 =09=09=09 The information contained herein is obtained from sources we beli= eve to be reliable but its accuracy and completeness, and that of the opini= ons based thereon, are not guaranteed. C.E. Unterberg Towbin, or one or mor= e of its partners, may have a position in any of the securities discussed h= erein. 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 mention= ed herein. *C.E. Unterberg Towbin makes a market in this security and/or h= as analyst coverage. +C.E. Unterberg Towbin makes a market in this securit= y and has been involved in a recent financing. =09
|