Program: Friday, October 24, 2003
The Frank Quattrone Case Ends In A Mistrial
Carter Holdings Gives Birth To An IPO
"California Crossroads"-Part 3: Schwab CEO David Pottruck
"Market Monitor"-Michael O'Higgins, President of O'Higgins Asset Management
Last Word: The Concorde's Final Flight
Paul Kangas' Stocks In The News
Market Stats
10/23/03:
The Frank Quattrone Case Ends In A Mistrial
SUSIE GHARIB: A federal judge declared a mistrial this afternoon
in the trial of Frank Quattrone, a man who was one of Wall Street's
best known investment bankers. The decision came after jurors said
they were deadlocked on obstruction of justice and witness tampering
charges against Quattrone. Now federal prosecutors must decide whether
to refile the charges, which could send Quattrone to prison for
25 years if he is convicted. As he left the court, Quattrone showed
no reaction and declined comment. But Quattrone's lawyer repeated
his belief in his client's innocence.
JOHN KEKER, QUATTRONE ATTORNEY: Frank Quattrone is a man of integrity
and is a man who has followed the rules. And our feeling at this
point is disappointment.
YASTINE: A hearing is scheduled for November 5 to determine the
next step in the legal process. In the Internet boom of the late
1990s, Quattrone was one of the most influential investment bankers
on Wall Street, with big name clients like Cisco Systems (CSCO)
and Amazon.com (AMZN).
Nightly Business
Report transcripts are available on-line post broadcast. The program
is transcribed by eMediaMillWorks. Updates may be posted at a later
date. The views of our guests and commentators are their own and
do not necessarily represent the views of Community Television Foundation
of South Florida, Inc. Nightly Business Report, or WPBT. Information
presented on Nightly Business Report is not and should not be considered
as investment advice. Copyright (c) 2003 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
10/24/03: Carter Holdings Gives Birth To An IPO
PAUL KANGAS: An initial public offering took center stage on Wall
Street today. Shares of kids' clothing maker Carter Holdings went
public and the stock soared, closing up almost 30 percent. That's
a $5.65 gain, to $24.65. As Suzanne Pratt reports, the Carters deal
comes at a time when the IPO market seems to be toddling toward
recovery.
SUZANNE PRATT, NIGHTLY BUSINESS REPORT CORRESPONDENT: For 138 years,
the Carter name has been synonymous with everything from receiving
blankets to baby bodysuits. And, now the nation's largest brand
of baby clothes has added stock to its layette. By going public,
Carter Holdings has raised $119 million, some of which will be used
to pay off debt. Experts say the Carter IPO was well received in
the market today because it's an established name with a solid outlook
for growth. Others say it was also the right price.
JOHN FITZGIBBON, IPO ANALYST, 123 JUMP.COM: The dealers brought
the IPO public at a discount to the multiples of publicly traded
companies in that sector. This is normal. It's been going on for
years.
PRATT: The Carter deal comes at a time when the IPO market is showing
signs of life. After three very slow years, some say the driest
stretch since the 1970s, activity is finally picking up. According
to Renaissance Capital (RENN), its looks like 12 deals will be priced
this month, the best October since 2000. In fact, most experts agree
the worst is over in the IPO market.
KATHLEEN SMITH, MANAGER, RENAISSANCE IPO PLUS FUND: Substantiation
for that includes the pickup that we're seeing in pricings, in filings.
The backlog of IPOs is beginning to build and the overall stock
market, it looks like to us, is at the beginning of a -- it's in
-- we're in a bull market, the beginning of a cyclical upturn.
PRATT: And there are several solid deals in the pipeline. Next
week, Overnite Transportation and the student loan processor First
Marblehead are scheduled to come to market. In coming months, investors
can look for Motorola (MOT) to spin off its semiconductor business
and for Orbitz and search engine Google to go public. Experts say
the Google and Orbitz deals look much different than the technology
IPOs of the 1990s.
SMITH: Well, here we're going to see these new dot-com IPOs come
out with a much longer track record and earnings that we hadn't
seen prior.
PRATT: Experts say the IPO market is definitely in recovery mode.
But it is nowhere near what was once considered normal activity
for new offerings. To get to that level, we'd need to see something
closer to 30 new deals a month. Suzanne Pratt, NIGHTLY BUSINESS
REPORT, New York.
Nightly Business
Report transcripts are available on-line post broadcast. The program
is transcribed by eMediaMillWorks. Updates may be posted at a later
date. The views of our guests and commentators are their own and
do not necessarily represent the views of Community Television Foundation
of South Florida, Inc. Nightly Business Report, or WPBT. Information
presented on Nightly Business Report is not and should not be considered
as investment advice. Copyright (c) 2003 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
10/24/03:
"California Crossroads"-Part 3: Schwab CEO David Pottruck
JEFF YASTINE: It has been a challenging week for the brokerage firm Charles
Schwab (SCH). Its stock has lost ground, despite news on Tuesday that it
was back in the black in the third quarter.
As we wrap up our special series, California Crossroads, we get an
outlook tonight from the nation's fourth largest brokerage.
Susie Gharib sat down with Schwab CEO David Pottruck and asked for his
take on investor confidence.
DAVID POTTRUCK, PRESIDENT & CEO, CHARLES SCHWAB: Well, I think investors
are becoming much more confident of the market. And I think the reason
for that is that the market is making moves based upon underlying
economic strength. So they read stories each day. They see corporate
profitability go up. They see stories of corporate confidence growing,
investment happening, capital investment, inventories building. So all
of this gives rise to the notion that the market is going up because the
underlying fundamentals are solidifying.
SUSIE GHARIB, NIGHTLY BUSINESS REPORT ANCHOR: Mr. Pottruck, many people
consider the New York Stock Exchange the icon of the U.S. financial
markets. With the whole uproar over everything from the Exchange's
corporate governance to Dick Grasso's pay package, has it shaken
investor confidence?
POTTRUCK: I think people separate Dick Grasso's pay package for -- with
does the New York Stock Exchange help me invest my money fairly,
economically, wisely, reasonably and so forth. So I don't think those
things get intertwined. But I think there's a fundamental frustration
and somewhat of a disgust with this notion of CEO greed, that Dick is
just part of a larger mosaic that embarrasses everybody in the business
community.
GHARIB: I see that Schwab had a pretty good pick up of business in the
third quarter that you reported this week. How much of that is because
the stock market is improving?
POTTRUCK: This third quarter of 2003 is the first quarter we've had a
year on year revenue increase since the second quarter of 2000. And that
is very much a function of the combination of the stock market doing
better and Schwab doing better. Both are happening. So Schwab is
bringing a lot of net new money into the company, over $10 billion in
this quarter, plus the value of the clients' holdings that are up at
Schwab are going up and the environment has encouraged people to trade a
little more. And the combination of all of that results in a $100
million pick up or a $200 million pick up in revenues. And our cost
cutting has brought a lot of that money to the bottom line.
GHARIB: As you know, New York Attorney General Eliot Spitzer continues
to uncover improper trading practices in the mutual fund industry. How
widespread do you think these problems are and what should investors do?
POTTRUCK: I don't think we know the answer yet of how widespread the
practices of late trading are. So all of us are looking very carefully
to see if there are any examples of late trading practices that would be
something that we'd all be embarrassed by. So I don't think we know yet
whether this is a very widespread thing. We will know and the story will
come out, probably over the next month or so.
In terms of what investors should do, there's no reason of why one group
of important hedge funds should be advantaged over the average investor
and a mutual fund. But I don't really think it's a reason for people to
run away from mutual funds or leave the market. I think the overall
impact is relatively small on the average investor's portfolio.
GHARIB: Let's talk a little bit about California. During the recent
recall election, you joined some other prominent CEOs from California
and you wrote this letter saying that California has become one of the
worst places to do business, not only in the United States, but in the
world. Why is California the worst place to do business?
POTTRUCK: What has happened is that our state legislators, our city
legislators here in San Francisco, have passed rule after rule, law
after law, regulation after regulation, that makes it very tough to do
business here in California. And so people move their companies or they
move as many jobs as they can move to other places.
GHARIB: A year from now, what do you think we'll be saying about Arnold
Schwarzenegger's tenure as governor? Will California be a better place
to do business?
POTTRUCK: The question here is whether Governor Schwarzenegger is going
to be able to forge a coalition with an essentially Democratic and
somewhat angry legislature to get new laws and new ways of doing
business passed. So I don't know how successful the governor is going to
be, in spite of how hard he may work at making California a better place
to do business. I have no doubt of his sincerity in wanting to do this.
Whether he will be successful or not, he can't do it alone. I think
we're going to have to wait and see.
GHARIB: Mr. Pottruck, thank you very much.
POTTRUCK: My pleasure.
Nightly Business Report transcripts
are available on-line post broadcast. The program is transcribed
by eMediaMillWorks. Updates may be posted at a later date. The views
of our guests and commentators are their own and do not necessarily
represent the views of Community Television Foundation of South
Florida, Inc. Nightly Business Report, or WPBT. Information presented
on Nightly Business Report is not and should not be considered as
investment advice. Copyright (c) 2003 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
10/24/03:
"Market Monitor"-Michael O'Higgins, President of O'Higgins Asset Management
PAUL KANGAS: My guest market monitor this week is Michael O'Higgins,
President of O'Higgins Asset Management.
And welcome back to NIGHTLY BUSINESS REPORT, Michael.
MICHAEL O'HIGGINS, PRES O'HIGGINS ASSET MANAGEMENT: Thank you, Paul.
Nice to be here.
KANGAS: Great to see you.
You know, for some time, you have been one of the most vocal bears on
the stock market. Has the strong recent rally of recent months changed
your mind at all?
O'HIGGINS: No. On the contrary. It's made me more bearish than ever.
KANGAS: Why? Because it's getting far more overvalued than you thought
it was last time?
O'HIGGINS: The higher it goes, the more overvalued it becomes.
KANGAS: But look at what you've missed. You know, the last time you were
with us in March, the Dow was around 8,500. Now it's testing the 10,000
range. And the NASDAQ Composite was way down at 1,400. Now it's 1,800.
You missed some big moves there.
O'HIGGINS: Yes, but my gold stocks are up even more than that.
KANGAS: Well, that's true. That was the next thing I would mention. You
gave us four gold stocks and, boy, they were winners. Let's have a look
in review.
We see Newmont Mining (NEM), which is the granddaddy of them all. It was
then $24 back in March and now $42. That's up 73 percent. And then, of
course, Gold Corp. has had a rise of about 60 percent. Then you had two
other recommendations, Anglo Gold (AU) at $28 is now bordering $40.
That's at 39 or almost 40 percent gain. And Gold Fields (GFI) was then
$965. It's now $1,503. And that's a 50 percent gain. A lot better than
the average did. So I compliment you on those fine recommendations.
O'HIGGINS: Thank you.
KANGAS: Do you still own the golds or have you taken some profits?
O'HIGGINS: No, I've stayed with them. Gold is still very cheap on a
longer term basis. People forget that gold did very poorly for almost 20
years. And so it's just started to come back up after the last couple of
years.
KANGAS: Why is it attractive to you?
O'HIGGINS: Well, for one thing, it's real money. And when you have the
government threatening to print all the money it can to reflate the
economy, you've got to -- and you have something that traditionally has
had about a 10 to one relationship with the Dow -- in other words, the
Dow has traded about 10 times gold -- right now as we speak the Dow is
26 times gold so.
KANGAS: So that's another reason. All right, now, so you think that the
gold has a -- I mean, do you have a target price in mind over a certain
time frame?
O'HIGGINS: Well, I think it depends on what -- actually, to tell you the
truth, I think gold and the Dow could trade at the same price, which
they did in 1980.
KANGAS: Good point.
O'HIGGINS: The Dow was 850 and gold was $850 an ounce. But,
conservatively, I think that it could go to a long-term median average,
which is 10 to one, which at today's price would put gold at, what, $970
or something like that, $960.
KANGAS: You know, there's something about gold that the major brokerages
don't seem to like. You see very few of them recommending any gold
stocks. One of the few market monitors that's on this program, Jim
Dines, he's been a gold bug now for over a year and a half, two years.
O'HIGGINS: Right.
KANGAS: How come nobody wants to recommend gold except a few of you
people out there in the wilderness?
O'HIGGINS: Well, for one thing, that makes me very happy. When people
agree with me, that's when I get nervous.
KANGAS: I see.
O'HIGGINS: Especially the Wall Street firms. But gold is a -- it's a
very narrow market. It's not a huge large capitalization and it's kind
of a negative thing. Wall Street wants to be always optimistic.
KANGAS: A very good point.
O'HIGGINS: And in bad times they're kind of, you know, betting the wrong
way. But that's how it is.
KANGAS: So, you still own the four that you recommended last time. Do
you have any new suggestions?
O'HIGGINS: Well, I think the, these are -- some of these major stocks
have moved so much that the real value is in the more smaller
capitalization. But they're harder to buy. So I think people would be
better off buying a good no load gold fund.
KANGAS: OK. We just have a minute left so let's have one of these
recommendations.
O'HIGGINS: Well, Tocqueville Gold Fund (TGLDX) is one that I own
personally. I also own Newmont personally in my own account.
KANGAS: OK. Tocqueville has had quite a rise, as most of the gold
stocks. How about another one?
O'HIGGINS: And to short the market I'd use the Rydex Octos Fund, which
goes up proportionately with the NASDAQ 100. As it goes down, this fund
goes up.
KANGAS: OK.
O'HIGGINS: And then there's a -- bonds are cheap at the moment, so I'd
use a Rydex Bond Fund and then I'd have 40 percent in cash, money market
or Treasury bills.
KANGAS: And with these funds, of course, you're getting the advantage of
a lot of diversification rather than just four stocks?
O'HIGGINS: Exactly. And no commissions, really so.
KANGAS: OK. So there you go. He still likes the gold and you own
everything that we've mentioned.
O'HIGGINS: Yes, I do.
KANGAS: Well, I'm afraid our time is up. But we'll look in next time and
see how you've done, about six months from now. Thanks very much, Michael.
O'HIGGINS: Thank you, Paul.
KANGAS: My guest market monitor this week was Michael O'Higgins,
President of O'Higgins Asset Management.
Nightly Business Report transcripts are available
on-line post broadcast. The program is transcribed by eMediaMillWorks.
Updates may be posted at a later date. The views of our guests and
commentators are their own and do not necessarily represent the
views of Community Television Foundation of South Florida, Inc.
Nightly Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright (c) 2003 Community Television Foundation of South
Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
10/24/03:
Last Word: The Concorde's Final Flight
JEFF YASTINE: Finally tonight, the world's only supersonic jetliner,
the Concorde, flew into the history books today. This morning it
took off for the last time from New York's JFK Airport, landing
at London's Heathrow about three hours and 20 minutes later. The
sleek, drop nosed plane is being mothballed because it's too expensive
to fly. Concorde first took to the skies back in 1976, with planners
hoping for hundreds of them. But in the end, only 16 were built,
flown by British Airways (BAB) and Air France. And, Paul, the retirement
of the Concorde obviously marking an end to quite a glamorous era
in aviation history, and a comparatively short one, too.
KANGAS: I was aboard it only one time, and not in flight, on the
ground. But it wasn't very large inside. But it's a shame to see
it go.
YASTINE: Very speedy.
KANGAS: Yes, it was.
Nightly Business Report transcripts are available
on-line post broadcast. The program is transcribed by eMediaMillWorks.
Updates may be posted at a later date. The views of our guests and
commentators are their own and do not necessarily represent the
views of Community Television Foundation of South Florida, Inc.
Nightly Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright (c) 2003 Community Television Foundation of South
Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
10/24/03:
"Paul Kangas' Stocks In The News"
PAUL KANGAS: Wall Street opened broadly lower, undermined by losses
in Microsoft's (MSFT) stock, prompted by the company's less than
upbeat outlook we told you about last night. After an hour of trading
, the Dow was down 70 points, the NASDAQ Index down 27.
Joining the tech sector on the downside were the drug, healthcare
and homebuilding stocks, while the golds were about the only issues
showing strength. By early afternoon, the Dow was off 106 points,
the NASDAQ Index down 40.
The market stabilized and then firmed up on late day bargain hunting.
The Dow Industrial average closed off only 30 2/3 points, putting
it at 9,582.46. This week the Dow rose twice, fell three times,
had a net overall loss of 139 1/3 points, or 1.4 percent. The NASDAQ
Composite lost nearly 20 points, to close at 1,865.59 today. It,
too, rose twice and fell three times this week, losing 46 3/4 points,
or 2 1/2 percent overall.
The Standard & Poor's 500 Index fell 4.86 points, to 1,028.91 today.
Over on the bond market, the 10-year note rose 17/32 to par, pushing
the yield down to 4 1/4 percent.
The most active New York Exchange issue today on 44.2 million shares,
Nortel Networks (NT), down $0.29. The company did report earnings
in the third quarter of $0.04 and Wall Street was just looking for
just break even. But revenues did fall short of Street expectations
and the company said it's going to restate results from 2000 to
the first half of 2003.
Lucent Technologies (LU) down $0.17.
AT&T Wireless (AWE) fell $0.12.
Concord EFS (CE) down $0.39. As we told you yesterday, the Department
of Justice has moved to block the acquisition of Concord EFS by
First Data Corporation.
Sprint (PCS) was down $0.16, fifth in volume.
And then First Data (FDC) down $0.25.
Time Warner (TWX) gained $0.20.
SBC Communications (SBC) rose $0.60.
EMC (EMC) losing $0.03.
And General Electric (GE), tenth in volume, was down $0.09 a share.
AT&T (T) moving up $0.74 on the news that the company has renewed
merger talks with BellSouth.
BellSouth, incidentally, dropped $0.09, to $25.85.
Marsh & McLennan (MMC), the big insurer, down $1.19. The "Wall
Street Journal" reports the company is replacing four of its Putnam
investment managers because they did short-term trades in the very
funds that they oversaw.
Scottish Re Group (SCT), a reinsurance company, down $3.60. Third
quarter operating earnings fell to only $0.02 a share, down from
$0.42 a year ago.
Scientific Atlanta (SFA) a major casualty today, tumbling $6.35.
It did have first quarter earnings sharply higher, $0.28 versus
$0.07 a year ago, but bookings fell 21 percent from the previous
quarter and the Soundview Brokerage downgraded the stock from "outperform"
to just a "neutral" rating.
Gateway (GTW), the computer maker, down $1.48. A third quarter
loss reported of $0.43 a share, much bigger than last year's loss
of $0.15 a share. And the company predicting a fourth quarter loss
of anywhere from $0.09 to $0.15 a share.
Cablevision Systems (CVC) down $1.94. Smith Barney Brokerage downgraded
it from "buy" to "hold" after the company restructured its plan
to spin off its satellite television service.
The Shaw Group (SGR) up $2.10, one of the better percentage gainers.
First Albany Brokerage upgraded it from "under perform" to "neutral"
after a 20 million share offering was priced at $10 a share. And
apparently the demand was quite good.
Crane Company (CR) doing well, up $2. Third quarter earnings better
than expected, $0.47, up from $0.34 a year ago. Sales up a respectable
10 percent. And the Bear Stearns Brokerage upgraded the stock to
"outperform."
And finally we see Newmont Mining (NEM), the granddaddy of the
golds, up $0.75. It traded as high as $42.80. As you may have seen
earlier, New York December gold settled in at $389.20 the ounce,
up $4.20.
The NASDAQ's most active issue, Microsoft (MSFT), down $2.30. That's
an eight percent drop and the loss of $2.30 accounted for 16 1/2
points of the loss in the Dow Industrial Average today.
Intel (INTC) off $0.14.
Cisco Systems (CSCO) fell $0.36.
Amgen (AMGN) moved up $1.73.
And Sina Corp. (SINA) up $4.72. This is a Chinese Internet portal
company and Wells Fargo said it's among its favorites in that group.
Electronic Arts (ERTS) was down $0.44.
Yahoo! (YHOO) a $0.13 gain.
Sohu.com (SOHU) up $4.39. This is a Chinese Internet search engine
and it reported strong third quarter profits and said more of the
same coming in the fourth quarter.
Dell (DELL) a $0.37 loss.
And Netease.com (NTES) was up $5.75, another Chinese Internet portal.
They've been a very strong group recently.
Extreme Networks (EXTR) moved up $1.20 a share. The company in
with first quarter earnings of $0.02 versus a loss of $0.04 in the
same period the prior year.
And then Centillium Communications (CTLM) tumbling $3, almost a
37 percent loss. The company designs broadband products and it reported
third quarter earnings of a $0.01 a share versus a loss of $0.15
last year. But the Adams Harkness Brokerage downgraded the stock
from "strong buy" to "market perform" on concern about near term
prospects for the DSL market.
And Advisory Board Company (ABCO) tumbling $9.58. The company is
a business research firm. Third quarter earnings a little higher,
$0.25 versus $0.20 last year. But revenues tumbled 22 percent and
the Think Equity Brokerage downgraded the stock from "over weight"
to "equal weight."
And those are the stocks in the news tonight.
Nightly Business Report transcripts
are available on-line post broadcast. The program is transcribed
by eMediaMillWorks. Updates may be posted at a later date. The views
of our guests and commentators are their own and do not necessarily
represent the views of Community Television Foundation of South
Florida, Inc. Nightly Business Report, or WPBT. Information presented
on Nightly Business Report is not and should not be considered as
investment advice. Copyright (c) 2003 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
10/24/03:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 9582.46 -30.67 - .3
HIGH 9600.98
LOW 9497.72
NASDAQ COMP. 1865.59 -19.92 -1.1
HIGH 1866.43
LOW 1841.62
VOLUME 1,430.2
PREVIOUS 1,595.2
UP VOLUME 483.1
DOWN VOLUME 920.7
DOW TRANSPORTS 2827.25 -1.27 - .0
DOW UTILITIES 252.74 +.11 + .0
CLOSING TICK -230
S&P 500 1028.91 -4.86 - .5
S&P 100 511.25 -3.63 - .7
MIDCAP 400 532.17 -.80 - .2
REUTERS/CRB 249.34 +.65 + .3
NYSE COMPOSITE 5851.14 -13.19 - .2
VALUE LINE 330.12 -1.89 -0.57
RUSSELL 2000 506.43 -4.06 -0.8
WILSHIRE 5000 9983.5 -45.70 -0.46
U.S. TREASURIES
5-YEAR NOTE 3.125%
Oct. 15,2008 99 28/32 +12/32 3.15
10-YEAR NOTE 4.25%
Aug. 15,2013 100 +17/32 4.25
30-YEAR NOTE 5.375%
Feb. 15, 2031 103 21/32 +36/32 5.12
LEHMAN BROS.
LONG BOND INDEX 1728.54 +18.37
DOW CLOSE 9582.46 -30.67 - .3
ADVANCES 1363
DECLINES 1829
NEW HIGHS 107
NEW LOWS 10
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
NT Nortel Networks 4.15 -.29 -6.5
LU Lucent Tech 2.66 -.17 -6.0
AWE AT&T Wireless 7.25 -.12 -1.6
CE Concord EFS 10.61 -.39 -3.6
PCS Sprint PCS Group 4.25 -.16 -3.6
FDC First Data Corp 36.35 -.25 -.7
TWX Time Warner 15.05 +.20 +1.4
SBC SBC Comms 22.94 +.60 +2.7
EMC EMC Corp 13.15 -.03 -.2
GE GE 28.30 -.09 -.3
NASDAQ CLOSE 1865.59 - 19.92 - 1.1
VOLUME 1,958.0
PREVIOUS 1,937.3
ADVANCES 1241
DECLINES 1871
NASDAQ ACTIVES
MSFT Microsoft 26.61 -2.30 -8.0
INTC Intel 31.08 -.14 -.5
CSCO Cisco Systems 19.80 -.36 -1.8
AMGN Amgen 61.47 +1.73 +2.9
SINA Sina Corp 42.00 +4.72 +12.7
ERTS Electronic Arts 97.57 -.44 -.5
YHOO Yahoo! 40.53 +.13 +.3
SOHU Sohu.com 37.20 +4.39 +13.4
DELL Dell Inc 36.00 -.37 -1.0
NTES Netease.com 64.55 +5.75 +9.8
AMEX CLOSE 1020.77 + 2.42 + .2
INDEX SHARES
DIA DIAMONDS TRUST 96.18 +.23 +.2
QQQ NASDAQ 100 34.23 +.06 +.2
SPY S&P DEP.RECEIPTS 103.58 +.23 +.2
STOCKS IN THE NEWS
T AT&T Corp 19.90 +.74 +3.9
MMC Marsh & McLennan 45.06 -1.19 -2.6
SCT Scottish Re Group 20.26 -3.60 -15.1
SFA Scientific Atl 28.68 -6.35 -18.1
GTW Gateway 4.62 -1.48 -24.3
CVC Cablevision Sys 18.70 -1.94 -9.4
SGR Shaw Group 12.20 +2.10 +20.8
CR Crane Co 26.72 +2.00 +8.1
NEM Newmont Mining 42.24 +.75 +1.8
EXTR Extreme Networks 8.27 +1.20 +17.0
CTLM Centillum Comms 5.16 -3.00 -36.8
ABCO Advisory Board 35.35 -9.58 -21.3