Program: Tuesday, November 19, 2003

The Corporate Currency Corruption Goes Global
The Race To Rewrite The Rules For Mutual Funds
FTAA Preview
Retailers Find Revenue By Making The Tween Scene
Money File: The SEC's Role In The Mutual Scandal
Last Word: Dorm Room Appliances 101
Paul Kangas' Stocks In The News
Market Stats

11/19/03: The Corporate Currency Corruption Goes Global

SUSIE GHARIB: First it was corporate fraud, then mutual funds and now currency trading. Federal prosecutors in New York today charged 47 people, including traders from some of Wall Street's best known firms, in connection with foreign currency trading schemes. Officials said that the elaborate fraud bilked investors and top banks out of millions of dollars. Scott Gurvey has more.

SCOTT GURVEY, NIGHTLY BUSINESS REPORT CORRESPONDENT: It looked like a mob movie roundup, but there was nothing usual about these suspects. They thought they were attending a party. Instead, they found themselves in handcuffs, arrested in an FBI sting called Operation Wooden Nickel. Tonight, 47 people are charged with fraud and other offenses in the foreign exchange market. Some of the crimes involve the sale of forex futures contracts to more than a thousand individual investors by high pressure boiler room type firms. The indictments allege in many cases the proceeds were pocketed and the transactions were never made. Others involve the virtually unregulated interbank currency trading market, where as much as a trillion dollars a day is exchanged. Here the banks themselves were victims.

JAMES COMEY, U.S. ATTORNEY, NEW YORK: Corrupt currency traders at large banks such as J.P. Morgan Chase (JPM) or UBS, took payoffs to steer their customers, their employers, their banks, into losing currency trades which were set up by corrupt brokers. The winners in these prearranged trades were more of our defendants, who would rake in the winnings, kicking back a portion of them to the corrupt employees at the banks in the form of payoffs.

GURVEY: The key to these indictments was the work of an unidentified FBI undercover agent who spent 18 months working in the forex markets. The wide range of charges and the overall complexity of Operation Wooden Nickel results, authorities say, from that fact that dozens of offers of illegal activities came the agent's way.

PASQUALE D'AMURO, ASSISTANT DIRECTOR IN CHARGE, FBI NEW YORK: The undercover FBI agent learned that many of the fraudulent activities in the foreign currency exchange markets outlined in the court papers had been ongoing for the past 20 years. In fact, several defendants boasted to the agent that there was no fear of ever having to stop their schemes and frauds because law enforcement would never be capable of getting close enough to stop them.

GURVEY: In the wake of these indictments, some are asking if it is time to increase regulation of forex trading.

RICHARD LEVICH, PROFESSOR OF FINANCE, NYU STERN: I don't think so. I think the market has had a tradition of low regulation, of self regulation. It's an international market. It's a market among large institutions who are skilled, or ought to be skilled in monitoring their own transactions and positions.

GURVEY: The U.S. attorney says the lesson for investors is to be careful. The lesson for corrupt brokers and traders is to keep looking over their shoulders. Scott Gurvey, 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.

11/19/03: The Race To Rewrite The Rules For Mutual Funds

PAUL KANGAS: Cleaning up the mutual fund mess is now a priority on Capitol Hill. Lawmakers in the House put aside their political differences today to quickly pass legislation to help solve the industry's problems. Senators have also promised to take up mutual fund reform, but not until next year. Stephanie Woods looks at the proposed new regulations. The bill is passed.

UNIDENTIFIED MALE: The rules are suspended and the bill is passed.

STEPHANIE WOODS, NIGHTLY BUSINESS REPORT CORRESPONDENT: Lawmakers used the vote to show disgust with mutual fund firms that put their own interests ahead of investors.

REP. RICHARD BAKER, (R-LA), CHAIRMAN, FINANCIAL MARKETS SUBCOMMITTEE: Our systems of checks and balances had broken. It was a system of checks: you write me one, I'll write you one.

WOODS: The legislation passed by the House would ban insiders from short-term trading, give investors more information about fund fees and commissions, and require two thirds of fund board members to be independent. Even though the bill passed with wide support, lawmakers acknowledge this is just the beginning.

REP. BARNEY FRANK (D), MASSACHUSETTS: This a bill that's a good set of steps forward. It's more than a first step, but it's not everything that we should be doing.

WOODS: House members are looking for the Senate to beef up the proposals. One idea is to establish an oversight board for the mutual fund industry. It would be similar to the accounting standards board set up after the scandals at Enron, WorldCom (WCOEQ.OB) and Tyco (TYC).

SALLY GREENBERG, CONSUMERS UNION: We need far more aggressive enforcement. We need some entity to be looking at what's going on and providing the kind of oversight that the SEC failed to provide.

WOODS: Still, the Securities and Exchange Commission may beat lawmakers to the punch. SEC Chairman William Donaldson has promised new rules by the end of the year that would protect mutual fund investors. Stephanie Woods, NIGHTLY BUSINESS REPORT, Washington.

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.

11/19/03: FTAA Preview

SUSIE GHARIB: The Bush administration said today it's still committed to free trade, despite yesterday's move to curb the importation of some textiles from China. But apparently, that policy is upsetting China. Today a Chinese delegation of wheat buyers canceled a buying trip to United States which was planned for later this year. The U.S. wheat industry had hoped that visit would result in a sizable sale to China after years of being closed out of its huge market. Meanwhile in Miami, trade ministers are gathering for tomorrow's formal start of talks to create a free trade zone extending from Canada to Argentina. It's called the Free Trade Area of the Americas. But as Jeff Yastine reports, it's not going to be an easy sell.

JEFF YASTINE, NIGHTLY BUSINESS REPORT CORRESPONDENT: The scenes by now are familiar: heavily armed security officers and tightly controlled access to downtown Miami. Outside that secure zone, opposition groups try to get their point across. And inside, trade ministers are warming up for two days of negotiations to create a giant trading bloc across the Americas, from Canada to Argentina. U.S. Trade Representative Robert Zoellick noted the fractious nature of the talks and the competing viewpoints.

ROBERT ZOELLICK, U.S. TRADE REPRESENTATIVE: So, part of it is a debate, part of it is anxiety, part of it's anxiety that's always related to change.

YASTINE: At opposite sides of the negotiating table are the hemisphere's two biggest economies -- the U.S. and Brazil. Brazil wants the U.S. to cut farm subsidies and create better access to the U.S. marketplace for Brazilian exports, especially agricultural products. Those requests are unlikely to be granted by the Bush administration. But U.S. negotiators want the meetings to finish Friday with some progress, so they' re inking a series of separate bilateral trade pacts with individual nations, like Panama, Columbia and Peru. The side deals may also pressure Brazil to ease its own demands in the trade talks. Underscoring the opposition are groups like the AFL-CIO, which brought its senior leadership to rally support against the free trade pact. Labor leaders say they've heard the arguments before, during the debate over NAFTA, on the benefits of these kinds of trade agreements and they're not buying it.

JOHN SWEENEY, PRESIDENT, AFL-CIO: It's going to be many times worse than NAFTA because the hemis -- it's going to be throughout the hemisphere. And we think that we have raised the focus with our own membership in all of these countries, as well as with the public, about how unfair our trade policies are.

YASTINE: But supporters of free trade say the long-term benefits outweigh the short-term losses.

DAN GRISWOLD, CTR. FOR TRADE POLICY STUDIES, CATO INSTITUTE: Yes, some workers would feel the pinch of opening our markets. But there would be tremendous opportunities. One, U.S. consumers would gain from more competition. And, two, U.S. exporters could export their goods, Caterpillar (NYSE:CAT) earthmoving equipment and Boeing (NYSE:BA) jetliners and U.S. services, which are very competitive, into these markets that have much higher trade barriers in Latin America for our exports than we have here for their exports to the United States.

YASTINE: The U.S. may succeed at negotiating trade deals with individual Latin American countries, but there are still widespread doubts about creating a Free Trade Area of the Americas. In addition to the internal political opposition, foreign analysts say the U.S. has been setting a bad example with controversial tariffs on imported steel and a new quota announced yesterday on imports of textiles from China. Jeff Yastine, NIGHTLY BUSINESS REPORT, Miami.

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.

11/19/03: Retailers Find Revenue By Making The Tween Scene

SUSIE GHARIB: Well, they don't have jobs, but they spend billions of dollars every year. They're what marketers call tweens. These are kids between the ages of seven and 12. And as Diane Eastabrook explains, more and more retailers are now courting this very lucrative crowd, especially when it comes to girls.

UNIDENTIFIED FEMALE: OK. So do you girls want to go shopping?

UNIDENTIFIED GIRLS: Yes

DIANE EASTABROOK, NIGHTLY BUSINESS REPORT CORRESPONDENT: Forget the cake and ice cream. This birthday bash includes serious shopping for lip gloss, glamorous makeovers and girl talk. For Rachel Young, this was the perfect way to celebrate her ninth birthday.

RACHEL YOUNG: I just love all the stuff that I buy here and I thought it would be really fun to have a birthday party here.

EASTABROOK: Here is Club Libby Lu, a 4-year-old chain that targets girls between the ages of seven and 12, better known as tweens. Club Libby Lu mixes entertainment with retailing. Parties that cost mom and dad up to 30 bucks a head lure girls into the stores. But a colorful array of merchandise keeps the kids coming back. Club Libby Lu is the brainchild of Mary Drolet, a former Montgomery Ward executive who saw a hot demographic that wasn't being served.

MARY DROLET, FOUNDER, CLUB LIBBY LU: I think there's less competition in this market. I think that the teenage market is very fickle and difficult to hang onto versus this market, which is a little easier to hang onto.

EASTABROOK: A handful of retailers, including American Girl, Claire's (NYSE:CLE) and Zutopia, are already marketing to tween girls. But others retailers are likely to follow. The numbers tell the story. There are roughly 20 million tweens nationwide. Industry watchers estimate they spend about $10 billion of their own money annually, but they also influence an additional $260 billion in sales. Unlike their older siblings, tweens still have very strong attachments to their parents, and don't mind going shopping with mom and dad. Industry watchers say, for retailers, that can mean big sales.

CHRISTIE NORDHIELM, MARKETING PROFESSOR, NORTHWESTERN UNIVERSITY: They tend to be out shopping together and it's an experience. So really marketing and consuming at this particular age group can actually be part of the whole plus, you know, the whole appeal of purchasing in this area. So actually the act of consumption is a bonding experience between the parent and the child.

EASTABROOK: The success of this Club Libby Lu has spawned nearly two dozen other branches, mostly in the Midwest and South. Luxury retailer Saks (NYSE:SKS) bought the chain last spring and is opening Club Libby Lus in some of its own stores. Saks hopes the concept will attract more traffic into its stores and cultivate a new generation of shoppers. Diane Eastabrook, NIGHTLY BUSINESS REPORT, Schaumburg, Illinois.

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.

11/19/03: Money File: The SEC's Role In The Mutual Fund Scandal

SUSIE GHAIRB: In the Money File tonight, one opinion of the Securities and Exchange Commission's role in the ongoing mutual fund scandal. Here's Chuck Jaffe, Senior Columnist at CBS Market Watch.

CHUCK JAFFE, SENIOR COLUMNIST, CBS MARKETWATCH: The Securities and Exchange Commission cannot be serious about cleaning up the problems in the mutual fund industry. If it was, it would never have agreed so quickly to settle charges against Putnam Investments. Putnam, where the firm allegedly cut special deals for big retirement plans and where a few managers made trades in their own funds that ordinary investors could never have made, got away with the standard we didn't do it and we won't do it again settlement. This is not the resolution investors were hoping for. A quick settlement with no admission of wrongdoing is a huge disappointment. The SEC has been late to the fund scandal party, riding the coattails of New York Attorney General Eliot Spitzer and Massachusetts Secretary of State Bill Galvin in pursuing double dealings where fund management put its own interests ahead of shareholders. To come late and leave early without taking serious action sets a horrible precedent. It tells the fund industry that the federal regulators are happy to sweep the current problems under the rug. Thank goodness Spitzer and Galvin are not so quick to give up. If you own funds, you want the problems affecting the industry to get sorted out, so that when the current scandals go away, you've regained your trust in the business. That won't happen quickly. The folks at the SEC should let the charges percolate and play out, because fast settlements here don't serve anyone but fund management. And that's the last group that deserves special treatment. I'm Chuck Jaffe.

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.

11/19/03: Last Word: Dorm Room Appliances 101

SUSIE GHARIB: And finally tonight, the nation's college dorm rooms are beginning to look a lot like Circuit City (NYSE:CC). A new survey by Miami University shows the average freshman brings 18 appliances to campus. That's computers, color TVs, compact disk players, DVDs, video game consoles, printers, scanners, refrigerators are among the most popular items. Add microwave ovens, cell phone chargers, electric toothbrushes and fans, and you've got huge power bill for the schools. Penn State University, for example, has an electric bill of about $1 million a month. And not all the dorms can handle the power stress. Paul, Maryville College had to build a new dorm last year because if all the residents had turned on their hair dryers in the morning, the circuit breakers would have tripped.

KANGAS: I think that each dorm room maybe should have its own electric meter. That would cut down on it a little bit.

GHARIB: I have to say, as a mother of a daughter who is a freshman, those 18 appliances, that is absolutely true. But I think that's why we pay these large tuition bills, too.

KANGAS: And if they don't do that, look for higher tuition costs.

GHARIB: Yes. Oh, dear.

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.

11/19/03: "Paul Kangas' Stocks In The News"

PAUL KANGAS: Stocks on Wall Street edged steadily higher in early trading, as bargain hunters were active after four straight losing sessions. The market also rose on news of a stronger than expected 2.9 percent rise in October new housing starts to a 17 year high. After 90 minutes of trading, the Dow was up 48 points, the NASDAQ up 10. By reaffirming previous earnings guidance, General Electric (NYSE:GE) helped the Dow stay higher, as did news that it may boost its $0.20 quarterly dividend by a $0.01. In early afternoon, the Dow was up 48 points, the NASDAQ up 12. A recovery in the dollar boosted the Dow to as much an 80 point mid afternoon gain, but things faded from there on, so the Dow Industrial Average closed up only 66.30, at 9,690.46. The NASDAQ Composite came in with a gain of 17.90, at 1,899.65. The Standard & Poor's 500 Index gained about 8 1/4, to close at 1,042.44. Over on the bond market, the 10-year note slipped 24/32, to par and 3/32, lifting the yield to 4.24 percent.

The New York Exchange's most active issue, General Electric (NYSE:GE), trading 29.5 million shares, up $1.03 a share. After the close yesterday, incidentally, G.E. announced it'll spin off through an

IPO 30 percent of its mortgage and life insurance unit. It's going to be called Genworth Financial. And, of course, the company today reaffirmed 2003 earnings guidance of $1.55 to $1.57, and as I mentioned, they might just boost their dividend by a $0.01 a share quarterly, up to $0.20.

Lucent (NYSE:LU), a $0.05 gain there.

Pfizer (NYSE:PFE) moved up $0.24.

AT&T Group (NYSE:AWE) down $0.03. The company is planning to lay off over 10 percent of its 30,000 workforce over the next year and it will outsource most of those jobs.

Sprint PCS Group (NYSE:PCS) was up $0.06, fifth on big board volume.

Then ExxonMobil (NYSE:XOM), a $0.29 gain.

NorTel Networks (NYSE:NT) edged up $0.06.

And then Citigroup (NYSE:C) a $0.38 rise.

Time Warner (NYSE:TWX) dropped $0.02.

And Charles Schwab (NYSE:SCH) down $0.08 on news it's going to acquire Soundview Technology Group (NASDAQ:SNDV) for $15.50 per share in cash. We'll see that shortly.

Hewlett-Packard (NYSE:HPQ) moved up $0.52. And just after the close, it reported fourth quarter earnings of $0.36, up from $0.24 a year ago, and a $0.01 better than the Street expectation. And revenues were much bigger than expected, at $19.9 billion. The Street was looking for only $19 billion. After hours trading, the stock got as high as $22.85 a share. So it moved up a bit.

Johnson & Johnson (NYSE:JNJ), another Dow stock, up $0.32 today. The company plans a reorganization. It'll cut costs and a modest number of jobs in order to free up money for new drug development.

Guidant (NYSE:GDT) up $2.48. The company forecasting 2004 earnings of $2.40 to $2.55. That's well above the Street estimate of $2.28. It says defibrillator sales are doing very well, indeed.

UnitedHealth Group (NYSE:UNH) rising $2.48. The company sees 2003 earnings growth of 37 percent. They'll rise to $2.91 a share, up from $2.13 last year, and the company forecasts 2004 earnings up $3.60 a share. The Street estimate is only $3.54.

Analog Devices (NYSE:ADI) gained $1.70. Sharply higher fourth quarter earnings, $0.23 versus $0.09 last year. And the company sees first quarter coming in at $0.27 to $0.28. It also declared a $0.04 cash dividend. Needham Brokerage upgraded the stock from "buy" to a "strong buy."

On the down side, Jabil Circuit (NYSE:JBL) down $0.49 on the close. It traded as low as $25.80 this morning, after Morgan Stanley downgraded it from "equal weight" to "under weight."

Then Talbots (NYSE:TLB) moving up $1.17. Third quarter earnings $0.60, down from $0.63 last year, but a $0.01 above the Street expectation. First Albany Brokerage issued a "buy" recommendation.

Ionics (NYSE:ION) up $1.75, positive reaction to the fact the company's in a definitive agreement to acquire privately held Ecolochem, I believe it's pronounced. The deal is for cash and stock worth $338 million.

And finally Saks (NYSE:SKS) up $0.90 a share. Yesterday, the company had third quarter earnings $0.09, versus only a $0.01 the year before, $0.06 above the Street estimate. Today, Lazard upgraded it from "hold" to "buy."

The NASDAQ's most active, Intel (NASDAQ:INTC), moved up $0.68.

Followed by Microsoft (NASDAQ:MSFT), a $0.20 rise there.

Electronic Arts (NASDAQ:ERTS) down $1.82. J.P. Morgan has made cautious comments about the video game industry.

Yahoo! (NASDAQ:YHOO) was up $1.26.

And so was Amgen (NASDAQ:AMGN), fifth in dollar volume on NASDAQ.

eBay (NASDAQ:EBAY) gained $1.93.

Cisco (NASDAQ:CSCO) a $0.32 rise.

Nextel Communications (NASDAQ:NXTL) gained $0.30.

Applied Materials (NASDAQ:AMAT) a $0.40 rise.

And then tenth in volume, Amazon.com (NASDAQ:AMZN), rising $1.03 per share.

Network Appliance (NASDAQ:NTAP) down $2.16. After the close yesterday, the company came in with second quarter earnings excluding items of $0.09. That was sort of inline with the Street estimate. But a number of analysts were looking for an up side surprise and didn't get it.

Soundview Technology Group (NASDAQ:SNDV) up $2.16. As I mentioned earlier, Schwab (NYSE:SCH) is going to acquire it for $15.50 per share in cash. It's almost there.

And Daktronics (NASDAQ:DAKT) up $2.11. Second quarter earnings nicely higher, $0.34 versus $0.21 last year, and $0.13 better than the Street estimate. The company predicting third quarter $0.09 to $0.16. The Wall Street estimate is only for $0.10.

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.

11/19/03: Market Stats

   
                                      NET    PERCENT
                         CLOSE     CHANGE     CHANGE
DOW CLOSE              9690.46     +66.30       + .7
HIGH                                         9707.64
LOW                                          9614.24

NASDAQ COMP.           1899.65     +17.90       +1.0
HIGH                                         1903.43
LOW                                          1880.31

VOLUME                                       1,322.2
PREVIOUS                                     1,313.7
UP VOLUME                                      845.3
DOWN VOLUME                                    458.3

DOW TRANSPORTS         2866.87       -.08      unch.
DOW UTILITIES           246.20      +2.73      + 1.1
CLOSING TICK                                    +163

S&P 500                1042.44      +8.29       + .8
S&P 100                 516.82      +4.60       + .9
MIDCAP 400              549.26      +2.17       + .4
REUTERS/CRB             251.92      -3.45      - 1.4

NYSE COMPOSITE         5967.13     +28.08       + .5
VALUE LINE              339.81      +1.81       0.54
RUSSELL 2000            525.62      +3.94       0.76
WILSHIRE 5000         10155.98     +73.14       0.73

U.S. TREASURIES
5-YEAR NOTE 3.375%
Nov. 15,2008         100 23/32     -15/32       3.22

10-YEAR NOTE 4.25%
Nov. 15,2013         100  3/32     -24/32       4.24

30-YEAR NOTE 5.375%
Feb. 15, 2031        104  8/32    -1 9/32       5.09

LEHMAN BROS.
LONG BOND INDEX        1729.69     -10.12


DOW CLOSE              9690.46     +66.30       + .7
ADVANCES                                        1933
DECLINES                                        1298
NEW HIGHS                                        139
NEW LOWS                                          11

                                      NET    PERCENT
NYSE MOST ACTIVES    4PM CLOSE     CHANGE     CHANGE
GE     GE                29.47      +1.03       +3.6
LU     Lucent Tech        3.08       +.05       +1.7
PFE    Pfizer            34.42       +.24        +.7
AWE    AT&T Wireless      6.58       -.03        -.5
PCS    Sprint PCS Group   4.15       +.06       +1.5
XOM    Exxon Mobil       35.44       +.29        +.8
NT     Nortel Networks    4.10       +.06       +1.5
C      Citigroup         45.94       +.38        +.8
TWX    Time Warner       15.50       -.02        -.1
SCH    Charles Schwab    11.34       -.08        -.7

NASDAQ CLOSE           1899.65    + 17.90      + 1.0
VOLUME                                       1,802.2
PREVIOUS                                     1,902.6
ADVANCES                                        1869
DECLINES                                        1312

NASDAQ ACTIVES
INTC   Intel             32.52       +.68       +2.1
MSFT   Microsoft         25.35       +.20        +.8
ERTS   Electronic Arts   44.10      -1.82       -4.0
YHOO   Yahoo!            39.27      +1.26       +3.3
AMGN   Amgen             60.10      +1.26       +2.1
EBAY   eBay              53.04      +1.93       +3.8
CSCO   Cisco Systems     22.05       +.32       +1.5
NXTL   Nextel Comms      23.09       +.30       +1.3
AMAT   Applied Matl      23.43       +.40       +1.7
AMZN   Amazon.com        49.53      +1.03       +2.1

AMEX CLOSE             1068.76     - 3.82       - .4

INDEX SHARES
DIA    DIAMONDS TRUST    97.38       +.78        +.8
QQQ    NASDAQ 100        34.17       +.29        +.9
SPY    S&P DEP.RECEIPTS 104.72       +.88        +.9

STOCKS IN THE NEWS
HPQ    Hewlett-Packard   22.17       +.52       +2.4
JNJ    Johnson & John    52.26       +.32        +.6
GDT    Guidant           55.06      +2.48       +4.7
UNH    Unitedhealth      51.58      +2.48       +5.1
ADI    Analog Devices    46.59      +1.70       +3.8
JBL    Jabil Circuit     27.29       -.49       -1.8
TLB    The Talbots       31.67      +1.17       +3.8
ION    Ionics            30.25      +1.75       +6.1
SKS    Saks              15.69       +.90       +6.1
NTAP   Network Appliance 21.27      -2.16       -9.2
SNDV   Soundview Tech    15.41      +2.16      +16.3
DAKT   Daktronics        17.74      +2.11      +13.5