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09/10/04:
Inflation Information Inspires A Comeback
SUSIE GHARIB: Some encouraging news about the U.S. economy: the
government said today that wholesale prices fell slightly in August, a sign
that inflation appears to be under control. Meanwhile, we also learned
today that the nation`s trade gap posted its biggest monthly decline since
December 2001. With Federal Reserve policymakers met to meet again, set to
meet again in just a week and half, Scott Gurvey reports on the likely
implications of today`s data.
SCOTT GURVEY, NIGHTLY BUSINESS REPORT CORRESPONDENT: Prices unexpectedly
declined at the wholesale level in August, easing fears of rising
inflation. The producer price index fell 0.1 percent, reversing the gain
in July. The core rate, excluding food and energy, also fell by 0.1
percent. While the lack of inflation in the PPI was seen as encouraging,
economists noted that most of the decline could be attributed to a drop in
auto prices. There are also signs of inflation farther up the production
chain, with prices of intermediate goods up 1 percent in the month. Still,
the overall levels of inflation remain low.
ROBERT BRUSCA, CHIEF ECONOMIST, NATIVE AMERICAN SECURITIES: When I look at
consumer goods, the core consumer goods without food and energy, what I
find is that the forces of inflation are pretty balanced, and the inflation
rate is about 1.5 percent. So inflation is calm and even where it is
accelerating on a widespread basis, it`s from a very, very low level and
the acceleration is extremely moderate and technical.
GURVEY: In a separate report today, the Commerce Department said the U.S.
trade deficit fell nearly 9 percent in July to just over $50 billion. The
trade gap for June was also revised downward. While the smaller trade gap
was an encouraging sign, the July deficit was still the second highest on
record and the trade deficit is said to be costing the U.S. economy at
least 1.5 million jobs and reducing growth by at least 1 percentage point a
year. Stock and bond markets rallied on the news, with traders seeing
little in today`s reports to change the Federal Reserve`s plans on interest
rates.
RICHARD RIPPE, CHIEF ECONOMIST, PRUDENTIAL EQUITY GROUP: I think the best
guess is that the Fed will stay on a gradual tightening track until it gets
monetary policy back from these extraordinarily accommodative levels,
signified by very low interest rates to somewhat more neutral stance. And
I think that will occur gradually over the next 12 to 18 months.
GURVEY: Next week will come reports on industrial production and in
inflation at the consumer level. 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.
09/10/04:
What Will Eisner's Exit Do To Disney?
SUSIE GHARIB: Michael Eisner has given his two years` notice. The chief
executive of Disney said today that he will be stepping down when his
contract expires in September 2006. Joining us now with some analysis of
what this all means for Disney, Tom Wolzien, senior media analyst at
Sanford Bernstein and Company. Hi, Tom.
TOM WOLZIEN, SR. MEDIA ANALYST, SANFORD C. BERNSTEIN & CO.: Hi, Susie.
Thanks for inviting me.
GHARIB: It`s our pleasure. Now that you`ve had some time to think about it
since this news came out this morning, what`s your analysis of this
announcement?
WOLZIEN: This is a going-forward process for Disney. It was one of the big
questions was would Eisner stick around after this current contract is
renewed? But really, there`s still two questions that remain and they both
need to be answered before we know whether the dissidents will continue to
have a case at Disney. The first question is whether the board of
directors will conduct a very broad-based search, looking across all of
media and entertainment to try to find the best person who is there or
whether they`ll focus down immediately more on the inside of the company.
And the second question is, when you read carefully Eisner`s statement
today, he just says that he`s not going to continue on as CEO when his
contract is over. George Mitchell, the chairman, has indicated that
perhaps he wouldn`t be the chairman forever and so it raises the question
of whether Eisner would shift to the chairman`s position and of course that
would make it perhaps rather difficult to have the broadest choice of
potential CEO candidates.
GHARIB: And speaking of the CEO candidates, a lot of the speculation has
been that it will be Disney president Robert Eiger. Do you think that that
would be, give the confidence of a lot of the investors who have the
concern that there`s so many controversies around Disney, or would Disney
be better off with a fresh face?
WOLZIEN: Disney would certainly be better off by taking a very broad look
across all available people in the sector. Ultimately, it may be Eiger who
is the choice. But for them to start off at the beginning and limit the
choice I think would do investors a disservice.
GHARIB: Now, Calpers, the big pension fund, which has a large stake in
Disney stock, said that they thought it was good that Eisner has made the
decision to move on, but they thought that, they questioned the benefit of
Eisner staying around for another two years. What are your thoughts on
that?
WOLZIEN: Well, it certainly raises the lame duck question and so that
really becomes a board issue of making sure that the board manages this
transition situation, and it also really falls on the subordinate people
within the top management ranks of Disney. These are people who have
always complained, many of them, that Eisner dealt with the company with a
heavy hand. Now they have their chance to shine over the next couple of
years while this choice is being made.
GHARIB: It looked like the stock got a lukewarm reception today from
investors. It was up only $0.30 to $23.16. What do you think it`s going
to take to move the stock?
WOLZIEN: Well, I think we have these two questions I mentioned earlier that
have to get revolved, the question of is this really a very broad search
and secondly, is Eisner going to try to move on to be the chairman or will
the board, hopefully -- logic will prevail at the board and the board will
say well, we can`t really get a great CEO if he`s going to be working for
somebody who has run the company for 20 years.
GHARIB: Tom, what kind of shape is Disney in right now, in terms of its
theme parks, its movies, ABC, its television studios? How`s it doing?
WOLZIEN: It`s a mixed bag. On the plus side, the theme parks have been
coming back, along with the economy, sluggishly, but doing OK. ESPN
continues to do terrifically with its advertising. The consumer products
business has been actually being rebuilt by Andy Mooney (ph) there and is
recovering well. On the downside, you really have two areas. You have ABC,
which is -- continues to be fairly doggy. We`ll find out how it is in the
new season. And you have the problems of the animated business, which ever
since "Lion King" hasn`t really made it.
GHARIB: I`m sorry, got to cut you off. We`ve run out of time. Real
quickly, do you or your firm own any Disney stock?
WOLZIEN: Neither of us own Disney stock. However, Bernstein and his
associates do provide investment management services for Disney.
GHARIB: All right, Tom, thanks a lot, appreciate you coming in on Friday
night.
WOLZIEN: Thank you very much.
GHARIB: We`ve been speaking with Tom Wolzien, senior media analyst at
Sanford Bernstein Company.
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.
09/10/04:
U.S. Airways Takes Evasive Action To Avoid Bankruptcy
PAUL KANGAS: Some of the airline industry`s top analysts say U.S. Airways could
file for bankruptcy as early as Sunday. The cash-strapped carrier renewed
talks with its pilots and flight attendants today in a last ditch attempt
to avoid a second bankruptcy filing. Stephanie Wods reports.
STEPHANIE WOODS, NIGHTLY BUSINESS REPORT CORRESPONDENT: Without
concessions from its unions, U.S. Airways is on a flight path to bankruptcy
court. So far, pilots have balked at the proposed $295 million in wage and
benefit cuts. Management also struck out with flight attendants, the
machinists, and gate and ramp workers. Although talks continue, analysts
hold out little hope for a breakthrough.
DARRYL JENKINS, PROFESSOR, EMBRY RIDDLE AERONAUTICAL UNIVERSITY: It`s
certainly easier for labor leaders to work out an agreement in Chapter 11
because it kind of takes the onus off of them, because they are forced to
do something at that time and it saves their jobs in all candor.
WOODS: A potential new filing would come just a little over a year after
U.S. Airways emerged from bankruptcy. But this filing carries greater
risk for the airline.
PHILIP BAGGALEY, AIRLINE ANALYST, STANDARD & POORS: They don`t have any
unsecured assets that they could use for a debtor in possession credit
facility. And when they look to emergence, they won`t have the Federal
loan guarantee program this time. That program is over and whether they can
attract an outside investor will depend on the success of their strategic
turnaround.
WOODS: Fierce competition from Jetblue and Southwest, along with higher
fuel prices, also make it harder for U.S. Airways this time around. Still,
analysts say U.S. Airways major creditors, GE Capital and the Federal
government, can`t afford to be impatient.
JENKINS: The creditors are going to be very patient on this. Right now
what`s at risk are putting 200 airplanes back on the market, in a market
which is already very, very depressed.
WOODS: But passengers may have other ideas.
MELISSA MORGAN, AIRLINE TRAVELER: I think I might be more apt to book with
a different airline if they were in bankruptcy.
WOODS: But many frequent flyers are taking the potential bankruptcy in
stride.
JIM KING, AIRLINE TRAVELER: I would still fly it. I mean, it all depends
on the prices, the frequency and the times that I could get as far as
flying in and out of places. It wouldn`t change my mind whatsoever.
WOODS: Analysts say there`s no reason for travelers to shy away from U.S.
Airways now. But people considering travel plans more than 90 days out may
want to rethink their options. Stephanie Woods, NIGHTLY BUSINESS REPORT,
Dulles, Virginia.
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.
09/10/04:
The Threat of Hurricane Ivan Does Terrible Things To Florida's Economy
SUSIE GHARIB: Hurricane Ivan is pounding Jamaica tonight, and weather forecasters
are predicting the storm will make landfall somewhere in Florida on Monday
or Tuesday. After Charley and Frances and now with Ivan on the way,
retailers in the Sunshine State are reeling from this storm season. But as
Jeff Yastine reports, there are a few silver linings in the clouds.
JEFF YASTINE, NIGHTLY BUSINESS REPORT CORRESPONDENT: The scenes by now are
all too familiar, as people board up and rush to the stores to buy more
water, batteries and other goods. But those storm-related purchases
haven`t been enough to make up for the disruption to the routines of
millions of consumers and retailers are feeling that pinch. Wal-Mart
blamed hurricane Charley for a drop-off in August sales. Federated
Department Stores reduced its third quarter results by $0.03 to $0.04 a
share. And clothing retailer Chico`s Fas says it closed 60 stores
during the recent storms. Even Federal Signal, which owns a factory making
fire engines in Ocala, and far from the coast, said it expects pretax
losses of more than $1 million for the quarter because of schedule and
power disruptions. And Outback Steakhouse warned it has lost up to $3
million in revenues because of storm-related closings. Industry economists
say they`re still tallying the effect on the sector`s profits.
HUDSON RIEHLE, SR.VP, NATL. RESTAURANT ASSN.: Our studies estimate that
among table service establishments, anywhere from about 20 to 30 percent of
sales are tourism dependent. Within the Florida community, that`s obviously
going to be higher. But the fact is, these operators have encountered these
situations before and when you look at the food suppliers, it really is a
better honed system now than it has been in previous decades.
YASTINE: Ironically, hotels in Florida have weathered the disruptions
relatively well. Losses from the reduced flow of visitors into the region
have been made up for, at least in part, by evacuees and others seeking
shelter from the storms.
NICKI GROSSMAN, CEO, GREATER FT. LAUDERDALE VISITORS & CONVENTION BUREAU:
The day Charley went and we started getting people who were escaping the
southwest area of Florida, we have been at almost 100 percent occupancy in
the western area hotels since Frances left and we`ve had visitors now from
Palm Beach County and from the Keys. We are right now in the destination
close to 95 percent occupied.
YASTINE: Florida-based economists expect the disruptions to tourism and
consumer spending to slow the state`s growth slightly in the third quarter,
but they see a quick revival as winter tourists and rebuilding dollars flow
back into the state. Jeff Yastine, NIGHTLY BUSINESS REPORT, For Lauderdale.
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.
09/10/04:
Market Monitor-Dr. Hans Black, chairman of Interinvest
PAUL KANGAS: My guest market monitor this week is Dr. Hans Black, chairman of
Interinvest, a global money management firm with offices in Switzerland,
Canada, Bermuda and Boston, Massachusetts. Welcome back to NIGHTLY
BUSINESS REPORT Hans.
DR. HANS BLACK, CHAIRMAN, INTERINVEST: Thanks, delighted to be here.
KANGAS: You know, in your constant search around the world to find good
investments, where are you finding the most reasonably priced stocks right
now?
BLACK: We`re actually finding a lot right here in North America, in the
United States and Canada.
KANGAS: What is your view of the U.S. economy here? Apparently that`s one
of the reasons it`s good?
BLACK: The U.S. economy we think is just going to do fine. We`re looking
for four, 4.5 percent GDP growth the second half of the year, maybe even
surprising people a little bit on the upside in the fourth quarter.
KANGAS: How about interest rates? Are they going to make a move higher,
much higher?
BLACK: Well, I think interest rates -- our view of interest rates is that
the yield curve is going to flatten a bit -- that is the short end is going
to move up. We think the Fed is going to do exactly what they`re saying,
that the short end is going to go to 2 percent, the funds rate, early in
2005.
KANGAS: On your last visit with us in November, you were expecting the
dollar to do better than it did. What do you think it`s headed now?
BLACK: We`re positive on the dollar. We think the dollar is cheap in
purchase price, purchase parity price terms. And we also think that the
dollar will continue to perform well over the next six to 12 months.
KANGAS: What are your thoughts on gold, and for that matter, silver, the
precious metals?
BLACK: We`re kind of neutral on silver, but gold we like. We`ve liked gold
for quite a number of years and we think gold here will just do nothing for
a while, bore people for two, three more months and then go higher.
KANGAS: But you would own gold in one form or another, either the stocks or
the bouillons?
BLACK: We do.
KANGAS: OK. On your last visit with us in November, you recommended three
stocks. Let`s take a look at how they did. First of all, we see Schering-
Plough up 26.2 percent. That was a good call. Are you still with it?
BLACK: We are. We think that the stock, a good company, good stock, think
it`s going higher.
KANGAS: And El Paso Corp. did even better, up 29 percent. That was a great
call as well. Still with it?
BLACK: We are. We still like it, still own it.
KANGAS: You would buy these two, even at these levels?
BLACK: Yes, we would still accumulate them.
KANGAS: And do you own them yourself personally?
BLACK: Yes we do, yes we own them.
KANGAS: You made another recommendation that really had a bouncy time and
that was Novell. At one point, it went to 14 after you recommended it
around 8 1/2. Now it`s back to 6 1/2. What do you do with that one?
BLACK: Well, we did some profit taking there early this year, but these
prices we`ve been buying it again. We like the company. We like the
strategy. We like the alliance, the equity investment by IBM. We like the
company a lot.
KANGAS: OK. We actually do have a chart of Novell and since you`re
recommending it again, we thought we`d bring it up there and we can see
it`s had quite a sharp fall recently. So you think it`s at a bottom now
here?
BLACK: Well, you never know when it`s exactly a bottom but we think it`s
good value at these prices. A lot of tech stocks have been damaged severely
since January, February.
KANGAS: OK. Another choice a new recommendation.
BLACK: We like American Power Conversion, which has also been hit a bit.
They missed earnings by a penny, but top line revenue there, growth is
good. We like management. We think the company`s going to do extremely well
over time.
KANGAS: Is this an alternate power type of company? What are they.
BLACK: They do all sorts of things. They provide generation products, fail
safe products and I think it`s just the right, right company in the right
place at the right time.
KANGAS: OK, very good. We have time for another recommendation.
BLACK: We like Biovail which is actually a Canadian company and it also had
some problems. We always sort of look for good companies that have perhaps
had some problems over time, but Biovail had some difficulties in the past
two and a half years. We think they`re turning around. The revenue growth
we think now is stable and growing and the stock sells around 9.5 times
earnings for 2005 so we think very good value.
KANGAS: All right. And you own all these stocks as well?
BLACK: Yes, we do.
KANGAS: OK. We just have 20 seconds left for your thoughts about where oil
is going. Is it topped out?
BLACK: Oil, frankly, our sense is that the price of oil is going to be a
lot lower 12 months from now. I know it`s very much a minority view, Paul,
but we think the price of oil is going down.
KANGAS: Well, we put a great deal of faith in your opinion. Thank you very
much for being with us, Hans.
BLACK: Thank you for having me.
KANGAS: My guest, Dr. Hans Black, chairman of Interinvest.
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.
9/10/04:
"Paul Kangas' Stocks In The News"
PAUL KANGAS: Wall Street`s blue chips moved lower early today as the good news
of that drop in producer prices was offset by Alcoa`s cut in its earnings
forecast and some cautious words from General Motors. In late morning, the
Dow was down nearly 50 points with half of that coming from Alcoa, but
buying in the tech stocks had the NASDAQ Index up 12 points.
A sizable drop in oil prices helped the blue chips make a late day move to
the plus side so the Dow Industrial Average closed up nearly 24 points at
10,313.07. For this shortened week, the Dow fell twice, rose twice, had a
net overall gain of 57.87. The NASDAQ Composite rose 24 2/3 points to
1894.31 today. It fell just once in this four- day week for a net overall
gain of 49.83. That`s 2.7 percent.
The S&P 500 Index gained 5 1/2 points to 1123.92 today. In the bond
market, the 10-year note rose 2/32 to par and 16/32, putting the yield at
4.19 percent.
The most active New York exchange issue on 24 1/2 million shares, Pfizer
(PFE) losing $0.58. The company pulled out of a scheduled Bear Stearns
conference. Pfizer said that was due to a scheduling conflict but some
analysts speculated the company may not meet its earnings guidance.
Qwest Communications (Q) moved up $0.15. The company said it will pay $250
million to settle financial and disclosure fraud charges.
Texas Instruments (TXN) continuing to grow, rise, up another $1.17, rose
nearly $2 yesterday after it boosted its third quarter earnings estimate.
Lucent Technologies (LU) $0.07 gain.
NorTel Networks (NT) up $0.11, fifth in big board volume.
And then Alcoa (AA), the major casualty in the blue chips, that cost, that
loss of $2.54 cost the Dow 18 points. Alcoa said its third quarter earnings
would come in at only $0.30 to $0.35 versus the street estimate of $0.52.
Company cites a strike at its Quebec smelter and some plant closings.
EMC Corporation (EMC) $0.26 gain there.
General Electric (GE) moved up $0.02.
Motorola (MOT) in the strong semiconductor group, up $0.63.
And Nokia (NOK) gained $0.07 after a nice gain yesterday.
Electronic Data Systems (EDS) moving up $0.59 on news the company may cut
15 to 20,000 jobs over the next 27 months in a cost-cutting effort.
Visteon (VC), the auto parts company, down a full $1. The company will
record a third quarter charge related to Ford Motor`s lower than expected
production estimates. The company also withdrew its third quarter and full
year earnings forecast. This had a negative impact on the auto parts
sector. We`ll see some other stocks in there.
American Axle & Manufacturing (AXL) the big loser here.
BorgWarner (BWA), Dana Corporation (DCN) and Delphi Corporation (DPH)
fractionally lower.
Then we see Quiksilver (ZQK), this is a clothing retailer, up $3.27. Third
quarter earnings higher, $0.32 versus $0.21 last year and revenues jumped
34 percent. Company sees fourth quarter earnings up around $0.36 to $0.37 a
share.
And then AnnTaylor Stores (ANN), another retailer of clothing, $1.09 gain.
Piper Jaffray brokerage made positive comments about the company`s upcoming
holiday clothing line.
Volume leader on NASDAQ, Microsoft (MSFT) moving up $0.21.
Intel (INTC) $0.40 gain.
Cisco Systems (CSCO) gained $0.53.
PeopleSoft (PSFT) moved up $1.84. As we reported yesterday, a Federal judge
has ruled that Oracle can go ahead and proceed with its $21 a share buy out
bid for Peoplesoft.
Amgen (AMGN) down $1.76. That was fifth in dollar volume.
eBay (EBAY) moved up $2.16.
Oracle (ORCL) itself up $0.53.
Dell (DELL) $0.32 gain there.
Applied Materials (AMAT) up $0.51.
And tenth in volume was QUALCOMM (QCOM) losing $0.16 a share.
NetSolve (NTSL) a gain of $1.94. Cisco will acquire this company for $11 a
share in cash.
And Artesyn Technologies (ATSN) up $1.69. Bel Fuse made an unsolicited
offer to buy all the stock it doesn`t already own for a value of about
$9.70 a share worth of Bel Fuse stock.
And then over on the American Stock Exchange, American Technical Ceramics
(AMK), this is a manufacturer of electronic components, a real fourth
quarter turn around, earnings of $0.38 versus a loss of $0.03 from the same
period a year ago and sales soared 45 percent.
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.
09/10/04:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10313.07 +23.97 + .2
HIGH 10321.92
LOW 10237.78
NASDAQ COMP. 1894.31 +24.66 +1.3
HIGH 1895.78
LOW 1863.46
VOLUME 1,263.6
PREVIOUS 1,370.6
UP VOLUME 839.9
DOWN VOLUME 414.6
DOW TRANSPORTS 3224.38 +30.57 + 1.0
DOW UTILITIES 292.91 +.79 + .3
CLOSING TICK +726
S&P 500 1123.92 +5.54 + .5
S&P 100 546.25 +2.36 + .4
MIDCAP 400 589.05 +2.37 + .4
REUTERS/CRB 271.61 -1.28 - .5
NYSE COMPOSITE 6568.30 +23.99 + .4
VALUE LINE 359.00 +2.35 + .7
RUSSELL 2000 569.91 +3.73 + .7
DJW 5000 10936.93 +56.93 + .5
U.S. TREASURIES
5-YEAR NOTE 3.375%
Sept. 15,2009 100 15/32 +6/32 + 3.41
10-YEAR NOTE 4.25%
Aug. 15,2014 100 17/32 +3/32 + 4.19
30-YEAR NOTE 5.375%
Feb. 15, 2031 108 20/32 +1/32 + 4.98
LEHMAN BROS.
LONG BOND INDEX 1747.89 +4.45
DOW CLOSE 10313.07 +23.97 + .2
ADVANCES 1997
DECLINES 1289
NEW HIGHS 140
NEW LOWS 11
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
PFE Pfizer 31.86 -.58 -1.8
Q Qwest Comms Intl 3.03 +.15 +5.2
TXN Texas Instrument 21.94 +1.17 +5.6
LU Lucent Tech 3.30 +.07 +2.2
NT Nortel Networks 3.96 +.11 +2.9
AA Alcoa 30.75 -2.54 -7.6
EMC EMC Corp 11.15 +.26 +2.4
GE GE 33.88 +.02 +.1
MOT Motorola 16.69 +.63 +3.9
NOK Nokia 13.84 +.07 +.5
NASDAQ CLOSE 1894.31 + 24.66 + 1.3
VOLUME 1,616.5
PREVIOUS 1,669.4
ADVANCES 1934
DECLINES 1115
NASDAQ ACTIVES
MSFT Microsoft 27.49 +.21 +.8
INTC Intel 20.57 +.40 +2.0
CSCO Cisco Systems 20.46 +.53 +2.7
PSFT Peoplesoft 19.79 +1.84 +10.3
AMGN Amgen 57.30 -1.76 -3.0
EBAY eBay 90.07 +2.16 +2.5
ORCL Oracle 10.46 +.53 +5.3
DELL Dell Inc 36.01 +.32 +.9
AMAT Applied Matl 16.90 +.51 +3.1
QCOM Qualcomm 39.49 -.16 -.4
AMEX CLOSE 1244.27 - .62 - .1
INDEX SHARES
DIA DIAMONDS TRUST 103.20 +.20 +.2
QQQ NASDAQ 100 35.15 +.60 +1.7
SPY S&P DEP.RECEIPTS 113.06 +.58 +.5
STOCKS IN THE NEWS
EDS Electronic Data 20.10 +.59 +3.0
VC Visteon 8.00 -1.00 -11.1
AXL American Axle 32.28 -1.09 -3.3
BWA BorgWarner 44.24 -.60 -1.3
DCN Dana Corp 18.46 -.32 -1.7
DPH Delphi 9.02 -.34 -3.6
ZQK Quiksilver 25.90 +3.27 +14.5
ANN AnnTaylor Stores 25.18 +1.09 +4.5
NTSL NetSolve 10.84 +1.94 +21.8
ATSN Artesyn Tech 9.87 +1.69 +20.7
AMK Amer Tech Ceramics 8.50 +1.86 +28.0
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