Message-ID: <21557513.1075844538924.JavaMail.evans@thyme> Date: Mon, 7 Feb 2000 09:29:00 -0800 (PST) From: sara.shackleton@enron.com To: sshackl@msn.com Subject: SmartPortfolio.Com Update: Nasdaq Hits Record, Dow Slips Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Sara Shackleton X-To: sshackl@msn.com X-cc: X-bcc: X-Folder: \Sara_Shackleton_Dec2000_June2001_1\Notes Folders\Sent X-Origin: SHACKLETON-S X-FileName: sshackle.nsf ---------------------- Forwarded by Sara Shackleton/HOU/ECT on 02/07/2000 05:28 PM --------------------------- "SmartPortfolio.Com" on 02/07/2000 07:25:50 PM Please respond to "SmartPortfolio.Com" To: Sara Shackleton/HOU/ECT@ECT cc: Subject: SmartPortfolio.Com Update: Nasdaq Hits Record, Dow Slips The following is a FREE service brought to you by SmartPortfolio.Com, located on the Web at http://www.smartportfolio.com AOL users click here Update February 7, 2000 Monday's Market Update: Nasdaq Hits Record, Dow Slips 1. Monday's Market Action 2. Internet and Tech Stocks 3. Notable Earnings Announcements 4. Notable Upgrades and Downgrades 5. Stock Splits 6. IPO Commentary 7. IPO Calendar ************************* Advertisement ****************************** Hot IPOs Ready to Start Trading This Week! This week is another sizzling week for IPOs, with a host of companies ready to make their public debut! Several IPOs profiled in prior issues of the Smart!IPO Report skyrocketed on their public debuts and have continued to surge even after their first days of trading. MetaSolv Software (Nasdaq:MSLV) is a great example - it was profiled in the November 14, 1999 issue of the Smart!IPO Report, before its November 18, 1999 IPO, when shares of the software giant catapulted 189.47%! Today, shares of MetaSolv closed up 6 3/4 (+6.47%) to 111, representing a 101.82% increase from the closing price on its first day of trading. To find out about the next hot IPOs, you are invited to subscribe to a FREE 2-week trial at: http://www.smartportfolio.com/freetrials AOL users click here. *********************************************************************** Need this report sooner? Please remember that you can always read the update on our web site at http://www.smartportfolio.com/update The update is posted at approximately 6:00 PM EST every day. 1. Monday's Market Action $ Change % Change Close Dow Industrials -58.01 -0.53% 10905.79 S&P 500 -0.16 -0.01% 1424.21 Nasdaq +77.63 +1.83% 4321.77 Internet Stock Index +10.86 +1.22% 902.75 The Nasdaq broke out this afternoon to surge to another record high while the Dow closed lower on little news concerning Dow components. The 3-month takeover drama surrounding drug company Warner-Lambert (NYSE:WLA) has finally come to an end on news that Pfizer (NYSE:PFE) will buy Warner-Lambert for roughly $90 billion in stock. The deal will create the #1 U.S. drug company and the second largest in the world, with annual revenues of $28 billion and a research and development budget of $4.7 billion in 2000. Pfizer's Chairman and CEO, William C. Steere, said in a statement: "By combining two world-class organizations to create the fastest-growing major pharmaceutical company in the world, we are positioned for global leadership in the discovery of new medicines that will benefit millions of patients around the world." The deal officially kills Warner-Lambert's previous plans to combine with American Home Products (NYSE:AHP) in a $58 billion merger, but AHP will receive a $1.8 billion "break-up" fee as a result. A "break-up" fee is often used in the merger context to solidify a deal by making it more expensive for a rival suitor to "break-up" the deal. In this case, that is exactly what happened as Pfizer came in to bust the AHP- Warner-Lambert deal, but as a result Pfizer will have to pay the largest break-up fee in history. Pfizer shares rose 15/16 (+2.62%) to 36 11/16 on the news, while Warner-Lambert shares climbed 2 9/16 (+2.71%) to 97 1/8 and AHP shares moved up 2 1/2 (+5.49%) to 48. Other drug stocks finished mixed, with Merck (NYSE:MRK) edging up 3/16 (+0.25%) to 75 1/4, Johnson & Johnson (NYSE:JNJ) slipping 11/16 (-0.84%) to 81 7/16, and Schering-Plough (NYSE:SGP) losing 1/2 (-1.08%) to 45 7/8. There was also a major deal in the chemicals sector today, with two oil giants, Phillips Petroleum Company (NYSE:P) and Chevron Corp. (NYSE:CHV), saying they intend to form a 50-50 joint venture combining their worldwide chemicals businesses, with assets totaling more than $6 billion. Phillips shares added 1 (+2.56%) to 40 and Chevron shares edged up 1/2 (+0.64%) to 79 1/16. In other large cap action, Hewlett-Packard (NYSE:HWP) surged 8.79% (up 10 3/8) to an all-time high of 128 3/8, Intel Corp. (Nasdaq:INTC) rose 3 1/8 (+2.98%) to 107 7/8, Philip Morris (NYSE:MO) ended lower by 1/16 (-0.30%) to 20 9/16, IBM (NYSE:IBM) was off 1 1/2 (-1.30%) to 114 1/8, Eastman Kodak (NYSE:EK) dropped 1 1/4 (-1.98%) to 62, and Tyco Intl. (NYSE:TYC) lost 7/8 (-2.19%) to 39 1/8. In addition, Cisco Systems (Nasdaq:CSCO), which is set to announce earnings tomorrow, closed up 4 1/16 (+3.35%) to 125 3/16. 2. Internet and Tech Stocks For a FREE trial to SmartPortfolio.Com's in-depth analysis of selected Internet stocks, please visit: http://www.smartportfolio.com/freetrial AOL users click here Yahoo! (Nasdaq:YHOO) shares closed up 1/2 (+0.14%) to 354, reversing earlier dips after the online portal's Web site went down starting in the early afternoon EST today. Meanwhile, shares of Charles Schwab (NYSE:SCH), which also reported some problems with its Web site today, also ended higher, up 7/8 (+2.31%) to 38 13/16. Lucent Technologies (NYSE:LU) made a move to enhance its optical networking business by announcing it will acquire Ortel Corp. (Nasdaq:ORTL), a developer of opto-electronic components that help increase the bandwidth (or distribution capacity) of cable television networks, in a stock deal valued at $2.95 billion. Shares of the world's biggest telephone equipment maker fell 1/2 (-0.88%) to 56 1/2 while Ortel shares sank 9 1/16 (-5.12%) to 168 1/16. In other telecom news, AT&T (NYSE:T) and Wireless One Network, L.P. today announced they have reached an agreement for AT&T to buy Wireless One's assets in Florida for an undisclosed amount. AT&T said it expects the assets to fill a strategic gap in its Florida operations. AT&T shares rose 3/4 (+1.48%) to 51 3/8. A major deal was announced in the e-business sector, as Kana Communications (Nasdaq:KANA) said it would acquire Silknet Software (Nasdaq:SILK) in a $4.2 billion deal. Kana is a leading provider of online marketing, sales and service solutions while Silknet provides customer-focused e-business applications and systems. Michael McCloskey, the CEO of Kana, said in a statement: "This combination enables Kana to expand our leadership by providing a web-architected e- business platform and a comprehensive suite of customer-facing applications for marketing, sales and service communications." Kana shares lost 18 3/8 (-7.10%) to 240 1/2 while Silknet Software shares soared 44 13/16 (+32.36%) to 183 5/16. Shares of Corel Corp. (Nasdaq:CORL) fell 11/16 (-3.44%) to 19 5/16 after the software company, which has recently expanded into the Linux sector, said it will acquire Inprise/Borland Corporation (Nasdaq:INPR) in a deal valued at roughly $2.44 billion. Inprise/Borland provides Internet access infrastructure and application development tools and services. Corel's President Michael Cowpland said in a statement: "This merger enables us to offer end-to-end product solutions and global support to all of our shared customers." Inprise/Borland shares gained 5/16 (+2.42%) to 13 1/4. The merger between EarthLink Networks (Nasdaq:ELNKD) and MindSpring Enterprises took effect today after shareholders of both companies approved the planned combination. The merged entity, which retains the EarthLink name, is the country's 2nd-largest Internet access provider with close to 3 million subscribers. EarthLink shares (*Note: new ticker above) were unchanged at 31 7/16. The biotech sector had a strong showing on Wall Street today. Amgen (Nasdaq:AMGN) rose 7.06% (up 4 9/16) to 69 3/16, Human Genome Sciences (Nasdaq:HGSI) surged 26 15/16 (+23.40%) to 142 1/16, Medimmune (Nasdaq:MEDI) gained 12 5/8 (+9.75%) to 142 1/16, Affymetrix (Nasdaq:AFFX) climbed 17 3/4 (+6.52%) to 289 7/8, and Genentech (NYSE:DNA) increased 6 1/2 (+4.51%) to 150 1/2. Biogen (Nasdaq:BGEN) was the exception, however, as its shares fell 7/8 (-0.88%) to 98 1/4. Other big movers in the tech sector included: -- TCSI Corp. (Nasdaq:TCSI), a provider of telecommunications software and services, skyrocketed 124% (up 3 7/8) to 7 on news that 3Com Corp. (Nasdaq:COMS) signed a 4-year agreement with the company. The agreement provides that 3Com will use TCSI Corp.'s Catalant management application and engineering services for its new CommWorks 5000 networking system. -- Virtual Networks (Nasdaq:VNWK) shares dropped 20.61% (down 13 1/16) to 50 5/16 after the maker of systems that manage Internet traffic flow announced plans to acquire Avesta Technologies. -- InterVu (Nasdaq:ITVU) shares rose 10.58% (up 12 3/8) to 129 3/8 after Akamai Technologies (Nasdaq:AKAM) announced plans to acquire the company, which provides services to facilitate the delivery of live video and audio content over the Internet, for close to $2.8 billion. Akami shares lost 6 3/8 (-2.71%) to 228 5/8. -- Applied Micro Circuits (Nasdaq:AMCC) shares jumped 14.93% (up 27 3/4) to 213 9/16 after Credit Suisse First Boston analyst Charlie Glavin reinstated coverage of the chip maker with a strong buy rating and set a $240 price target. -- Sykes Enterprises (Nasdaq:SYKE) shares plunged 20.56% (down 3 11/16) to 14 1/4 after the company reported lower-than-expected fourth quarter earnings and said it would have to restate earnings from recent quarters due to improper revenue recognition. -- TriQuint Semiconductor (Nasdaq:TQNT) shares bolted 14 9/32 (+6.95%) to 219 5/8 on the heels of a strong performance in the semiconductor sector today. Leading Internet and tech stocks performed as follows: Company $ Change % Change Close Amazon (Nasdaq:AMZN) -3 9/16 -4.53% 75 America Online (NYSE:AOL) -9/16 -0.97% 57 1/4 Commerce One (Nasdaq:CMRC) +9 3/4 +6.12% 169 1/8 Cisco (Nasdaq:CSCO) +4 1/16 +3.35% 125 3/16 CMGI (Nasdaq:CMGI) +1 3/8 +1.16% 119 15/16 Dell (Nasdaq:DELL) -7/8 -2.27% 37 5/8 Ebay (Nasdaq:EBAY) +1 1/2 +0.89% 169 9/16 ExciteAtHome (Nasdaq:ATHM) -3/8 -1.01% 36 15/16 Exodus (Nasdaq:EXDS) -7/8 -0.70% 123 5/8 Intel (Nasdaq:INTC) +3 3/16 +3.04% 107 15/16 Juniper (Nasdaq:JNPR) +3 +1.76% 173 Lucent (NYSE:LU) -3/8 -0.66% 56 5/8 Microsoft (Nasdaq:MSFT) +1/16 +0.06% 106 5/8 Oracle (Nasdaq:ORCL) +2 1/8 +3.68% 59 15/16 Schwab (NYSE:SCH) +7/8 +2.31% 38 13/16 Sun Micro (Nasdaq:SUNW) +2 +2.39% 85 3/4 Qualcomm (Nasdaq:QCOM) -4 -2.91% 133 7/16 Qwest (NYSE:Q) +1/4 +0.57% 44 1/8 Yahoo (Nasdaq:YHOO) +1/2 +0.14% 354 ************************ Advertisement ****************************** Sponsored by Investorplace.com Learn options investing in two hours! OPTIONS FOR BEGINNERS will teach you the risks, the rewards, and everything you need to know about options. Bonus report from author Don Fishback even teaches you a simple strategy that won 301 out of 306 trades! Click here for your copy: http://www.enlist.com/cgi-bin/re/www_PPI-ORDERS_com9 ********************************************************************* 3. Notable Earnings Announcements There were no notable earnings announcements today, although a host of big earnings announcements are scheduled for this week. For a calendar of recent and upcoming earnings announcements, visit: http://www.smartportfolio.com/earnings.asp AOL users click here 4. Notable Upgrades and Downgrades For full coverage of today's upgrades, downgrades and coverage initiations, please click on the appropriate links below: -- Upgrades - http://www.smartportfolio.com/upgrades.asp AOL users click here Cisco Systems (Nasdaq:CSCO) was upgraded by Wit Capital/Sound View Technology from buy to strong buy. Shares of the technology giant gained 4 1/16 (+3.35%) to 125 3/16. Manugistics (Nasdasq:MANU) was upgraded by Banc of America Securities from buy to strong buy. Shares of the manufacturer of software for synchronized supply chain management closed up 1 7/16 (+2.62%) to 56 3/8. Praxair (NYSE:PX) was upgraded by Merrill Lynch from near term neutral to near term buy. Shares of the industrial gas industry company rose 5/8 (+1.51%) to 42. Redback Networks (Nasdaq:RBAK) was upgraded by Thomas Weisel Partners from buy to strong buy. Shares of the networking systems company closed up 14 1/4 (+7.16%) to 213 1/4. Royal Dutch (NYSE:RD) was upgraded by Morgan Stanley Dean Witter from neutral to outperform. Shares of the oil and gas corporation edged up 1 1/16 (+2.02%) to 53 9/16. -- Downgrades - http://www.smartportfolio.com/downgrades.asp AOL users click here Basin Exploration (Nasdaq:BSNX) was downgraded by JP Morgan from buy to market perform. Shares of the oil and gas exploration company fell 1 9/16 (-14.71%) to 9 1/16. Hartford Financial (NYSE:HIG) was downgraded by JP Morgan from buy to market perform. Shares of the insurance giant dropped 1 15/16 (-4.63%) to 39 15/16. Donaldson, Lufkin & Jenrette (DLJ) downgraded several steel companies from outperform to market perform, including LTV Corp. (NYSE:LTV), which dropped 7/16 (-13.21%) to 2 7/8, Metals USA (NYSE:MUI), which fell 5/16 (-3.73%) to 8 1/16, Olympic Steel (Nasdaq:ZEUS), which closed down 1/8 (-2.63%) to 4 5/8, Steel Technologies (Nasdaq:STTX), which fell 9/16 (-4.57%) to 11 3/4, and USX U.S.Steel (NYSE:X), which dropped 7/16 (-1.80%) to 23 7/8. -- Coverage Initiations-http://www.smartportfolio.com/initiated.asp AOL users click here Avis Rent-A-Car (NYSE:AVI) was initiated by Salomon Smith Barney with a market outperform rating. Shares of the rental car company fell 5/16 (-1.45%) to 21 1/4. American Dental (Nasdaq:ADPI) was initiated by Salomon Smith Barney with a buy rating. Shares of the dental practice management company rose 7/8 (+10.94%) to 8 7/8. Ciena Corp. (Nasdaq:CIEN) was initiated by Morgan Stanley Dean Witter with an outperform rating. Shares of the fiber optics communications company gained 4 13/16 (+6.37%) to 80 3/8. Constellation Energy Group (NYSE:CEG) was put on the Goldman Sachs recommended list. Shares of the electricity company gained 1/2 (+1.63%) to 31 1/4. Peak International (Nasdaq:PEAKF) was initiated by DLJ with a buy rating. Shares of the supplier of precision engineered packaging products remained unchanged at 13 1/2. 5. Stock Splits To obtain the latest information on stock splits, please visit: http://www.smartportfolio.com/splits AOL users click here This chart shows the companies that will split their shares during the next 5 business days. The "Pay" column shows the payable date. The "Ex" column refers to the ex-date, the date on which the stock begins to trade at its split-adjusted price. The ratio refers to the number of split shares stockholders will receive (a 2:1 ratio means that stockholders will receive one additional share for each share they already hold). Company Pay Ex Ratio Forrester Research (Nasdaq:FORR) 2/7 2/8 2:1 Microchip Technology (Nasdaq:MCHP) 2/7 2/8 3:2 Research Engineers (Nasdaq:RENG) 2/7 2/8 2:1 99 Cents Only Stores (NYSE:NDN) 2/8 2/9 4:3 Qlogic Corp. (Nasdaq:QLGC) 2/8 2/9 2:1 Magic Software (Nasdaq:MGIC) 2/10 2/11 3:1 Broadcom (Nasdaq:BRCM) 2/11 2/14 2:1 Mercury Interactive (Nasdaq:MERQ) 2/11 2/14 2:1 PMC-Sierra (Nasdaq:PMCS) 2/11 2/14 2:1 PSINet (Nasdaq:PSIX) 2/11 2/14 2:1 Real Networks (Nasdaq:RNWK) 2/11 2/14 2:1 Sycamore (Nasdaq:SCMR) 2/11 2/14 3:1 Yahoo! (Nasdaq:YHOO) 2/11 2/14 2:1 6. IPO Commentary The IPO market continues its heavy pipeline this week as 24 issues are expected to begin trading. The theme remains that the Internet infrastructure companies, as well as the business-to-business e- commerce companies, will dominate the action. To find our which IPOs are expected to outperform this week, please go to: http://www.smartportfolio.com/freetrial AOL users click here. 7. IPO Calendar For a calendar of upcoming IPOs and extensive information concerning the IPO market, please visit: http://www.smartportfolio.com/ipo AOL users click here. *Indicates an Internet related issue. *2/8 - BUY.COM Inc (NASDAQ:BUYX) - A leading multi-category Internet superstore, offering a comprehensive selection of brand name computer hardware and peripherals, software, books, videos, DVDs, computer games, music and clearance equipment. *2/8 - FASTNET Corp (NASDAQ:FSST) - An Internet service provider targeting small and medium sized enterprises in selected high growth markets in the mid-Atlantic area of the United States. *2/8 - Organic Inc (NASDAQ:OGNC) - An Internet professional services firm focused on the customer-to-business market. *2/9 - Delano Technology Corp (NASDAQ:DTEC) - Provides communications software that enables companies to use e-mail and the Internet to automate business processes and to personalize and manage interactions with their existing and prospective customers, partners, suppliers and employees. *2/9 - Cypress Communications Inc (NASDAQ:CYCO) - A building-centric integrated communications provider serving small and medium-sized businesses in major metropolitan markets throughout the United States. *2/9 - Lightspan Partnership Inc (NASDAQ:LSPN) - Provider of curriculum-based educational software and Internet products and services used both in school and at home. *2/9 - Vicinity Corp (NASDAQ:VCNT) - Provider of Internet-based marketing infrastructure services. 2/9 - Jeremy's Microbatch Ice Creams Inc (TBA)- Develops, markets and sells super-premium ice cream. *2/9 - Landacorp Inc (NASDAQ:LCOR) - Offers business-to-business e-medical management solutions to healthcare payers and providers. 2/10 - Precis Smart Card Systems Inc (NASDAQ:PSPS) - Develops and markets commercial software products used with a technology commonly referred to as "smart cards." *2/10 - Witness Systems Inc (NASDAQ:WITS) - Provider of recording and analysis software that enables companies to enhance their customer interactions across multiple communications media. *2/10 - XCare.net Inc (NASDAQ:XCAR) - Provider of Internet-based, business-to-business connectivity, information exchange and electronic commerce solutions for health care. 2/10 - Beasley Broadcast Group Inc (NASDAQ:BBGI) - The 16th largest radio broadcasting company in the United States based on 1998 gross revenues. 2/10 - FARGO Electronics Inc (NASDAQ:FRGO) - Developer, manufacturer and supplier of desktop systems and associated consumable supplies for the plastic card personalization and data encoding industry. 2/10 - VantageMed Corp (NASDAQ:VMDC) - Provider of healthcare information systems and services distributed to over 10,000 customer sites through a national network of 15 regional offices. 2/11 - Bio Aqua Systems Inc (AMEX:SEA, SEAW) - Holding company for Tepual, S.A., a Chilean corporation that sells various branded products for animal nutrition, including fish meal, feather meal and krill meal. *2/11 - Chordiant Software Inc (NASDAQ:CHOR) - Provider of e-business infrastructure software. *2/11 - VarsityBooks.com (NASDAQ:VSTY) - Online retailer of new college textbooks and have established a platform for marketing products and services to the nation's 15 million college students. *2/11 - Pets.com Inc (NASDAQ:IPET) - An online retailer of pet products, integrating product sales with expert information on pets and their care. *2/11 - FLAG Telecom Holdings Ltd (NASDAQ:FTHL) - A global carriers' carrier that develops and offers a broad range of innovative telecommunications products and services to licensed international carriers, Internet service providers and other telecommunications companies. *2/11 - VIA NET.WORKS Inc (NASDAQ:VNWI) - An international provider of Internet access and services focused on small and mid- sized businesses in Europe and Latin America. 2/11 - Diversa Corp (NASDAQ:DVSA) - Discovers and develops novel enzymes and other biologically active compounds. 2/11 - NetJewels.com Inc (AMEX:NTJ) - Internet based retailer and wholesaler of jewelry and related products. *2/11 - WebMethods Inc (NASDAQ:WEBM) - Provider of infrastructure software and services that allow companies to achieve business-to- business integration. *2/11 - Lante Corp (NASDAQ:LNTE) - An Internet services company that develops sophisticated technology-based solutions that enable emerging electronic markets. ************************* Advertisement ****************************** Hot IPOs Ready to Start Trading This Week! This week is another sizzling week for IPOs, with a host of companies ready to make their public debut! Several IPOs profiled in prior issues of the Smart!IPO Report skyrocketed on their public debuts and have continued to surge even after their first days of trading. MetaSolv Software (Nasdaq:MSLV) is a great example - it was profiled in the November 14, 1999 issue of the Smart!IPO Report, before its November 18, 1999 IPO, when shares of the software giant catapulted 189.47%! Today, shares of MetaSolv closed up 6 3/4 (+6.47%) to 111, representing a 101.82% increase from the closing price on its first day of trading. To find out about the next hot IPOs, you are invited to subscribe to a FREE 2-week trial at: http://www.smartportfolio.com/freetrials AOL users click here. *********************************************************************** ********************************************************************* PLEASE GIVE US YOUR FEEDBACK If you have any additional information that you would like us to include in our newsletter, any additional functionality added to our website, or any other comments in general, please let us know by clicking on the following link: http://www.smartportfolio.com/feedback ********************************************************************* ********************************************************************* ADVERTISE IN OUR NEWSLETTER Want to target an attractive demographic representing wealthy, astute, Internet-inclined investors? 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