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14:51 ET i2 Technologies (ITWO) 22.11 -0.69 (-3%) : Announced that both Barnes and Noble (distribution) and Kraft Foods (supplier
management) have selected ITWO solutions.
14:33 ET NVIDIA Corp (NVDA) 88.49 -5.36: Stock fell sharply in recent action; hearing vague trading floor rumors that the company
has seen order push-outs from Asia; stock has already bounced off the 86.68 low seen in the initial sell-off.
14:31 ET Sector Watch: Oil Service : Sector index (at 122) works back to unchanged levels but is being stymied by its 50 day simple ma
(122.2). Individual issues facing resistance at their respective 50 or 200 day ma are SLB (62.5), NBR (55.6), NE (45.1), HAL (42) and
RIG (50.1).
14:19 ET National Semi (NSM) 25.77 -0.42: Sources at Banc of America Securities telling us that the firm made negative comments
about NSM; believes that they are likely to preannounce and cut 10% of their workforces after the close today.
14:01 ET Juniper Networks (JNPR) 57.32 +0.24: -- Update -- Stock has been a battleground today; opened higher along with the rest
of the telecom equipment sector but was hit by Morgan Stanley comment that it had lost business to Cisco at Global Crossing. Heard talk
from sell-side in both directions after that: JNPR was still gaining market share vs CSCO or that CSCO was battling back; now seeing a
solid recovery in Juniper's stock which is being driven by the large short position in the stock.
IDEC Pharm (IDPH) 53.09 +0.13: Biotechnology company announces that is has received a Complete Review letter from the FDA
following the agency's review of their Biologics License Application for ZEVALIN. Company will hold a webcast on May 10th, to discuss
the Company's strategy for response; see press release.
Insight Comms (ICCI) 26.90 -0.13: This afternoon, Buckingham Research reiterates STRONG BUY; cites solid Q1 results, expects
revenue gains should accelerate over the coming quarters.
Managed Care Investor Conferences : This afternoon, UBS Warburg says they expect to hear upbeat presentations next week from
HealthNet (HNT), WellPoint (WLP) and Sierra Health (SIE). Expects Wellpoint's investor conference to potentially provide a short-term
boost to the stock; says with better enrollment growth prospects, expects HNT's discount to the group could begin to narrow and rate
stock BUY.
i2 Technologies (ITWO) 22.04 -0.76: Earlier today, AG Edwards initiates coverage with a MAINTAIN POSITION; cites valuation;
feels that the supply chain management space will continue to grow rapidly and that i2, as the market leader, will continue to benefit from
that growth; however, believes shares are fairly valued at current levels; on PE basis, shares trading at 100x multiple of firm's 2002 EPS
estimate.
Hewlett-Packard (HWP) 27.13 -0.54: Computer and printer maker announces ousourcing allinace with Accenture; the two firms will
focus on migrating legacy mainframe applications to next generation architectures and platforms as well as supporting "backwards"
integration with legacy applications; see press release.
15:00 ET Dow -52, Nasdaq +13, S&P -4.16: [BRIEFING.COM] Seeing a modest turnaround in the Nasdaq, as it's at its highest level
since the first hour of trading. Chips are participating in recent buying despite negative comments from Banc of America on National Semi
(NSM 24.99 -1.20). That firm expects the company to preannounce and cut 10% of their workforces after the close today....CLECs
have rebounded off their lows after bad news from Time Warner Tcom (TWTC 44.62 -3.38) which said that its growth rate may slow due
to a softening economy and increasing customer bankruptcies....Hotel stocks are among the weakest sectors today. Robertson Stephens
is cautious on MAR saying that earnings ests. will be coming down citing weak trends in leisure and business travel; also, the firm sees very
little upside over next six months. Note is dragging down Four Seasons (FS 57.77 -2.61)...Grocery stocks still weak despite strong
performance by Whole Foods (WFMI 51.12 +4.02), which was upgraded by Merrill Lynch. SOX +0.6%... NYSE Adv/Dec 1520/1473...
Nasdaq Adv/Dec 1954/1784.
14:35 ET Dow -67, Nasdaq +3, S&P -6.16: [BRIEFING.COM] It seems as if the air is out of the market. The Nasdaq has been 10
points plus/minus the flat line for most of the session awaiting the Cisco release. Briefing.com will be on the call at 4:45 ET, so be sure to
monitor our Short Stories page for Live Updates...Techs, in general, continue to drift sideways, but the SOX Index is testing its session lows
again....Finanicals continue to weaken on the downgrade of American Express (AXP 40.79 -2.44)...Oil services sector index (at 122)
works back to unchanged levels but is being stymied by its 50 day simple ma (122.2). SOX -0.0%... NYSE Adv/Dec 1457/1517...
Nasdaq Adv/Dec 1896/1809.
14:00 ET Dow -57, Nasdaq +6, S&P -4.55: [BRIEFING.COM] The Nasdaq continues to be lackadaisical ahead of Cisco's earnings
release after the bell. Market is expecting a positive report and conference call given the 35% share appreciation over the past week....Intel
(INTC 31.13 -0.03) slipping to lows of the day; latest round of selling said to be based on news that company has cancelled its May 16
appearance at the CIBC Electronics Conference; Intel says it's due to conflict in schedule....Gliding below the radar screen today is
small-cap Purina Mills (PMIL 17.65 +0.30), the nation's largest producer of animal nutrition products. PMIL has received an acquisition
proposal from a third party, but no details....Overall, techs remain mixed today while tobacco, retail, hotels, auto remain weak. SOX
+0.6%... NYSE Adv/Dec 1475/1481... Nasdaq Adv/Dec 1897/1775.
13:30 ET Dow -82, Nasdaq +2, S&P -7.18: [BRIEFING.COM] SOX Index making a run at breaking through 640 level which had acted
as a ceiling this morning while the Nasdaq continues to hug the flat line. While the Dow continues to languish, Eastman Kodak (EK 49.13
+2.37) is bucking the trend and leading the Dow on no news. Wireless equipment call from USB Piper Jaffray with Buy ratings having little
effect on NOK, ERICY and QCOM....Financials making a modest attempt at a turnaround, but still weak. Retailers, however, unable to
gain any traction. SOX +0.5%... NYSE Adv/Dec 1429/1509... Nasdaq Adv/Dec 1819/1779. |
