December 16th, 1999 - Thursday
News: Goldman Abby Cohen Sets 2000 Targets
Influential market strategist, Abby Cohen of Goldman Sachs, revealed her year 2000 targets today. She predicted the S&P 500 to gain 8% ending at 1,525 mark. Moreover she forecasted a 9.6% gain in the Dow Jones.
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Article: Silicon Valley Cost of Living
SiliconValley.com has a series of interesting in-depth articles about the cost of living and working in the valley. There are also neat little spreadsheets and charts comparing median salaries and stock option compensations relative to other major American cities..
Employees of just 15 Silicon Valley companies are sitting on a combined $43 billion of potential wealth in unexercised stock options -- $16 billion of which they can reap immediately -- an analysis commissioned by the Mercury News found. According to one of the most aggressive estimates, 65,000 Santa Clara County households -- roughly 1 in 9 -- are worth more than $1 million, not including the value of their homes.
Although the economy may be booming, housing costs and labor shortages doesn't mean paradise on earth.
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News: Microsoft and Best Buy Marketing Partnership
Adding on to the "bricks and clicks" phenomenon, Microsoft (MSFT) announced a marketing partnership with Best Buy (BBY) today to the tune of a $200 million stake in the consumer electronics firm. Best Buy will demo and sell MSN Internet access and other Microsoft products in return for preferential marketing on Microsoft's internet properties.
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News: 3Com Invests in USWeb/CKS
3Com (COMS) announced it will invest $100 million in USWeb/CKS (USWB) to develop wireless applications. Both companies will sell the applications through their consulting arms.
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News: Sega Dreamcast Sales to Reach 1.5 Million
Sega announced that their new Dreamcast video game console is on pace to sell 1.5 million units by the end of 1999, 50% above forecasts. Sony's Playstation 2 is not slated to reach the U.S. till the fall of 2000.
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News: Wal-Mart and AOL ISP Partnership
Wal-Mart (WMT) and America Online announced a partnership to create a co-branding internet access service. The two companies plan a massive cross-marketing campaign to promote the new service.
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TI Market Update: Year to Date Returns
The tech heavy Nasdaq in on track to trounce the other indexes and most actively managed mutual funds.
Index YTD Return
Dow Jones Index 21.5%
S&P 500 14.2%
Nasdaq 61.8%
Russell 2000 10.8%
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News: Ariba Buys Tradex Tech for $1.86 Billion
Ariba (ARBA), one of the hottest B2B net companies, announced it will acquire Tradex Technologies for $1.86 billion in stock. Tradex, an online trading platform provider, was privately held.
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Article: NY Times - Internet Stock Fraud
In a front page article in the New York Times, the SEC charged two Californian men of stock fraud using the internet. The accused pumped disinformation on the Yahoo! Finance boards about penny stocks to reap $364,000 in profits. As policy, TigerInvestor.com does not allow penny stock dicussion on our forum.
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December 15th, 1999 - Wednesday - Submit News!
News: Exxon Mobil to Cut 16,000 Jobs
Exxon Mobil (XOM) announced it will cut 16,000 jobs or 13% of the whole workforce as a way to save $3.8 billion annually by the third year after the merger.
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News: CMGI to Buy YesMail.com
CMGI (CMGI) has agreed to buy Yesmail.com, permission-based email marketing firm, for $508 million in stock.
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News: CMGI Reports Q1
CMGI (CMGI) reported a first quarter loss of $1.08 per share with revenue of $123.7 million. Analysts were expecting a loss of $1.76 per share. The company also announced a 2-for-1 stock split effective December 28th.
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TI Market View: I am so bullish, it hurts! by Ram Seshadri
I was feeling so bullish after reading the "Wall Street Journal" yesterday that I felt like selling everything I had and some. Have you been feeling like that lately? I now know how Trader J feels when he says on his message boards, "I am afraid, I am afraid...it's so easy to make money". I feel that everyone around us is bullish about tech stocks and how they are going to have such a great quarter because companies are just waiting for Y2K to end so that they can start their technology investing spree etc., etc. Needless to say, being the house skeptic, I don't believe any of it. I say, don't just talk about it. Just show me. |
