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To: Clint E. who wrote (21791)6/30/1999 5:24:00 PM
From: Clint E.  Read Replies (1) | Respond to of 69966
 
Fed hikes rates quarter point, Markets cheer hints that once will be enough

By Rex Nutting, CBS MarketWatch
Last Update: 4:31 AM ET Jul 1, 1999
Bond Report


WASHINGTON (CBS.MW) -- Stocks and bonds rallied Wednesday on hopes that the quarter-point interest
rate hike from the Federal Open Market Committee might be the last for a while.

As expected, the FOMC raised its target on the Federal funds rate from 4.75 percent to 5 percent, the first rate
hike by the central bank's policy arm in more than two years.

But what cheered the markets was the surprising shift in the Fed's bias back toward
neutrality. That means the Fed is not leaning toward raising rates again at its Aug. 24 meeting. The Fed also kept
the discount rate at 4.5 percent, another signal that the rate hike is only a precautionary move.

Changes in the Fed funds rate are typically matched by banks' prime rates, short-term interest rates on Treasury
bills and other market-determined rates, such as mortgages. Eventually, those higher rates brake the economy by
making borrowing more expensive.

After spending the morning under water, the Dow Jones Industrial Average ($DJ: news, msgs) rose 155 points
after briefly touching 11,000. The Nasdaq ($COMPQ: news, msgs) and S&P 500 ($SPX: news, msgs) notched
record highs. The yield on the 30-year Treasury fell to 5.97 percent. See Bond Report and Market Snapshot.

The Fed said it had lowered rates last fall to "counter a significant seizing-up of financial markets." But now the
Fed said "the full degree of adjustment is judged no longer necessary." See text of statement.

The Fed said the economy is moving at a "brisk pace" with "strengthening productivity growth containing
inflationary pressures."

The committee said it moved its policy bias back to neutral because of the "uncertain resolution of the balance of
conflicting forces" in the economy. The Fed said it would stay "especially alert to the emergence, or potential
emergence, of inflationary forces that could undermine economic growth."

The widely anticipated move by the Fed's policy-making committee was the first tightening of monetary policy
since March 25, 1997.

The simultaneous stop and go signals puzzled some observers. "Since he's worried about an equity bubble, I
assumed that [Fed Chairman Alan Greenspan] would have done everything he could to keep the markets off
balance," said Irwin Kellner, chief economist for CBS.MarketWatch.com and the Weller professor of
economics at Hofstra University.

"What they're doing with one hand, they're taking away with the other," Kellner said.

"It's crazy," said Joel Naroff, president of Naroff Economic Advisers. "Twenty-five basis points won't slow the
economy down, but changing the bias gives the markets the green light to roar ahead."

"If you believe in the wealth effect -- and I do -- it's adding fuel to the fire, not dampening it," Naroff said.

But another Fed watcher praised Fed for its bullish statements. "I don't think they'll raise rates in August," said
John Ryding, senior economist at Bear Stearns. "The 'new era' will keep them on hold."

The middle ground in the debate was voiced by Hugh Johnson, chief investment officer at First Albany. The
change in the bias "means nothing," he said. "The Fed will not hesitate to raise interest rates by a quarter of a
percent if necessary."

The 10-member FOMC warned after its last meeting that it was leaning toward raising rates because it fears that
the economy is growing too fast to maintain inflation at a low level. The economy has been growing at about a 4
percent pace for the past three years while inflation, by most measures, has dropped to 2 percent or lower. See
text of statement.

Fed Chairman Alan Greenspan signaled the policy change in testimony to the Joint Economic Committee two
weeks ago, saying, "When we can be pre-emptive we should be, because modest pre-emptive actions can obviate
the need of more drastic actions at a later date that could destabilize the economy."

After Greenspan spoke, the only question for investors was: What will the Fed do next?

Will the Fed stop here?

Or will it take back all three of the rate cuts from last fall's emergency loosening, now that foreign economies are
on the mend and U.S. financial markets have stabilized from the shock of the Russian default and the collapse of
Long-Term Capital Management?

Or will the Fed keep ratcheting up interest rates until the economy slows to the presumed speed limit of around
3 percent annual growth?

The answer to those questions won't be known definitively for months, but everything the FOMC and the Fed
governors do until then will be examined closely for clues. And the Fed will be looking at the economy for signs
of slowing or signs of inflation. So far, evidence for either is skimpy.

Of all the signals the Fed could have sent in Wednesday's statement, it choose the most bullish options: shifting
the bias to neutral, keeping the discount rate at 4.5 percent, referring to last fall's easings and reiterating that
inflation is still well under control.

The rate hike is the third time during the current expansion that the Fed has moved to tighter policy. In 1994,
the Fed raised rates seven times over a year to double the Fed funds rate from 3 percent to 6 percent. That was
followed by three easings in 1995 and early 1996 that brought the Fed funds back to 5.25 percent.

Then, in 1997, the Fed tightened just once before the collapse of Asian economies put the Fed on hold. Rates
were steady until the fall of 1998 when the Fed lowered rates three times in seven weeks in response to the
seizing up of global financial markets. See historic data on Fed funds.

Since the last tightening in March 1997, the economy has added 4.05 million jobs, nearly 1 million people have
left the jobless lines, the unemployment rate has fallen from 4.9 percent to 4.2 percent, the economy has grown
at a 4 percent annual pace, the S&P 500 ($SPX: news, msgs) is up 58 percent, average hourly pay has gone up
$1.05 to $13.19, and the core rate of inflation has been cut from a 2.7 percent annual pace to 2 percent.

The Fed's recent policies have obviously contributed to higher growth and lower inflation. It's not clear yet
whether the Fed has abandoned its policy of letting the economy run on its leash until inflation perks up or
whether this move is simply a minor adjustment in that policy.



To: Clint E. who wrote (21791)6/30/1999 5:38:00 PM
From: Clint E.  Read Replies (1) | Respond to of 69966
 
=-= Wed. June 30, 99,,, Impressive vol ~1.3B, Rate-Cut/End-of-Quarter Rally =-=

#reply-10339137

New 52-wk high in many indices, except the DOW.
================

Indices [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
DJII 10971.000 156.000u 10815.000 10815.000 11003.000 10731.000 N/A 10072 N/A 4:30 N/A N/A
COMP 2686.000 43.900u 2642.100 2639.700 2696.800 2621.000 463 420 1 5:06 2677.700 1357.100
SPZ 1372.700 21.200u 1351.500 1351.500 1372.900 1338.800 1776 1603 1 5:00 1376.000 923.300
NDX 2296.800 16.700u 2280.100 2280.100 2320.400 2251.000 1863 1694 1 5:16 2283.600 1063.300
BKX 895.900 14.500u 881.400 880.900 903.800 867.200 1625 1446 1 4:31 953.200 545.700
SOX 484.450 10.410u 474.040 474.040 485.990 471.820 1719 1554 1 4:31 484.300 182.590
QQQ 115.250 1.750u 113.500 113.609 119.875 112.266 N/A 1487 25 4:26 114.563 97.000
VIX 21.010 -1.980d 22.990 23.220 24.280 20.440 364 326 1 3:59 60.630 16.730

DOW [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
JPM 140.500 4.750u 135.750 136.000 141.625 134.688 15743 1058 2 4:20 147.813 72.125
GE 113.000 3.313u 109.688 109.000 113.000 107.250 7.3M 5127 5 5:01 117.438 69.000
HWP 100.500 3.125u 97.375 96.250 100.500 95.250 39088 2123 5 5:01 97.563 47.063
AXP 130.125 2.938u 127.188 127.375 133.625 125.563 32159 1591 1 4:20 142.625 67.000
MRK 73.625 2.125u 71.500 71.875 74.000 70.688 6.6M 3543 6 4:20 87.375 57.500
WMT 48.250 1.438u 46.813 46.563 48.500 45.375 9M 5779 1 4:24 53.406 26.219

Tech_Titans [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
IBM 129.250 4.625u 124.625 124.813 132.000 124.375 8.3M 4351 11 5:01 127.750 55.375
MSFT 90.188 2.188u 88.000 87.750 90.250 86.750 27M 24183 50 4:01 95.625 43.875
CSCO 64.313 1.875u 62.438 62.375 65.438 61.625 28M 31855 1 4:01 62.938 20.563
EMC 55.000 1.125u 53.875 54.000 56.438 53.750 8M 5029 11 5:01 67.469 20.844
LU 67.438 0.750u 66.688 66.938 68.688 65.813 15M 8287 3 4:36 67.000 26.719
DELL 37.000 0.313u 36.688 36.563 37.625 36.063 29M 18495 18 4:01 55.000 20.375
INTC 59.500 0.250u 59.250 59.188 59.875 57.000 19M 16727 418 4:01 71.844 34.875
WCOM 86.063 -7.500d 93.563 91.250 91.625 85.938 55M 45353 1 4:01 96.766 39.000

E*Titans [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
INKT 131.500 12.375u 119.125 120.625 133.000 119.500 26704 6173 3 4:00 159.125 19.500
YHOO 172.250 12.250u 160.000 159.875 178.375 157.813 14.5M 31498 50 4:01 244.000 29.500
EBAY 151.000 10.250u 140.750 137.625 156.000 136.500 44875 12127 1 4:01 234.000 8.406
AMZN 125.125 9.063u 116.063 116.500 129.250 115.000 8.4M 17129 1 4:01 221.250 21.656
PCLN 115.563 8.063u 107.500 106.250 119.000 104.250 26243 7265 209 4:01 165.000 58.000
DCLK 91.750 6.563u 85.188 84.125 94.000 84.000 50781 10281 74 4:01 176.000 6.750
AOL 110.500 4.500u 106.000 106.313 114.250 104.250 21M 17577 N/A 5:01 175.500 17.250
CMGI 114.063 3.750u 110.313 113.500 120.500 111.500 11.6M 30188 1 4:00 165.000 8.609
CNET 57.625 3.500u 54.125 54.625 59.750 53.375 26098 5459 3 4:00 79.750 7.250
ATHM 53.938 2.000u 51.938 52.875 56.250 51.750 14M 21502 10 4:01 99.000 11.750
RNWK 68.875 0.250d 68.625 70.000 74.250 67.188 27969 6054 37 4:01 131.875 7.625

Networkers [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
SUNW 68.875 2.438u 66.438 66.313 69.000 65.500 8M 8423 31 4:01 72.500 19.188
COMS 26.688 -0.438d 27.125 26.813 27.000 26.500 46503 4051 2 4:01 51.125 20.000
NN 28.750 -0.813d 29.563 29.000 30.000 28.563 6157 265 28 4:01 39.875 15.438

WirelessMfr [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
QCOM 143.500 6.500u 137.000 136.063 145.938 135.063 46897 8980 2 4:01 137.500 18.875
NOK 91.563 3.188u 88.375 88.625 92.000 87.500 26504 1498 122 4:01 91.500 29.531
MOT 94.750 0.375u 94.375 93.500 95.875 92.313 35815 1751 1 5:01 96.688 38.375
ERICY 32.938 -0.313d 33.250 33.000 33.000 31.875 36951 1613 6 4:01 34.125 15.000

Telecom_Infrastructr [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
COVD 53.313 11.938u 41.375 44.000 55.500 43.625 56857 9376 392 4:01 81.000 20.656
RBAK 125.563 11.563u 114.000 117.750 132.125 115.375 4496 1430 5 4:00 122.750 65.000
CMTN 77.250 8.375u 68.875 70.125 79.500 68.375 10256 1549 235 4:01 78.375 50.500
UNPH 166.000 4.000u 162.000 163.250 167.188 161.875 9401 1826 14 4:01 162.000 31.250
MFNX 35.938 3.938u 32.000 32.063 37.000 31.063 44880 5757 58 4:00 47.563 4.219
AWRE 46.125 3.375u 42.750 43.125 46.250 42.375 8920 1167 10 4:00 87.125 4.250
RCNC 41.625 1.250u 40.375 40.625 42.250 40.125 5735 873 80 4:01 54.500 8.750
NT 86.813 1.125u 85.688 86.188 87.250 84.563 30094 1158 1 4:21 88.000 26.813
ANTC 32.063 1.125u 30.938 31.375 32.063 30.938 3755 281 3 4:00 34.188 11.500
WCII 48.750 0.938u 47.813 47.813 50.000 46.625 13497 1115 51 4:01 60.000 10.250
ADCT 45.563 0.563u 45.000 45.000 47.063 44.500 18375 1847 7 4:01 53.625 15.750
GBLX 42.625 0.188d 42.438 42.938 44.000 42.313 22886 1993 5 4:00 64.250 8.000
QWST 33.063 0.188d 32.875 33.375 33.875 33.000 11M 10320 14 4:01 52.375 11.000
CMVT 75.500 -1.625d 77.125 77.063 78.750 75.375 11542 1368 3 4:00 77.875 19.578
TLAB 67.563 -1.813d 69.375 69.188 69.375 65.500 50711 5792 20 4:01 70.625 15.688
PCS 57.000 -2.750d 59.750 59.250 60.750 57.000 13662 962 4 4:33 60.375 12.750
ADLAC 63.625 -3.000d 66.625 66.750 67.000 63.000 15996 875 1 4:00 87.000 29.125
LVLT 60.063 -8.813d 68.875 68.250 70.375 59.500 37269 4327 5 4:01 100.125 22.375

E*Portals [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
GNET 91.875 12.250u 79.625 81.438 92.063 78.375 23167 5930 38 4:01 99.500 3.203
SEEK 47.938 1.688u 46.250 46.250 48.875 45.500 14013 2549 67 4:00 100.000 14.875
INSP 47.000 -1.500d 48.500 48.938 49.625 46.750 17886 2098 20 4:00 72.625 9.750
LCOS 91.875 -3.063d 94.938 94.813 97.438 91.500 22612 4221 15 4:01 145.375 20.063

ISPs_WebHosting [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
EXDS 119.938 13.938u 106.000 108.000 120.750 104.250 26810 5102 1 4:00 110.250 7.750
ABOV 40.375 5.188u 35.188 35.250 41.250 34.000 29413 4900 24 4:00 75.500 5.750
VRIO 69.500 3.750u 65.750 66.750 70.125 65.000 9131 872 24 4:00 78.000 13.000
CNCX 39.750 1.938u 37.813 39.125 40.000 36.813 11637 1074 3 4:00 57.625 7.125
ELNK 61.438 1.563d 59.875 61.500 62.000 59.500 14456 2459 5 4:00 99.375 19.500
MSPG 44.313 0.438d 43.875 44.875 46.375 44.000 42646 7860 3 4:01 66.500 11.375
PSIX 43.750 -3.625d 47.375 47.625 48.938 43.125 18069 1797 26 4:00 73.750 8.375

E*Banking [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
SONE 45.125 5.000u 40.125 40.375 45.125 40.375 14921 1644 20 4:00 79.250 4.625
TBFC 38.750 2.750u 36.000 36.188 39.438 34.813 16159 1616 10 4:01 75.875 3.938
NTBK 38.000 2.563u 35.438 36.000 38.375 34.250 21745 3807 5 4:01 83.000 3.578

E*Brokers [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
AMTD 106.000 13.563u 92.438 94.125 108.750 90.000 62135 16611 2 4:00 188.375 5.625
NDB 57.750 12.500u 45.250 46.000 58.000 46.000 7M 9456 9 4:37 93.000 8.125
SCH 109.000 8.875u 100.125 99.375 109.875 95.500 58024 3665 9 5:00 155.000 18.500
NITE 60.313 4.813u 55.500 55.750 61.438 53.750 8M 15244 20 4:01 81.625 2.250
EGRP 39.938 0.750u 39.188 39.875 41.938 38.375 12M 19268 70 4:01 72.250 2.500

E*Commerce_E*SW [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
VERT 105.000 15.500u 89.500 94.000 106.000 88.625 7534 1277 15 4:01 149.000 34.750
VIGN 77.125 10.813u 66.313 66.938 80.500 62.000 6441 1070 1 4:00 111.750 37.250
VRSN 86.250 8.375u 77.875 77.875 87.000 74.375 20090 2943 15 4:00 94.125 9.688
BVSN 73.750 6.625u 67.125 67.750 73.750 66.250 8112 1626 10 4:00 72.375 9.250
NSOL 79.125 2.750u 76.375 77.375 81.500 74.500 9141 1952 19 4:00 153.750 10.500
CPTH 55.313 2.688u 52.625 54.500 56.063 53.000 5898 524 8 4:00 150.250 34.125
INTU 90.125 0.750u 89.375 88.750 92.875 88.625 10548 1572 2 4:01 110.750 26.250
MACR 35.250 -2.688d 37.938 38.000 39.125 35.250 13419 1095 14 4:01 53.250 12.313

E*Misc [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
IVIL 50.250 5.938u 44.313 44.375 50.625 41.125 5470 943 7 4:00 130.000 31.250
GMST 65.250 3.875u 61.375 62.000 66.125 61.875 11777 1425 2 4:01 67.625 15.500
HLTH 77.000 2.188u 74.813 74.375 77.250 70.000 8544 1827 15 4:00 126.188 21.750
ETYS 40.750 1.313u 39.438 40.188 41.250 38.750 6917 1080 30 4:01 83.563 36.000

PCs [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
BBY 67.500 2.383u 65.117 65.375 67.750 65.313 28172 1443 32 4:07 66.375 15.969
AAPL 46.313 0.938u 45.375 45.688 46.938 44.938 30649 3120 4 4:01 50.000 28.063
GTW 59.063 -0.750d 59.813 59.813 60.750 59.000 16674 939 10 4:31 84.500 36.125
LXK 65.500 -2.625d 68.125 67.000 67.000 63.000 21190 1141 129 4:27 74.375 25.375

SemiCapX_EDA [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
AMAT 73.875 4.750u 69.125 68.938 75.000 68.625 13M 15758 14 4:00 72.000 21.563
KLAC 64.875 3.375u 61.500 61.500 65.375 61.063 22901 3198 2 4:01 65.000 20.750
TER 71.750 2.375u 69.375 70.000 73.938 69.875 16684 852 5 4:00 70.688 15.000
NVLS 68.250 2.250u 66.000 66.125 69.000 65.250 23684 1951 2 4:01 75.500 20.875
PRIA 36.250 2.125u 34.125 34.125 36.625 33.500 4201 623 1 4:00 44.313 9.563
LRCX 46.688 1.750u 44.938 44.750 47.000 44.375 12408 1322 2 4:01 45.500 8.375
SNPS 55.188 -0.938d 56.125 56.000 56.125 54.625 8221 721 452 4:01 61.250 24.500

Semis [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
BRCM 144.563 18.063u 126.500 128.250 145.250 125.250 30953 6907 1 4:01 127.250 23.500
TXN 144.000 4.188u 139.813 139.875 145.000 138.500 33431 2120 2 4:08 141.000 45.375
LSCC 62.250 3.750u 58.500 59.250 62.375 57.625 3221 476 194 4:01 61.875 18.875
STM 69.313 2.313u 67.000 67.000 69.875 66.750 3441 312 48 4:05 72.500 17.938
LLTC 67.250 1.938u 65.313 65.000 68.125 64.063 12574 1724 8 4:01 65.750 19.563
XLNX 57.250 0.563d 56.688 57.500 59.000 55.625 32959 2990 4 4:01 58.125 14.875
VTSS 67.438 -0.125d 67.563 67.750 70.250 66.375 11835 1700 8 4:00 68.125 17.125
ALTR 36.813 -0.625d 37.438 37.313 38.250 36.375 57545 3366 2 4:01 41.156 14.500
MCHP 47.375 -0.750d 48.125 47.750 48.250 46.000 8067 947 2 4:00 50.438 17.000
PMCS 58.938 -1.125d 60.063 61.375 61.813 56.375 18351 1456 12 4:01 63.250 11.438
QLGC 132.000 -2.125d 134.125 134.750 141.000 131.500 4186 844 4 4:00 136.875 13.938
RMBS 92.188 -3.313d 95.500 96.500 96.500 91.250 9673 2074 50 4:01 109.938 45.000

Software [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
NEON 43.938 2.688u 41.250 41.625 44.625 40.375 13962 1549 5 4:01 78.375 12.000
SEBL 66.313 2.375u 63.938 64.063 67.375 63.750 12830 1547 9 4:01 64.000 15.125
CHKP 53.625 2.188u 51.438 51.438 53.750 50.500 4699 672 16 4:00 56.563 10.875
VRTS 94.938 1.813u 93.125 93.375 95.563 92.500 10539 1209 13 4:01 99.750 23.750
BMCS 54.000 0.938u 53.063 53.125 54.500 51.328 26014 2619 3 4:01 60.250 30.000
MERQ 35.375 0.563u 34.813 35.000 36.250 34.063 4008 380 15 4:00 39.938 10.563
CA 54.750 0.250u 54.500 54.438 55.000 52.625 15506 1024 1 4:29 61.938 26.000
ORCL 37.125 0.000u 37.125 36.750 37.313 36.063 12M 8814 23 4:01 41.156 12.125
CPWR 31.813 -0.250u 32.063 31.688 32.500 31.125 31214 2055 3 4:01 39.906 16.375
ERTS 54.250 -0.625d 54.875 54.625 55.125 53.313 7222 773 2 4:01 57.125 33.250
CTXS 56.500 -0.875d 57.375 57.500 58.250 56.188 8028 1111 7 4:01 58.000 23.125
LGTO 57.750 -1.563d 59.313 60.000 60.250 57.750 8574 812 205 4:01 67.750 27.500
RATL 32.938 -3.000d 35.938 36.250 36.250 32.438 15243 990 21 4:01 37.500 10.500
EFII 51.375 -3.375d 54.750 54.750 56.813 49.875 11968 1494 9 4:01 55.563 13.500
ADBE 82.156 -5.344d 87.500 87.500 88.000 82.125 13304 1615 2 4:01 88.250 23.625

Banks_Brokers [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
MWD 102.625 7.875u 94.750 94.688 103.750 93.375 45080 1755 20 4:29 116.938 36.500
GS 72.250 4.500u 67.750 68.500 72.250 66.125 21276 1149 12 4:27 77.250 60.500
CMB 86.500 3.875u 82.625 83.125 86.625 82.188 49675 1843 2 4:20 91.125 35.563
DLJ 60.250 3.500u 56.750 56.875 61.250 55.813 7296 549 364 4:20 100.750 20.375
MER 79.500 2.500u 77.000 77.000 80.375 74.000 59221 3249 1 4:20 109.125 35.750
C 47.500 1.438u 46.063 46.375 49.000 45.063 16M 5259 N/A 5:01 51.750 19.000
BAC 73.313 0.313u 73.000 73.000 74.875 72.125 61428 1904 5 4:20 88.438 44.000
WFC 42.750 -1.250d 44.000 43.750 43.750 42.063 7.8M 1293 5 4:20 44.875 27.500

Bios_Drugs [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
PFE 109.000 4.125u 104.875 105.750 109.750 104.500 6.7M 7560 27 4:50 150.125 86.000
AMGN 60.875 0.938u 59.938 60.063 61.250 59.625 53232 4989 1 4:01 81.375 28.969
BGEN 64.313 0.688u 63.625 64.250 65.563 62.375 21534 2542 34 4:01 66.500 20.875
IMNX 127.438 -3.063d 130.500 130.313 133.750 127.375 5207 912 2 4:01 145.875 23.938

Laser [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
LVCI 63.000 5.750u 57.250 57.750 65.250 57.250 5682 740 121 4:01 66.250 8.500
BEAM 22.000 2.375u 19.625 19.875 22.125 19.375 12804 1278 153 4:00 23.438 3.000
LZRC 48.000 2.250u 45.750 45.875 49.250 45.844 2321 318 1 4:00 50.750 10.125
BOL 76.500 1.750u 74.750 75.313 76.500 75.000 2849 248 3 4:20 84.750 38.063
VISX 79.188 -3.313d 82.500 83.813 83.813 78.500 17353 2501 28 4:01 85.000 10.484

ECM [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
JBL 45.125 1.750u 43.375 43.313 46.625 42.875 10350 536 883 4:03 55.375 11.500
FLEX 55.500 0.938u 54.563 54.750 57.000 52.625 2486 411 1 3:58 58.375 10.984
SLR 66.688 0.000d 66.688 66.938 67.188 65.938 12633 785 1757 4:04 67.250 19.406
SANM 75.875 -2.875d 78.750 79.375 79.375 75.750 7683 938 15 4:01 81.500 19.625

Misc [EDIT This List]
Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo
------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- ---------
EXTR 58.063 1.563u 56.500 56.688 58.125 54.000 5786 616 16 4:00 65.125 35.063
NTAP 55.875 -4.313d 60.188 58.000 58.875 55.750 21879 2197 17 4:01 67.000 16.000

================



To: Clint E. who wrote (21791)6/30/1999 5:46:00 PM
From: Clint E.  Read Replies (2) | Respond to of 69966
 
=-=-= Wed. June 30, 99,,, Telecom/Datacom =-=-=

===============
Shares of MCI WorldCom were pummeled by investors Wednesday amid concerns about a slowdown in revenue
growth and a potential price war in the long-distance business. The second largest U.S. long-distance
carrier (WCOM: news, msgs) sank 7 9/16 to 86 1/16, a decline of 8 percent. Concerns about the company's
results were fueled by a pair of brokerage reports.

PaineWebber analyst Eric Strumingher trimmed his projected year-over-year revenue growth to 16-16.5
percent from 17.2 percent, citing weaker results in the traditional long-distance voice business.
Earlier this week, Frontier Corp. (FRO: news, msgs), the fifth largest domestic long-distance
carrier, warned that greater competition in voice traffic would undercut its second-quarter earnings.

For that reason, analyst Simon Flannery of Morgan Stanley Dean Witter suggested Wednesday that the sector
could experience even stiffer competition going forward, which could crimp revenue some more.

For its part, MCI WorldCom declined to comment on its stock's fall-off. "As a matter of policy, we
don't comment on fluctuations in our stock price," said spokesman Frank Walter. He also declined
to discuss revenue trends in the company's long-distance voice business.

Despite their concerns, most analysts are keeping their buy ratings on MCI WorldCom. Flannery,
for instance, lists the carrier as his top pick in the long-distance sector.

As noted Wall Street analyst Jack Grubman of Salomon Smith Barney pointed out in a midday report,
MCI WorldCom is focusing on lucrative new services in the high-speed data, Internet and international
segments of its business, while de-emphasizing voice. So while revenue may be waning a bit,
Wall Street analysts are maintaining their profit projections.

MCI WorldCom is expected to earn 44 cents a share in the second quarter, according to the
consensus estimate of analysts surveyed by First Call Corp
===============

Symbol Last Trade Change Volume Day's Range Open Avg Vol 52-week Range Earn/Shr Mkt Cap
^NWX 5:02PM 578.67 +4.29 +0.75% N/A 568.87 584.67 574.38 N/A 217.29 583.40 N/A N/A
CSCO 4:01PM 64.44 +1.94 +3.10% 28,631,300 61.62 65.44 62.38 14,197,181 20.56 62.94 0.58 207.7B
LU 5:01PM 67.44 +0.75 +1.12% 15,080,400 65.81 68.69 66.94 10,081,272 26.69 67.00 0.72 180.2B
WCOM 4:01PM 86.06 -7.56 -8.08% 55,809,600 85.94 91.62 91.25 11,065,500 39.00 96.75 -1.37 160.1B
NT 4:21PM 86.81 +1.12 +1.31% 3,009,400 84.56 87.25 86.19 1,772,409 26.81 88.00 -1.64 57.995B
*WIRELESS* No such ticker symbol. Try Symbol Lookup (Look up: *WIRELESS*)
NOK 4:01PM 91.56 +3.19 +3.61% 2,650,400 87.50 92.00 88.62 2,065,909 29.50 91.50 1.90 111.0B
ERICY 4:01PM 32.94 -0.38 -1.13% 3,695,100 31.88 33.00 33.00 3,180,090 15.00 34.12 0.76 58.869B
MOT 5:01PM 94.75 +0.38 +0.40% 3,581,500 92.31 95.88 93.50 3,397,227 38.38 96.69 -1.63 57.134B
NXTL 4:01PM 50.19 +1.69 +3.48% 5,693,400 47.12 50.75 48.38 5,423,227 15.38 48.56 -6.11 13.958B
QCOM 4:01PM 143.50 +6.50 +4.74% 4,689,900 135.06 145.94 136.06 3,710,318 18.88 137.50 0.35 21.618B
PCS 4:32PM 57.00 -2.75 -4.60% 1,381,700 57.00 60.75 59.25 1,235,272 12.75 60.38 -4.86 23.049B
DISH 4:00PM 153.44 +6.94 +4.74% 715,400 144.75 156.50 147.50 591,954 17.00 160.12 -7.62 2.431B
GILTF 3:59PM 52.50 +4.19 +8.67% 561,100 48.12 52.62 48.25 247,545 31.75 67.00 N/A 787.0M
IRID 3:59PM 10.69 +0.75 +7.55% 3,906,600 9.44 11.62 9.94 1,560,136 4.94 61.62 N/A 210.8M
GSTRF 3:59PM 23.19 +0.44 +1.92% 976,900 22.50 23.50 22.88 1,138,227 8.31 28.12 N/A 1.902B
*SUBS_CHIPS* No such ticker symbol. Try Symbol Lookup (Look up: *SUBS_CHIPS*)
PWAV 3:57PM 32.25 +1.44 +4.67% 606,500 30.88 32.38 31.50 422,090 5.62 36.88 -0.19 641.3M
SAWS 3:59PM 45.88 +3.62 +8.58% 239,300 42.34 47.00 42.38 252,818 10.25 47.25 1.24 959.4M
ANAD 4:00PM 37.00 +4.25 +12.98% 667,700 32.50 37.19 32.75 264,590 4.62 34.12 -0.61 547.9M
AMCC 3:59PM 82.25 +4.38 +5.62% 773,400 77.50 85.00 77.75 376,681 12.25 80.44 0.62 2.189B
TQNT 4:00PM 56.81 +4.44 +8.47% 522,500 52.25 58.50 52.38 375,181 11.00 61.25 1.23 543.7M
GALT 3:59PM 45.31 -0.31 -0.68% 386,000 44.50 46.31 45.50 447,545 6.62 47.00 N/A 920.9M
VTSS 4:00PM 67.44 -0.12 -0.19% 1,183,500 66.38 70.25 67.75 1,419,500 17.12 68.12 0.79 5.127B
MCRL 4:01PM 74.00 +2.25 +3.14% 106,200 70.00 75.25 71.94 150,454 22.75 75.50 0.88 1.495B
TXCC 4:00PM 47.38 +6.00 +14.50% 1,003,500 42.50 47.62 42.69 306,454 7.31 42.25 0.36 1.200B
BRCM 4:01PM 144.56 +18.06 +14.28% 3,095,800 120.25 145.25 128.25 2,166,818 23.50 127.25 0.49 13.366B
PMCS 4:01PM 58.94 -1.12 -1.87% 1,847,400 56.38 61.81 61.38 555,818 11.44 63.25 -0.01 3.740B
MMCN 4:00PM 44.75 +4.12 +10.15% 566,500 40.38 45.25 40.75 549,136 7.75 40.75 0.31 1.365B
DSPG 4:00PM 36.00 +0.56 +1.59% 654,500 34.25 36.00 36.00 230,909 9.62 36.00 1.24 415.4M
*INFRA_BULDOT* No such ticker symbol. Try Symbol Lookup (Look up: *INFRA_BULDOT*)
QWST 4:01PM 33.06 +0.19 +0.57% 11,478,700 33.00 33.88 33.38 6,768,863 11.00 52.38 -1.49 23.276B
LVLT 4:01PM 60.06 -8.81 -12.79% 3,735,600 59.50 70.38 68.25 1,683,500 22.38 100.12 -1.08 20.372B
GBLX 4:00PM 42.62 +0.12 +0.29% 2,288,600 42.31 44.00 42.94 1,868,727 8.00 64.25 N/A 18.554B
TLAB 4:01PM 67.56 -1.81 -2.61% 5,087,500 65.50 69.38 69.19 3,003,681 15.69 70.62 1.11 26.453B
ADCT 4:01PM 45.56 +0.56 +1.25% 1,837,500 44.50 47.06 45.00 1,951,227 15.75 53.62 0.87 6.174B
CIEN 4:01PM 30.19 -0.69 -2.23% 3,034,800 29.50 31.38 30.38 3,460,727 8.12 92.38 0.14 3.664B
CMVT 4:01PM 75.50 -1.62 -2.11% 1,154,200 75.38 78.75 77.06 951,909 19.56 77.88 1.68 5.277B
UNPH 4:01PM 166.00 +4.00 +2.47% 942,100 161.88 167.19 163.25 920,727 31.25 162.00 -2.24 6.707B
MFNX 4:00PM 35.94 +3.94 +12.30% 4,488,900 31.06 37.00 32.06 1,241,863 4.19 47.56 -0.01 5.596B
HLIT 4:00PM 57.44 +3.44 +6.37% 314,100 51.88 57.50 54.50 335,454 7.62 59.00 -0.15 855.1M
ANTC 4:00PM 32.06 +1.12 +3.64% 375,500 30.94 32.06 31.38 893,454 11.50 34.19 1.19 1.162B
PAIR 4:00PM 11.50 +0.06 +0.55% 1,032,900 11.19 11.88 11.50 2,753,227 6.00 18.25 0.43 814.3M
AFCI 4:01PM 15.62 +1.12 +7.76% 2,982,600 14.44 15.75 14.50 1,879,454 4.00 40.62 0.23 1.198B
ADTN 4:00PM 36.38 +1.12 +3.19% 403,100 34.94 36.88 35.25 331,681 15.62 35.25 1.02 1.434B
AWRE 4:00PM 46.12 +3.38 +7.89% 892,000 42.38 46.25 43.12 797,545 4.25 87.12 -0.01 986.1M
WCII 4:01PM 48.75 +0.94 +1.96% 1,350,700 46.62 50.00 47.81 1,453,636 10.25 60.00 -13.73 2.322B
ECILF 3:58PM 33.19 +0.31 +0.95% 366,700 32.38 33.19 32.81 478,181 19.75 45.00 N/A 2.544B
CATT 3:59PM 18.88 +1.31 +7.47% 238,500 17.44 19.25 17.56 203,136 9.94 30.69 0.59 237.5M
*LECS-SRVC_PRVIDR* No such ticker symbol. Try Symbol Lookup (Look up: *LECS-SRVC_PRVIDR*)
IIXC 4:00PM 39.31 +0.06 +0.16% 356,200 37.06 39.50 39.00 623,090 16.50 55.12 -5.05 1.442B
ICGX 4:00PM 21.38 +1.12 +5.56% 574,000 20.00 21.50 20.25 929,045 11.12 36.75 -8.80 1.005B
CTL 4:19PM 39.75 -0.12 -0.31% 665,700 38.81 39.75 39.38 552,454 28.38 49.00 2.47 5.538B
CACS 4:01PM 43.81 +3.69 +9.19% 743,500 39.00 44.50 41.00 438,863 13.38 80.38 0.46 1.045B
GTSG 4:00PM 81.00 +0.50 +0.62% 1,340,300 79.50 81.62 81.12 1,657,272 21.12 91.69 -4.81 6.572B
*CABLE* No such ticker symbol. Try Symbol Lookup (Look up: *CABLE*)
TWX 4:32PM 72.62 +4.06 +5.93% 5,587,100 68.50 73.50 69.62 3,097,181 37.56 78.62 -0.09 82.487B
CWP 4:00PM 39.62 +0.94 +2.42% 63,900 38.50 39.62 38.88 147,454 25.75 49.88 1.81 30.102B
UMG 4:21PM 74.38 -0.94 -1.24% 2,322,900 74.38 75.38 75.25 3,443,045 33.44 81.81 2.37 45.037B
COX 4:02PM 36.81 -0.06 -0.17% 731,400 36.06 37.12 36.88 672,272 20.75 44.44 2.94 19.417B
TCAT 4:01PM 55.50 -0.06 -0.11% 246,000 55.25 56.25 55.62 528,363 21.38 61.62 0.90 2.767B
RG 4:03PM 16.19 -0.62 -3.72% 221,200 15.88 16.94 16.94 249,045 5.31 23.94 2.19 3.768B
CVC 4:00PM 70.00 -0.75 -1.06% 615,300 69.50 73.00 70.75 485,681 32.00 91.88 -4.50 7.633B
CMCSK 4:01PM 38.44 -0.50 -1.28% 4,282,300 38.06 40.38 38.75 4,156,636 16.81 42.56 1.43 26.886B
CTYA 4:01PM 46.00 -1.62 -3.41% 933,900 46.00 48.06 47.81 352,500 15.50 60.12 3.29 1.513B
ADLAC 3:59PM 63.62 -3.06 -4.59% 1,621,600 63.00 67.00 66.75 837,681 29.12 87.00 -5.13 3.202B
CTV 4:01PM 30.75 +0.81 +2.71% 981,000 29.94 31.06 30.19 452,954 8.75 31.19 0.87 1.556B
TERN 4:00PM 55.88 +3.25 +6.18% 815,200 50.00 56.25 53.75 641,590 7.00 60.50 -2.49 1.155B
CMTO 4:00PM 17.06 +1.38 +8.76% 799,000 15.66 17.12 16.19 882,409 8.38 37.50 -0.57 363.2M
SFA 4:08PM 36.00 -0.25 -0.69% 539,800 36.00 37.00 36.25 630,863 11.75 39.75 1.11 2.753B
*TELCM_CARRIERS* No such ticker symbol. Try Symbol Lookup (Look up: *TELCM_CARRIERS*)
ATI Jun 29 107.66 -3.34 -3.01% 47,640,000 107.00 110.62 110.00 3,825,409 42.25 114.94 1.20 62.115B
AT 4:01PM 71.50 -0.44 -0.61% 934,100 70.88 72.31 72.19 677,863 38.25 74.56 1.87 20.116B
AIT 4:07PM 73.50 +3.50 +5.00% 3,484,100 69.75 73.50 70.00 1,609,590 43.38 70.00 3.47 80.777B
T 4:21PM 55.81 +0.19 +0.34% 14,494,300 54.00 55.94 55.00 11,869,818 32.25 64.06 2.32 177.6B
BCE 4:08PM 49.31 +1.25 +2.60% 213,500 47.75 49.31 48.25 155,954 25.62 51.06 4.39 31.566B
BEL 4:20PM 65.38 +4.94 +8.17% 5,782,700 59.69 65.38 60.44 2,899,363 40.44 61.69 2.02 101.5B
BLS 4:43PM 46.12 +1.62 +3.65% 7,066,100 43.38 46.88 43.75 2,731,318 32.12 50.00 1.65 87.364B
CSN 4:02PM 24.94 0.00 0.00% 156,000 24.38 24.94 24.81 337,590 16.06 38.12 1.11 3.432B
GTE 4:13PM 75.50 +4.50 +6.34% 4,489,400 70.69 76.12 71.00 1,665,227 46.56 71.88 3.35 73.365B
SBC 4:31PM 58.00 +3.50 +6.42% 6,647,500 54.69 58.00 55.00 3,000,590 35.00 59.94 2.13 113.9B
FON 4:13PM 53.00 -2.06 -3.75% 3,820,500 52.31 54.69 54.69 1,193,636 30.75 57.44 1.83 45.850B
USW 4:03PM 58.75 +0.69 +1.18% 3,216,700 57.88 58.75 58.00 2,070,181 46.81 66.00 2.84 29.586B
CQ 4:02PM 32.50 +0.38 +1.17% 115,000 32.00 32.75 32.00 152,227 21.75 39.62 0.65 1.712B
*TOWERS* No such ticker symbol. Try Symbol Lookup (Look up: *TOWERS*)
BIGT 4:01PM 24.50 +4.88 +24.84% 2,248,300 21.50 24.50 22.00 279,818 13.38 21.50 -2.07 784.6M
AMT 4:04PM 24.00 +0.25 +1.05% 591,100 23.38 24.25 23.75 419,500 13.25 30.25 -0.52 3.462B

=============