To: Jeff Jordan who wrote (372 ) 10/9/1999 11:46:00 AM From: Jeff Jordan Respond to of 604
Economic Calendar.....moneynet.com The bond market is closed in observance of Columbus Day. There are no economic reports Next week, the focus will be on Thursday's retail sales report and Friday's producer price index. The current consensus estimate for September retail sales is for a rise of 0.3% overall and 0.4% excluding autos. August retail sales were up a much stronger-than-expected 1.2% and 0.7% excluding autos. The PPI, though, may not bring very good news on the inflation front. The index measures the price of goods at the wholesale level. The current consensus estimate for the PPI is a rise of 0.4%, mostly because of higher oil prices. The core index, which excludes food and energy, is expected to rise 0.3% in light of a rise in tobacco prices. The August PPI was up 0.5% -- but the core rate fell 0.1%. Economists at Morgan Stanley Dean Witter think that the rise in tobacco costs alone accounts for 0.5 percentage points and will boost the core PPI 0.8%. Mixed in with all the to and fro about economics and the Fed, however, are high hopes for third-quarter earnings. Good earnings news will certainly keep stock investors happy. The reporting season picks up steam next week, and the tech sector dominates the schedule. Intel (INTC), Apple Computer (AAPL), Motorola (MOT), Sun Microsystems (SUNW) and Seagate Technology (SEG) are reporting quarterly results. A lot of attention will continue to be focused on whether the Taiwan earthquake is causing component shortages or disruptions in production. Many analysts are predicting more earnings surprises from the Internet group after Yahoo! (YHOO) blew away forecasts earlier this week. Internet concerns DoubleClick (DCLK) and Earthlink (ELNK) are on deck next week. Dow components General Motors (GM), International Paper (IP) and Caterpillar (CAT) are also releasing results, and could affect the blue-chip index. And analysts will keep a close eye on whether the recent market downdraft has hurt capital-markets revenue at brokerages like Merrill Lynch (MER) and Donaldson, Lufkin & Jenrette (DLJ), and are waiting to see if First Union (FTU) has solved troubles in its First USA credit-card unit. Friday Alerts.......... AMTD 19.75, -1.0625 TODAY: Price dropped 5% ATHM 49.875, +1.8125 Oct 6: Coverage initiated by Warburg Dillon Read at Buy Oct 8: Coverage initiated by Dain Rauscher Wessels at Buy BYND 15.125, +0.75 TODAY: Price rose 5% CIEN 36.78125, +1.28125 Oct 6: Upgraded by Warburg Dillon Read from Hold to Buy COVD 41.875, +2.25 TODAY: Price rose 6% CYCH 9.0625, -0.125 Oct 4: Upgraded by Prudential from Hold to Strong Buy DLJ 40.875, -0.5 Oct 6: Coverage initiated by Sanford Bernstein at Mkt Perform DO 30.875, -0.875 Oct 8: Upgraded by Banc of America Sec from Market Perform to Buy EBAY 151.125, +1 Oct 6: Coverage initiated by Lehman Brothers at Buy INKT 129.875, +7.125 TODAY: Price rose 6% Oct 7: Coverage initiated by Salomon Smth Brny at Outperform JBL 52.375, -2.0625 Oct 7: Downgraded by BB Rbrtsn Stphns from Buy to LT Attractive JBOH 8.1875, -0.46875 TODAY: Price dropped 5% MER 68.5625, -1.4375 Oct 4: Downgraded by Brown Brothers from ST Buy to ST Neutral Oct 6: Coverage initiated by Sanford Bernstein at Mkt Perform Oct 8: Downgraded by Mrgn Stnly Dn Wttr from Outperform to Neutral NITE 29.96875, -0.53125 Oct 6: Coverage initiated by Sanford Bernstein at Underperform ONSL 17.875, +1.0625 TODAY: Price rose 6% PAGE 0.84375, -0.0625 TODAY: Price dropped 7% QCOM 213.9375, +13.375 TODAY: Price rose 7% QWST 36.46875, +1.53125 Oct 7: Downgraded by AG Edwards from Buy to Accumulate RIG 26.875, -0.875 Oct 8: Upgraded by Banc of America Sec from Market Perform to Buy SBUX 24.125, +0.5625 Oct 7: Upgraded by Bear Stearns from Neutral to Attractive SCH 33.5625, -2.1875 TODAY: Price dropped 6% Oct 6: Coverage initiated by Sanford Bernstein at Underperform Oct 8: Downgraded by Mrgn Stnly Dn Wttr from Outperform to Neutral SFSK 8.75, +0.5 TODAY: Price rose 6% VRSN 115.25, -4.375 Oct 7: Coverage initiated by First Analysis Sec at Accumulate WAVO 4.125, -0.25 TODAY: Price dropped 6% YHOO 192.125, +1.875 Oct 6: Earnings report announced. Click here for story Oct 7: Upgraded by Deutsche Bc Alex. Br from Buy to Strong Buy Oct 7: Upgraded by E*OFFERING from Buy to Strong Buy Oct 7: Upgraded by Robinson Humphrey from ST Hold to ST Buy