Market Wrap-up for Wednesday, January 17, 2001 Posted Wednesday, January 17, 2001,
INDICES:
[DJIA] Closed down 68.32 to 10584.34, a loss of 0.64%
[Nasdaq] Closed up 64.23 to 2682.78, a gain of 2.45%
[S&P] Closed up 2.82 to 1329.47, a gain of 0.21%
[30-Year Bond] Closed down 1.85% to 5.50%
MOVERS:
Largest Point Gainers: (SDLI)+22 7/16, (PMCS)+11 3/16, (BRCM)+10 13/16, (VRSN)+10 1/8, (AMCC)+9 15/16, (EMLX)+9 15/16
Largest % Gainers: (EPMN)+105.0%, (WJCI)+52.6%, (ENGA)+43.8%, (VYYO)+43.1%, (ORFR)+42.1%, (IBUY)+36.7%
SHAKERS:
Largest Point Losers: (NTIQ)-13 ¾, (MACR)-13 11/16, (APWR)-12 9/16, (JKHY)-9 1/8, (IDPH)-8 11/16, (BBH)-7 5/8
Largest % Losers: (CQB)-32.0%, (MACR)-31.1%, (FTRL)-30.0%, (IONN)-35.0%, (CQB-A)-25.0%, (APWR)-24.6%
IPO’s: none
SPLITS:
-Companies trading on a split adjusted basis today-
(EAT) Brinker International, 2 to 1
(SCHL) Scholastic Corp, 2 to 1
-Companies trading on a split adjusted basis Thursday-
(IDPH) IDEC Pharmaceuticals, 3 to 1
UPGRADES:
BB&T Upgrades Actuate To L-T Buy From Hold, $30 Target (ACTU)
BB&T Upgrades Standard Commercial To L-T Buy, $11 Goal (STW)
Bear Stearns Upgrades Key Energy To Buy, New $20 Goal (KEG)
CSFB Hikes General Electric Target $9 To $69, Reits Buy (GE)
CSFB Upgrades Support.com To Strong Buy From Buy (SPRT)
Deutsche Banc Upgrades eBay To Buy From Market Perform (EBAY)
Dresdner Kleinwort Ups Simon Ppty To Buy From Outperform (SPG
Gabelli Boosts Thomas Indus. Stake To 18.19% From 17.18% (TII)
Gilford Ups Photogen Tech To Buy From Attractive (PHGN
Jefferies Lifts Remington Oil Target To $18, Reits 'Buy' (ROIL)
Kaufman Bros. Ups Applied Micro Target To $85 From $75 (AMCC)
Legg Mason Ups Ross Stores Goal $6 To $26, Keeps At Buy (ROST)
Morgan Keegan Ups Clayton Homes To Outperform (CMH
Prudential Hikes LeCroy Target $6 To $26, Keeps Accum. (LCRY)
Prudential Hikes PanAmSat Target To $42, Reits Accumulate (SPOT)
Prudential Ups Forest Labs Target $6 To $75, Keeps Accum. (FRX)
Prudential Ups Weatherford Goal $15 To $65, Keeps Strong Buy (WFT)
Salomon Hikes Agilent Target $10 To $70, Keeps Outperform (A)
Salomon Upgrades LeCroy To Outperform, New $25 Target (LCRY)
Salomon Ups Nat'l Instruments Goal $8 To $60, Keeps Buy (NATI)
Stephens Upgrades John H. Harland To Buy From Outperform (JH)
UBS Warburg Lifts Quest Diagnostics Target By $10 To $160 (DGX)
USB Piper Hikes Capital One Fin'l Target To $71 From $69 (COF)
Wedbush Ups East West Bancorp Goal To $28, Reits Strong Buy (EWBC)
Wit SoundView Improves Support.com Estimates (SPRT)
Wit SoundView Lifts SBS Tech Target To $37, Reits 'Buy' (SBSE)
DOWNGRADES:
BB&T Initiates Furniture Brands At Strong Buy, $26 Target (FBN)
Banc Of America Cuts Macromedia To Buy From Strong Buy (MACR)
Banc Of America Cuts RF Micro To Buy From Strong Buy (RFMD)
Bear Stearns Cuts Diamond Offshore To Attractive, $50 Goal (DO)
Bear Stearns Downgrades Baker Hughes To Attractive (BHI)
Bear Stearns Downgrades Global Marine To Attractive (GLM)
Bear Stearns Downgrades Weatherford Int'l To Attractive (WFT)
Bear Stearns Drops Rowan Cos. To Attractive, $35 Goal (RDC)
Bear Stearns Lowers Schlumberger To Attractive, $90 Goal (SLB)
Bear Stearns Reduces Halliburton To Attractive From Buy (HAL)
CIBC Clips Evoke Target To $10 From $18, Keeps At Buy (EVOK)
CIBC Lowers Vyyo Target To $16 From $30, Keeps At Buy (VYYO)
CS First Boston Cuts Emerson Electric To Hold From Buy (EMR)
Deutsche Banc Cuts VoiceStream To Buy From Strong Buy (VSTR)
Gerard Klauer Cuts MGM Mirage To Neutral From Buy (MGG
Jefferies Lowers Golden State Bancorp Goal By $3 To $32 (GSB)
Jefferies Lowers Netopia Goal $6 To $12, Keeps At Accum. (NTPA)
J Michael Patrick Cuts Metro One Telecom To Buy >MTON
Lehman Downgrades Intel To Market Perform From Buy (INTC)
Merrill Clips Intel 2001 EPS View To $1.17 From $1.41 (INTC)
Merrill Downgrades Macromedia To I-T Neutral From Buy (MACR)
Prudential Cuts Medical Device Sector To Accum. From Strong Buy
Prudential Downgrades Home Depot To Hold From Strong Buy (HD)
Prudential Downgrades Medical Device Sector To 'Accumulate'
Prudential Slashes MCK Comm. Target To $7 From $30 (MCKC)
Raymond James Cuts Insurance Mgmt To Underperform (INMG
Salomon Cuts Dell Fiscal 4Q EPS View To $0.23 From $0.26 (DELL)
Salomon Cuts Southwest Air To Outperform, Ups Goal To $33 (LUV)
Salomon Downgrades Hertz To Neutral On Ford Buyout (HRZ)
Salomon Lowers Portugal Telecom To Outperform From Buy (PT)
Salomon Lowers Telesp Celular To Neutral From Outperform (TCP)
SG Cowen Downgrades 3M On 4Q Shortfall (MMM)
SG Cowen Downgrades 3M To Neutral From Strong Buy (MMM)
Stephens Reduces Lifemark To 'Neutral' On Exchange Rate (LMRK)
Sutro Downgrades Wells Fargo To Accumulate On Valuation (WFC)
Thomas Weisel Downgrades Selectica To Buy From Strong Buy (SLTC)
UBS Warburg Clips Intel 2001 EPS View To $1.31 From $1.54 (INTC)
USB Piper Downgrades DVI Inc. To Buy From Strong Buy (DVI)
USB Piper Downgrades Macromedia To Neutral From Buy (MACR)
USB Piper Downgrades Quest Diagnostics To Buy, $117 Goal (DGX)
USB Piper Clips Valspar Target $2 To $36, Keeps At Buy (VAL)
USB Piper Reduces Selectica Goal To $32 From $75 (SLTC)
Wit SoundView Lowers Intel Goal By $7 To $41, Keeps At Buy (INTC)
WR Hambrecht Lowers VA Linux To Neutral On Shortfall (LNUX)
COVERAGE INITIATED:
CS First Boston Initiates IDX Systems At Hold (IDXC)
CS First Boston Starts AmeriPath At Buy, $31 Target (PATH)
Deutsche Banc Initiates Brinker Int'l At Market Perform (EAT)
Deutsche Banc Initiates McDonald's At Buy, $41 Target (MCD)
Deutsche Banc Initiates Scientific Atlanta At Strong Buy (SFA)
Deutsche Banc Initiates Tricon Global At Market Perform (YUM)
Deutsche Banc Initiates Wendy's At Buy, $34 Target (WEN)
Deutsche Banc Starts Darden Restaurants At Market Perform (DRI)
Deutsche Banc Starts Outback Steakhouse At Market Perform (OSI)
Dougherty & Co Starts I-Stat Corp At Strong Buy (STAT
Goldman Initiates Art Technology At Market Outperform (ARTG)
Merrill Initiates Dal-Tile At I-T Accum/L-T Buy, $19 Goal (DTL)
Merrill Starts Park Electrochemical At I-T Accum., L-T Buy (PKE)
Raymond James Starts Brooktrout With Mkt Perform Rating (BRKT
Raymond James Starts Clarent At Buy (CLRN
Ryan Beck Starts Qualcomm With Strong Buy Rating (QCOM
Thomas Weisel Starts Scientific-Atlanta At Market Perform (SFA)
UBS Warburg Initiates Manpower At Hold, $35 Target (MAN)
UBS Warburg Initiates Manugistics At Buy, $56 Target (MANU)
UBS Warburg Starts Leggett & Platt At Buy, $26 Goal (LEG)
COVERAGE REITERATED/REINSTATED:
Bear Stearns Reiterates Intel At Buy (INTC)
CIBC Reiterates Handspring At Strong Buy, $90 Target (HAND)
CS First Boston Assumes Watson Pharma At Buy, $60 Goal (WPI)
CS First Boston Reinstates Aetna Inc. At Hold (AET)
CSFB Reinstates American Medical Security At Hold (AMZ)
CSFB Reinstates Exodus Comm. At Buy, $45 Target (EXDS)
CS First Boston Reinstates New Focus At Buy, $60 Goal (NUFO)
Lehman Reiterates Handspring At Buy, $90 Target (HAND)
Lehman Reiterates Juniper Networks At Buy, $175 Target (JNPR)
Merrill Keeps Abbott Labs At I-T/L-T Accum., $52 Goal (ABT)
Merrill's Osha Keeps Intel At I-T/L-T Accumulate (INTC)
Merrill's Osha Says Intel 2001 Outlook 'Appears Bleak' (INTC)
Pacific Crest Reits Applied Microcircuits At Strong Buy (AMCC)
Pru Reiterates 'Sell' On BGEN, Sees 'Inconsistencies' In Data
Prudential Maintains Biogen At 'Sell' Rating (BGEN)
Prudential Reiterates eBay At Strong Buy, $125 Goal (EBAY)
Salomon Keeps Intel At Outperform, Sees Downside Risk To $25 (INTC)
Sutro & Co. Maintains Elantec Semi At Buy, $60 Target (ELNT)
Sutro Maintains Advent Software At Buy, $75 Target (ADVS)
UBS Warburg Maintains Intel At Buy, $40 Target (INTC)
Wedbush Reits Northrim At L-T Attractive, Ups Goal To $13 (NRIM)
WR Hambrecht Maintains Vyyo 'Buy' Rating, $50 Target (VYYO)
ECONOMIC DATA:
-Today-
8:30AM: Consumer Price Index for December, consensus is 0.2%
8:30AM: Real earnings for December
Results: CPI was +0.2%
U.S. DEC CPI +0.2 PCT (NOV +0.2
US 2000 CPI LARGEST SINCE +6.1% IN 1990, CORE LARGEST SINCE +2.6% IN 1996
U.S. 2000 CPI +3.4% (+2.7% IN 1999), CORE +2.6% (+1.9% IN 1999)
9:15AM: Industrial Production, consensus is –0.5%
9:15AM: Capacity Utilization for December, consensus is 80.9%
Results:
U.S. DEC INDUSTRIAL OUTPUT -0.6% (NOV -0.2), CAPACITY USE 80.6% (81.6)
Nov Industrial Production Revised To -0.3% From -0.2%
November Operating Rate Revised To 81.4% From 81.6%
U.S. DEC INDUSTRIAL OUTPUT DECLINE LARGEST SINCE -0.7 IN JUNE'98
U.S. 2000 INDUSTRIAL OUTPUT +5.7 PCT VS 1999 +4.2 PCT
U.S. Q4'00 INDUSTRIAL OUTPUT -1.1 PCT VS REV Q3 +3.5 PCT (+3.7)
Genomic Stocks Posted Wednesday, January 17, 2001, at: 13:22 PM
CIBC stated their top 9 Genomics Picks for 2001:
(ARQL) ArQule, forward integration into drug discovery, $55 target.
(BDAL) Bruker Daltonics, growing sales of mass spectrometers, $49 target.
(CALP) Caliper Technologies, additional collaborations; new chip launches, $153 target.
(GNOM) Genomica, conversion of Discovery Manager to Oracle, $27 target.
(HGSI) Human Genome Sciences, progress on pipeline compounds, new drugs, $130 target.
(LEXG) Lexicon Genetics, antibody-based drug discovery, $30 target.
(MLNM) Millennium Pharmaceuticals, pipeline progress; small-molecule drugs into the clinic, $113 target.
(MYGN) Myriad Genetics, small-molecule drugs into the clinic; proteomics leader, $141 target.
(VGNX) Variagenics, additional pharmacogenomics collaborations, not rated. |
