Market Wrap-up for Thursday, January 18, 2001
INDICES:
[DJIA] Closed up 93.94 to 10678.28, a gain of 0.88%
[Nasdaq] Closed up 85.71 to 2768.49, a gain of 3.19%
[S&P] Closed up 18.50 to 1347.97, a gain of 1.39%
[30-Year Bond] Closed down 0.83% to 5.48%
MOVERS:
Largest Point Gainers: (SDLI)+22 ½, (PMCS)+13 1/16, (CHKP)+11 5/8, (IBM)+11 5/8, (AVNX)+11 3/16, (MERQ)+9 5/8
Largest % Gainers: (CONV)+60.0%, (VINA)+53.4%, (SMNS)+50.0%, (NWRE)+48.9%, (BROA)+43.8%, (SPLN)+43.2%
SHAKERS:
Largest Point Losers: (EPNY)-10 3/8, (DSL)-9 9/16, (RBAK)-7 9/16, (PHTN)-7 5/32, (STT)-7.15, (ALSI)-7 1/16
Largest % Losers: (VIGN)-37.5%, (ENGA)-30.4%, (PHTN)-26.3%, (MBAY)-22.9%, (EPNY)-22.6%, (CPTH)-22.4%
IPO’s: none
SPLITS:
-Companies trading on a split adjusted basis today-
(IDPH) IDEC Pharmaceuticals, 3 to 1
-Companies trading on a split adjusted basis Friday-
(AJG) Arthur J. Gallagher & Co, 2 to 1
UPGRADES:
ABN Amro Upgrades Calpine To Buy From Add (CPN)
Bear Stearns Hikes Mellon Fin'l Target To $54 From $46 (MEL)
CS First Boston Hikes Tyco Int'l Target By $15 To $80 (TYC)
CS First Boston Lifts Williams Cos. Target To $58 From $56 (WMB)
CSFB Lifts Sanmina Target To $58-$60 From $54 (SANM)
Deutsche Banc Upgrades LNR Properties To Strong Buy (LNR)
Lehman Ups Citrix Sys Target $10 To $40, Keeps Strong Buy (CTXS
Miller Johnson Ups Epimmune To Buy From Neutral >EPMN
Pacific Crest Upgrades Symantec To Strong Buy (SYMC)
Prudential Hikes Alliance Capital Target To $57 From $51 (AC)
Prudential Hikes Kinder Morgan Target To $67 From $59 (KMP)
Prudential Raises Mercury Computer Goal To $51 (MRCY)
Prudential Upgrades Kinder Morgan, Sees Strong Growth Ahead (KMI)
Robertson Stephens Lifts Advanced Micro Devices To Buy (AMD)
Salomon Hikes IBM Target By $10 To $140, Keeps At Buy (IBM)
Salomon Ups Toyota Motor To Outperform From Neutral (TOYOF)
SG Cowen Hikes Apple Target $3 To $23, Keeps At Buy (AAPL)
SG Cowen Upgrades Computer Associates To Strong Buy (CA)
SG Cowen Ups Mercury Computer Target To $48-$51 Zone (MRCY)
Stephens Inc. Upgrades Clarus To Outperform, $15 Target (CLRS)
UBS Warburg Upgrades Citrix Sys To Strong Buy, $40 Goal (CTXS)
UBS Warburg Ups Mercury Computer Goal To $52 From $40 (MRCY)
Wedbush Ups Greater Bay Bancorp Goal To $45, Reits Buy (GBBK)
DOWNGRADES:
A.G. Edwards Downgrades Scient To Reduce From Maintain (SCNT)
A.G. Edwards Downgrades Talx To Accum On Valuation (TALX)
A.G. Edwards Drops Scient To Reduce On Business Outlook (SCNT)
ABN Amro Downgrades Analog Devices To Add From Buy (ADI)
ABN Amro Downgrades Metris Cos. To Add From Buy (MXT)
Adam Harkness Cuts IntraBiotics To Buy From Strong Buy>IBPI
Baird Cuts Heartland Express To Market Perform>HTLD
Brean Murray Cuts Jupiter Media To Accumulate From Buy>JMXI
C.E. Unterberg Towbin Cuts Mercury Interactive To Buy>MERQ
CIBC Chops Schwab 2001 EPS View To $0.60 From $0.70 (SCH)
CIBC Clips Mercury Interactive Target To $100 From $145 (MERQ)
CIBC Downgrades Mondavi To Buy From Strong Buy (MOND)
CIBC Reduces Alpha Industries Target By $40 To $60 (AHAA)
CSFB Lowers Jupiter Media Metrix Goal By $10 To $14 (JMXI)
Dain Rauscher Cuts GM 1Q 2001 EPS To $0.53 From $1.29 (GM)
Dain Rauscher Cuts GM 2001 EPS View To $3.00 From $4.95 (GM)
Dain Rauscher Downgrades Analog Devices To Neutral (ADI)
Dain Rauscher Downgrades Tweeter To Buy From Strong Buy (TWTR)
Dain Rauscher Lowers BroadVision To Buy, Cuts Goal To $25 (BVSN)
Dain Rauscher Lowers Linear Tech To Neutral From Strong Buy (LLTC)
Dain Rauscher Lowers Tweeter Home To Buy, $27 Goal (TWTR)
Dain Rauscher Lowers Vignette To Neutral From Strong Buy (VIGN)
Dain Rauscher: Only Reason Not To Short GM Is Hughes (GMH)
Deutsche Banc Lowers Scient To Market Perform From Buy (SCNT)
Ferris Baker Cuts DMC Stratex Net to Buy From Strong Buy>STXN
First Charter Sees Below-Consensus 2001 Earnings (FCTR)
Goldman Cuts Lehman Bros. To Mkt Perform From Outperform (LEH)
ING Barings Cuts America West To Hold From Buy >AWA
Jefferies Clips Redback Target $50 To $80, Keeps Accum. (RBAK)
Jefferies Cuts Advantage Learning To Underperform From Hold (ALSI)
Jefferies Downgrades Greater Bay Bancorp To Hold (GBBK)
Jefferies Drops Advantage Learning To Underperform On Price (ALSI)
Jefferies Lowers Greater Bay To Hold On Valuation (GBBK)
Lehman Cuts TRW Inc. To Market Perform From Strong Buy (TRW)
Lehman Downgrades Bank One To Market Perform From Buy (ONE)
Lehman Downgrades VA Linux To Mkt Perform From Buy (LNUX)
McDonald Downgrades Diebold To Hold From Buy (DBD)
Merrill Downgrades McCormick To I-T Accum. From Buy (MKC)
Pacific Crest Cuts Ameritrade Goal To $12, Keeps Strong Buy (AMTD)
Prudential Clips Boeing Target $8 To $72, Keeps At Accum. (BA)
Prudential Clips Clarent Target $10 To $20, Keeps Accum. (CLRN)
Prudential Clips Knight Trading Goal To $24, Reits Accum. (NITE)
Prudential Clips Natural MicroSys Goal To $10, Reits Hold (NMSS)
Prudential Cuts Xilinx Goal $23 To $77, Keeps Strong Buy (XLNX)
Remy Capital Cuts UTI Energy Stake To 15.3% From 18.8% (UTI)
Robbie Stephens Cuts Jupiter Media Metrix To L-T Attractive (JMXI)
Salomon Clips Xilinx Target $5 To $50, Keeps Outperform (XLNX)
Salomon Cuts AirNet To Outperform, Halves Target To $15 (ANCC)
Salomon Cuts Art Tech Group To Outperform From Buy >ARTG
Salomon Downgrades Ralston Purina To Neutral From Buy (RAL)
SG Cowen Downgrades Ravisent To Neutral From Buy (RVST)
SG Cowen Lowers Redback Networks To Buy From Strong Buy (RBAK)
Stephens Downs Provident Fin'l To Outperform From Buy (PFGI)
Stephens Lowers Provident Fin'l To Outperform From Buy (PFGI)
Sutro Downgrades City National Corp. To Hold From Buy (CYN)
Thomas Weisel Downgrades Extreme Networks To Buy (EXTR)
Thomas Weisel Lowers Jupiter Media Metrix To Mkt Perform (JMX
UBS Warburg Cuts Metris To Hold From Buy (MXT)
UBS Warburg Downgrades Avery Dennison To Hold From Buy (AVY)
UBS Warburg Downgrades CompuCredit To Hold From Buy (CCRT)
UBS Warburg Lowers Delphi Automotive To Hold, $13 Goal (DPH)
USB Piper Lowers Alpha Industries Goal By $20 To $45 (AHAA)
Warburg Hands Downgrades To CompuCredit, Metris (CCRT)
WR Hambrecht Downgrades Robert Mondavi To Neutral From Buy (MOND)
COVERAGE INITIATED:
A.G. Edwards Initiates Cleco Corp. At Maintain (CNL)
Bear Stearns Initiates i2 Tech At Buy, $64 Target (ITWO)
Bear Stearns Initiates Manugistics At Buy, $72 Target (MANU)
Bear Stearns Initiates webMethods At Attractive, $88 Goal (WEBM)
Bear Stearns Starts BEA Systems At Attractive, $56 Target (BEAS)
Bear Stearns Starts Energizer At Attractive, $34 Target (ENR)
BlueStone Starts Millennium Cell At Outperform >MCEL
CIBC Initiates Abraxas Pete At Strong Buy, Dubs 'Deep Value' (ABP)
CIBC Initiates Abraxas Petroleum At Strong Buy, $6 Target (ABP)
CS First Boston Assumes Sysco With Hold Rating (SYY)
Deutsche Banc Initiates Chevron At Market Perform (CHV)
Deutsche Banc Initiates Exxon Mobil With Buy Rating (XOM)
Deutsche Banc Initiates Texaco At Market Perform (TX)
Deutsche Banc Starts Conoco With Buy Recommendation (COC.B)
Jefferies Initiates HealthSouth At Buy, $22 Target (HRC)
JP Morgan Initiates Nokia At Buy, $47 Target (NOK)
Ladenburg Thalmann Starts Kmart At NT/LT Buy, $9.25 Target (KM)
McDonald Initiates Handspring At Buy, $70 Target (HAND)
McDonald Investments Initiates Metricom At Hold (MCOM)
McDonald Investments Initiates Palm Inc. At Hold (PALM)
Morgan Stanley Initiates Sysco At Outperform, $35 Goal (SYY)
Morgan Stanley Starts Openwave At Strong Buy, $80 Goal (OPWV)
Pacific Crest Initiates Oracle At Buy, $42 Target (ORCL)
Prudential Initiates Stryker At Accumulate, $53 Target (SYK)
Salomon Initiates Capstone Turbine At Buy, $50 Target (CPST)
USB Piper Initiates Direct Focus At Strong Buy, $32 Target (DFXI)
USB Piper Initiates Gart Sports At Strong Buy, $19 Goal (GRTS)
COVERAGE REITERATED/REINSTATED:
CS First Boston Keeps Apple At Hold, Reduces Estimates (AAPL)
CS First Boston Reinstates 724 Solutions At Buy (SVNX)
CS First Boston Reiterates Kopin At Buy, $20 Target (KOPN)
Kaufman Reinstates Redback Networks At Accum, $60 Goal (RBAK)
Merrill Lynch Maintains ACE Ltd. At I-T/L-T Buy (ACL)
Merrill Maintains Apple At I-T Neutral, L-T Accumulate (AAPL)
Merrill Maintains WorldCom At I-T Neutral, L-T Accum. (WCOM)
Merrill Reiterates Mercury Interactive At I-T/L-T Buy (MERQ)
Prudential Reiterates NetIQ At Strong Buy, $110 Goal (NTIQ)
Prudential Reiterates Travelocity At Strong Buy/$25 Goal (TVLY)
Southwest Re-initiates Fossil At Buy, $24 Price Goal (FOSL)
Southwest Reiterates Blue Wave Systems At Buy, $11 Goal (BWSI)
Southwest Reiterates Ensco Int'l At Buy, $51 Target (ESV)
Wedbush Maintains NBC Internet At Hold, $6.50 Target (NBCI)
-Today-
8:30AM: Initial Claims for 01/13, consensus is 355k
Results:
Weekly jobless claims fell 37,000 to 306,000,
8:30AM: Housing Starts for December, consensus is 1.5M
Results:
December Housing starts were flat at 1.57 million pace vs 1.50 million expected.
December Single-family starts up 6% to 1.31 million.
2000 Housing starts were off 4% to 1.59 million vs 1.67 million
8:30AM: Building Permits for December
Results:
December Building permists down 7% to 1.49 million pace.
Single-family permits were off 3%
10:00AM: Philadelphia Fed for January, consensus is –7.1%
Results:
Phila Fed Jan Business Activity index lowest since December 1990
Philadelphia Fed Jan Business Index -36.8 Vs Dec -4.2
Yahoo! (YHOO) Thursday, January 18, 2001, 11:14
Yesterday there were rumors that YHOO was a takeover candidate. Today, Merrill's Blodget said that while Yahoo! is unique asset that would be highly valuable to major media company, he sees little change of that right now (although a strategic investment would not surprise him.)
ONI Systems (ONIS) Thursday, January 18, 2001, 10:29
Gilder added ONIS to their recommended list.
Sun Microsystems (SUNW) Thursday, January 18, 2001, 9:17
America Online (AOL) expanded their commitment to purchase Sun products and services by more than $400 mln over 2 yrs. |
