Market Wrap-up for Wednesday, January 23, 2001 Posted Tuesday, January 23, 2001,
INDICES:
[DJIA] Closed up 71.57 to 10649.81, a gain of 0.67%
[Nasdaq] Closed up 82.48 to 2840.39, a gain of 2.99%
[S&P] Closed up 17.50 to 1360.40, a gain of 1.30%
[30-Year Bond] Closed down 0.28% to 5.59%, high of day was 5.65%
MOVERS:
Largest Point Gainers: (ALXN)+14 ¼, (SDLI)+14 1/8, (OPWV)+13, (EMLX)+11 3/32, (QLGC)+10 7/16, (ONIS)+8 15/16,
Largest % Gainers: (TIGA)+57.7%, (GLBN)+51.6%, (EFTD)+47.2%, (NTFY)+40.5%, (GSY)+36.8%, (NWCI)+36.4%
SHAKERS:
Largest Point Losers: (AMSC)-9 11/16, (CANI)-7 7/8, (FMKT)-4 15/16, (CRTK)-4 11/16, (CYT)-3 5/8, (TXN)-3 9/16
Largest % Losers: (CMTO)-32.7%, (AMSC)-29.5%, (USL)-25.5%, (CANI)-23.1%, (LCTO)-22.4%, (CORL)-21.8%
IPO’s: none
SPLITS:
-Companies trading on a split adjusted basis today- none
-Companies trading on a split adjusted basis Wednesday- none
UPGRADES/DOWNGRADES/INITIATED/REITERATED:
A.G. Edwards Starts Affiliated Computer At Buy, $80 Goal (ACS)
A.G. Edwards Upgrades Callaway Golf To Buy From Accum. (ELY)
ABN AMRO Downgrades Tellabs To Add From Buy (TLAB)
ABN Amro Downgrades Texas Instruments To Hold From Add (TXN)
ABN Amro Reiterates American Express At Add (AXP)
Baird Cuts FreeMarkets To Market Perform (FMKT)
Banc Of America Initiates Intermagnetics At Buy, $35 Target (IMG)
BB&T Hikes First Fin'l Target $5 To $23, Keeps Strong Buy (FFCH)
BB&T Reiterates SBC Comm. At Strong Buy, $67 Target (SBC)
Bear Stearns Clips American Express Target To $55 From $60 (AXP)
Bear Stearns Cuts Wit SoundView To Neutral From Buy (WITC)
Bear Stearns Upgrades Dell To Attractive From Neutral (DELL)
Bear Stearns Upgrades IMS Health To Buy From Attractive (RX)
CIBC Reiterates Dynegy At Strong Buy, $60 Target (DYN)
CIBC Reiterates Merrill Lynch At Strong Buy, $85 Goal (MER)
CIBC Reiterates Nextel Partners At Strong Buy, $30 Goal (NXTP)
CIBC Upgrades PRI Automation To Strong Buy From Buy (PRIA)
CS First Boston Downgrades AnnTaylor To Hold From Buy (ANN)
CS First Boston Downgrades Com21 To Hold From Buy (CMTO)
CS First Boston Downgrades InfoSpace To Hold From Buy (INSP)
CS First Boston Reiterates Nokia At Strong Buy (NOK)
CS First Boston Restarts Emmis At Buy, $47 Target (EMMS)
CS First Boston Starts Crown Media At Buy, $26 Target (CRWN)
CS First Boston Upgrades Dynegy To Buy, Hikes Goal To $64 (DYN)
CSFB Clips American Express Target To $50 From $60 (AXP)
CSFB Clips Texas Instruments Target To $45, Keeps Buy (TXN)
CSFB Hikes Computer Associates Target To $58 From $40 (CA)
CSFB Hikes Kemet Target By $5 To $35, Keeps At Buy (KEM)
Dain Rauscher Drops Texas Inst. To Neutral From Strong Buy (TXN)
Dain Rauscher Lowers InfoSpace To Neutral From Strong Buy (INSP)
Dain Rauscher Starts Abercrombie & Fitch At Buy, $31 Goal (ANF)
Dresdner Kleinwort Downgrades Nokia To Sell From Reduce (NOK)
First Union Hikes Rare Hospitality Target To $30 From $26 (RARE)
Goldman Cuts FreeMarkets To Outperform From Trading Buy (FMKT)
Goldman Raises EMC Corp. 2001 EPS To $1.05 From $1.00 (EMC)
ING Barings Initiates Adolph Coors At Buy, $70 Target (RKY)
ING Barings Initiates Firstar At Buy, $28 Target (FSR)
ING Barings Initiates Firstar At Buy, State Street At Hold (FSR)
ING Barings Initiates State Street At Hold (STT)
ING Barings Lowers Computer Sciences To Hold From Buy (CSC)
J.P. Morgan Initiates Costco At Market Perform, $40 Goal (COST)
J.P. Morgan Reiterates Nokia At Buy (NOK)
Jefferies Initiates AmSurg At Buy, $28 Target (AMSGA)
Jefferies Lifts LaBranche Goal To $45 From $40, Keeps Buy (LAB)
Jefferies Reiterates Retek At Buy, Sets $53 N-T Target (RETK)
Jefferies Starts AmSurg At Buy, $28 Objective (AMSGA)
JP Morgan Initiates Costco At Market Perform, $40 Goal (COST)
Kaufman Cuts Com21 Target To $11 From $19, Rates 'Accum' (CMTO)
Kaufman Downgrades Sema Group To Hold From Accumulate (SEMA)
Kaufman Upgrades Tioga To Accumulate From Hold (TIGA)
Kaufman Upgrades Vitesse To Buy, Hikes Target To $105 (VTSS)
Lehman Downgrades Sapient To Market Perform From Buy (SAPE)
Lehman Initiates Coventry Health At Buy, $24 Target (CVTY)
Lehman Initiates Oxford Health At Strong Buy, $45 Target (OXHP)
Lehman Lowers Sapient, Sees Pain For Small Consulting Firms (SAPE)
Lehman Sees Starbucks Meeting Estimates, Keeps At Buy (SBUX)
Lehman Upgrades PacifiCare To Buy From Market Perform (PHSY)
Merrill Clips Texas Instruments Target To $75 From $105 (TXN)
Merrill Downgrades FreeMarkets To I-T Accum. From Buy (FMKT)
Merrill Downgrades InfoSpace To I-T Neutral, L-T Accum. (INSP)
Merrill Downgrades Merck To I-T Accumulate From Buy (MRK)
Merrill Initiates EastGroup At Accumulate, $24.50 Target (EGP)
Merrill Lynch Initiates Pactiv At I-T Accumulate, L-T Buy (PTV)
Merrill Maintains Callaway Golf At I-T/L-T Accumulate (ELY)
Merrill Starts Pactiv At I-T Accumulate, L-T Buy, $16 Goal (PTV)
Merrill Upgrades Abercrombie & Fitch To I-T Buy From Accum. (ANF)
Merrill Upgrades American Express To I-T Buy From Accum. (AXP)
Merrill Upgrades American Express, Names To Focus 1 List (AXP)
Merrill Upgrades K-Swiss To I-T Accumulate From Neutral (KSWS)
Morgan Stanley Reiterates Safeway At Strong Buy, $72 Goal (SWY)
Morgan Stanley Upgrades Canadian Pacific To Outperform (CP)
Morgan Stanley Ups Canadian Pacific, Sees 'Limited Downside'(CP)
Morgan Stanley Ups Computer Assoc. To Outperform, $45 Goal (CA)
Pacific Crest Downgrades Vitesse To Buy From Strong Buy (VTSS)
Pacific Crest Lowers InfoSpace To Buy From Strong Buy (INSP)
Pru Cuts Danka To Sell; Fin'l Conditions 'Deteriorating' (DANKY)
Prudential Downgrades Danka Business To Sell From Hold (DANKY)
Prudential Hikes Texas Instruments Goal By $14 To $70 (TXN)
Prudential Lifts Computer Associates Target By $6 To $40 (CA)
Prudential Reits Concord EFS At Strong Buy, $60 Target (CEFT)
Salomon Cuts Amer. Express Target $11 To $54, Keeps Buy (AXP)
Salomon Cuts Silicon Labs Goal $50 To $40, Keeps Outperform (SLAB)
Salomon Downgrades M-Systems, Slashes Target To $18 (FLSH)
Salomon Hikes Brazil's Copel Target To $15 From $10.50 (ELP)
Salomon Lowers M-Systems To Outperform, Target To $18 (FLSH)
Salomon Maintains Texas Instruments At Outperform (TXN)
Sands Brothers Cuts EBay To Neutral From Buy (EBAY)
Sanford Bernstein Starts NTL Inc. At Market Perform (NLI)
SG Cowen Clips DSP Group Target To $40-$45 From $85-$90 (DSPG)
SG Cowen Clips Silicon Labs Target $10 To $25, Keeps Buy (SLAB)
SG Cowen Hikes Health Net Target To Low $30s (HNT)
SG Cowen Hikes UnitedHealth Target To $80 From $70 (UNH)
SG Cowen Hikes WellPoint Target To Mid-$150s From $135 (WLP)
SG Cowen Initiates Manugistics At Buy, $54 Target (MANU)
SG Cowen Ups First Health Target To High $50s From $50 (FHCC)
Southwest Initiates RadioShack At Buy, $65 Target (RSH)
Southwest Reiterates Louis Dreyfus At Buy, $46 Target (LD)
Stephens Restarts Descartes Systems At Neutral, $28 Goal (DSGX)
Sutro Hikes ICN Pharma Target By $5 To $35, Reits Buy (ICN)
Thomas Weisel Cuts Texas Instruments Goal To $75 From $120 (TXN)
Thomas Weisel Maintains Callaway Golf At Strong Buy (ELY)
UBS Warburg Cuts E.W. Scripps To Buy From Strong Buy (SSP)
UBS Warburg Downgrades Texas Instruments To Hold From Buy (TXN)
UBS Warburg Hikes Dynegy Target To $63 From $61 (DYN)
UBS Warburg Initiates Impax At Strong Buy, $12 Target (IPXL)
UBS Warburg Upgrades Conoco To Buy From Hold (COC.B)
USB Lowers Advanced Fibre Target To $25, Keeps Strong Buy (AFCI)
USB Piper Downgrades InfoSpace To Neutral From Buy (INSP)
USB Piper Initiates MSC Industrial At Buy, $19 Target (MSM)
USB Piper Lowers American Express Goal By $8 To $52 (AXP)
USB Piper Ups Alexion Pharma Goal To $125, Keeps At Buy (ALXN)
Wedbush Increases UnionBanCal Target By $5 To $35 (UB)
Wedbush Reiterates Electronic Arts At Buy, $54 Target (ERTS)
Wedbush Reiterates FreeMarkets At Strong Buy, $90 Goal (FMKT)
Wit SoundView Hikes Vitesse Target To $100, Reits Buy (VTSS)
WR Hambrecht Downgrades InfoSpace To Neutral From Buy (INSP)
WR Hambrecht Downgrades iPrint To Neutral From Buy (IPRT)
WR Hambrecht Hikes InterCept Target To $34 From $32 (ICPT)
ECONOMIC DATA:
No major economic reports are due today.
EMC Corp (EMC) Posted Tuesday, January 23, 2001,
EMC reported Q4 at $0.25/share. They BEAT First Call consensus of $0.23/share by $0.02. Year-ago was $0.17/share. Earnings rose 40% and profit rose 49%. Goldman raised their 2001 EPS to $1.05 from $1.00
Alexion Pharmaceuticals (ALXN) Posted Tuesday, January 23, 2001,
Alexion announced preliminary results of a Phase IIb clinical trial which indicates that its experimental heart drug, pexelizumab, significantly reduced the combined incidence of heart attack and death by 41% within 30 days of bypass surgery.
Advanced Fibre Communications (AFCI) Posted Tuesday, January 23, 2001
Advanced Fibre won a new multiyear agreement with Sprint North Supply to deploy AFC's industry-leading remote broadband access solutions. AFCI values deal at approx. $200 mln. |
