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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (35903)	4/17/2001 10:13:37 AM
From: Dalin	Read Replies (1) \| Respond to of 65232

Top o da mornin porchies!! So we didn't get the big crash from CSCO's warning........ Like RR says....no surprise .......... And dollar cost averaging on good techs...Yeah! :0) Ramblin

To: Dealer who wrote (35903)	4/17/2001 11:57:16 AM
From: stockman_scott	Respond to of 65232

Stocks Bounce Back Despite Cisco _____________________________________________ Tuesday April 17, 11:42 am Eastern Time By ADAM GELLER AP Business Writer <<NEW YORK (AP) -- Stock prices rebounded modestly Tuesday despite an earnings warning by Cisco Systems that sapped many technology issues at the opening bell. In midmorning trading on Wall Street, the Dow Jones industrial average was up 10.54 at 10,169.10. Rising tech stocks boosted the broader indexes. The Standard & Poor's 500 index was up 8.56 to 1,188.24, and the Nasdaq composite index rose 18.44 to 1,928.01. Analysts said the muted dropoff in early trading and the quick rebound show investors have made their peace with earnings warnings and built those expectations into stock prices. ``It shows that the market is growing more insensitive to bad news and that says the market has discounted the worst news and is now looking to better times down the road,'' said Scott Marcouiller, vice president of market analysis at A.G. Edwards & Sons in St. Louis. The relative steadiness of the market Tuesday could signal that stocks have more or less reached bottom, analysts said. ``To convert that into a rally takes a lot of buying pressure, a lot of volume on the upside. We haven't quite gotten to that point yet, but you've got to crawl before you can run,'' said Charles H. Blood Jr., director of financial markets strategy at Brown Brothers Harriman & Co. in New York. Cisco, which fell sharply after trading began, made up some of that loss and was down 38 cents at $16.82. The company said late Monday it expects earnings per share to be in the ``very low, single-digit range.'' Analysts surveyed by Thomson Financial/First Call were expecting 8 cents per share. Eastman Kodak, which announced plans Tuesday to cut up to 3,500 jobs in the wake of slowing films sales, was down $1.90 to $41.60. The company also announced earnings that beat Wall Street expectations. Philips Electronics also fell sharply after the company announced a 91 percent drop in its first quarter earnings early Tuesday. Philips was down $2.55 to $25.70 in trading on the NYSE, a drop of 9.03 percent. Advancing issues slightly outnumbered declining issues by a 9-to-7 margin on the New York Stock Exchange, where volume came to 344.76 million shares, well ahead of Monday's slow pace. The Russell 2000 index rose 2 to 452.90.>>