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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Night Writer who wrote (95280)	2/15/2002 3:40:59 PM
From: Night Writer	Respond to of 97611

$10.80 support area. I think a bunch of stop losses got cleaned out.

To: Night Writer who wrote (95280)	2/15/2002 3:49:43 PM
From: Elwood P. Dowd	Respond to of 97611

Stocks Fall in Accounting Concerns Stocks Fall in Afternoon Trading on Profit-Taking, Accounting Worries By LISA SINGHANIA AP Business Writer NEW YORK (AP) -- Wall Street retreated Friday as investors, beset by a new round of accounting concerns, decided it was time to sell and lock in profits from the week's big rally. A disappointing consumer sentiment survey provided even more incentive for a pullback. Analysts said the decline, while not surprising after the market's big move up, reflected investors' unwillingness to commit more until earnings are more certain. By late afternoon, the Dow Jones industrial average was down 75.08, or 0.8 percent, at 9,926.91, falling back from the 10,000 level it passed by just over a point on Thursday. The Dow had gained 376 points in the previous five sessions. Broader stock indicators also fell. The Nasdaq composite index lost 31.02, or 1.7 percent, to 1,812.35, while the Standard & Poor's 500 index was down 8.86, or 0.8 percent, at 1,107.62. ``The market is continuing to vacillate between focusing on the economy and accounting nightmares. Today it's focusing on the accounting,'' said Barry Hyman, chief investment strategist at Ehrenkrantz King Nussbaum. ``IBM is a lot of what's hurting the Dow. But the fact that IBM and Nvidia are both technology companies is really being felt on the Nasdaq.'' IBM slid $4.66 to $103.23 on reports the company used a $300 million sale to lower its fourth-quarter operating costs. IBM denied any wrongdoing. Nvidia tumbled $4.61 to $57.55 after revealing the Securities and Exchange Commission is looking into some of its 2000 and 2001 results. The selling spread to retail and financial stocks. Home Depot was off $1.20 at $50.35, while J.P. Morgan tumbled 27 cents to $29.94. Dell Computer fell 59 cents to $25.81 after the company said first-quarter sales would be slow, but should pick up as businesses and other large customers begin spending later this year on replacement technology. A batch of mixed economic news failed to ease Wall Street's anxiety. Although the government reported a smaller-than-expected increase in inflation and better-than-expected industrial production numbers, a closely followed gauge of consumer sentiment declined. The University of Michigan's mid-month report on consumer sentiment for February was said to have decreased to 90.9 from 93.0 in January, Dow Jones News reported Friday. Analysts had expected the index to be unchanged. The market's decline came after what has been a generally strong week for stocks. The market had been moving higher, rebounding from a monthlong selloff on doubts about the accuracy of corporate bookkeeping and concerns that business is still sluggish. Those concerns still remain, however, leading some to doubt the market can go too high until they are resolved. The rally had also come on low trading volume, suggesting the support for the advance was not very strong to begin with. And with U.S. markets closed Monday for Presidents Day holiday, some investors had another reason to sell. ``You don't want to have any big bets out there over a long weekend because the way the news is flowing these days, you never know what could happen,'' said Rafael Tamargo, director of equity research at Wilmington Trust. Declining issues led advancers 5 to 4 on the New York Stock Exchange. Volume came to 1.06 billion issues, compared with 972.25 million issues at the same point Thursday. The Russell 2000 index advanced 0.03 to 470.78. Overseas, Japan's Nikkei stock average dropped 0.3 percent. In Europe, Germany's DAX index lost 2.2 percent, Britain's FT-SE 100 fell 0.5 percent, and France's CAC-40 slipped 1.2 percent.

To: Night Writer who wrote (95280)	2/15/2002 3:51:33 PM
From: Elwood P. Dowd	Read Replies (2) \| Respond to of 97611

Hmmmm. I just tried the link and it still works for me. Wasn't a big deal, just details and more soap on the merger. El