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To: Bear Down who wrote (9798)	5/6/2002 8:09:44 PM
From: StockDung	Respond to of 19428

IBM drops to near four-year low as investors flee By Caroline Humer NEW YORK, May 6 (Reuters) - International Business Machines Corp.<IBM.N> shares dropped sharply on Monday to their lowest level in almost four years, as already jittery investors unloaded IBM after the stock dipped below the psychologically key level of $80. Shares of the world's largest computer maker, a traditional safe-haven blue-chip stock nicknamed "Big Blue," have been under pressure in recent months. Weak spending on technology by corporate customers has stunted the Armonk, N.Y.-based technology giant's earnings and revenue. Other issues, such as accounting methods, have also hurt investor confidence. IBM shares fell $5.78, or more than 7 percent, to close at $76 on the New York Stock Exchange, a low unseen since late 1998. IBM's drop knocked about 40 points off the Dow Jones Industrial Average -- accounting for about one-quarter of the Dow's 198-point fall on the day to 9,808. IBM's stock danced around above the $80 level for much of Monday's trading. But the slide accelerated after shares broke through the $80 level of so-called technical support, one Wall Street trader said. "It previously had been a "safe name" that people were hiding in, and breaking that support level at 80 -- the real selling began after that," he said. Last month, IBM issued its first earnings warning in a decade after first-quarter results came in far short of expectations. The company also has been at the center of accounting concerns -- the Securities and Exchange Commission (SEC) said last month that it opened and closed an investigation into the company. It also has a new CEO, Sam Palmisano, for the first time in almost a decade. He took the reins from long-time head Louis Gerstner, who was credited with turning the company around from losses in the early 1990s. Chris Galizio, head of technology research at Pioneer Investments in Boston, said he was particularly concerned about IBM's ability to boost earnings because in the past, growth came from Gerstner's history of earnings management. "Over the last five years, IBM has manufactured earnings," Galizio said. "They've changed pension accounting to make it look more favorable, so that their earnings looked better. They've changed their tax rate and they've been buying back shares, which reduces their share count and increases EPS." His fund holds IBM shares. IBM has defended its accounting. During a shareholder meeting last week, Gerstner was asked about the issues by a shareholder and replied: "There are no accounting problems at IBM." Long-time IBM-er Palmisano has the formidable task of growing the company's revenues at a time when corporations are cutting spending on new technology, said Marty Shagrin, an analyst for Victory Capital, which owns IBM shares. Before IBM shares do much better, Shagrin said, the company must show its services business -- which has been growing while hardware sales have been shrinking -- is going to post more than incremental growth. "When things were going well, this was really a services-led story and that business starting in the December quarter and carrying through this quarter, fell off its growth track," Shagrin said. 05/06/02 18:06 ET

To: Bear Down who wrote (9798)	5/7/2002 8:20:10 PM
From: StockDung	Respond to of 19428

CRAP PUMPING BROKER DEALER SUSPENDS COVERAGE->Hornblower and Weeks Suspends Coverage on Eagle Building Technologies NEW YORK, March 8 /PRNewswire/ -- Hornblower announced today that it is suspending coverage on the stock until further notice due to the current conditions at the company Hornblower and Weeks, Inc, is a member of the National Association of Securities Dealers, CRD number 4683. MAKE YOUR OPINION COUNT - Click Here tbutton.prnewswire.com SOURCE Hornblower and Weeks CO: Hornblower and Weeks; Eagle Building Technologies ST: New York IN: MNG MAC SU: RTG 03/08/2002 08:59 EST prnewswire.com

To: Bear Down who wrote (9798)	5/7/2002 8:30:08 PM
From: StockDung	Read Replies (1) \| Respond to of 19428

Hornblower and Weeks, Inc. Initiates Coverage of MyTurn.com With a Strong-Buy Rating Hornblower and Weeks, Inc. Initiates Coverage of MyTurn.com With a Strong-Buy Rating NEW YORK, Aug 30, 2000 /PRNewswire via COMTEX/ -- The following is being issued by Hornblower and Weeks, Inc., a member of the National Association of Securities Dealers, CRD number 4683: Hornblower and Weeks Inc., a New York, New York based Investment Banking firm, has initiated coverage of MyTurn.com (Nasdaq: MYTN) with a Strong-Buy recommendation and a 12-month price target of $55. Please contact a representative at Hornblower and Weeks, Inc. for further details by calling 212-361-2266. SOURCE Hornblower and Weeks, Inc. CONTACT: Hornblower and Weeks, Inc., 212-361-2266 (MYTN) prnewswire.com (C) 2000 PR Newswire. All rights reserved. -0- KEYWORD: New York INDUSTRY KEYWORD: FIN MLM CPR SUBJECT CODE: RTG

To: Bear Down who wrote (9798)	5/9/2002 3:05:07 PM
From: StockDung	Read Replies (1) \| Respond to of 19428

SEC WINS JURY VERDICT AGAINST PENNY STOCK TRADER JERRY ROSEN AND ACCOMPLICES FOR ROLE IN SYSTEMS OF EXCELLENCE MANIPULATION; FINAL JUDGMENTS ORDER DISGORGEMENT, PREJUDGMENT INTEREST, CIVIL PENALTIES AND A PERSONAL TRADING BAN AGAINST ROSEN The Commission announced that on April 24, 2002, the Honorable Donald M. Middlebrooks, United States District Judge for the Southern District of Florida, entered final judgments against penny stock trader Jerome E. Rosen, disbarred attorney William A. Calvo III, and Calvo's company, Diversified Corporate Consulting Group. Rosen, the trader exclusively responsible for his firm's market making activity in Systems of Excellence, Inc. (SOE), accepted a bribe, in the form of free SOE stock, in exchange for his efforts to manipulate the price of SOE. Diversified, a company controlled by Calvo, among others, supported Rosen's fraudulent and manipulative trading activity and sold unregistered shares of SOE while one of its principals was touting SOE in a popular penny stock newsletter. The final judgments, which follow a March 7, 2002 jury verdict in favor of the SEC, permanently enjoin (i) Rosen and Diversified from future violations of the antifraud provisions of the federal securities laws and (ii) Calvo, Rosen and Diversified from future violations of the registration provisions. In total, Rosen, Calvo and Diversified were ordered to pay more than $3.8 million in ill- gotten gains, prejudgment interest and civil penalties, all arising from their respective roles in the manipulation of SOE stock. Additionally, the Court enjoined Rosen from buying and selling individual stocks. With these final judgments, the Commission has now successfully concluded seven separate enforcement actions arising from its investigation of SOE, assisted in obtaining four criminal convictions, deregistered the securities of SOE, and recovered approximately $15 million for defrauded investors. Two related lawsuits against other defendants are still pending. [SEC v. Jerome E. Rosen, Diversified Corporate Consulting Group, Joseph D. Radcliffe, and William A. Calvo III, Civil Action No. 01-0369-CIV-Middlebrooks (S.D. Fla.)] (LR-17510)