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Strategies & Market Trends : STEAMROLLER'S DAYTRADES -- Ignore unavailable to you. Want to Upgrade?


To: STEAMROLLER who wrote (1091)9/23/1998 6:33:00 PM
From: STEAMROLLER  Respond to of 1561
 
The Motley Fool's Market Movers (Heroes)

The Motley Fool - September 23, 1998 18:22

September 23, 1998/FOOLWIRE/ -- Bank stocks were boosted today
by Federal Reserve Chairman Alan Greenspan's comments before Congress and
the Fed's conditional approval of the mega-merger between Citicorp (NYSE:
CCI) and insurance powerhouse and Salomon Smith Barney parent Travelers
Group (NYSE: TRV). Wall Street deciphered Greenspan's comment that economic
slowdown will keep inflation at bay as a sign that the Fed likely will cut
interest rates as early as Tuesday, when the Federal Open Market Committee
(FOMC) next meets. Meanwhile, the Fed approved the Citicorp-Travelers merger
on condition that the two sell or divest certain subsidiaries, representing
less than 15% of the companies' combined assets, within two years after
their merger. Citicorp jumped $10 3/8 to $105 1/2 and Travelers picked up $3
5/8 to $43. Merrill Lynch (NYSE: MER) added $4 5/16 to $58, Chase Manhattan
(NYSE: CMB) rose $4 to $50 1/8, BankAmerica (NYSE: BAC) advanced $4 7/8 to
$65 1/4, BankAmerica merger partner NationsBank (NYSE: NB) was up $4 1/4 to
$58 1/4, Morgan Stanley Dean Witter (NYSE: MWD) climbed $3 3/4 to $57 1/4,
J.P. Morgan (NYSE: JPM) leapt $5 1/16 to $93 1/8, BankBoston (NYSE: BKB)
finished up $3 5/16 to $39 3/8, First Union (NYSE: FTU) gained $2 13/16 to
$57 7/16, and Bankers Trust (NYSE: BT) picked up $6 to $68 1/16.

Dell Computer (Nasdaq: DELL) gained $4 5/16 to $64 3/8 as the PC maker and
direct seller announced a new "ConnectDirect" initiative aimed at providing
customers with easy, fast, and personalized access to the Internet. Under
the new program, which will be available this week on Dell Dimension desktop
PCs, customers will be able to connect to the Web using AT&T's (NYSE: T)
WorldNet Service and will then be greeted by a personalized Excite (Nasdaq:
XCIT) home page at www.dell.excite.com. Excite CEO George Bell said the
alliance with Dell is a "very significant distribution deal" for the
Internet portal company. Investors thought so, too, bidding Excite shares up
$9 3/8 to $37 3/4 on the announcement. Dell is also teaming up with SBC
Communications (NYSE: SBC) to provide Dell customers with Internet access
over existing phone lines at speeds up to 50 times faster than today's
traditional modems. The joint project will equip Dell Dimension PCs with
high-speed modems and services starting early next year. SBC picked up $1
9/16 to $42 1/2.

Investment bank Lehman Brothers Holdings (NYSE: LEH) reported fiscal third
quarter earnings of $1.10 per share, down 15% from $1.30 in the same
year-earlier period but in line with analysts' estimates, which had already
been reduced following the company's recent earnings warning. Revenue after
interest expense dropped 13% to $930 million from $1.07 billion a year ago.
Return on shareholders' equity came in at 13%, substantially lower than last
year's 20.5%. Still, the results were better than some investors had
expected, and Lehman shares climbed $1 3/4 to $37 7/8. Like other investment
banks, Lehman has been hurt by trading losses in Russia and other emerging
markets. But Lehman's fiscal third quarter ended last month and therefore
did not include September, which is expected to be killer for banks and
brokerages. To soften the blow a bit, Lehman announced plans to buy back an
additional 7.5 million shares, or 6.4% of its stock.



To: STEAMROLLER who wrote (1091)9/23/1998 6:36:00 PM
From: STEAMROLLER  Respond to of 1561
 
Nasdaq up on Greenspan hint of possible rate cut

Reuters Story - September 23, 1998 17:07

NEW YORK, Sept 23 (Reuters) - A hint from U.S. Federal Reserve Chairman Alan Greenspan that he might argue for a cut in short term interest rates set off an
explosion of buying on the Nasdaq, bringing it to its fourth biggest point gain ever.

The Nasdaq Composite Index rose an unofficial 62.77 points or 3.68 percent to a level of 1760.27. Advancing issues beat decliners by a margin of close to
two-to-one on the tenth most actively traded day of 933 million shares. Forty five stocks reached new highs, while 155 posted new 52-week lows.

"I think the market is jumping to the conclusion that Greenspan wants to cut rates next week but I don't think so. What I heard was a shift in sentiment toward
easing," said Bill Meehan, market strategist at Cantor Fitzgerald

"People are seeing more clearly Greenspan's message from a week or so ago that he never ruled out a domestic easing," said another veteran trader, referring to
Greenspan's statement that there was no coordinated global rate cut in the works.

Short covering pushing Internet stocks sharply higher, traders said. Yahoo! Inc. shot up 14-15/16 to 117-7/8; America Online Inc. climbed 8-11/16 to 115-1/16;
Excite Inc. rose 9-3/8 to 37-3/4.



To: STEAMROLLER who wrote (1091)9/23/1998 6:37:00 PM
From: STEAMROLLER  Respond to of 1561
 
Dell Introduces the "ConnectDirect" Initiative for Easy, Fast and Personalized Access to the
Internet

Business Wire - September 23, 1998 11:01

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ROUND ROCK, Texas--(BUSINESS WIRE)--Sept. 23, 1998--

Dell Teams with AT&T and Excite for Easy Access and Personalized Onramp; Dell and SBC Team for High-Speed Internet ADSL Connection

Dell(R) Computer Corporation, the nation's leading direct computer systems company, today announced Dell ConnectDirect(SM), a wide-ranging technology
initiative to provide Dell customers with easy, fast and personalized access to the Internet.

The initiative includes agreements with AT&T World Net Service, Excite Inc. and SBC Communications Inc. to provide services to Dell customers. ConnectDirect
services will be available this week on Dell Dimension desktop PCs.

The Dell ConnectDirect initiative offers customers an easy Internet sign-on process, the freedom to choose Internet access from leading Internet Service Providers
(ISPs), and personalized Web start pages, which offer customizable news content and direct links to Dell services, support and registration.

"We talk to our customers, and they've told us they want easy Internet access and the ability to customize content," said Paul Bell, senior vice president and general
manager of Dell's Home and Small Business Group. "The ConnectDirect initiative is Dell's response. It is a powerful example of how we continue to extend the
direct model to offer more value, more customization and more integration built into Dell products."

The ConnectDirect program will also offer Dell Dimension customers high-speed Internet access through Asymmetrical Digital Subscriber Line (ADSL) services that
provide Internet access up to 50(a) times faster than many dial-up modems, depending on the ADSL provider for customers in select cities(b).

ConnectDirect Services From AT&T and Excite

Dell joins with Internet service provider AT&T WorldNet(R) Service and Internet media company Excite to offer consumers a fast and easy way to get online.
Starting tomorrow, ConnectDirect offers a personalized start page via a basic Dell Internet browser or through Microsoft's more full-featured Internet Explorer
browser.

Upon completion of a simple installation procedure that can generally take as little as five minutes, customers are connected to the Web with AT&T's WorldNet
Service, and are greeted with a personalized Excite home page, dell.excite.com. This page is pre-customized with news and content according to the customer
market segment. Users can then further personalize their Excite page according to their individual needs. Initial Internet registration does not require the use of a
credit card.

AT&T Internet services will be available this week on Dell Dimension desktop PCs and is anticipated on other Dell products later this year. The first month of
AT&T Internet access is available at no charge(c), with subsequent monthly access at $19.95 per month.

"AT&T WorldNet is proud to be the first service provider Dell has named as part of its ConnectDirect initiative," said Dan Schulman, president of AT&T WorldNet
Service. "We offer a dependable connection to Web surfers as well as a comprehensive set of Internet tools and the additional benefit of reduced long distance
charges for our customers."

"This agreement continues our momentum through relationships with many industry leaders," said George Bell, Excite CEO. "Dell is one of the fastest-growing PC
manufacturers and a company whose strategy parallels our own in the desire to give the consumer an individual experience. With this alliance, we can deliver on that
promise while bringing our brand and award-winning personalized front page closer to the customer."

Today's Announcement From Dell and SBC

SBC Communications Inc. and Dell today announced a joint initiative to bring Internet and data access at a rate up to 50 times faster than today's traditional
modems, all over existing phone lines. The initiative will equip Dell Dimension desktop PCs with high-speed (ADSL) modems and services. The two companies plan
to begin implementation of the arrangement by early next year to select cities in Texas and California.

The initiative calls for SBC and Dell to jointly market ADSL. In addition, SBC will deliver ADSL services to certain home and business customers served by SBC's
Pacific Bell and Southwestern Bell local telephone companies.

"Our objective is to make high-speed data services, specifically ADSL, more accessible to our business and residential customers," said Dave Gallemore, vice
president of strategic marketing, SBC Operations. "This alliance with Dell is an example of our interest in building relationships with technology providers to help us
further enhance the value we provide our data communications customers."

Dell's announcement with SBC follows a similar Dell agreement in May with US West and Cisco to provide ADSL-ready Dimension PCs later this year to
customers in select cities in the US West territories.

About Dell

Ranked No. 125 among the Fortune 500 companies and No. 363 in the Fortune Global 500, Dell Computer Corporation is the world's leading direct computer
systems company, based on revenues of $15.2 billion for the past four quarters. Dell designs, manufactures and customizes products and services to customer
requirements and offers an extensive selection of software and peripherals. Information on Dell and its products can be obtained through its toll-free number
1-800-388-8542 or by accessing the Dell World Wide Web site at www.dell.com.

About AT&T

AT&T WorldNet Service is the largest direct Internet service provider in the United States, serving more than 1.2 million subscribers. It has some 405 points of
presence in the United States and offers each subscriber a free, 5-megabyte personal Web page, email, chat, and free child protection software. AT&T WorldNet
Service enables subscribers to consolidate their Internet access, AT&T Long-Distance and AT&T Wireless charges, where available, on a single bill.

About Excite Inc.

Founded in 1994, Excite Inc. is a global media company offering consumers a personalized Web start page on www.excite.com and a 'back to basics' Web search
service on www.webcrawler.com, and advertisers the best one-to-one marketing services available online. The Excite Network consists of two of the largest brands
on the Web, Excite (www.excite.com) and WebCrawler ((www.webcrawler.com), and its subsidiaries: Classifieds2000, MatchLogic Inc., Excite Japan Co. Ltd.
and Excite UK Ltd.

Localized versions of Excite are available in France, Germany, the UK, The Netherlands, Sweden, Japan and Australia. Based in Redwood City, Calif., Excite Inc.
(NASDAQ:XCIT) has strategic relationships with America Online Inc., Apple Computer Inc., CUC Investments Inc., Intuit Inc., Netscape Communications Corp.,
Prodigy Internet and Tribune Company.

About SBC

SBC Communications Inc. is a global leader in the telecommunications industry, with nearly 34 million access lines and 5.6 million wireless customers across the
United States, as well as investments in telecommunications businesses in 10 countries. Under the SouthWestern Bell, Pacific Bell, Nevada Bell and Cellular One
brands, SBC, through its subsidiaries, offers a wide range of innovative services, including local and long-distance telephone service, wireless communications,
paging, Internet access, and messaging, as well as telecommunications equipment, and directory advertising and publishing. SBC (www.sbc.com) has more than
118,000 employees and reported 1997 revenues of $25 billion. SBC's equity market value of $80 billion (as of March 31, 1998) ranks it as one of the largest
telecommunications companies in the world.

NOTE TO EDITORS: Additional information on Dell and Dell products can be found in separate news releases available at Dell's World Wide Web site.

Dell and Dimension are registered trademarks and ConnectDirect is a registered service mark of Dell Computer Corporation. Dell disclaims any proprietary interest
in the marks and names of others.

(a) Claims of 50 percent faster based on speed of SBC ADSL services compared to 28.8Kbps modems. For more information, contact SBC.

(b) Customers interested in finding out if their cities are provided ADSL services should contact US West and/or SBC for more information.



To: STEAMROLLER who wrote (1091)9/23/1998 6:39:00 PM
From: STEAMROLLER  Respond to of 1561
 
IPO PRICING - eBay Inc priced at $18

Reuters Story - September 23, 1998 18:23

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NEW YORK, Sept 23 (Reuters) -
Company Name eBay Inc.
Priced At $18
Estimated Pricing Range $16 to $18
Number of Shares 3.5 million
Lead Underwriter Goldman Sachs
NOTE: Goldman Sachs & Co. said Wednesday that it increased the
price range of eBay, an online auctioneer, from $14-$16 to
$16-$18.



To: STEAMROLLER who wrote (1091)9/23/1998 6:40:00 PM
From: STEAMROLLER  Respond to of 1561
 
Goldman boosts eBay IPO price range

Reuters Story - September 23, 1998 12:05

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NEW YORK, Sept 23 (Reuters) - Investment banking firm Goldman Sach & Co., said Wednesday that it boosted the price range of its underwritten initial public
offering of eBay Inc.

eBay, an online auctioneer, will offer 3.5 million shares for between $16 and $18 each, up from $14-$16 each, raising the value of the deal to about $59.5 million
based on the midpoint price. The number of shares remained unchanged.

eBay will be the first IPO the come to the market in a month, after scores of postponements and delays caused by broader market concerns.

Analysts have said that eBay, which matches buyers and sellers of all kinds of products over the Internet, may be one of the catalysts to help push the IPO market
back on track.

Niche Internet firms seem to excite investors hoping for the next new wave of super summer stocks like GeoCities and Broadcast.com , two Internet-related firms
that saw big hikes in their share price on the first day of trading.



To: STEAMROLLER who wrote (1091)9/23/1998 7:04:00 PM
From: Wayners  Read Replies (2) | Respond to of 1561
 
You have got to be kidding me. 19 times? Alright I have to ask what your batting average was. I'm holding CIEN overnight. In at $15 3/16, currently down 5/16. Lame volume in the afternoon. All kinds of acquisiton rumors flying including CSCO to come out with a buyout offer this week. Others saying GSCO was accumulating heavily in the last 15 minutes of trading and that something major is in the works. With a day like today, I expect a gap down tomorrow in the market.