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To: Steeny who wrote (18319)	5/25/1999 8:42:00 AM
From: David Petty	Respond to of 41369

CBS MarketWatch: NEW YORK (CBS.MW) -- Internet stocks are rebounding in light volume in early London trading on Tuesday, and Intel is rising on reports of growing chip demand. But First Union (FTU: news, msgs) dropped 5 7/8 to 44 in pre-market U.S. trading, Jefferies & Co. said. The bank warned ahead of the open on Tuesday of lower-than-expected second quarter and year-end earnings. See full story. "All of the .com world is doing better this morning," said Art Hogan, chief market analyst at Jefferies. Lycos (LCOS: news, msgs) soared 6 1/4 to 104. The Web portal's stock is to become a component of the NASDAQ 100 index. See full story. Among other Internet stocks America Online (AOL: news, msgs) was up 2 1/2 to 122, Amazon (AMZN: news, msgs) was 1 1/2 higher to 119, and Yahoo! was up 3 5/8 to 141 1/2, according to Hogan. E-Trade (EGRP: news, msgs) was up 1 to 51 in pre-market Instinet trade. Key U.S. bank stock Citigroup (C: news, msgs) continued to see slight losses. The stock was down 1/4 to 64 7/8, continuing Monday's bank stock sell-off on an analyst's downgrades. See full story. Nokia (NOK: news, msgs) gained 1 1/4 to 71 in Instinet after the world's largest mobile phone company said Tuesday it expected a boom in wireless palm-top computers in an interview with Reuters. There is New York Society of Securities Analysts conference on the telecom industry Tuesday, according to Cantor Fitzgerald's Morning News report. Chip makers may get a boost Intel (INTC: news, msgs) was up 71/6 to 56 3/8 in London after an industry group released a report late Monday that global chip demand is expected to grow 12.6 percent in 1999 compared to an 8.4 percent drop in 1998, Reuters reported. Among other tech shares, PC maker IBM (IBM: news, msgs) was down 5/8 to 223 1/8. Tomi Kilgore is an online reporter for CBS MarketWatch.