|
| Weekend: What's going on? |
| Sananimal Inc.- Due to public pressure this Canadian company has agreed to stop mixing meat from dead dogs and cats into its processed pet food. They used to process about 40,000 pounds of dead cats and dogs a week before selling the final product back to the public for their pets to consume. |
| For The Month: DOW(410) NASDAQ^50 S&P(32) |
| For The Week: DOW(103) NASDAQ^125 S&P(1) |
| June 29,2001 Friday |
| DOW:10502(64) NASDAQ:2160^35^1.6% S&P:1224(2) |
| The Quarter Ends. Commerce Dept-The U.S. GDP for the first quarter is a revised 1.2% with a second quarter projection of .5%. NASDAQ has a temporary shutdown due to a computer malfunction. EU Officials reject the merger between General Electric($49) and Honeywell($35). DOW Chemical($34)-The second largest US chemical company warns of a decrease in future Profits and Earnings. 360 Networks-A Canadian provider of optical networks files for bankruptcy. Alcatel($20) writes off 700 million dollars in funding to 360 Networks. Monster.Com buys rival HotJobs.Com in an all stock deal. |
| June 28,2001 Thursday |
| DOW:10566^131^1.2% NASDAQ:2125^50^2.4% S&P:1226^15^1.2% |
| US Appeals Court-
sends the Ruling on Microsoft($73)
to a new lower court Judge to decide a fair verdict. FOMC-The minutes of the meeting show dissent on whether to lower interest rates. Some in the meeting feel strongly that the FED has been to aggressive in stimulating the economy and that inflation is "increasingly worrisome." Oracle($19) states that this quarter is looking good but many analysts think that it is a premature forecast. Pfizer-Starts a 5 billion dollar or 120 million share stock buy back program over the next 18 months. UBS Warburg--Cuts estimates on Compaq($14) from $35 to $23. |
| June 27,2001 Wednesday |
| DOW:10435(37) NASDAQ:2075^10 S&P:1211(6) |
|
Federal Reserve-Lowers
Interest Rates by 1/4 points to 3.75. Also
warns that the US economy is at a risk of a slowdown. The next meeting
is Aug 21, 2001. |
| June 26,2001 Tuesday |
| DOW:10472(33) NASDAQ:2065^14 S&P:1217(1) |
|
Yahoo($19)- adds
video to its instant messager service. |
| June 25,2001 Monday |
| DOW:10505(101)(1%) NASDAQ:2051^16 S&P:1218(7) |
| Merril Lynch--Changes
it price target on NTAP($11.5) from $85 dollars
a share to $12.62 dollars a share. AOL($53)-increases its subscriber base to 30 million users. MSFT($69)-MSN has 5 million users. Applied Micro Circuits($14) warns of a weaker top and bottom line for the second time this year claiming that business conditions are very poor and excess inventory is high. |
| Weekend: What's going on? |
| SONY PICTURES--Is under investigation for deceptive and misleading advertising by Connecticut's Attorney General. Sony has acknowledged that it quotes a critic that does not exist to plug its studio films. |
| For The Week: DOW(19) NASDAQ^7 S&P^17 |
| June 22,2001 Friday |
| DOW:10605(110)(1%) NASDAQ:2035(23)(1%) S&P:1225(12)(1%) |
| CSFB--Sets a price
target of $30 on EMC($27). Treasury Secretary-- No recession in sight and this slow down in the economy was expected. Moodys Investor Services--Downgrades HWP's($26.5) debt rating. Merril Lynch--Lowers Compaq's($14) Revenues and Earnings. |
| June 21,2001 Thursday |
| DOW:10715^68 NASDAQ:2058^27 S&P:1237^14 |
| Merck--warns of lower sales and earnings. |
| June 20,2001 Wednesday |
| DOW:10647 NASDAQ:2031^38(2%) S&P1223^10 |
|
Merril Lynch-Sets
a price target of $43 on EMC |
| June 19,2001 Tuesday |
| DOW:10646^2 NASDAQ:1993^4 S&P:1213^5 |
| June 18,2001 Monday |
| DOW:10645^22 NASDAQ1989(40)(2%) S&P:1208(6) |
| Oracle--Revenue and Income falls and forecasts no growth. |
| Merril Lynch-It
will take at least a year for the telecom industry to return to normal inventory
levels. Nortel($11)-takes a 19.2 billion dollar net loss for the second quarter and writes off $650 million dollars worth of inventory. |
| Weekend: What's going on? |
| Proctor&Gamble: Pays 49 million dollars to shareholders and lawyers for the right to "deny any wrong doing" in connection with its march 2000 earnings warning that shaved 35 billion dollars off its market cap. |
| For The Week: DOW(353) NASDAQ(187) S&P(51) |
| June 15,2001 Friday |
| DOW:10624(66) NASDAQ:2028(16) S&P:1214(6) |
| JDS Uniphase($14)-Due
to excess inventory about 250 million dollars of material is written off. Xerox($8.3)-Closes its consumer inkjet and copier business. Oracle($15)-cuts prices up to 70% on its latest database product 9i. |
| June 14,2001 Thursday |
| DOW:10690(181)(1.7%) NASDAQ:2044(76)(3.7%) S&P:1220(22)(1.8%) |
| Heating Oil spiked
8% in May. Jobless Claims rose to 424,000 which is the highest level since August 1992. Commerce Dept-Inventories at U.S. Businesses are steady. Labor Dept-Inflation is tame. Merril Lynch-Reduces earnings estimates on GLW($17) saying that sales are horrible. Prudential-Texas Instruments($34) has weak sales. Prudential-Sets a price target of $90 on Microsoft($70) |
| June 13,2001 Wednesday |
| DOW:10872(77) NASDAQ:2122(48)(2.2%) S&P:1241(14)(1%) |
| Server Sales Decline. S&P-Cuts Lucent to Junk Status. First Call--There is no slow down in earnings warnings and a rebound is two quarters away. Cisco-future is cloudy. Phillip Morris-Spins off Kraft($30) but retains 97% of the voting rights. SG Cowen-Sets a $12 dollar price target on Lucent($7.5). JDS Uniphase($15) warns of lower revenues and earnings due to a large drop off in business for the fourth time this year. |
| June 12,2001 Tuesday |
| DOW:10846(76) NASDAQ:2140(31)(1.5%) S&P:1245(9) |
| Nokia($29) warns
of a lower top and bottom line due to economic weakness. Advanced Micro Devices-- aims at a 30% market share by the years end. Federal Reserve-Immigrants will account for three quarters of the expected growth in the working population which will lower worker productivity during the next 100 years due to language and educational factors. Goldman Sacs-Software firms will see flat to lower revenues. Morgan Stanly-Sets a price target of $33 dollars on Dell($26). Morgan Stanly-lowers earnings estimates on EMC($31). |
| June 11,2001 Monday |
| DOW:10922(55) NASDAQ:2171(44)(2%) S&P:1254(10) |
| INTC-has developed
a chip that will run one billion transistors at 20 gigahertz. A Pentium 4 processor has 42 million transistors and can run at 1.7 gigahertz. Merril Lynch-Japan is now in a recession. CSFB-Sets a price target of $45 dollars for Juniper Networks($36) |
| Week End: What's going on? |
| The Pentagon Agency Charged With Exposing Fraud--Spent 983 hours either forging, destroying or replacing government documents with fakes at a cost of $63,000 dollars to the tax payers. As a result, Pentagon Audits must now include a disclaimer saying that "the work done fails to meet established audit standards." |
| For The Week: DOW:(13) NASDAQ:^66 S&P:^4 |
| June 08,2001 Friday |
| DOW:10977(114)(1%) NASDAQ:2215(49)(2%) S&P:1265(12)(1%) |
| NYSE shuts down
temporarily due to technical problems. Thunder Networks($39) warns of a sluggish demand for networking products. EMC-Dot Coms once 8% of their customer base are now nearly 0%. Lucent-The telecom market will be dismal for the next 12 to 18 months. Lottery-Annually in the U.S. it takes in 36 billion dollars with 12 billion of that going towards intended programs. |
| June 07,2001 Thursday |
| DOW:11090^20 NASDAQ:2264^46(2%) S&P^7 |
|
Labor Dept-Unemployment
is rising and the Jobless Claims are at the
highest in eight years. |
| June 06,2001 Wednesday |
| DOW:11070(105) NASDAQ:2218(16) S&P:1270(13)(1%) |
| Federal Reserve-The
economy will be sluggish into the fall. HWP($29)-warns of a global technology slowdown that will decrease sales. JPM($47)-warns of lower trading revenue. Soloman Smith Barney-There is a significant downside risk to Gillette($28). |
| June 05,2001 Tuesday |
| DOW:11175^114 NASDAQ^2234^78 S&P:1284^17 |
| Biotechs rise to a six month high. Lucent-States modest sequential growth in the current quarter. Wit Sound View-Yahoo revenues are at a downward risk. |
| June 04,2001 Monday |
| DOW:11061^71 NASDAQ:2156^6 S&P:1267^6 |
| Federal Reserve-Inflation
is not a threat. Cisco--Sales look gloomy. |
| Week End: What's going on? |
| Dot Com Companies--29 went out of business in May which brings in the total number for the year at 104. Last year the total number of failed Dot Coms were 90. |
| For The Week: DOW:(15) NASDAQ:(102) S&P(17) |
| June 01,2001 Friday |
| DOW:10990^78 NASDAQ:2149^39^1.9% S&P:1261^5 |
| US Industrial/Manufacturing Sector
is in a Recession. PSI Net--Files for bankruptcy and its largest unsecured creditors are Nortel($99 Million) and Cisco(81 Million) dollars. Merril Lynch--Remains cautious on Tech Stocks. Goldman Sachs--Downgrades the Newspaper Sector. Salomon Smith Barney--Oracle($15.5) will earn 13 cents per share this quarter. |