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Subject: SmartPortfolio.Com Update: Techs Surge, Dow Slips in Active Trading



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Update March 22, 2000

Wednesday's Market Update: Techs Surge, Dow Slips in Active
Trading

 1. Wednesday's Market Action
 2. Internet and Tech Stocks
 3. Notable Earnings Announcements
 4. Notable Upgrades and Downgrades
 5. Stock Splits
 6. IPO Commentary
 7. IPOs Trading Wednesday
 8. IPO Calendar

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The top 10 point leaders as of 5:00 PM EST today are:

1. Arshad Siddiquee
2. Lee Gayda
3. Joseph Yatco
4. Ziad Elkhalil
5. Davina Irwin
6. Marc Goemaere
7. John Briggs
8. Bob Forsman
9. Carol Lilley
10. Tukay Aper

1.  Wednesday's Market Action

                             $ Change   % Change      Close
Dow Jones Industrials          -40.64     -0.37%   10866.70
S&P 500                         +6.77     +0.45%    1500.64
Nasdaq                        +153.07     +3.25%    4864.75
Internet Stock Index           +41.98     +4.10%    1064.77

Tech stocks propelled the Nasdaq higher today as tech investors
put yesterday's interest rate hike from the Fed behind them.

Yesterday, the Fed raised two critical short-term interest rates
by 25 basis points (which equals 0.25%) each.  Today, Federal
Reserve Chairman Alan Greenspan made positive remarks concerning
the remarkable growth of the U.S. economy.  Greenspan attributed
much of the growth to the substantial increase in labor
productivity.  This is positive news to investors because to the
extent workers are more productive (due to technological
improvements), businesses produce more goods and services
without a commensurate increase in wages.  This, in turn,
suggests that wage inflation is being kept in check,
notwithstanding the nation's strong economic growth, which means
there is less of a reason to raise interest rates.

Large cap tech stocks were the driving force behind today's
rally.  Leading the way was Cisco Systems (Nasdaq:CSCO), up 3
33/64 (2.50%) to 144 3/8, Oracle (Nasdaq:ORCL), up 3 3/8
(+4.18%) to 84 1/16, and America Online (NYSE:AOL), up 4 1/8
(+6.12%) to 71 1/2.  Other large non-tech movers today included
Walt Disney (NYSE:DIS), up 1 1/8 (+2.87%) to 40 5/16, General
Motors (NYSE:GM), up 1 9/16 (+1.95%) to 81 3/4, and Citigroup
(NYSE:C), up 13/16 (+1.40%) to 58 7/8.  On the downside, 3M
(NYSE:MMM) fell 4 7/16 (-4.91%) to 86, SBC Communications
(NYSE:SBC) dropped 2 (-4.42%) to 43 1/4, and Honeywell
(NYSE:HON) declined 3 3/4 (-7.50%) to 46 1/4.

General Electric (NYSE:GE) shares continued to impress today,
edging up 3/8 (+0.25%) to 150 7/8 on continuing announcement
from the conglomerate's announcement yesterday that its first
quarter earnings would come in "modestly" higher than expected.

The online and offline worlds came together today in another
cross-marketing alliance, this one between Pepsi-Cola (NYSE:PEP)
and Yahoo! (Nasdaq:YHOO).  The companies announced a joint
online and offline promotional campaign called "Pepsi Stuff.com"
that will last 5 months beginning in August.  The program will
enable consumers to earn online awards and discounts from
promotions appearing under the caps of bottled Pepsi products.
A Yahoo! logo will also appear in close to 50,000 retail stores
nationwide where Pepsi products are sold.  Yahoo shares rose 5
7/16 (+2.84%) to 197 3/16 and Pepsi shares declined 13/16 (-
2.37%) to 33 1/2.

2. Internet and Tech Stocks

For a FREE trial to SmartPortfolio.Com's in-depth analysis of
selected Internet stocks, please visit:
http://www.smartportfolio.com/freetrial
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click here</A>

Microsoft Corp. (Nasdaq:MSFT) led tech news today after
announcing an alliance aimed at establishing its position in the
burgeoning market for wireless handheld devices.  The software
giant will team with Texas Instruments (NYSE:TXN), the world's
largest developer of semiconductor chips for mobile devices, to
develop improved software for these devices, such as personal
digital assistants (PDAs).  Microsoft will use TI's digital
signal processors (DSPs) to enable its Windows CE operating
system that is used in wireless handheld devices.  Microsoft
shares edged up 1/2 (+0.49%) to 103 1/4.

First Union (NYSE:FTU) shares rose 13/16 (+2.26%) to 36 11/16
after the bank announced plans to build and launch an e-
marketplace for small and mid-sized companies in the third
quarter of 2000.  Among other things, the online service will
aggregate the buying power of participants to lower their
purchasing costs on a host of supplies, products, equipment and
services.  First Union has tapped privately held Intelisys
Electronic Commerce to help set up the service.

PSINet (Nasdaq:PSIX) was also in the news after announcing it
would acquire Metamor Worldwide (Nasdaq:MMWW), a business
software and services company, in a stock deal valued at $1.9
billion.  The move will help PSINet, an Internet access and
services provider, diversify into the e-commerce arena -- as a
result of the deal, PSINet will also gain control over Metamor's
e-commerce software affiliate, Xpedior (Nasdaq:XPDR).  Metamor
shares soared 108.30% (up 17 21/64) to 33 21/64 on the news.
Xpedior shares also impressed, gaining 53.71% (up 7 11/16) to
22, while PSINet shares slipped 16.04% (down 7 15/16) to 41
9/16.

The chip sector performed well today, once again on the heels of
a gain from industry leader Intel Corp. (Nasdaq:INTC), which
closed up 5 5/8 (+4.06%) to another all-time high of 144 1/16.
Meanwhile, Micron Technology (NYSE:MU) shares rallied today,
despite its announcement of lower than expected earnings
yesterday, after numerous brokerage firms came to the company's
defense today and offered positive comments.  Micron shares
surged 20 (+16.77%) to 139 1/4.  Rambus (Nasdaq:RMBS) shares,
which have fallen back in recent sessions, bounced back 31.43%
(up 83 51/64) to 350 3/8 today after a Morgan Stanley Dean
Witter analyst offered positive comments on the company and set
a price target of $500 per share.

Bio-tech stocks were again on the move today, this time to the
upside.  These stocks have been very volatile in recent weeks,
so today's big gains must be viewed in the context of overall
recent declines.  Nonetheless, Protein Design Labs (Nasdaq:PDLI)
gained 9 3/8 (+9.73%) to 105 11/16, Human Genome Sciences
(Nasdaq:HGSI) rose 14.55% (up 13 25/64) to 105 7/16, Affymetrix
(Nasdaq:AFFX) moved up 11 13/16 (+7.47%) to 169 7/8, and
Medimmune (Nasdaq:MEDI) added 15 13/16 (+9.92%) to 175 3/16.

Other big movers in the Internet and technology sectors include:

<> Vignette (Nasdaq:VIGN), jumping 16.32% (up 32 19/64) to 230
15/64 on news the e-business applications provider will join
forces with Breakaway Solutions (Nasdaq:BWAY) to help companies
build successful e-businesses.

<> Microstrategy (Nasdaq:MSTR), bouncing back 22.71% (up 16
27/64) to 88 47/64 after plummeting the first two days of this
week after it announced it would re-state earnings for the last
2 years.

<> Wireless Facilities (Nasdaq:WFII), gaining 20.93% (up 19
29/32) to 115; Sciclone (Nasdaq:SCLN), jumping 52.61% (up 5
63/64) to 17 23/64; and Selectica (Nasdaq:SLTC), surging 58.09%
(up 43 23/32) to 118 63/64.

Leading Internet and tech stocks performed as follows:

Company                      $ Change   % Change      Close
Amazon (Nasdaq:AMZN)         -1 11/16     -2.33%   70 11/16
America Online (NYSE:AOL)      +4 1/8     +6.12%     71 1/2
Commerce One (Nasdaq:CMRC)    -2 5/16     -1.11%  206 11/16
Cisco (Nasdaq:CSCO)          +3 33/64     +2.50%    144 3/8
CMGI (Nasdaq:CMGI)             +2 3/4     +2.22%    126 3/4
Dell (Nasdaq:DELL)               +1/8     +0.22%     58 1/8
Ebay (Nasdaq:EBAY)            +18 1/8     +8.45%    232 5/8
ExciteAtHome (Nasdaq:ATHM)    +2 7/16     +8.61%     30 3/4
Exodus (Nasdaq:EXDS)          +14 1/8     +9.10%    169 3/8
Intel (Nasdaq:INTC)            +5 5/8     +4.06%   144 1/16
Juniper (Nasdaq:JNPR)          +7 1/4     +2.80%    266 1/4
Lucent (NYSE:LU)               -4 1/2     -6.72%     62 1/2
Microsoft (Nasdaq:MSFT)          +1/2     +0.49%    103 1/4
Oracle (Nasdaq:ORCL)           +3 3/8     +4.18%    84 1/16
Schwab (NYSE:SCH)             +3 1/16     +5.63%     57 1/2
Sun Micro. (Nasdaq:SUNW)       -2 1/2     -2.52%     96 3/4
Qualcomm (Nasdasq:QCOM)          +1/4     +0.19%    134 7/8
Qwest (NYSE:Q)                     -2     -4.04%     47 1/2
Yahoo (Nasdaq:YHOO)           +5 7/16     +2.84%   197 3/16

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3. Notable Earnings Announcements

There were no notable earnings announcements today.  For a
calendar of recent and upcoming earnings announcements, please
visit: http://www.smartportfolio.com/earnings.asp
<A HREF="http://www.smartportfolio.com/earnings.asp">AOL users
click here</A>

4. Notable Upgrades and Downgrades

For full coverage of today's upgrades, downgrades and coverage
initiations, please click on the appropriate links below:

-- Upgrades - http://www.smartportfolio.com/upgrades.asp
<A HREF="http://www.smartportfolio.com/upgrades.asp">AOL users
click here</A>

Quaker Oats (NYSE:OAT) was upgraded by Goldman Sachs to market
outperform from market perform.  Shares of the packaged food
company lost 1 3/4 (-3.24%) to 52 1/4.

Agency.com (Nasdaq:ACOM) was upgraded by Goldman Sachs to
trading buy from market outperform.  Shares of the Internet
professional services firm shot up 16.85% (up 4 11/64) to 28
15/16.

Gene Logic (Nasdaq:GLGC) was upgraded by ING Barings to strong
buy from buy.  Shares of the bio-tech company surged 55.97% (up
22 1/4) to 62.

-- Downgrades - http://www.smartportfolio.com/downgrades.asp
<A HREF="http://www.smartportfolio.com/downgrades.asp">AOL users
click here</A>

Merrill Lynch lowered its ratings on two jewelry retailers,
Tiffany & Co. (NYSE:TIF) and Zale Corp. (NYSE:ZLC), to near-term
accumulate from near-term buy.  Tiffany shares fell 3 7/16 (-
4.56%) to 71 7/8 and Zale shares lost 3 3/4 (-7.51%) to 46 3/16.

Travelers Property Casualty (NYSE:TAP) was downgraded by both
ING Barings and Warburg Dillon Read to hold from strong buy.
Travelers Property shares were unchanged at 40 15/16.

-- Coverage Initiation:
http://www.smartportfolio.com/initiated.asp <A
HREF="http://www.smartportfolio.com/initiated.asp">AOL users
click here</A>

Morgan Stanley initiated coverage of a host of building
materials companies, including Vulcan Materials Co. (NYSE:VMC),
down 1 (-2.28%) to 42 15/16, Masco Corp. (NYSE:MAS), down 9/16
(-2.52%) to 21 3/4, and Martin Marietta Materials (NYSE:MLM),
down 3/4 (-1.63%) to 45 1/4, with outperform ratings.

Nike (NYSE:NKE) was started by Credit Suisse First Boston with a
buy rating.  Shares of the athletic shoe and apparel company
gained 5/8 (+1.89%) to 33 3/4.

JDS Uniphase (Nasdaq:JDSU) was initiated by W.R. Hambrecht with
a rating.  Shares of the fiber optics company rose 3 7/8
(+3.05%) to 130 7/8.

Goldman Sachs started coverage of Elan Corp. PLC (NYSE:ELN) by
placing the company on its Recommended List.  Shares of the
global pharmaceutical company edged up 5/16 (+0.73%) to 43 1/4.

5. Stock Splits

To obtain the latest information on stock splits, please visit:
http://www.smartportfolio.com/splits
<A HREF="http://www.smartportfolio.com/splits">AOL users click
here</A>

This chart shows the companies that will split their shares
during the next 4 business days.  The "Pay" column shows the
payable date.  The "Ex" column refers to the ex-date, the date
on which the stock begins to trade at its split-adjusted price.
The ratio refers to the number of split shares stockholders will
receive (a 2:1 ratio means that stockholders will receive one
additional share for each share they already hold).

Pay     Ex                                     Ann.    Split
Date    Date    Company                  Sym.  Date    Ratio

Mar 21  Mar 22  Evercel                  EVRC  Feb 25  2-1
Mar 22  Mar 23  Trintech Group           TTPA  Mar 10  2-1
Mar 22  Mar 23  Active Voice             ACVC  Jan 27  2-1
Mar 22  Mar 23  Cisco Systems            CSCO  Feb 08  2-1
Mar 22  Mar 23  EchoStar Communications  DISH  Feb 28  2-1
Mar 22  Mar 23  Puma Technology          PUMA  Feb 23  2-1
Mar 22  Mar 23  Network Appliance        NTAP  Feb 23  2-1
Mar 22  Mar 23  Sanmina Corporation      SANM  Jan 18  2-1
Mar 23  Mar 24  Applied Micro Circuits   AMCC  Mar 13  2-1
Mar 23  Mar 24  Breakaway Solutions      BWAY  Mar 06  2-1
Mar 23  Mar 24  Applied Micro            AMCC  Mar 13  2-1
Mar 24  Mar 27  Pinnacle Systems         PCLE  Feb 04  2-1
Mar 24  Mar 27  Hauppauge Digital        HAUP  Feb 10  2-1
Mar 24  Mar 27  London Pacific           LDP   Mar 13  4-1
Mar 24  Mar 27  Art Tech Grp             ARTG  Feb 29  2-1
Mar 24  Mar 27  JWGenesis Fincl          JWG   Feb 16  3-2
Mar 25  Mar 27  California Software      CAWC  Feb 23  2-1

6. IPO Commentary - http://www.smartportfolio.com/ipo
<A HREF="http://www.smartportfolio.com/ipo">AOL users click
here.</A>

Despite the underlying strength in the tech sector today, only
two companies made their public debut and with mixed results.
The big winner on the day was telecommunications chip component
maker inSilicon (Nasdaq:INSN), which surged 79.69%% to 21 9/16.
This company was highlighted in last week's Smat!IPO Report as a
likely winner.

The other IPO on the day -- that of PartsBase.com (Nasdaq:PRTS),
a provider of business-to-business (B2B) services in the airline
industry -- did not perform as well.  The company's shares fell
12.50% to 11 3/8.

Although PartsBase.com did not soar like some of its leading B2B
predecessors, such as Comemrce One (Nasdaq:CMRC), Ariba
(Nasdaq:ARBA), or VerticalNet (Nasdaq:VERT), this doed not
necessarily signal a shift away from B2B stocks.  Rather, it is
due more to the recent flood of B2B IPOs.  These IPOs should be
judged on their individual merits -- promising ones could still
fly.  SmartPortfolio.Com will be watching.

There are many more very promising IPOs expected to start
trading later this week and next week.  For more information on
these and other upcoming IPOs, please visit
http://www.smartportfolio.com/freetrial
<A HREF="http://www.smartportfolio.com/freetrial">AOL users
click here.</A>

7. IPOs Trading Wednesday

inSilicon Corp. (Nasdaq:INSN) - Provider of communications
semiconductor intellectual property, or SIP, that is used by
semiconductor and systems companies to design complex
semiconductors called systems-on-a-chip, or SOCs, that are
critical components of digital devices.
Price: 12  Open: 23  High: 25 1/2
Close: 21 9/16  Change: +9 9/16 (+79.69%)

PartsBase.com Inc. (Nasdaq:PRTS) - An online provider of
Internet business-to-business e-commerce services for the
aviation industry.
Price: 13  Open: 13  High: 13 13/16
Close: 11 3/8  Change: -1 5/8 (-12.50%)

8.  IPO Calendar - http://www.smartportfolio.com/ipo
<A HREF="http://www.smartportfolio.com/ipo">AOL users click
here.</A>

*Indicates an Internet related issue.

*3/23 - Blaze Software Inc (NASDAQ:BLZE) - Provider of
infrastructure software that enables companies to provide their
customers, employees, partners and suppliers with adaptable and
personalized interactions that are consistent across all company
communication channels, or touchpoints.

3/23 - Breezecom Ltd  (NASDAQQ:BRZE) - Developer and
manufacturer of wireless access products used worldwide by
service providers and private enterprises.

3/23 - Iteris Inc (NASDAQ:ITER) - Designs, develops, markets and
implements software based solutions that improve the safety and
efficiency of vehicle transportation.

3/23 - Sun Life Financial Services of Canada Inc (NYSE:SLC) - A
diversified financial services firm with operations in Canada,
the United States, the United Kingdom, India, Hong Kong, the
Philippines, Indonesia, Japan, Bermuda and Chile.

3/23 - Port Financial Corp (NASDAQ:PORT) - Holding company for
Cambridgeport Bank.

3/24 - eMachines Inc (NASDAQ:EEEE) - Provider of low-price
branded personal computers.

*3/24 - Eprise Corp (NASDAQ:EPRS) - Provides software products
and services that enable businesses to manage the information
contained on their Web sites.

*3/24 - Etinuum Inc (NASDAQ:ETIN) - Provides an integrated set
of strategic, technological, operational and analytical
solutions for clients e-commerce and other direct-to-customer
sales and marketing initiatives.

*3/24 - Hanaro Telecom (NASDAQ:HANA) - Provider of high-speed
Internet access, local telephony, multimedia and data services
in Korea.

3/24 - ImageWare Systems Inc (AMEX:IWU) - Develops, sells and
supports a suite of modular software products that is used by
law enforcement and public safety agencies to manage criminal
history records.

3/24 - Silicon Laboratories Inc (NASDAQ:SLAB) - Designer and
developer of proprietary, analog-intensive, mixed-signal
integrated circuits, or ICs, for the communications industry.

3/24 - Viasystems Group Inc (NYSE:VG) - A worldwide independent
provider of electronics manufacturing services, or EMS.

To find out more about which IPOs are expected to outperform,
please go to: http://www.smartportfolio.com/freetrial
<A HREF="http://www.smartportfolio.com/freetrial">AOL users
click here.</A>

***********************Advertisement*************************

TERAYON (Nasdaq:TERN) SOARS 11.80% TODAY!

Haven't heard of this explosive broadband company?
Subscribers to the Smart!Internet Report have - they read an in-
depth analysis of this company back on October 13, 1999 when its
shares closed at 42 5/8; today, they closed at 197 7/8,
representing a 364% gain since that report!

To find out about your next compelling investment opportunity,
try a FREE 2-week trial subscription to the Smart!Internet
Report by visiting: http://www.smartportfolio.com/freetrials
<A HREF="http://www.smartportfolio.com/freetrials">AOL users
click here</A>
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