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05:29 PM ---------------------------


"SmartPortfolio.Com" <admin_update@smartportfolio.com> on 01/24/2000 04:18:13 
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Please respond to "SmartPortfolio.Com" <admin_update@smartportfolio.com>
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Subject: SmartPortfolio.Com Update:  Markets Sell Off After Early Gains



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Update January 24, 2000

Monday's Market Update: Markets Sell Off After Early Gains

 1. Monday'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 Monday
 8. IPO Calendar

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There are a plenty of hot companies set to go public in coming weeks.
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Need this report sooner?  Please remember that you can always read the
update on our web site at http://www.smartportfolio.com/update
The update is posted at approximately 5:15 PM EST every day.

1.  Monday's Market Action

                             $ Change   % Change      Close
Dow Industrials               -243.54     -2.16%   11008.17
S&P 500                        -39.45     -2.74%    1401.91
Nasdaq                        -139.32     -3.29%    4096.08
Internet Stock Index           -40.38     -4.51%     854.24

Markets gave up early gains and spiraled downward today on heavy
volume, as investor fears that the upcoming Fed meeting may lead to an
increase in interest rates contributed to a broad-based sell off in
stocks.

**ALERT:  After the markets closed, Walt Disney (NYSE:DIS) announced
fiscal first quarter earnings of 25 cents per share, which beat analyst
estimates of 20 cents, and also announced that it has named Robert Iger
as President & Chief Operating Officer of the entertainment giant, a
move that was expected.

The music industry was rattled by the announcement of a joint venture
between EMI Group plc and Time Warner (NYSE:TWX).  The two companies
will combine their recorded music and music publishing businesses in a
separate company to be called Warner EMI Music.  That company will be
one of the world's leading music companies, with some of the biggest
performing artists on its roster, such as the Rolling Stones, Beatles,
Madonna, Eric Clapton, Phil Collins and Spice Girls.  Although the
roughly $20 billion company will be owned equally by Time Warner and
EMI Group, Time Warner will control the entity, which means that
America Online (NYSE:AOL) will ultimately run the company if the
proposed AOL-Time Warner merger is consummated.  Time Warner shares
finished lower by 3 1/4 (-3.57%) to 87 7/8, while stocks of other
companies that are viewed as possible music industry alliance partners
also finished lower, with Walt Disney (NYSE:DIS) off 1/4 (-0.76%) to 32
1/2, News Corp. (NYSE:NWS) down 1 5/8 (-3.74%) to 41 7/8, and Sony
Corp. (NYSE:SNE), parent of Sony Music, declining 1 5/8 (-0.69%) to 233
3/8.  The stock of another potential partner, Germany's Bertelsmann
(BMG), does not trade in the U.S.

In another music industry deal, Liquid Audio (Nasdaq:LQID) shares
surged 31.64% (up 8 3/16) to 34 1/16 on news the online digital music
provider has joined with Microsoft Corp. (Nasdaq:MSFT) to add support
for the distribution of Liquid Audio's extensive catalog of songs and
music previews in Windows Media (WMA) format.  The WMA format, which
Microsoft hopes will become the industry standard, is used to encode
digital music so it can be sent more quickly over the Internet and take
up less space on a hard drive.  Microsoft shares closed down 2 1/2 (-
2.41%) today.

This Wednesday's Smart!Internet Report will highlight the online music
industry, which will include an analysis of the Time Warner-EMI and
Microsoft-Liquid Audio deals.  To gain access to this report, sign up
for a FREE 2-week trial to the Smart!Internet Report at:
http://www.smartportfolio.com/freetrial
<A HREF="http://www.smartportfolio.com/freetrial">AOL users click
here</A>

Recent speculation that Dow component Procter & Gamble (NYSE:PG) was
pursuing a takeover of both Warner-Lambert (NYSE:WLA) and American Home
Products (NYSE:AHP) came to an end today when the consumer products
giant announced it has ended its discussions with the drug companies.
Warner-Lambert then issued a statement saying it was continuing to
explore options, including talks with Pfizer (NYSE:PFE), which has made
a $78 billion unsolicited bid for Warner-Lambert, that could lead to a
takeover.  Shares of Procter & Gamble, which have plummeted since it
began pursuing a possible deal with the drug companies, bounced back
7/16 (+0.43%) to 103 1/8 today, which was a positive force on the
mostly negative Dow today.  Warner-Lambert shares slipped 4 1/4 (-
4.62%) to 87 3/4 and AHP shares sank 5 3/8 (-11.20%) to 42 5/8, while
other leading drug companies finished lower, with Merck (NYSE:MRK) down
2 3/16 (-3.02%) to 70 1/4, Schering-Plough (NYSE:SGP) off 2 3/4 (-
6.49%) to 39 5/8, and Johnson & Johnson (NYSE:JNJ) falling 6 3/16 (-
6.88%) to 83 11/16.

In other Dow news:

-- Intel Corp. (Nasdaq:INTC) shares were sharply higher during the day
but then closed up 7/8 (+0.89%) to 98 13/16 on the heels of positive
comments from respected computer systems analyst Dan Niles of Robertson
Stephens.  Niles reiterated his buy rating and $125 price target on
Intel, saying the world's leading semiconductor company is performing
well in January and should benefit from the expected rebound in PC
demand following the recent Year 2000 slowdown.

-- General Electric (NYSE:GE) shares were a major catalyst for today's
steep decline in the Dow, dropping 6 1/16 (-4.21%) to 138 1/16 after an
article in Barrons over the weekend expressed some concerns regarding
GE's most recent quarterly financial results.

-- AT&T (NYSE:T) shares fell 1 9/16 (-3.00%) to 50 1/2 despite reports
that the telecom giant may cut up to 25% of its executive staff.

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
<A HREF="http://www.smartportfolio.com/freetrial">AOL users click
here</A>

Shares of both Healtheon/WebMD (Nasdaq:HLTH) and Quintiles
Transnational (Nasdaq:QTRN) posted big gains today after the two
health-related companies announced an acquisition and strategic
alliance.  First, Healtheon/WebMD will acquire Quintiles' electronic
data interchange unit, ENVOY Corporation, for $2.5 billion, which will
allow Healtheon/WebMD to process close to 2 billion transactions a year
for its healthcare customers.  Second, under terms of the strategic
alliance, Quintiles will invest up to $100 million in Healtheon/WebMD
to develop Web-based products and services targeted at drug
development, physician detailing and direct-to-consumer information
delivery, while Healtheon/WebMD will be the exclusive provider of
Quintiles' Web-enabled services.  Healtheon/WebMD shares rose 9.34% (up
5 9/16) to 65 1/8 and Quintiles shares climbed 12.53% (up 3 1/16) to 27
1/2.

Shares of Amazon.com (Nasdaq:AMZN) and drugstore.com (Nasdaq:DSCM)
stood out in the Internet sector today after the leading online
retailer and online drugstore announced an expansion of their business
relationship.  Under terms of the deal, drugstore.com will be given a
shopping "tab" on Amazon.com's site in exchange for $105 million over 3
years.  In addition, Amazon.com will invest another $30 million in
drugstore.com, which raises its stake in the online drugstore to
roughly 28%.  Jeff Bezos, founder and CEO of Amazon.com, said in a
statement: "We're working to make Amazon.com the only place where you
can find anything and everything you might want to buy online -- what
you're seeing today is a completely new component of that strategy."
In separate news concerning Amazon.com, Goldman Sachs upgraded the
online retailer to trading buy from market outperform and reiterated
its $140 price target on the stock.  Amazon.com shares bolted 12.99%
(up 8 1/16) to 70 1/8 and drugstore.com shares surged 20.17% (up 5 7/8)
to 35.

Most other leading Internet stocks started strong but finished lower,
with Yahoo! (Nasdaq:YHOO) sinking 26 11/16 (-7.58%) to 325 1/4, CMGI
(Nasdaq:CMGI) down 8 (-6.77%) to 110 1/4, Ebay (Nasdaq:EBAY) off 14 1/8
(-9.39%) to 136 3/8, and priceline.com (Nasdaq:PCLN) declining 5.61%
(down 3 9/16) to 59 15/16.

CompUSA (NYSE:CPU) shares bolted 41.67% (up 2 13/16) to 9 9/16 after
Grupo Sanborns SA de CV, a Mexican retailing company, announced plans
to acquire the U.S. #1 computer retailer for $10.10 per share in a cash
tender offer.  Grupo Sanborns said in a statement that it expected
Telefonos de Mexico (NYSE:TMX), Microsoft Corp. (Nasdaq:MSFT) and SBC
Communications (NYSE:SBC) to be minority investors in the company.

Level 3 Communications (Nasdaq:LVLT) announced a major acceleration and
expansion of its business plan, saying it would spend $3.5 billion in
capital expenses in 2000 and $2.5 billion in 2001 to build out its
global fiber-optic networks.  Level 3 shares closed up 2 3/8 (+2.15%)
to 112 7/8.

In a strange trading pattern, shares of Enzo Biochem (NYSE:ENZ) were
all over the map today, rising as high as 139 before ending the day
down 44 (-36.07%) to 78.  Despite the gyrations in stock price, there
was no notable news concerning the bio-tech company.

Other big movers in the tech sector included:

-- MP3.com (Nasdaq:MPPP), down 1/2 (-1.69%) to 29 1/8 on heavy volume
after the online music service provider announced late last week it is
being sued by an industry trade group alleging breach of copyright.

-- Lexmark Intl. (NYSE:LXK), up 12 1/64 (+14.93%) to 92 1/2 after
reporting better than expected fourth quarter earnings and giving a
positive outlook for 2000

-- Avista Corp. (NYSE:AVA), soaring 15.16% (up 7 1/8) to 54 1/8 after
announcing its business-to-business (B2B) affiliate landed contracts
with CVS (NYSE:CVS), Home Depot (NYSE:HD), Staples (Nasdaq:SPLS), and
Time Warner (NYSE:TWX);

-- Siliconix (Nasdaq:SILI), rising 56 3/4 (+34.66%) to 220 1/2 after
the electronics component maker reported blow-out earnings and strong
revenue growth.

-- PMR Corp. (Nasdaq:PMRP), surging 109.09% (up 3) to 5 3/4 on news of
a financial restructuring and a venture capital investment that will be
used to finance its new Internet health care information subsidiary.

Leading Internet and tech stocks performed as follows:

Company                      $ Change   % Change      Close
Amazon (Nasdaq:AMZN)          +8 1/16    +12.99%     70 1/8
America Online (NYSE:AOL)      -2 7/8     -4.44%     61 7/8
Commerce One (Nasdaq:CMRC)   +1 11/16     +0.85%  199 11/16
Cisco (Nasdaq:CSCO)           -6 3/16     -5.37%   109 1/16
CMGI (Nasdaq:CMGI)             -7 5/8     -6.45%    110 5/8
Dell (Nasdaq:DELL)            -2 3/16     -5.00%    41 9/16
Ebay (Nasdaq:EBAY)            -14 1/8     -9.39%    136 3/8
ExciteAtHome (Nasdaq:ATHM)         -2     -4.97%     38 1/4
Exodus (Nasdaq:EXDS)         -8 15/16     -6.48%  128 15/16
Intel (Nasdaq:INTC)              +7/8     +0.89%   98 13/16
Juniper (Nasdaq:JNPR)         -8 9/16     -5.71%    141 3/8
Lucent (NYSE:LU)               +1 1/8     +2.13%     53 7/8
Microsoft (Nasdaq:MSFT)        -2 1/2     -2.41%    101 1/4
Oracle (Nasdaq:ORCL)           -5 1/2     -9.21%    54 3/16
Schwab (NYSE:SCH)              -1 5/8     -4.22%     36 7/8
Qualcomm (Nasdasq:QCOM)       -14 7/8     -9.60%   140 1/16
Qwest (NYSE:Q)                   -3/4     -1.81%     40 3/4
Yahoo (Nasdaq:YHOO)           -27 5/8     -7.85%   324 5/16

3. Notable Earnings Announcements

For a calendar of recent and upcoming earnings announcements, visit:
http://www.smartportfolio.com/earnings.asp
<A HREF="http://www.smartportfolio.com/earnings.asp">AOL users click
here</A>

**ALERT:  After the markets closed, Texas Instruments (NYSE:TXN)
reported fourth quarter profits of 51 cents per share, which beat
analyst estimates of 47 cents.

The following Dow components reported earnings today:

-- Eastman Kodak (NYSE:EK) reported that its fourth quarter earnings
increased by 21% compared to the year ago period to finish at $1.27 per
share, which beat First Call consensus estimates of $1.24 per share.
The leading U.S. film manufacturer attributed the favorable results to
sales growth and efforts to cut costs.  Kodak shares rose 1 5/16
(+2.16%) to 62 1/16.

-- American Express (NYSE:AXP) posted profits of $1.33 per share, which
was in line with First Call consensus estimates.  The company also
announced that its board of directors approved a 3-for-1 stock split.
Shares of the financial services company fell 3/8 (-0.25%) to 151 5/16.

Bristol-Myers Squibb (NYSE:BMY) announced its fourth quarter profits
rose 16% to 52 cents per share due to strong drug sales.  The results
beat First Call consensus estimates of 51 cents.  Shares of the #3 U.S.
drug maker dipped 2 1/2 (-4.09%) to 58 11/16.

Two leading local telephone companies reported fourth quarter earnings
today:

-- Bell Atlantic Corp.'s (NYSE:BEL) earnings came in at 77 cents per
share, which matched First Call consensus estimates.  Shares of the
company, which is set to buy GTE Corp. (NYSE:GTE), edged up 1/16
(+0.10%) to 60 1/8.

-- BellSouth Corp.'s (NYSE:BLS) profits rose 21% to 53 cents per share,
which was just ahead of First Call consensus estimates of 52 cents.
Shares of the Southeastern U.S. local telephone operator fell 1 1/8 (-
2.39%) to 45 15/16.

Ralston Purina Co. (NYSE:RAL) reported fiscal first quarter earnings of
64 cents per share, which was well ahead of First Call consensus
estimates of 48 cents.  Shares of the pet food maker rose 5/16 (+1.16%)
to 27 1/4.

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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>

Amazon.com (Nasdaq:AMZN) was upgraded by Goldman Sachs to trading buy
from market outperform.  See related story above.

Compaq Computer (NYSE:CPQ) was upgraded by Donaldson, Lufkin & Jenrette
(DLJ) to buy from market perform.  Shares of the computer maker rose 1
1/8 (+3.60%) to 32 3/8.

Mitel Corporation (NYSE:MLT) was upgraded by Merrill Lynch to near-term
accumulate from near-term neutral.  Shares of the semiconductor
manufacturer closed down 3/16 (-1.13%) to 16 3/8.

Ryerson Tull (NYSE:RT) was upgraded by Bear Stearns to buy from
neutral.  Shares of the steel processor and distributor gained 1 5/16
(+7.87%) to 18.

Mercury Computer (Nasdaq:MRCY) was upgraded by Prudential Securities to
strong buy from accumulate.  Shares of the computer systems
manufacturer dropped 2 3/4 (-8.15%) to 31.

Occidental Petroluem (NYSE:OXY) was upgraded by PaineWebber to buy from
attractive.  Shares of the crude oil and natural gas giant dropped
15/16 (-4.32%) to 20 3/4.

Ericcson (Nasdaq:ERICY) was upgraded by Lehman Brothers to buy from
outperform.  Shares of the telecommunications company gained 1 (+1.50%)
to 67 3/4.

Credit Suisse First Boston (CSFB) upgraded Sysco Corporation (NYSE:SYY)
to buy from hold.  Shares of the largest marketer and distributor of
food service products in North America closed down1 1 1/2 (-4.32%) to
34.

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

DLJ downgraded two oilfield services companies to market perform from
buy.  Shares of BJ Services (NYSE:BJS) dropped 1 7/8 (-4.09%) to 44
after DLJ downgraded the provider of pressure pumping and other
oilfield services, and shares of Ensco Internationl (NYSE:ESV) dropped
2 1/16 (-7.55%) to 25 1/4 following DLJ's downgraded of the
international offshore contract drilling company.

Columbia Laboratories (NYSE:COB) was downgraded by Banc of America
Securities to buy from strong buy.  Shares of the pharmaceutical
company edged lower by 9/16 (-8.04%) to 6 7/16.

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

Goldman Sachs initiated coverage of several Latin American
telecommunications companies, putting on its recommended list Compania
Anonima Nacional (NYSE:VNT), which gained 1/8 (+0.50%) to 24 15/16,
Telecom Argentina STET (NYSE:TEO), which rose 1/8 (+0.33%) to 37 9/16,
and Telefonos de Mexico (NYSE:TMX), which dropped 2 1/2 (-2.21%) to 110
1/2.

PPG Industries (NYSE:PPG) was initiated by JP Morgan with a buy rating.
Shares of the chemicals and materials manufacturing company dropped 5/8
(-1.07%) to 58.

Morgan Stanley initiated coverage of two computer services companies
with outperform ratings.  Shares of Insight Enterprises (Nasdaq:NSIT)
edged lower by 5/8 (-1.69%) to 36 1/4, while shares of CDW Computer
(Nasdaq:CDWC) fell 1/4 (-0.38%) to 65 7/8.

Lehman Brothers initiated coverage of several automobile companies,
including Toyota (NYSE:TM) with a neutral rating, Nissan (Nasdaq:NSANY)
with a neutral rating and Honda (NYSE:HMC) with a buy rating.  Shares
of Toyota rose 1 1/16 (+1.24%) to 86 15/16, shares of Nissan dropped
1/2 (-5.19%) to 9 1/8, and shares of Honda fell 1 5/16 (-1.84%) to 70
3/16.

Art Technology Group (Nasdaq:ARTG) was initiated by CSFB with a strong
buy rating.  Shares of the e-commerce software manufacturer jumped 15
7/8 (+12.67%) to 141 1/8.

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 5 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).

Company                                         Pay    Ex     Ratio

Copart (Nasdaq:CPRT)                            1/24  1/25    2:1
MicroStrategy (Nasdaq:MSTR)                     1/26  1/27    2:1
Morgan Stanley Dean Witter (NYSE:MWD)           1/26  1/27    2:1
SurgiLight (Nasdaq:SRGL)                        1/26  1/27    2:1
Razorfish (Nasdaq:RAZF)                         1/27  1/28    2:1
CYTYC (Nasdaq:CYTC)                             1/28  1/31    2:1
Forward Air (Nasdaq:FWRD)                       1/28  1/31    3:2
Human Genome (Nasdaq:HGSI)                      1/28  1/31    2:1

6. IPO Commentary

The IPO market is back in action, with a host of companies going public
this week.  This week's Smart!IPO Report presented in-depth analyses of
6 upcoming IPOs - we provided a detailed description of their
businesses and the industries in which they operate and then we
identified specific success factors for why we believe they are likely
to be strong performers.

On Monday, the 2000 IPO market started off just as the 1999 IPO
market came to an end:  business-to-business IPOs are still in high
demand.  Shares of Neoforma (Nasdaq:NEOF), an online marketplace for
medical supplies, exploded over 300%.  Subscribers to the Smart!IPO
report were notified of Neoforma's excellent potential in a recent
issue.  The pipeline for the remainder of this week as well as for
the next several weeks is full of companies that are focusing on the
business-to-business area as well as the Internet infrastructure
space.  For a full analysis on those companies expected to
outperform, subscribe to a FREE 2-week free trial at:
http://www.smartportfolio.com/freetrial
<A HREF="http://www.smartportfolio.com/freetrial">AOL users click
here.</A>

7. IPOs Trading Monday

Neoforma.com (Nasdaq:NEOF) - Provider of business-to-business e-
commerce services for medical products, supplies and equipment.
Price: 13 Open: 39 7/8 High: 60 15/16
Close: 52 3/8  Change: + 39 3/8 (+302%)

8.  IPO Calendar

For a calendar of upcoming IPOs and extensive information concerning
the IPO market, please visit: http://www.smartportfolio.com/ipo
<A HREF="http://www.smartportfolio.com/ipo">AOL users click here.</A>

Expected: JAN24-25
Regent Communications Inc (NASDAQ:RGCI)
A radio broadcasting company focused on acquiring, developing and
operating radio stations in small and mid-sized markets.

Expected: JAN24-25
Atlas Pipeline Partners LP (AMEX:APL)
Formed to acquire natural gas pipeline gathering systems owned by Atlas
America and Resource Energy. Subsidiary of Resource America, Inc.
(NASDAQ:REXI)

Expected: JAN25-26
T/R Systems Inc (NASDAQ:TRSI)
Designs, develops and markets digital document processing and printing
systems, consisting of proprietary software and hardware, for the
print-on-demand market.

Expected: JAN25-26
Extensity Inc  (NASDAQ:EXTN)
Provider of Internet-based workforce optimization software applications
designed to improve the productivity of employees across the enterprise
and to enhance enterprise operating efficiency. (INTERNET)

Expected: JAN25-26
724 Solutions Inc (NASDAQ, TORONTO:SVNX, SVN)
Provider of an Internet infrastructure solution to financial
institutions. (INTERNET)

Expected: JAN26-27
Packaging Corporation of America (NYSE:PKG)
Producer of containerboard and manufacturer of corrugated packaging
products.

Expected: JAN26-27
interWAVE Communications International Ltd (NASDAQ:IWAV)
Provider of compact wireless communications systems using GSM, an
international standard for voice and data communications.

Expected: JAN26-27
Sequenom Inc (NASDAQ:SQNM)
A pioneer in the new field of industrial genomics, the large scale
commercial use of the knowledge of DNA variations for improving health,
agriculture and livestock.

Expected: JAN26-27
Jeremy's Microbatch Ice Creams Inc (NASDAQ SC, BSE:JMIC, JMI)
Develops, markets and sells super-premium ice cream.

Expected: JAN26-27
HealthGate Data Corp (NASDAQ:HGAT)
Internet provider of healthcare information helping healthcare
professionals, patients and consumers make better informed healthcare
decisions. (INTERNET)

Expected: JAN26-27
John Hancock Financial Services Inc (NYSE:JHF)
One of the nation's leading financial services companies, providing a
broad array of insurance and investment products and services to retail
and institutional customers.

Expected: JAN27-28
NATCO Group Inc (NYSE:NTG)
Provider of wellhead equipment, systems and services used in the
production of oil and gas.

Expected: JAN27-28
Aspect Medical Systems Inc (NASDAQ:ASPM)
Develops, manufactures and markets anesthesia-monitoring systems that
enable anesthesia providers to assess levels of consciousness and
administer the appropriate amount of anesthetics during surgery.

Expected: JAN27-28
Precis Smart Card Systems Inc (NASDAQ SC:PSPS)
Develops and markets commercial software products used with a
technology commonly referred to as "smart cards."

Expected: JAN27-28
Intellesale.com Inc (NASDAQ:SALE)
Sells refurbished and new computer equipment and related components
through its website at www.Intellesale.com as well as through
traditional channels. (INTERNET)

Expected: JAN27-28
Cropking.com Inc  (NASDAQ SC:CROP)
Designs, develops, manufactures, markets and sells proprietary,
commercial hydroponic products and systems, and related technology,
equipment and supplies, to customers in the United States and abroad
for the commercial year-round production of high value, specialty,
disease and pesticide-free plant and floral crops. (INTERNET)

Expected: JAN27-28
Caminus Corp (NASDAQ:CAMZ)
Provider of software solutions and strategic consulting services to
participants in energy markets throughout North America and Europe.

Expected: JAN27-28
ST Assembly Test Services Ltd  (NASDAQ:STTS)
Lead Underwriter: Salomon Smith Barney Inc
An independent provider of a full range of semiconductor test and
assembly services.

Expected: JAN27-28
Turnstone Systems Inc (NASDAQ:TSTN)
Provider of loop management solutions that enable local exchange
carriers to rapidly deploy and efficiently maintain Digital Subscriber
Line, or DSL, services. (INTERNET)

Expected: JAN27-28
L90 Inc (NASDAQ:LNTY)
Provider of online advertising and direct marketing solutions for
advertisers and Web publishers. (INTERNET)


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

The IPO Market is Back -- Neoforma.com Soars 302% in Debut!

The Smart!IPO Report focuses on promising companies poised for strong
IPO returns.  Today's performance of Neoforma.com, which was
profiled in a recent Smart!IPO Report, is just one example.

There are a plenty of hot companies set to go public in coming weeks.
Our most recent Smart!IPO Report profiled 6 of them!  You can get this
report by subscribing to a FREE 2-week trial to the Smart!IPO Report
at: http://www.smartportfolio.com/freetrials
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here.</A>

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