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05:28 PM ---------------------------


"SmartPortfolio.Com" <admin_update@smartportfolio.com> on 02/07/2000 07:25:50 
PM
Please respond to "SmartPortfolio.Com" <admin_update@smartportfolio.com>
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Subject: SmartPortfolio.Com Update: Nasdaq Hits Record, Dow Slips



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Update February 7, 2000

Monday's Market Update: Nasdaq Hits Record, Dow Slips

 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. IPO Calendar

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

Hot IPOs Ready to Start Trading This Week!

This week is another sizzling week for IPOs, with a host of companies
ready to make their public debut!  Several IPOs profiled in prior
issues of the Smart!IPO Report skyrocketed on their public debuts and
have continued to surge even after their first days of trading.
MetaSolv Software (Nasdaq:MSLV) is a great example - it was profiled in
the November 14, 1999 issue of the Smart!IPO Report, before its
November 18, 1999 IPO, when shares of the software giant catapulted
189.47%!  Today, shares of MetaSolv closed up 6 3/4 (+6.47%) to 111,
representing a 101.82% increase from the closing price on its first day
of trading.  To find out about the next hot IPOs, you are invited to
subscribe to a FREE 2-week trial at:
http://www.smartportfolio.com/freetrials
<A HREF="http://www.smartportfolio.com/freetrials">AOL users click
here.</A>

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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 6:00 PM EST every day.

1.  Monday's Market Action

                             $ Change   % Change      Close
Dow Industrials                -58.01     -0.53%   10905.79
S&P 500                         -0.16     -0.01%    1424.21
Nasdaq                         +77.63     +1.83%    4321.77
Internet Stock Index           +10.86     +1.22%     902.75

The Nasdaq broke out this afternoon to surge to another record high
while the Dow closed lower on little news concerning Dow components.

The 3-month takeover drama surrounding drug company Warner-Lambert
(NYSE:WLA) has finally come to an end on news that Pfizer (NYSE:PFE)
will buy Warner-Lambert for roughly $90 billion in stock.  The deal
will create the #1 U.S. drug company and the second largest in the
world, with annual revenues of $28 billion and a research and
development budget of $4.7 billion in 2000.  Pfizer's Chairman and CEO,
William C. Steere, said in a statement: "By combining two world-class
organizations to create the fastest-growing major pharmaceutical
company in the world, we are positioned for global leadership in the
discovery of new medicines that will benefit millions of patients
around the world."

The deal officially kills Warner-Lambert's previous plans to combine
with American Home Products (NYSE:AHP) in a $58 billion merger, but AHP
will receive a $1.8 billion "break-up" fee as a result.  A "break-up"
fee is often used in the merger context to solidify a deal by making it
more expensive for a rival suitor to "break-up" the deal.  In this
case, that is exactly what happened as Pfizer came in to bust the AHP-
Warner-Lambert deal, but as a result Pfizer will have to pay the
largest break-up fee in history.

Pfizer shares rose 15/16 (+2.62%) to 36 11/16 on the news, while
Warner-Lambert shares climbed 2 9/16 (+2.71%) to 97 1/8 and AHP shares
moved up 2 1/2 (+5.49%) to 48.  Other drug stocks finished mixed, with
Merck (NYSE:MRK) edging up 3/16 (+0.25%) to 75 1/4, Johnson & Johnson
(NYSE:JNJ) slipping 11/16 (-0.84%) to 81 7/16, and Schering-Plough
(NYSE:SGP) losing 1/2 (-1.08%) to 45 7/8.

There was also a major deal in the chemicals sector today, with two oil
giants, Phillips Petroleum Company (NYSE:P) and Chevron Corp.
(NYSE:CHV), saying they intend to form a 50-50 joint venture combining
their worldwide chemicals businesses, with assets totaling more than $6
billion.  Phillips shares added 1 (+2.56%) to 40 and Chevron shares
edged up 1/2 (+0.64%) to 79 1/16.

In other large cap action, Hewlett-Packard (NYSE:HWP) surged 8.79% (up
10 3/8) to an all-time high of 128 3/8, Intel Corp. (Nasdaq:INTC) rose
3 1/8 (+2.98%) to 107 7/8, Philip Morris (NYSE:MO) ended lower by 1/16
(-0.30%) to 20 9/16, IBM (NYSE:IBM) was off 1 1/2 (-1.30%) to 114 1/8,
Eastman Kodak (NYSE:EK) dropped 1 1/4 (-1.98%) to 62, and Tyco Intl.
(NYSE:TYC) lost 7/8 (-2.19%) to 39 1/8.  In addition, Cisco Systems
(Nasdaq:CSCO), which is set to announce earnings tomorrow, closed up 4
1/16 (+3.35%) to 125 3/16.

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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here</A>

Yahoo! (Nasdaq:YHOO) shares closed up 1/2 (+0.14%) to 354, reversing
earlier dips after the online portal's Web site went down starting in
the early afternoon EST today.  Meanwhile, shares of Charles Schwab
(NYSE:SCH), which also reported some problems with its Web site today,
also ended higher, up 7/8 (+2.31%) to 38 13/16.

Lucent Technologies (NYSE:LU) made a move to enhance its optical
networking business by announcing it will acquire Ortel Corp.
(Nasdaq:ORTL), a developer of opto-electronic components that help
increase the bandwidth (or distribution capacity) of cable television
networks, in a stock deal valued at $2.95 billion.  Shares of the
world's biggest telephone equipment maker fell 1/2 (-0.88%) to 56 1/2
while Ortel shares sank 9 1/16 (-5.12%) to 168 1/16.  In other telecom
news, AT&T (NYSE:T) and Wireless One Network, L.P. today announced they
have reached an agreement for AT&T to buy Wireless One's assets in
Florida for an undisclosed amount.  AT&T said it expects the assets to
fill a strategic gap in its Florida operations.  AT&T shares rose 3/4
(+1.48%) to 51 3/8.

A major deal was announced in the e-business sector, as Kana
Communications (Nasdaq:KANA) said it would acquire Silknet Software
(Nasdaq:SILK) in a $4.2 billion deal.  Kana is a leading provider of
online marketing, sales and service solutions while Silknet provides
customer-focused e-business applications and systems.  Michael
McCloskey, the CEO of Kana, said in a statement: "This combination
enables Kana to expand our leadership by providing a web-architected e-
business platform and a comprehensive suite of customer-facing
applications for marketing, sales and service communications."  Kana
shares lost 18 3/8 (-7.10%) to 240 1/2 while Silknet Software shares
soared 44 13/16 (+32.36%) to 183 5/16.

Shares of Corel Corp. (Nasdaq:CORL) fell 11/16 (-3.44%) to 19 5/16
after the software company, which has recently expanded into the Linux
sector, said it will acquire Inprise/Borland Corporation (Nasdaq:INPR)
in a deal valued at roughly $2.44 billion.  Inprise/Borland provides
Internet access infrastructure and application development tools and
services.  Corel's President Michael Cowpland said in a statement:
"This merger enables us to offer end-to-end product solutions and
global support to all of our shared customers."  Inprise/Borland shares
gained 5/16 (+2.42%) to 13 1/4.

The merger between EarthLink Networks (Nasdaq:ELNKD) and MindSpring
Enterprises took effect today after shareholders of both companies
approved the planned combination.  The merged entity, which retains the
EarthLink name, is the country's 2nd-largest Internet access provider
with close to 3 million subscribers.  EarthLink shares (*Note: new
ticker above) were unchanged at 31 7/16.

The biotech sector had a strong showing on Wall Street today.  Amgen
(Nasdaq:AMGN) rose 7.06% (up 4 9/16) to 69 3/16, Human Genome Sciences
(Nasdaq:HGSI) surged 26 15/16 (+23.40%) to 142 1/16, Medimmune
(Nasdaq:MEDI) gained 12 5/8 (+9.75%) to 142 1/16, Affymetrix
(Nasdaq:AFFX) climbed 17 3/4 (+6.52%) to 289 7/8, and Genentech
(NYSE:DNA) increased 6 1/2 (+4.51%) to 150 1/2.  Biogen (Nasdaq:BGEN)
was the exception, however, as its shares fell 7/8 (-0.88%) to 98 1/4.

Other big movers in the tech sector included:

-- TCSI Corp. (Nasdaq:TCSI), a provider of telecommunications software
and services, skyrocketed 124% (up 3 7/8) to 7 on news that 3Com Corp.
(Nasdaq:COMS) signed a 4-year agreement with the company.  The
agreement provides that 3Com will use TCSI Corp.'s Catalant management
application and engineering services for its new CommWorks 5000
networking system.

-- Virtual Networks (Nasdaq:VNWK) shares dropped 20.61% (down 13 1/16)
to 50 5/16 after the maker of systems that manage Internet traffic flow
announced plans to acquire Avesta Technologies.

-- InterVu (Nasdaq:ITVU) shares rose 10.58% (up 12 3/8) to 129 3/8
after Akamai Technologies (Nasdaq:AKAM) announced plans to acquire the
company, which provides services to facilitate the delivery of live
video and audio content over the Internet, for close to $2.8 billion.
Akami shares lost 6 3/8 (-2.71%) to 228 5/8.

-- Applied Micro Circuits (Nasdaq:AMCC) shares jumped 14.93% (up 27
3/4) to 213 9/16 after Credit Suisse First Boston analyst Charlie
Glavin reinstated coverage of the chip maker with a strong buy rating
and set a $240 price target.

-- Sykes Enterprises (Nasdaq:SYKE) shares plunged 20.56% (down 3 11/16)
to 14 1/4 after the company reported lower-than-expected fourth quarter
earnings and said it would have to restate earnings from recent
quarters due to improper revenue recognition.

-- TriQuint Semiconductor (Nasdaq:TQNT) shares bolted 14 9/32 (+6.95%)
to 219 5/8 on the heels of a strong performance in the semiconductor
sector today.

Leading Internet and tech stocks performed as follows:

Company                      $ Change   % Change      Close
Amazon (Nasdaq:AMZN)          -3 9/16     -4.53%         75
America Online (NYSE:AOL)       -9/16     -0.97%     57 1/4
Commerce One (Nasdaq:CMRC)     +9 3/4     +6.12%    169 1/8
Cisco (Nasdaq:CSCO)           +4 1/16     +3.35%   125 3/16
CMGI (Nasdaq:CMGI)             +1 3/8     +1.16%  119 15/16
Dell (Nasdaq:DELL)               -7/8     -2.27%     37 5/8
Ebay (Nasdaq:EBAY)             +1 1/2     +0.89%   169 9/16
ExciteAtHome (Nasdaq:ATHM)       -3/8     -1.01%   36 15/16
Exodus (Nasdaq:EXDS)             -7/8     -0.70%    123 5/8
Intel (Nasdaq:INTC)           +3 3/16     +3.04%  107 15/16
Juniper (Nasdaq:JNPR)              +3     +1.76%        173
Lucent (NYSE:LU)                 -3/8     -0.66%     56 5/8
Microsoft (Nasdaq:MSFT)         +1/16     +0.06%    106 5/8
Oracle (Nasdaq:ORCL)           +2 1/8     +3.68%   59 15/16
Schwab (NYSE:SCH)                +7/8     +2.31%   38 13/16
Sun Micro (Nasdaq:SUNW)            +2     +2.39%     85 3/4
Qualcomm (Nasdaq:QCOM)             -4     -2.91%   133 7/16
Qwest (NYSE:Q)                   +1/4     +0.57%     44 1/8
Yahoo (Nasdaq:YHOO)              +1/2     +0.14%        354


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3. Notable Earnings Announcements

There were no notable earnings announcements today, although a host of
big earnings announcements are scheduled for this week.  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>

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>

Cisco Systems (Nasdaq:CSCO) was upgraded by Wit Capital/Sound View
Technology from buy to strong buy.  Shares of the technology giant
gained 4 1/16 (+3.35%) to 125 3/16.

Manugistics (Nasdasq:MANU) was upgraded by Banc of America Securities
from buy to strong buy.  Shares of the manufacturer of software for
synchronized supply chain management closed up 1 7/16 (+2.62%) to 56
3/8.

Praxair (NYSE:PX) was upgraded by Merrill Lynch from near term neutral
to near term buy.  Shares of the industrial gas industry company rose
5/8 (+1.51%) to 42.

Redback Networks (Nasdaq:RBAK) was upgraded by Thomas Weisel Partners
from buy to strong buy.  Shares of the networking systems company
closed up 14 1/4 (+7.16%) to 213 1/4.

Royal Dutch (NYSE:RD) was upgraded by Morgan Stanley Dean Witter from
neutral to outperform.  Shares of the oil and gas corporation edged up
1 1/16 (+2.02%) to 53 9/16.

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

Basin Exploration (Nasdaq:BSNX) was downgraded by JP Morgan from buy to
market perform.  Shares of the oil and gas exploration company fell 1
9/16 (-14.71%) to 9 1/16.

Hartford Financial (NYSE:HIG) was downgraded by JP Morgan from buy to
market perform.  Shares of the insurance giant dropped 1 15/16 (-4.63%)
to 39 15/16.

Donaldson, Lufkin & Jenrette (DLJ) downgraded several steel companies
from outperform to market perform, including LTV Corp. (NYSE:LTV),
which dropped 7/16 (-13.21%) to 2 7/8, Metals USA (NYSE:MUI), which
fell 5/16 (-3.73%) to 8 1/16, Olympic Steel (Nasdaq:ZEUS), which closed
down 1/8 (-2.63%) to 4 5/8, Steel Technologies (Nasdaq:STTX), which
fell 9/16 (-4.57%) to 11 3/4, and USX U.S.Steel (NYSE:X), which dropped
7/16 (-1.80%) to 23 7/8.

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

Avis Rent-A-Car (NYSE:AVI) was initiated by Salomon Smith Barney with a
market outperform rating.  Shares of the rental car company fell 5/16
(-1.45%) to 21 1/4.

American Dental (Nasdaq:ADPI) was initiated by Salomon Smith Barney
with a buy rating.  Shares of the dental practice management company
rose 7/8 (+10.94%) to 8 7/8.

Ciena Corp. (Nasdaq:CIEN) was initiated by Morgan Stanley Dean Witter
with an outperform rating.  Shares of the fiber optics communications
company gained 4 13/16 (+6.37%) to 80 3/8.

Constellation Energy Group (NYSE:CEG) was put on the Goldman Sachs
recommended list.  Shares of the electricity company gained 1/2
(+1.63%) to 31 1/4.

Peak International (Nasdaq:PEAKF) was initiated by DLJ with a buy
rating.  Shares of the supplier of precision engineered packaging
products remained unchanged at 13 1/2.

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

Forrester Research (Nasdaq:FORR)                 2/7   2/8    2:1
Microchip Technology (Nasdaq:MCHP)               2/7   2/8    3:2
Research Engineers (Nasdaq:RENG)                 2/7   2/8    2:1
99 Cents Only Stores (NYSE:NDN)                  2/8   2/9    4:3
Qlogic Corp. (Nasdaq:QLGC)                       2/8   2/9    2:1
Magic Software (Nasdaq:MGIC)                    2/10  2/11    3:1
Broadcom (Nasdaq:BRCM)                          2/11  2/14    2:1
Mercury Interactive (Nasdaq:MERQ)               2/11  2/14    2:1
PMC-Sierra (Nasdaq:PMCS)                        2/11  2/14    2:1
PSINet (Nasdaq:PSIX)                            2/11  2/14    2:1
Real Networks (Nasdaq:RNWK)                     2/11  2/14    2:1
Sycamore (Nasdaq:SCMR)                          2/11  2/14    3:1
Yahoo! (Nasdaq:YHOO)                            2/11  2/14    2:1

6. IPO Commentary

The IPO market continues its heavy pipeline this week as 24 issues are
expected to begin trading.  The theme remains that the Internet
infrastructure companies, as well as the business-to-business e-
commerce companies, will dominate the action.  To find our which IPOs
are expected to outperform this week, please go to:
http://www.smartportfolio.com/freetrial
<A HREF="http://www.smartportfolio.com/freetrial">AOL users click
here.</A>

7.  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>

*Indicates an Internet related issue.

*2/8 - BUY.COM Inc (NASDAQ:BUYX) - A leading multi-category Internet
superstore, offering a comprehensive selection of brand name computer
hardware and peripherals, software, books, videos, DVDs, computer
games, music and clearance equipment.

*2/8 - FASTNET Corp (NASDAQ:FSST) - An Internet service provider
targeting small and medium sized enterprises in selected high growth
markets in the mid-Atlantic area of the United States.

*2/8 - Organic Inc (NASDAQ:OGNC) - An Internet professional services
firm focused on the customer-to-business market.

*2/9 - Delano Technology Corp (NASDAQ:DTEC) - Provides communications
software that enables companies to use e-mail and the Internet to
automate business processes and to personalize and manage interactions
with their existing and prospective customers, partners, suppliers and
employees.

*2/9 - Cypress Communications Inc (NASDAQ:CYCO) - A building-centric
integrated communications provider serving small and medium-sized
businesses in major metropolitan markets throughout the United States.

*2/9 - Lightspan Partnership Inc (NASDAQ:LSPN) - Provider of
curriculum-based educational software and Internet products and
services used both in school and at home.

*2/9 - Vicinity Corp (NASDAQ:VCNT) - Provider of Internet-based
marketing infrastructure services.

2/9 - Jeremy's Microbatch Ice Creams Inc (TBA)- Develops, markets and
sells super-premium ice cream.

*2/9 - Landacorp Inc  (NASDAQ:LCOR) -
Offers business-to-business e-medical management solutions to
healthcare payers and providers.

2/10 - Precis Smart Card Systems Inc (NASDAQ:PSPS) - Develops and
markets commercial software products used with a technology commonly
referred to as "smart cards."

*2/10 - Witness Systems Inc (NASDAQ:WITS) - Provider of recording and
analysis software that enables companies to enhance their customer
interactions across multiple communications media.

*2/10 - XCare.net Inc (NASDAQ:XCAR) - Provider of Internet-based,
business-to-business connectivity, information exchange and electronic
commerce solutions for health care.

2/10 - Beasley Broadcast Group Inc (NASDAQ:BBGI) - The 16th largest
radio broadcasting company in the United States based on 1998 gross
revenues.

2/10 - FARGO Electronics Inc (NASDAQ:FRGO) - Developer, manufacturer
and supplier of desktop systems and associated consumable supplies for
the plastic card personalization and data encoding industry.

2/10 - VantageMed Corp (NASDAQ:VMDC) - Provider of healthcare
information systems and services distributed to over 10,000 customer
sites through a national network of 15 regional offices.

2/11 - Bio Aqua Systems Inc (AMEX:SEA, SEAW) - Holding company for
Tepual, S.A., a Chilean corporation that sells various branded products
for animal nutrition, including fish meal, feather meal and krill meal.

*2/11 - Chordiant Software Inc (NASDAQ:CHOR) - Provider of e-business
infrastructure software.

*2/11 - VarsityBooks.com (NASDAQ:VSTY) - Online retailer of new college
textbooks and have established a platform for marketing products and
services to the nation's 15 million college students.

*2/11 - Pets.com Inc (NASDAQ:IPET) - An online retailer of pet
products, integrating product sales with expert information on pets and
their care.

*2/11 - FLAG Telecom Holdings Ltd (NASDAQ:FTHL) - A global carriers'
carrier that develops and offers a broad range of innovative
telecommunications products and services to licensed international
carriers, Internet service providers and other telecommunications
companies.

*2/11 - VIA NET.WORKS Inc (NASDAQ:VNWI) - An international provider of
Internet access and services focused on small and mid- sized businesses
in Europe and Latin America.

2/11 - Diversa Corp  (NASDAQ:DVSA) - Discovers and develops novel
enzymes and other biologically active compounds.


2/11 - NetJewels.com Inc (AMEX:NTJ) - Internet based retailer and
wholesaler of jewelry and related products.

*2/11 - WebMethods Inc (NASDAQ:WEBM) - Provider of infrastructure
software and services that allow companies to achieve business-to-
business integration.

*2/11 - Lante Corp (NASDAQ:LNTE) - An Internet services company that
develops sophisticated technology-based solutions that enable emerging
electronic markets.


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

Hot IPOs Ready to Start Trading This Week!

This week is another sizzling week for IPOs, with a host of companies
ready to make their public debut!  Several IPOs profiled in prior
issues of the Smart!IPO Report skyrocketed on their public debuts and
have continued to surge even after their first days of trading.
MetaSolv Software (Nasdaq:MSLV) is a great example - it was profiled in
the November 14, 1999 issue of the Smart!IPO Report, before its
November 18, 1999 IPO, when shares of the software giant catapulted
189.47%!  Today, shares of MetaSolv closed up 6 3/4 (+6.47%) to 111,
representing a 101.82% increase from the closing price on its first day
of trading.  To find out about the next hot IPOs, you are invited to
subscribe to a FREE 2-week trial at:
http://www.smartportfolio.com/freetrials
<A HREF="http://www.smartportfolio.com/freetrials">AOL users click
here.</A>

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