Salomon makes a negative call on chips; ENTU (Entrust Technologies) CA*
(Computer Associates) and BMCS* (BMC Software) miss big and oh yes lets not
forget the post-holiday reverberations of ORCL's (Oracle) # 2 man stepping
down - it wasn't pretty in tech. Is it any wonder the Nasdaq was never in
the green and closed down over 125? In listed-land it was Saudi Arabia
threatening to sink oil prices vs. some buoyancy in the financials and drugs
- and the bears won with the Dow Industrials closing down 77. In tech - ENTU
down over 50%, ORCL down almost 9%, AMAT (Applied Materials) AMD (Advanced
Micro Devices) NSM (National Semiconductor) down 10% or more, VTSS (Vitesse
Semiconductor) MU (Micron Technologies) TXN (Texas Instruments) down over
6%, LU* (Lucent Technologies) CSCO (Cisco Systems) SUNW (Sun Microsystems)
GE (General Electric) YHOO (Yahoo) all down over 4%, RHAT (Red Hat Inc) down
7% - a couple of bright spots (but only a couple) AOL (America Online) up
over 2 1/2% and T (AT&T) up over 3%. The oils and the drillers were a drag -
BPA (BP Amoco PLC) and APA (Apache Corp) down 7%, TX (Texaco Inc) CHV
(Chevron Corp) and SLB (Schlumberger Inc) down over 4%, XOM (Exxon Mobile)
down 3%, BHI (Baker Hughes Inc.) down 6% meanwhile IMNX (Immunex Corp) BGEN
(Biogen) LLY (Ely Lilly) all up 4%, AMG (Affliated Mangers Group) up 7%, BMY
(Bristol Myers Squibb) up 2% and the financials - WFC (Wells Fargo) GS
(Goldman Sachs Group) C (Citigroup) all up 1%, MER (Merrill Lynch) MWD (MS
Dean Witter) ONE (Bank One Corp) ALL (Allstate Corp) all up 2%.... In the
CEUT Universe the stories of the day were BMCS* and CA* - both down 40%
after negative pre-announcements - CA* announced first and Paul Rodriguez
attributed the miss to three factors - Europe, mainframe slowness and not
closing two deals; BMCS* followed - the street did not react positively to
their morning call. Karl Motey's space was hit due to the Saloman call -
PMCS* (PMC Sierra Corp) KOPN+ (Kopin) down 8, TLCM* (Telecom Semiconductors)
PSEM* (Pericom Semiconductors) down 9, SSTI* (Silicon Storage) down almost
15... JDSU (JDS Uniphase) down over 9... IMAN (Imanage Inc) down 8%....
PROX* (Proxim) down over 5... VRTS* (Veritas Software) down over 4 1/2,
MUSE* (Micromuse) up over 3 1/2.... SPOT* (Panam Sat) down over 2.... JBL*
(Jabil Circuit) down over 2.... COVD* (Covad) up over 1.... after the close
RDCM+ (Radcom) pre-announced negatively.

FBI questioning Japan's NTT purchase of US ISP Verio - security concerns -
how can we bug?

Datek - taking limit orders in decimals.

Lernout and Hauspie - down 16% - questions about concentration of revenues.

AmericasMart.com - retailer of furnishings - UPS offering credit cards and
unsecured lines of credit to customers.

AOL - stake in SpeechWorks - maker of voice recong. software - phone access
to net becoming more vital.

Edgewater Tech - formally StaffMark - dumping temp staff business to be
e-commerce consulting firm.

Alcatel - buys private maker of optical components (Innovative Fibers of
Canada).

Ionics EMS - $1Billion disk drive order from Philips.

Sanyo - mobile phone/audio player (developed by consortium featuring Fujitsu
and Hitachi).

Comverse Tech. - buys Israeli wireless infrast. firm Exalink.

Carrefour (huge French retailer) and BNP-Paribas - online financial services
via retailers web portal.

Cable and Wireless - $30 million to Euro net incubator Gorilla Park.

Swissair - CEO quits for net start-up.

Brit T - aggressive WAP ad push - not paying off - consumers aren't buying.

Japan's NEC - planning NYSE listing.

WSJ - overview of sites targeting Latin American women.

NY Times - online phone calls catching on.

Waterpark in Denver - kids wear electronic wristwatch tracking device so
parents can locate them at all times.

Buy.com , Staples and eZimba - victims of electronic fraud - hackers use
gift certificates to get free merchandise.

Hotwire.com - coming in Sept. - discounted last minute empty airline seats -
watch out Priceline (not to be confused with airline backed Orbitz site).

iFilm - layoffs.

3i Networks - Java based ap service provider - for e-commerce - $1 million
first round.

Dept. of Agriculture - have invented Plumcots - cross between apricot and
plum.

petersons.com/private/ - site for info on private schools.

Mossberg of WSJ - review of Omnisky "wireless web" - has potential but not
really here yet.

Global Quest Network - hear 15 second ad - place call for free -available in
Dallas/Ft. Worth.

Dell - drops NextMonet.com (art sales site) from intranet - doesn't like
nude pictures.

INTC - settles patent suit vs. Via Tech.

HWP - 5% sake in Novadigm - intergrate their management soft. into HWP's
solution.

WorldSpy.com - free ISP - goes under.

Norway's Opera Soft. - develops browser for Psion's OS.

DSTM - profit warning.

Ibidlive - auctioning .tv domain names on web and TV.

WSJ Heard - analysis of CA debacle.

alteregonet.com - soft. to unify format of wireless content without regard
to device.

BMET - 3 for 2.

onlineconservatory.com - musicians can jam with their friends online.

CIBC - intiates RIMM* with a buy. (trading up in pre-market).

Orange - buys Brit. news site Ananova (and animated news anchor)

European Parl. - angry about American eavesdropping - say it's for corporate
espionage.

C.E. Unterberg Towbin's Paul Rodriguez - on CNN yesterday commenting on his
space.

C.E. Unterberg Towbin - INIT marketing in NY.

The information contained herein is obtained from sources we believe to be
reliable but its accuracy and completeness, and that of the opinions based
thereon, are not guaranteed. C.E. Unterberg Towbin, or one or more of its
partners, may have a position in any of the securities discussed herein. All
rights reserved by C.E. Unterberg Towbin. May not be reproduced in whole or
in part without prior written authorization. This report is not an offer to
sell or solicitation of an offer to buy the securities mentioned herein.
*C.E. Unterberg Towbin makes a market in this security and/or has analyst
coverage.
+C.E. Unterberg Towbin makes a market in this security and has been involved
in a recent financing.
_____________________________
Bram Towbin
C.E. Unterberg Towbin
10 East 50th Street
New York NY 10022

Telephone: 212 572 8163
Fax: 212 759 4032
Btowbin@unterberg.com
www.unterberg.com


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