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Subject: SmartPortfolio.Com Update: Nasdaq Sails Beyond 5000



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Update March 9, 2000

Thursday's Market Update: Nasdaq Sails Beyond 5000

 1. Thursday'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 Thursday
 8. IPO Calendar

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The update is posted at approximately 6:00 PM EST every day.

1.  Thursday's Market Action

                             $ Change   % Change      Close
Dow Industrials               +154.20     +1.56%   10010.73
S&P 500                        +34.99     +2.56%    1401.69
Nasdaq                        +149.60     +3.05%    5046.86
Internet Stock Index           +42.29     +3.95%    1111.96

The Dow recovered in Thursday afternoon's trading session,
making big gains before closing up sharply, while Internet and
technology stocks propelled the Nasdaq to its fifth biggest
single-day point gain ever to close above 5000 for the first
time in history.

Thursday's early market action had all major U.S. indexes
performing lower following the Labor Department's report that
the number of Americans applying for jobless benefits increased
for the second consecutive week to 280,000 from 275,000 in the
previous week.  At the same time, however, a more accurate
longer-term measure showed that the closely watched four-week
moving average fell for the second straight week to 277,250,
which represented the lowest figure in 26 years.  Economists
view the four-week moving average as a more dependable indicator
of job market trends since it accounts for weekly fluctuations.

Notwithstanding the Labor Department's report, financial stocks,
which typically are sensitive to news related to potential
interest rate hikes, performed well, with American Express
(NYSE:AXP) edging up 1/8 (+0.10%) to 122 7/8, JP Morgan
(NYSE:JPM) gaining 5/16 (+0.29%) to 107 11/16, Chase Manhattan
Bank (NYSE:CMB) closing up 2 1/8 (+2.69%) to 81 1/8, Goldman
Sachs (NYSE:GS) finishing up 5 7/16 (+5.34%) to 107 3/4, and
General Electric (NYSE:GE), which has a substantial financial
services component, rising 1 1/16 (+0.82%) to 131 3/8.

In other financial stock news, Deutsche Bank AG, Europe's
largest bank, and competitor Dresdner Bank AG, the third biggest
German bank, jointly announced on Thursday that Deutsche Bank
would commence a $30 billion takeover of Dresdner in a
transaction that would create the world's largest bank with $1.2
trillion in assets.  Under the deal, the combined company would
close approximately 800 branch offices and reduce payroll levels
dramatically.  It is estimated that these cuts would result in
annual cost savings of over $2.75 billion.  Following the
announcement, Wall Street began speculating about whether this
deal would put increasing consolidation pressure on U.S. banks,
including financial giant Citigroup (NYSE:C), which edged lower
by 7/16 (-0.87%) to 50 1/16.

One of the strongest performing sectors on Thursday was the
pharmaceutical idustry, with Bristol-Myers Squibb (NYSE:BMY)
jumping 12.04% (up 5 3/4) to 53 1/2, Merck (NYSE:MRK) gaining
6.93% (up 3 15/16) to 60 3/4 and Eli Lilly (NYSE:LLY) closing up
8.11% (up 4 1/2) to 60.

Insurance powerhouse Metropolitan Life Insurance announced on
Thursday that it would acquire the remaining interest in
insurance asset manager and research firm Conning Corp.
(Nasdaq:CNNG) in a deal valued at approximately $68 million.
MetLife already has a 61% stake in Conning that was captured
through MetLife's January acquisition of Conning's indirect
majority owner, General America Corp.  MetLife, which is
scheduled to trade its shares on the New York Stock Exchange by
the end of March, increased its offer from $10.50 per share of
Conning to $12.50 per share.  Shares of Conning gained 15.98%
(up 1 11/16) to 12 1/4, while shares of other companies in the
insurance space performed well, with Chubb (NYSE:CB) rising 3/4
(+1.68%) to 45 1/2, Aetna (NYSE:AET) closing up 3 1/8 (+5.77%)
to 57 1/4, and Hartford Financial Services (NYSE:HIG) gaining
15/16 (+3.19%) to 30 5/16.

Investors reacted on Thursday to the request by the Federal
Communications Commission (FCC) for more information relating to
the proposed $135 billion merger of America Online (NYSE:AOL),
the #1 Internet service provider, and Time Warner (NYSE:TWX),
the media and cable giant, after the initial filing by these
companies was deemed insufficient.  While a second request for
information by the Justice Department or Federal Trade
Commission frequently is viewed as a sign of potential delays in
approving a merger, analysts expect that the FCC request will
not delay significantly the agency's evaluation of the proposed
deal.  Shares of AOL rose 6 (+10.93%) to 60 7/8, while shares of
Time Warner gained 7 7/16 (+9.38%) to 86 3/4.

Among the big Dow movers on Thursday were:

<> Boeing (NYSE:BA), which closed up 3/8 (+1.12%) to 33 3/4
following the aerospace giant's announcement that an ongoing
strike could hurt the company's earnings and cause longer delays
of jet deliveries.

<> AT&T Corp. (NYSE:T), which dropped 3/8 (-0.71%) to 52 5/8
following news that Dan Hesse, president of the company's
wireless business that will be sold in what could be the largest
U.S. IPO ever, is leaving AT&T to take the helm at an Internet
start-up company.

<> Hewlett-Packard (NYSE:HWP), which rose 11 (+7.81%) to 151 7/8
and was a driving force behind Thursday afternoon's recovery on
the Dow.

2. Internet and Tech Stocks

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

Internet and technology stocks continued to drive the Nasdaq
higher, with several companies hitting new all-time highs during
Thursday's trading session.  Among the several high-flyers
reaching new records were Redback Networks (Nasdaq:RBAK), which
jumped 32 3/16 (+9.82%) to 359 7/8, Nextel Communications
(Nasdaq:NXTL), which rose 15 15/16 (+11.63%) to 152 15/16, Cisco
Systems (Nasdaq:CSCO), which closed up 6 15/16 (+ 5.24%) to 139
5/16, and Phone.com (Nasdaq:PHCM), which gained 24 1/2 (+16.90%)
to 169 1/2.

GoTo.com (Nasdaq:GOTO) announced on Thursday that it would
acquire AuctionRover.com, a resource for online auctions, in a
deal valued at approximately $170 million.  AuctionRover's
proprietary technology permits buyers to search for products and
services that are being auctioned in cyberspace.  Online search
engine GoTo.com operates an Internet marketplace that introduces
Web users to advertisers.  Shares of GoTo.com, which analysts
believe will benefit tremendously from its e-auction acquistion,
fell 2 5/8 (-5.20%) to 47 7/8, while shares of online auction
companies finished mixed for the day, with eBay (Nasdaq:EBAY)
dropping 1 1/2 (-0.82%) to 182 1/2, Yahoo (Nasdaq:YHOO), which
operates Yahoo! Auctions, gaining 6 1/4 (+3.53%) to 183 1/4, and
Amazon.com (Nasdaq:AMZN), which runs Amazon Auctions, closing up
5 3/16 (+8.15%) to 68 13/16.

In the wake of International Business Machines' (NYSE:IBM)
launch of a large-scale Internet campaign, the company announced
on Thursday that it has signed agreements under which local U.S.
telephone providers Bell Atlantic (NYSE:BEL) and SBC
Communications (NYSE:SBC) will test IBM's new Internet access
devices.  While IBM did not disclose the number of devices that
would be tested in the trials, analysts predicted that the
testing by Bell Atlantic and SBC Communications would be a major
step in IBM's efforts to shift its focus to the development of
products designed specifically for Internet access.  Shares of
IBM gained 1 3/8 (+1.29%) to 107 5/8, shares of Bell Atlantic
closed up 2 1/8 (+3.76%) to 58 5/8 and shares of SBC fell 1/16
(-0.15%) to 41 9/16.

Old economy fast-food titan McDonald's Corp. (NYSE:MCD)
officially has entered the age of the Internet.  The world's
largest fast food chain announced on Thursday that it has made a
significant investment Food.com, which provides online food
takeout and delivery services.  McDonald's also is exploring
various online opportunities for some of its smaller restaurant
brands, including Donatos Pizza, Boston Market and Chipotle
Mexican Grill.  Shares of McDonald's rose 7/8 (+2.85%) to 31
5/8.

Other big movers in the Internet and technology sectors
included:

<> Smith Micro Software (Nasdaq:SMSI), which skyrocketed 101.80%
(up 10 5/8) to 21 1/16 following the company's announcement that
it has developed a new wireless Internet access solution.

<> Globalstar Telecommunications (Nasdaq:GSTRF), which fell
12.99% (-2 11/16) to 18 and was one among the most active stocks
on the Nasdaq on Thursday following the downgrade of the company
by CIBC World Markets.

<> Copper Mountain (Nasdaq:CMTN), which rose 9.19% (up 8 13/16)
to 104 11/16 and rode the wave of a strong overall Nasdaq
performance.

Leading Internet and tech stocks performed as follows:

Company                      $ Change   % Change      Close
Amazon (Nasdaq:AMZN)          +5 3/16     +8.15%   68 13/16
America Online (NYSE:AOL)     +6 1/16    +11.05%   60 15/16
Commerce One (Nasdaq:CMRC)     +8 1/8     +3.09%    271 1/4
Cisco (Nasdaq:CSCO)          +6 15/16     +5.24%   139 5/16
CMGI (Nasdaq:CMGI)             +6 7/8     +4.96%    145 3/8
Dell (Nasdaq:DELL)             +3 1/2     +7.46%    50 7/16
Ebay (Nasdaq:EBAY)             -1 1/2     -0.82%    182 1/2
ExciteAtHome (Nasdaq:ATHM)       -3/8     -1.22%     30 3/8
Exodus (Nasdaq:EXDS)          -2 1/16     -1.28%   158 9/16
Intel (Nasdaq:INTC)           +3 7/16     +2.99%    118 3/8
Juniper (Nasdaq:JNPR)          +1 3/8     +0.50%        276
Lucent (NYSE:LU)                 +7/8     +1.29%     68 7/8
Microsoft (Nasdaq:MSFT)       +4 7/16     +4.64%        100
Oracle (Nasdaq:ORCL)             +7/8     +1.05%         84
Schwab (NYSE:SCH)            +1 15/16     +4.31%   46 15/16
Sun Micro (Nasdaq:SUNW)            +1     +1.04%     97 1/4
Qualcomm (Nasdasq:QCOM)        -2 1/8     -1.65%        127
Qwest (NYSE:Q)                +3 1/16     +5.69%     56 7/8
Yahoo (Nasdaq:YHOO)            +6 1/4     +3.53%    183 1/4

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3. Notable Earnings Announcements

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>

H.J. Heinz Co. (NYSE:HNZ) announced on Thursday that its fiscal
third quarter profits increased 3.5% year-over-year as
acquisitions helped boost sales growth.  Earnings for the maker
of StarKist canned tuna, Ore-Ida frozen potatoes and 9-Lives cat
food came in at 63 cents per share, which beat First Call
consensus estimates of 62 cents a share.  Shares of the giant
food company best known for its ketchup gained 1/4 (+0.73%) to
34 1/2.

Kroger Co. (NYSE:KR) reported on Thursday higher-than-expected
quarterly profits, as a partial result of greater sales of
private-label products.  Income came in at 39 cents a share,
from 32 cents a share in the year-earlier period, and exceeded
First Call consensus estimates of 38 cents a share.  Shares of
the #1 U.S. grocery chain closed down 5/8 (-4.07%)to 14 3/4.

Lands' End (NYSE:LE) announced on Thursday a 17% decline in
quarterly sales and posted income of 92 cents a share, missing
First Call consensus estimates of $1.09 a share.  Shares of the
Internet and catalog retailer rose 4 9/16 (+14.78%) to 35 7/16.

National Semiconductor (NYSE:NSM) reported on Thursday strong
quarterly profits based largely on increased orders and sales in
its analog chip business.  Earnings came in at 51 cents a share,
beating First Call consensus estimates of 45 cents a share.
Shares of the giant maker of chips for cellular phones and
wireless devices dropped 3 1/2 (-4.24%) to 79.

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>

Canon (Nasdaq:CANNY) was upgraded by Merrill Lynch from near-
term accumulate to near-term buy.  Shares rose 7/16 (+1.10%) to
40 5/16.

Eli Lilly (NYSE:LLY) was upgraded by SG Cowen from neutral to
buy.  Shares gained 4 1/2 (+8.11%) to 60.

Georgia-Pacific (NYSE:TGP) was upgraded by Credit Suisse First
Boston (CSFB) from hold to buy.  Shares closed up closed down
3/16 (-0.87%) to 21 1/4.

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

American Tower (NYSE:AMT) was downgraded by Morgan Stanley Dean
Witter (MSDW) from stong buy to outperform.  Shares fell 7/16 (-
0.81%) to 53 1/2.

Consolidated Papers (NYSE:CDP) was downgraded by CSFB fro buy to
hold.  Shares dropped 3/4 (-2.19%) to 33 1/2.

Globalstar Telecommunications (Nasdaq:GSTRF) was downgraded by
CIBC World Markets from buy to hold.  Shares closed down 2 11/16
(-12.99%) to 18.

Quintiles Transnational (Nasdaq:QTRN) was downgraded by Merrill
Lynch from near-term accumulate/long-term buy to near-term
neutral/long-term accumulate.  Shares fell 4 1/8 (-17.51%) to 19
7/16.

Triton PCS (Nasdaq:TPCS) was downgraded by Lehman Brothers from
buy to neutral.  Shares fell 3 7/8 (-5.76%) to 63 3/8.

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

Several retail clothing stores were initiated by Deutsche Banc
Alex. Brown (Deutsche Banc) with a market perform rating,
including Ann Taylor Stores (NYSE:ANN), which fell 1/16 (-0.26%)
to 23 15/16, and Bebe Stores (Nasdaq:BEBE), which dropped 3/8 (-
3.06%) to 11 7/8.

CompuCredit Corp. (Nasdaq:CCRT) was initiated by JP Morgan with
a buy rating.  Shares gained 1 1/2 (+4.71%) to 33 3/8.

Coventry Health Care (Nasdaq:CVTY) was initiated by Goldman
Sachs with a market perform rating.  Shares closed down 1/32 (-
0.39%) to 8.

Globix (Nasdaq:GBIX) was initiated by Merrill Lynch with a near-
term buy/long-term buy rating.  Shares closed up 4 3/8 (+8.00%)
to 59 1/16.

Honeywell (NYSE:HON) was initiated by Warburg Dillon Read with a
strong buy rating.  Shares rose 1 7/16 (+3.37%) to 44 1/8.

Radio One (Nasdaq:ROIA) was initiated by Morgan Stanley with a
strong buy rating.  Shares rose 2 15/16 (+5.15%) to 60.

World Access (Nasdaq:WAXS) was initiated by Morgan Stanley with
a strong buy rating.  Shares jumped 26.50% (up 5 1/4) to 25
1/16.

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 10  Mar 13  JDS Uniphase           JDSU  Jan 03  2-1
Mar 10  Mar 13  Network Solutions      NSOL  Dec 22  2-1
Mar 10  Mar 13  Aspect Development     ASDV  Feb 15  2-1
Mar 13  Mar 14  SDL Inc                SDLI  Dec 20  2-1
Mar 13  Mar 14  Advanced Digital       ADIC  Feb 17  2-1
Mar 13  Mar 14  Advent Software        ADVS  Feb 17  2-1
Mar 13  Mar 14  NetVoice              NTVTE  Feb 15  2-1
Mar 13  Mar 14  BroadVision            BVSN  Feb 09  3-1
Mar 14  Mar 15  Brocade Communications BRCD  Feb 17  2-1

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

Two IPOs made their public debuts on Thursday amid a very
healthy, broad-market rally.  Shares of OraPharma, Inc.
(NASDAQ:OPHM), a developer of pharmaceutical products for the
treatment of oral diseases and disorders, bolted 73.61% to close
at 31 1/4, while shares of Riverdeep (Nasdaq:RVDPV), a provider
of technology based educational solutions, soared 243.30% to
close at 66 55/64.

In a show of strength, OTG Software, Inc. (NASDAQ:OTGS), a
provider of online data storage management and data access
solutions, sharply increased its pricing terms:  OTG's
underwriter increased the number of shares from 4 million to 5
million and increased the pricing range from $12-$14 to $16-$18.
In addition, Selectica, Inc. (NASDAQ:SLTC), a provider of
Internet selling system software and services, increased its
pricing range from $9-$11 to $23-$25.

It seemed impossible for investors to become any more excited
about technology/Internet stocks, but apparently they have.  To
find out more about OTG Software and Selectica and to learn of
more upcoming IPOs that are in strong demand, please go to
http://www.smartportfolio.com/freetrial
<A HREF="http://www.smartportfolio.com/freetrial">AOL users click
here.</A>

7.  IPOs Trading Thursday

OraPharma Inc (NASDAQ:OPHM) - Developer of pharmaceutical
products for the treatment of oral diseases and disorders.
Price: 18  Open: 24  High: 36 7/8
Close: 31 1/4 Change: +13 1/4 (+73.61%)

Riverdeep (Nasdaq:RVDPV) - Provider of technology based
educational solutions, specializing in creating educational
software for the K-12 market, delivered over the Internet.
Price: 20  Open: 58 1/8  High: 72 1/2
Close: 66 55/64 Change: +46 55/64 (+243.30%)

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.

3/9 - New China Homes Ltd (NASDAQ:-TBA-) - Builds homes in
planned residential communities for middle-class Chinese
families.

*3/10 - OTG Software Inc (NASDAQ:OTGS) - Provider of online data
storage management and data access solutions.

*3/10 - Gt Group Telecom (Nasdaq:GTTL) - Operator of a national
broadband network, providing Internet, high-speed data and voice
services to businesses in Canada.

*3/10 - HomeGrocer.com Inc (NASDAQ:HOMG) - An Internet retailer
of grocery and other consumer products.

*3/10 - Selectica Inc (NASDAQ:SLTC) - Provider of Internet
selling system software and services that enable companies to
efficiently sell complex products and services over intranets,
extranets and the Internet.

3/10 - Stratus Services Group Inc (NASDAQ:SERV) - Provider of
temporary staffing and engineering services.

3/10 - Bio Aqua Systems Inc (AMEX:SEA) - 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.

*3/10 - SUNDAY Communication (NASDAQ:SDAY) - Provider of wireless
communication and Internet services in Hong Kong.

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

REDBACK NETWORKS JUMPS NEARLY 10% AFTER ANNOUNCING STOCK SPLIT!
  Smart!Splits Readers Knew About it Beforehand!  Did you?

Didn't know that Redback Networks (Nasdaq:RBAK) was going to
announce a stock split yesterday?  Subscribers to the
Smart!Splits Report were informed of this possibility in last
week's report!

To find out about the next stock split that can enhance your
portfolio, visit: http://www.smartportfolio.com/freetrials
<A HREF="http://www.smartportfolio.com/freetrials">AOL users
click here</A>

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