> Nasdaq opened up and closed down... the Dow Industrials and the S&P fell
> all day long... Thur. was another sleepy, down - "lets wait and look at
> Friday's PPI #, kind of day".  Couple of stocks of note - MSFT*
> (Microsoft) down over 1 1/2 - to close at 68 13/16 - abit off the 72 level
> it hit post Judge Jackson's ruling - guess there are more prolems than
> people thought.
> Interestingly the Linux plays didn't run - RHAT (Red Hat Inc), LNUX (VA
> Linux Systems) and CORL (Corel Corp)all down.The Tide is out of P&G -
> again - PG (Procter & Gamble) pre-announced miss and was down over 5 - the
> CEO steps down - Crest-fallen.  T down 2 after they back-pedaled on the
> rate hike - keeping the ill will intact while losing the $. The financials
> came in on profit taking - JPM (JP Morgan) down over 3 1/2,  SCH (Charles
> Schwab) (down 5%), ALL (Allstate CP) down almost 4%, EGRP (E*Trade Group)
> down over 6 1/2%, DLJ (Donaldson Lufkin & Jenrette) down over 2 1/2%.....
> The chips were up with analyst upgrades on AMD (Advanced Micro Devices)
> (up over 1 1/2) and ATML (Atmel Corp) (up over 2) - INTC (Intel Corp) up
> over 1.  HWP (Hewlett-Packard) continues it's climb up over 3, QCOM
> (Qualcomm Inc)up over 4 after the announcement of deal with a # of Chinese
> companies. In the CEUT Universe: EBAY* (EBAY Inc) down almost 4... BWAY*
> (Breakaway Solutions) up over 8 1/2, INIT* (Interliant Inc) up over 1...
> ITWO* (I2 Technologies) down over 3.... AMCC* (Applied Micro Circuits) up
> almost 5 as was KOPN* (Kopin Corp), PMCS* (PMC Sierra Corp) up over 6 1/2,
> SSTI* (Silicon Storage) down over 3....NTAP* (Network Appliance) up over
> 7, PRCM* (Procom Technologies Inc) up over 3....
> RIMM* (Research In Motion) up over 2, IIIM* (I3 Mobile Inc) (still on a
> tear) up over 2 1/2... BMCS* (BMC Software) down over 2 1/2,  MERQ*
> (Mercury Interactive) up over 12...TMPW* (TMP Worldwide) down over 4
> 1/2.... GMH* (General Motors H) up over 3,GILTF* (Gilat Satellite) up over
> 2 1/2, SPOT* (PanAm Sat) down over 2... JBL* (Jabil Circuit) up 2.... In
> IPOland: Community Health Systemes (CYH)- acute healthcare services -
> priced at low end. Friday is the PPI at 8:30AM expected - core up 0.1% and
> reg up 0.2%
>
> T - flip flop - yes we are going to raise long distance rates after all
> (not winning any hearts or minds with this news).
>
> Arrow Elect, Avnet and Brit. firm Shroders to buy electronic unit of
> German co. Veba.
>
> Earthlink buying Onemain.com.
>
> 3 Private phone co.s (in MA,VA and FLA) are joining to form east coast
> phone company Elantic Comm.
>
> Delphi Automotive - joining auto exchange Covisint.
>
> National Semi - beat #.
>
> Inktomi - buying Go.com's Ultraseek Web search division.
>
> New Computer virus - hides in film clip attachment - turns your computer
> into hacker platform.
>
> Siemens - US expansion - new cell phone coming?
>
> KPN - yes we're still interested in Telefonica.
>
> Corel - 21% workforce cut.
>
> Quokka Sports - acquires golf.com
>
> Durlacher - high profile English tech banking boutique - we wanna be
> bought by someone.
>
> France Telecom leads group buying stake in Polish phone co.
>
> FCC - wireless medical devices getting part of radio spectrum
>
> Grupo Prisa - large Spainish media co. - stake being floated on Madrid
> exchange Monday.
>
> Onepipeline.com - $17 million second round - loan tech for real estate and
> mortgage businesses.
>
> Car makers extend benifits to gay couples.
>
> TV - Survivors beat Who Want to be Millionaire in ratings.
>
> SNE - eMarker - keychain device "bookmarks" songs from radio then you go
> to your PC and order it - coming next month.
>
> HWP - upgrade on UNIX servers.
>
> SCH - expanding into fixed income offerings in deal with Valubond.com.
>
> Tivo team with iFilm for interactive short film program Tivo Takes (hosted
> by CNET reporter).
>
> Wavexpress.com - ecommerce data casting services - adds transaction
> component to iBlast and Geocast like service.
>
> ITWO's purchase of Aspect Dev. gets shareholder approval.
>
> Adaptec - spinning off software business.
>
> CollegeClub.com - site for college kids - delays IPO due to market
> conditions.
>
> TRRA - shareholders approve Lycos deal.
>
> Archipelago - ECN backed by big boys - GS, Reuters, MER, JP Morgan,
> EGRP.... wants to be stock exchange - not waiting for approval to trade
> NYSE stocks - already advertising itself as the next exchange.
>
> WSJ Heard - LEH and Fidelity - close and getting closer - merger coming?
>
> Smart Money - Red Oak Tech fund managers - sold DELL* added BRCD*, PMCS*
>
> C.E. Unterberg Towbin: TTIL marketing Phil/Balt.... William Kidd in CT.
>
> 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
>
>
>
>

----------------------------------------------------------------
Pursuant to SEC and NASD requirements, all incoming and outgoing e-mail of 
C.E. Unterberg, Towbin is subject to review by the Compliance Department.

Please note that C.E. Unterberg, Towbin does not allow the use of e-mail to 
request, authorize or  effect the purchase or sale of any security, to send 
fund transfer instructions, or to effect any other transactions.  Any such 
request, orders or instructions that you send will not be accepted and will 
not be processed.

================================================================