In today's edition of the Daily Update, equity research columnist John
Filar Atwood discusses the new opportunities for wireless stocks in the
brave new "defensive" world headed up by Tom Ridge, secretary for
homeland defense.  Also today, eMarketer senior analyst Ben Macklin
explains which telecom sector offers the most hope for growth.

If you're interested in broadband technology, you might want to read
what Morgan Stanley has to say about Polycom (PLCM); sign up for the
firm's free research trial available only to Multex Investor members like
you.

You can link directly to our research page, which features synopses
of broker and free reports, and a link to the Morgan Stanley free research
trial, by clicking here:
http://www.multexinvestor.com/article.asp?docid=6126&nd=0121

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Below
--------

- Investment ideas
- Broker and third-party research
- Online advice and chats
- Free and sponsored reports


Investment ideas
-----------------------------------------

1. INVESTMENT IDEAS
Homeland defense may be catalyst for troubled wireless companies
Wireless stocks have tumbled in 2002, but $10 billion in national security
spending offers some long-term hope

by John Filar Atwood, equity research columnist

The news just keeps getting worse for wireless stocks. They have fallen
for three straight weeks amid reports from Verizon (VZ) and others that
subscriber growth is much slower than expected due to the struggling
economy.

The downward spiral continued after a few analysts recently downgraded
the entire sector. Without any positive developments to cling to, investor
pessimism appears to be feeding on itself. So far in 2002, the
Philadelphia Stock Exchange's wireless telecom index is off by 7.7
percent.
Click here to read more.
http://www.multexinvestor.com/article.asp?docid=6136&nd=0121


2. INVESTMENT IDEAS
Demanding times
While capital expenditures have ground to a halt, one sector offers hope

By Ben Macklin, senior analyst, eMarketer

Has the telecom sector "bottomed out?" This is a question many
investors and those associated with the industry would like answered.
Certainly the US telecom sector has experienced a significant downturn
over the last 18 months, with tens of thousands of job cuts and capital
spending slashed. According to Lehman Brothers, 2002 will see a 20
percent reduction in capital expenditure (capex) across the sector.
Internationally, Merrill Lynch estimates that capex will also
decline in the Asia/Pacific, Europe and, most especially, the Latin
American telecom sectors in 2002.
Click here to read more.
http://www.multexinvestor.com/article.asp?docid=6125&nd=0121


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Broker and third-party reports
-----------------------------------------


1. INVESTORS' CHOICE: 3-DAY FAVORITE
The 451 discusses Cisco's (CSCO) new focus on the mobile wireless
market.

This report examines IP infrastructure spending, the next-gen
Internet and network architecture layers, Cisco's strategic
alliances and mobile business customer targets, and advanced e-
services and content applications. (2-page report for purchase -
$5)
http://www.multexinvestor.com/download.asp?docid=5676705&nd=0121


2. TODAY'S SPECIAL REPORT
Lehman Brothers presents its case for investing in the biotech sector.

In the report, a sector overview, discussion of drug launches, potential
drug approvals, investment recommendations, risks, potential acquisition
targets, PEG valuation analysis, top picks (3 large cap, 4 mid-/small-
cap), 12 figures. (21-page report for purchase - $75)
http://www.multexinvestor.com/download.asp?docid=25976283&nd=0121


3. EDITOR'S PICK: CURRENT RESEARCH FROM THE CUTTING EDGE
Prudential explains why it expects hotel-oriented REITs to outperform in
2002.

Pru discusses how substantial it sees the recovery as being. It details
recent RevPAR trends, provides expectations through 2003, and
identifies three of its buy-rated stocks, one of them being MeriStar
Hospitality (MHX). (12-page report for purchase - $25)
http://www.multexinvestor.com/download.asp?docid=25978439&nd=0121


4. THIRD-PARTY REVIEW
Independent research firm The Motley Fool publishes its monthly report.

In its January issue, TMF reviews the surprising rebound in online
retailers, including discussion of AMZN and EBAY, profiles IMS Health
(RX), looks at the satellite radio space, and discusses its Foolish 8, with
a focus on Neogen (NEOG). (22-page report for purchase - $10)
http://www.multexinvestor.com/download.asp?docid=26025863&nd=0121


5. WHAT'S HOT?
Bear Stearns publishes a 'top ten list' of Internet security predictions for
2002.

After a page of general sector commentary, the firm discusses its list; #3
prediction calls for more sophisticated virus attacks, #6 prediction is that
the biometric hype fizzles, #10 predicts security vendor stocks that will
outperform. (4-page report for purchase - $10)
http://www.multexinvestor.com/download.asp?docid=25966746&nd=0121


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Multex's The Telecomm Analyst features daily telecommunications-industry
specific research highlights, investment ideas, analyst opinions, portfolio
strategies: http://www.multexinvestor.com/Analysts/HomeTTA.asp

To be sure you receive your TTA newsletter every week, click here:
http://www.multexinvestor.com/login.asp
==============================================================


Online advice and chats
-----------------------------------------


1. ASK THE ANALYST
PowerOptionsPlus.com's Victor Schiller discusses how to insure your
equity investments.

Schiller explains how option collars provide downside protection on stock
purchases. Most individuals wouldn't drive without auto insurance--can
you afford to invest without stock insurance? Ask him questions on this
subject through tonight, Mon., Jan. 21, 5 PM ET.
http://www.multexinvestor.com/AskTheAnalystForm.asp?&nd=0121

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Compare, Analyze, and Make Money On Option Investments...And it's
Guaranteed. Click here http://www.poweropt.com/mtx1


2. ASK THE EXPERT
Multex.com's Alan Cohn explains some of the ways
Americans will benefit from new tax laws.

Citing aspects of new tax rules relating to individuals
over 50, education, and estate taxes, Cohn shows
how a wide range of citizens will benefit. How do the
new laws affect you? He can take your questions until
Thurs., Jan. 24. Ask the expert.
http://www.multexinvestor.com/AskTheExpertForm.asp?&nd=0121


Free and sponsored reports
-----------------------------------------


1. FREE RESEARCH REPORT
Jefferies and Co. reports on the outlook for the oil drilling industry.

While maintaining a favorable long-term opinion on the group, the firm
does see a level of short-term uncertainty. It identifies a recovery
timeframe and 3 focus stocks. This 12-page report, which usually sells
for $25, is free to members for the next 72 hours.
http://www.multexinvestor.com/download.asp?docid=25968489&nd=0121


2. DAILY FREE SPONSOR REPORT
Morgan Stanley sets a $43 price target for broadband product maker
Polycom (PLCM).

The firm believes that PLCM will outperform its competitors and outlines
its valuation methodology and key investment positives and risks
associates with this stock. Register for the firm's free-research trial to
access research on this and other stocks.
http://www.multexinvestor.com/download.asp?docid=25095516&sid=8&nd=0121


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Be sure to check out our other newsletters, The Internet Analyst
and The Telecomm Analyst by Multex.com. The newsletters will
inform, educate, and entertain you with usable investment data,
ideas, experts, and info about the Internet and telecommunications
sectors. To see this week's issue,
click here:
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