From today's edition of the Daily Update, you can download
the latest research and analyst commentary on AT&T's (T)
restructuring plan, the asset management industry, picking
stocks in the IT services arena, grown-up biotechnology
stocks, and much more.

For free research, editor's picks, and more come to the Daily Investor:
http://www.multexinvestor.com/magazinecover.asp?nd=0523#investor
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Featured in today's edition of the Daily Update:

1. TODAY'S SPECIAL REPORT: Lehman Bros. attempts to put mutual fund flows
in a "factual perspective" by dispelling myths.

2. FREE RESEARCH REPORT: Robert W. Baird & Co. provides the keys to
picking stocks in the IT services arena.

3. ASK THE ANALYST: Morgan Stanley's Andrew Conway discusses the
strongest global beverage brands.

4. INDEPENDENT'S INVESTMENT REVIEW: The Motley Fool examines
biotechnology stocks that have come of age.

5. PERSONAL FINANCE'S ASK THE EXPERT: Alan and Stephen Cohn, certified
financial planners and founders of Sage Online

6. INVESTORS' CHOICE: 3-DAY FAVORITE: Friedman, Billings, Ramsey & Co.
offers a long-term perspective on "far-sighted" large-cap IT companies.

7. HOT REPORT: CIBC World Markets makes its recommendations on AT&T's (T)
wireless-exchange offer.

8. EDITOR'S PICK: Bear Stearns & Co. scrutinizes opportunities in the
U.S. national wireless industry.

9. SPONSOR'S "STRONG BUY" SPOTLIGHT: Morgan Stanley reiterated "strong
buys" on numerous semiconductor issues

10. CHATTING UP WALL STREET GURUS: Neil George, consulting adviser with
Money Growth Institute

11. MESSAGE BOARDS: Bridgeway fund manager John Montgomery finds a gem
amid the ruins of the Internet sector. Find out why he likes Register.com
(RCOM).

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1. TODAY'S SPECIAL REPORT
Focus on the asset management industry -- Lehman Bros. attempts to put
mutual fund flows in a "factual perspective" by dispelling myths.

View the trends and challenges brokers and money managers face. Look at
valuation and fund flows for the likes of Charles Schwab (SCH), Merrill
Lynch (MER), Morgan Stanley (MWD), Goldman Sachs (GS), and others (22-page
report for purchase - $75).
Click here.
http://www.multexinvestor.com/download.asp?docid=20596839&nd=0523


2. FREE RESEARCH REPORT
Information technology services -- Robert W. Baird & Co. provides the keys
to picking stocks in the IT services arena.

"A healthy balance sheet and cash flow from operations, strong recurring
revenue and the ability to sell projects on a business case justified
basis," the firm says about its four stock picks. This report is free for
a limited time.
Click here.
http://www.multexinvestor.com/magazinecover.asp?nd=0523#investor


3. TODAY IN THE ANALYST CORNER
Wet your whistle with these stocks -- Morgan Stanley's Andrew Conway
explains.

Conway takes a look at the strongest brands in the global beverage
industry. Which companies does he recommend investors quench their thirst
with long term? Ask the analyst.

Gain free access to Morgan Stanley's research for 30 days. Simply register
and submit a question. Conway will be in the Analyst Corner only until 5
p.m. ET Wed., May 23, so ask your question now.
Click here.
http://www.multexinvestor.com/ACHome.asp?nd=0523


4. INDEPENDENT'S INVESTMENT REVIEW
First-generation biotechs come of age -- The Motley Fool "Select" report
features a group that still attracts attention despite high prices.

In addition to the large-cap biotech feature, the authors examine one
favorite to please biotech contrarians. They also highlight the leader of
the pack of decimated telecom stocks, and a small-cap favorite (26-page
report for purchase - $10).
Click here.
http://www.multexinvestor.com/download.asp?docid=20678241&nd=0523


5. PERSONAL FINANCE'S ASK THE EXPERT
Alan and Stephen Cohn, certified financial planners and founders of Sage
Online

Being prepared for both the ups and downs of the market will not only be
profitable but give you greater peace of mind. The Cohns are available to
answer investors' queries until Sun., Jun 3. Ask the Expert, now.
Click here.
http://multexpf.com/asktheexpert.asp?target=/personalfinance/asktheexpert/home&nd=0523

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6. INVESTORS' CHOICE: 3-DAY FAVORITE
What's ahead for technology in 2003 to 2004 -- Friedman, Billings, Ramsey
& Co. offers a long-term perspective on "far-sighted" IT companies.

The firm presents a large-cap valuation analysis on IBM (IBM), Cisco
(CSCO), Dell (DELL), EMC (EMC), Hewlett-Packard (HWP), Intel (INTC),
Microsoft (MSFT), Oracle (ORCL), WorldCom (WCOM), and five others (4-page
report for purchase - $10).
Click here.
http://www.multexinvestor.com/download.asp?docid=20541266&nd=0523


7. WHAT'S HOT?
AT&T's (T) restructuring plan -- CIBC World Markets makes its
recommendations on T's wireless-exchange offer.

The firm provides shareholders with a restructuring time table, a
valuation of T shares along with the firm's price target, and an
explanation of how the AT&T Wireless (AWE) stock offer impacts holders of
T (4-page report for purchase - $10).
Click here.
http://www.multexinvestor.com/download.asp?docid=20538997&nd=0523


8. EDITOR'S PICK: CURRENT RESEARCH FROM THE CUTTING EDGE
Wireless telephony from sea to shining sea -- Bear Stearns & Co.
scrutinizes opportunities in the U.S. national wireless industry.

Analysts say that wireless' fundamentals remain intact, despite concerns
about subscriber growth and average revenue per use, and say there are
"two major growth opportunities" not yet priced into the industry (182-page
report for purchase - $300).
Click here.
http://www.multexinvestor.com/download.asp?docid=20608134&nd=0523


9. SPONSOR'S "STRONG BUY" SPOTLIGHT
More than a third of the list -- Morgan Stanley continued its rallying on
behalf of semiconductor stocks.

While endorsing a number of wireless-service providers, biotechnology
manufacturers, energy suppliers, real estate companies, and employee
recruiters last week, semiconductor stocks again received the most "strong
buy" endorsements from the firm.
Click here.
http://www.multexinvestor.com/magazine.asp?ref=msdw20010523.html&nd=0523


10. CHATTING UP WALL STREET'S GURUS
Neil George, consulting adviser with Money Growth Institute

In a SageOnline transcript from an AOL MarketTalk appearance, George
opines regarding Vivendi Universal's (V) proposed acquisition of MP3.com
(MPPP), Advanced Micro Devices (AMD), Intel (INTC), and energy and
financial stocks.
Click here.
http://multexinvestor.sageonline.com/transcript.asp?id=15322&nd=0523


11. MESSAGE BOARDS
Up from the ashes

Bridgeway fund manager John Montgomery finds a gem amid the ruins of the
Internet sector. Find out why he likes Register.com (RCOM).
Click here.
http://multexinvestor.sageonline.com/page.asp?id=2904&ps=1&s=3&nd=0523

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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:
http://www.theinternetanalyst.com or
http://www.thetelecommanalyst.com