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Tuesday, 10/10/2000 12:07:34 AM

Tuesday, October 10, 2000 12:07:34 AM

Post# of 41875
And another two:

http://www.thestreet.com/_yahoo/markets/marketfeatures/1116144.html

http://www.fool.com/boringport/2000/boringport001009.htm?ref=yhoolnk


MARKET REPORT
************************************
U.S. stocks ended the day lower, knocked down by continued third-quarter
earnings woes. But tech stocks fared better than earlier in the day, as
bargain hunters set in to do some Columbus Day shopping.

Small cap stocks ended mixed with the Wilshire 1750 eking out a small 0.1%
rise, up 1.16 points, to 793.89. The Russell 2000 and the S&P 600,
meanwhile, never saw daylight. For the session, the Russell fell 1.49
points, or 0.3%, to 489.53, while S&P 600 lost 0.43, or 0.2%, to 206.14.

"The market continues to befuddle," said Daniel Peris, analyst for Argus
Research. Peris noted that Monday's market trend, which saw techs gaining
ground at midday after an early session bloodletting, was the reverse of
recent trading sessions.

Peris also said he feels the market is very near its nadir. "Contrarian
indicators are all in proper place to indicate a bottom," he said.

The day's light volume didn't help push the market upward. Investor fatigue
and light volume has a lot to do with what investors were seeing in the
market today, Peris said.

As third-quarter earnings season got underway on this Columbus Day holiday,
a handful of small cap issues released third-quarter earnings reports, only
substantiating investors' fears of weaker profits.

"People are very, very skeptical," about what they can expect from
corporate-earnings reports, said Steven DeSanctis, director of small cap
quantitative research at Prudential Securities.

DeSanctis noted that within the small cap sector he expects investor
hesitation to hang around a bit longer. While the number of companies
pre-announcing earnings warnings is higher, it isn't dramatic, he said.

Today's market action was also marked by thin trading because of the
Columbus Day holiday, which DeSanctis said may be spooking the markets
since prices tend to swing more wildly on days with light volume.

"Today, it happens to be in the wrong direction," DeSanctis said.

Semiconductor stocks, down nearly across the board in early going, turned
mixed. Big losers included Three-Five Systems Inc. (NYSE: TFS), down 9.9%;
SpeedFam-IPEC Inc. (NASDAQ: SFAM), off 9.5%; and Remec Inc. (NASDAQ: REMC),
down 7%.

On the positive side, shares of Brooks Automation Inc. (NASDAQ: BRKS)
vaulted 15.2%, while shares of Cymer Inc. (NASDAQ: CYMI) rocketed up 12.2%.
Emcore Corp. (NASDAQ: EMKR) gained 14.1% in Monday trading.

Electroglas Inc. (NASDAQ: EGLS), which manufactures micro chip quality
control devices, ended the day lower at 15 7/16, off 9/16, or 3.5%. The
company said it expects to report earnings of 49 cents to 52 cents a share
for the third quarter, short of a 59-cent First Call analyst estimate.

Two heavily watched tech bellwethers, the Nasdaq Composite Index and the
Philadelphia Semiconductor Index, were lower, but recovered from earlier
heavy losses. The Nasdaq, which suffered triple-digit losses in the early
going, ended the session at 3355.56, off 5.45, or 0.2%. The Philly index
trailed Friday's close by 13.43 points, or 1.7%, to 785.96.

Old-economy stocks, which sustained the Dow Jones Industrial Average early
on, gave way to a brief tech surge as shares of Hewlett Packard Co. (NYSE:
HWP) gained 3.8%, or 3 5/16, to 90 1/2, but finally turned south by the
close, driving the blue chip index into losing territory. The Dow ended
lower by 28.11, or 0.3%, to 10568.43, The broader S&P 500 finished at
1402.03, off 6.96, or 0.5%.

In commodities trading, November crude oil futures edged higher, gaining
$1.04, or 3.4%, to $31.90 a barrel. Futures prices moved higher on news of
the unrest in the Middle East, as well as an early cold snap in the
Northeast U.S.

November natural gas futures also rose, gaining 15 cents, or 3%, to $5.16,
while December gold was higher by 90 cents, or 0.3%, to $273.

The bond market was closed Monday for Columbus Day. With U.S. government
offices also closed for the holiday, no economic indicators were scheduled
for release. Later in the week look for figures on September producer price
index and retail sales report.

Canadian markets are closed in observance of the nation's Thanksgiving Day
holiday.

Among small-cap stocks moving Monday:

Calgon Carbon Corp. (NYSE: CCC), a maker of air- and water- filtration
products dropped 25.7% or 1 13/16 to 5 1/4 after warning 3rd quarter profit
would come in short of the 5 cents a share earned a year earlier. Calgon
Carbon was expected to earn 9 cents a share, the average First Call estimate.

Connetics Corp. (NASDAQ: CNCT), a pharmaceuticals maker plunged more than
79%, or 20 3/16, to 5 5/16 on a volume of 20.2 million shares, after it
and Britain's Calltech Group Plc said a late-stage study found no benefit
for relaxin, their experimental treatment for the skin condition
scleroderma, and is withdrawing their request for U.S. marketing approval
of the medicine.

Homeseekers.com (NASDAQ: HMSK), an Internet-delivered provider of real
estate information shed 68.5% of its value or 1 3/8, falling to 5/8 after
reporting a $1.47 a share loss in its fiscal year ended June 30, wider than
the 53-cent year ago loss, and also revised its results for the second and
third quarters.

Interspeed Inc. (NASDAQ: ISPD), a data communications product maker, lost
55%, falling 2 3/32 to 1 3/4 after warning its fiscal fourth-quarter loss
will be much wider than expected and announcing it plans to restate results
for the last three quarters. Its chief executive also stepped down and two
sales executives were fired.

TODAY'S TOP PERCENT GAINERS AT 6:53:23 P.M. ET
(Market Capitalization Between $10,000,000 and $750,000,000)
************************************
NASDAQ / OTC
*********************
Symbol Volume Close Change %Gain Company Name
SCIL 33600 7.00 2.50 55.56 Scientific Learning Corp.
TEPUF 158000 0.31 0.10 47.62 Trans-orient Petroleum
HMSR 77000 1.47 0.47 46.80 HemaSure Inc.
ELAW 437500 1.75 0.53 43.68 Internet Law Library Inc.
ZONE 146800 1.50 0.44 41.11 Omni Nutraceuticals, Inc.
AMEX
*********************
Symbol Volume Close Change %Gain Company Name
UAX 65200 1.25 0.63 100.00 Usurf America Inc.
DAY 22300 0.38 0.06 19.81 Dayton Mining Corporation
PNO 79600 3.81 0.56 17.32 N/A
WLB 78000 5.75 0.81 16.44 Westmoreland Coal Company
EXM 5400 1.88 0.25 15.38 Excel Maritime Carriers


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