You Deserve A Break Today

June 28, 2001
Marc Dupee

Microsoft
(
MSFT |
Quote |
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PowerRating) appears to have gotten a break
today when an appeals court overturned a district court ruling that the software
giant should be split into two companies. Shares of Microsoft rallied for
approximately 10 minutes after news of the appeals court decision hit newswires
before trading in the stock was halted.

But the fate of the antitrust trial against the world’s
biggest software maker is still uncertain. Voting unanimously, the seven-judge
panel ordered a new round of hearings to decide how to stop Microsoft from using
monopoly power to assert dominance in its Windows operating systems. The panel
also said that the Thomas Penfield Jackson, the US District Judge presiding over
the case, used “serious judicial misconduct” in handling the case.
Penfield was extensively interviewed by the New York Times during the trial and
made comments that “question(ed) his impartiality.” MSFT is up 1.36 at
72.50.

The Nasdaq is up 69.25 at 2143.99, the S&P 500 is up
20.56 at 1231.63, and the Dow is up 181 at 10,616.

Blue chips — stocks that are more sensitive to interest
rate changes than tech — are benefiting from the Fed’s sixth short-term
interest rate cut to 3.75%.

Finally, in the chip area, two days ago on TradersWire we pointed out that Genesis Microchip’s
(
GNSS |
Quote |
Chart |
News |
PowerRating) combined daily and intraday charts set this up for a test of all-time highs.
The stock closed on June 26 at 33.55. GNSS is up 3.50 today at 37.75, trading at
a new all-time high.

You Deserve A Break Today

BUY THE FEAR, SELL THE GREED

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