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LOL! Democrats choose Akamai for coverage. Stock price drops

by James Denison / July 19, 2004 2:34 AM PDT

So far AKAM has lost over 7 and half percent of it's stock value today.

===========================
Last Trade: 13.53
Trade Time: 12:11PM
Change: Down 1.11 (7.58%)
==============================

http://biz.yahoo.com/prnews/040719/dcm027_1.html

Democrats Select Akamai as Official Streaming Media Provider for the 2004 Democratic National Convention
Monday July 19, 11:19 am ET
Akamai Will Provide Gavel-to-Gavel Streaming Coverage During Four-Day Convention in Boston


The Democratic National Convention Committee (DNCC) today announced that Cambridge-based Akamai Technologies, Inc. (Nasdaq: AKAM - News), the global leader of distributed computing solutions and services, has been named the official streaming media provider of the 2004 Democratic National Convention. Akamai, also the official streaming media provider for the 2000 Democratic Convention in Los Angeles, will provide gavel-to-gavel streaming coverage during the four-day convention, occurring July 26-29 in Boston.
(more at link)

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(NT) (NT) Re: Along with many others
by Mary Kay / July 19, 2004 3:00 AM PDT
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Hmmmm......read the article but......
by Josh K / July 19, 2004 3:03 AM PDT

....I didn't see anything saying that the stock price dropped as a result of the Democrats' announcement.

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(NT) (NT) Requires analysis
by James Denison / July 19, 2004 3:10 AM PDT
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...which should have been made before any assumptions....
by Josh K / July 19, 2004 3:23 AM PDT
In reply to: (NT) Requires analysis

...were posted.

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Trust me, I did, I'm trying...
by James Denison / July 19, 2004 3:41 AM PDT

...to get some of that AKAM stock today at a bargain rate, and hoping the Democrats will give yet another press release. My strike price is set at 13, so I need all the help the Dems can give me today. See, I can appreciate Democrats doing things for the people too...

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Re: Trust me, I did, I'm trying...
by Josh K / July 19, 2004 3:56 AM PDT

You still have not established any connection between the Democrats using this company and its stock dropping, as much as you might like to think they're related.

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Stock Prices Dropped Due To Poor Earnings Reports...
by Blake Cook / July 19, 2004 3:42 AM PDT

Of course it's more fun to make people believe the Democrats had something to do with it. This really is just a sign of just how sluggish the economy really is...

Technology Stocks Move Lower at Early Afternoon

NEW YORK -- Technology stocks turned lower Monday as Wall Street braced for another week of earnings news. A disappointing outlook weighed on Lexmark International, while investors sold shares of eBay and Amazon.com ahead of their reports, due later this week.

In early afternoon trading, the Nasdaq Composite Index was down 9.50, or 0.5%, to 1873.70, while Morgan Stanley's high-tech index shed 2.80 to 437.30 and the Nasdaq 100 Index of nonfinancial stocks lost 2.60 to 1389.60.

Among some widely held tech stocks, shares of Microsoft added 28 cents to $ 27.76, while Intel rose 14 cents to $22.87, both on the Nasdaq Stock Market. Shares of International Business Machines gained 97 cents to $85.25 on the New York Stock Exchange.

After chugging ahead for short time at the opening bell, tech shares lost steam by midday Monday as investors, still reeling from last week's stream of disappointing news that included unfavorable outlooks from Intel and cellphone maker Nokia, decided to remain cautious as earnings continue to unfold this week. The Nasdaq composite fell 3.2% over the course of last week, hitting its lowest close in two months.

More...

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heh, heh, heh,...
by James Denison / July 19, 2004 3:54 AM PDT

maybe that's all there is to it. Keep repeating to yourself... "The Democrats don't make stocks go down".

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GW Is Running Out Of Gimmicks...
by Blake Cook / July 19, 2004 4:11 AM PDT
In reply to: heh, heh, heh,...
maybe that's all there is to it. Keep repeating to yourself... "The Democrats don't make stocks go down". - James Denison

And now that we have huge Federal budget deficits, an expensive and never ending war in two countries, interest rates that can't go any lower, no chance of more tax breaks to the wealthy, and energy prices at a peak and possibly going higher, GW is running out of gimmicks to help him look good in November. The Democrats didn't make this mess, as you would hope others would believe...
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If it's gimmicks, he's...
by James Denison / July 19, 2004 7:18 AM PDT

.... still doing better with them than the one's Jimmy Carter tried between 1976-1980. Gosh, I hope we don't face THOSE kind of gimmicks again after November. Just remembering, I'll probably have nightmares about gas lines again tonight....

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Ummm, it seems that the deficit is dropping sharply due
by Kiddpeat / July 19, 2004 11:48 AM PDT

to rapidly increasing tax revenues, and I don't see energy prices going anywhere. Tooo bad! I know Kerry/Edwards were hoping that the American people would suffer big time in the period leading up to Kerry's inaugeration.

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U.S. Deficit Could Sideswipe Canada...
by Blake Cook / July 19, 2004 2:41 PM PDT
Ummm, it seems that the deficit is dropping sharply due to rapidly increasing tax revenues - Kiddpeat

Sometimes comments are made here in SE which just leave me scratching my head wondering how someone could come up with this stuff. Your comment above is a perfect example...

I'm providing the following, which discusses how our record high deficits could hurt Canada. The deficit is not dropping sharply as you stated above, but it is setting all time new record highs which could adversely affect us all...

U.S. deficit could sideswipe Canada

The massive U.S. budget deficit — expected to be $500-billion (U.S.) this year — gets a lot of attention, in part because it's a useful stick with which to bash U.S. President George W. Bush.

But the deficit that has many economists increasingly worried is the even bigger — and rapidly growing — U.S. current account deficit. It hit a record $145-billion in the first quarter and is expected to reach a record $600-billion or more this year. That's equivalent to more than 5 per cent of U.S. gross domestic product.

It's a growing problem that could not only sideswipe the U.S. economy, but the global economy — and Canada could be a prime victim.

More...
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Re: How bout this Iraqi Stock James
by Rolway / July 19, 2004 4:29 AM PDT
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More Risk than I'm willing to accept.
by James Denison / July 19, 2004 4:40 AM PDT

It's something to keep in mind however if Vanguard, Barclay or some other group opens an ETF (equity traded fund) on the Iraqi's stock market index. Even that might be more risk than I'd want to take at this time though. I love this last part of that article.

PS - I just got a confirm on AKAM. Had to up my price to 14.00, but got some of it. I guess now I'll be accused of helping the Democrats. Actually, they helped me today. Heading for the Tums bottle again...

"Don't forget that Iraq is a tourist country. There's plenty to see here," said Muhammad Ismael, a broker with Qidwa Securities. As the sound of gunfire reverberated in the distance, he shrugged. "I guess it will take a little more time for them to come."

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Re: More Risk than I'm willing to accept.
by Dan McC / July 19, 2004 4:43 AM PDT

I hear that Club Med is opening a resort there soon.

I can't wait!

Dan

.

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(NT) (NT) You are joking, yes?
by James Denison / July 19, 2004 4:49 AM PDT
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(NT) (NT) I never joke about Club Med
by Dan McC / July 19, 2004 11:55 PM PDT
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Did the Democrats kill the whole stock market today?!
by James Denison / July 21, 2004 10:44 AM PDT

After today's stock market fire sale, that Iraq suggestion is looking a whole lot better, LOL!

A lot of people lost a lot of money today. I don't trade on margin, so not hurting like those who do, I can wait it out.

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