TSC Weekender: <I>TSC</I> Does Y2K, Qualcomm Cooks and the Nasdaq Steals the Show

Plus, Pulse looks at the most genteel businessman and Idiot Box reveals behind-the-scenes happenings for comet-like IPOs.
Author:
Publish date:

Why you say? Y2K! Waking up with a hangover and want to know if the flight you missed experienced delayed beverage service? Concerned about Jan. 1 computer glitches in Mauritius? Well, we're sure you can find that information in some of the hysterical news coverage going on this weekend. But to root out the important goings-on related to Y2K (yes, that's right -- ones that affect your

money

), check in with

TSC

. We're here all weekend, so drop us a line and let us know what you've seen happening where you are.

Qual-ity Merchandise

"It's not tied to fundamentals!" the

naysayers cried when

PaineWebber

analyst Walter Piecyk ran up his

Qualcomm

(QCOM) - Get Report

1000 price target flag Wednesday, along with a buy rating.

Still, everyone saluted. The stock vaulted up 156 points, or 31%, to end that day at 659 -- a 2,200% increase for the year. Thursday it

bobbed up and down, finishing down 11 15/16 to 647. Following the stock's 4-for-1 split prior to Friday's shortened session, Qualcomm's stock shot to 176 1/8 from 161 3/4.

Of course, since Merrill Lynch's Internet guru

Henry Blodget

set a 400 price target on

Amazon.com

(AMZN) - Get Report

, Wall Street has paid rapt attention to the

motivations for such a call. After all, it's whispered, who was talking about Piecyk last week? Whether Qualcomm summits the target or falls flat, you can bet they'll be talking about this call in the months to come.

The Nasdaq Composite: Better Than "Cats"?

For the past week investors have been musing, Wherefore art thou, N4K? It art-ed on Wednesday. With Qualcomm singing momentum poetry, the

Nasdaq Composite Index

soared, picking up speed to finish at 4041.46. (Applause.) Thursday brought with it a repeat performance, and a 4036.87 close, just shy of the record. Friday the old ham was at it again, ending the week at 4038.25, after which it retired to its dressing room to pop a bottle of Mumm Cordon Rouge and receive well-wishers. ("It's you -- my fans -- who make all this possible!" the Comp was overheard modestly demurring to a dowdy woman in a green felt hat.)

The critics consulted each other and tried to understand the performance. (See

TSC's

Nasdaq 4000 coverage.) And as the New Year begins, investors and experts are all wondering, will the show go on?

Staff reporters Thomas Lepri and George Mannes contributed to this article.