| To: E.J. Neitz Jr who wrote (373) | 4/22/2000 7:52:00 PM | | From: Larry Levine | | | |
I use their streaming quotes and like it a lot. They've had problems with the data feed and both times credited me the 25$ monthly fee, even though the problems only lasted a couple of days. As for executions between the spread, I've
had about 10-15% of my limit orders go off at a better price than I asked for, so it can happen. Since I never buy more than 1K shares, the extra cost doesn't matter, and you can actually get a helpful person on the phone if you call at a good time or are very patient. They've credited me a couple of times when I complained about something. But the best reason to use them is the Marketspeed software. |
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| To: Larry Levine who wrote (380) | 4/23/2000 1:55:00 PM | | From: E.J. Neitz Jr | | | | |
Larry- Thank you for your comments. I am a DLJ client and was considering their streaming quotes. For the past 10 years I used Signal cable box real time quote service. The cable delivery was no longer able to handle the trade volume, hence the data delivery was much less than real time. I am still considering DLJ streamer, but recently I have been using the free real time quote service (free) from A.B. Watley. It saves me the $25 (DLJ) and gives me level II, all free. So far it has been reliable, but suspect, I will need a back-up and DLJ makes sense, at their price. Ed |
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| To: E.J. Neitz Jr who wrote (373) | 4/23/2000 7:07:00 PM | | From: Techplayer | | | |
Edward, Aside from the glitches that DLJ was having back in March, I have been very happy with the streaming portfolios. DLJ did reimburse me for 2 months of faulty service as well. The free research, afterhours trading (a bit weak) and real time static and streaming portfolios makes it worth while for the most part.
tp |
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| To: Techplayer who wrote (382) | 5/3/2000 11:43:00 AM | | From: Susan G | | | | |
HORRENDOUS. That's all I can say about the DLJDirect website this week. Sorry this page is unavailable right now. Please try again later</b? NOT. I've moved my entire trading account and am THRILLED with my new broker. |
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| To: Susan G who wrote (383) | 5/3/2000 9:16:00 PM | | From: Susan G | | | | |
OK, some good news to report now...DLJDirect personally called all "frequent" or high volume traders today to give them another toll free number which will be easier to get through on when you need to get through quickly. Now THIS is quite an improvement. |
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| To: PAFOOFNICK who wrote (385) | 8/29/2000 5:04:59 PM | | From: Susan G | | | | Wow, nice move. Could continue tomorrow it looks like. Missed it totally as I don't follow the stock anymore, and I had cnbc on mute all day <g>
I traded the stock back when it was in the 30s for a nice gain. |
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| To: Susan G who wrote (386) | 8/29/2000 7:29:44 PM | | From: solstice | | | | DLJ to be bought out?
Buying Strength: DLJ a Tempting Target
By Dan Colarusso
Associate Editor
8/29/00 7:11 PM ET
If Donaldson Lufkin & Jenrette (DLJ:NYSE - news) does strike a deal to be acquired, its new owner will get a firm that has spread itself into many of Wall Street's most lucrative businesses.
The takeover action on Wall Street recently has been focused on firms with lots of brokers catering to retail investors, namely UBS' (UBS:NYSE ADR - news) July agreement to acquire PaineWebber (PWJ:NYSE - news).
But DLJ, which is reportedly in talks to be acquired, has become a force in several areas. It's the seventh-largest U.S. investment bank, one of the largest trade execution and clearing firms and the seventh-largest online brokerage. It also has about 500 brokers servicing wealthy individual investors. What it lacks, however, is a huge asset-management business that generates a steady stream of fee revenue to offset the more cyclical investment banking and trading businesses.
Still, DLJ's majority shareholder, AXA Financial (AXF:NYSE ADR - news) of France, is reportedly soliciting bids for the firm and getting a strong response. AXA, the world's largest insurance company, owns about 70% of DLJ.
DLJ and AXA didn't return calls seeking comments.
It's unclear what a buyer would pay for DLJ, though CNBC reported it would fetch $90 a share. UBS is paying about 18 times PaineWebber's estimated earnings this year. Trading at $86.50, up 31%, or $20.94, Tuesday, DLJ already is near that level, so there may be limited upside potential from here.
"Typically, you see stronger firms buying somewhat weaker ones, but in the case of DLJ, it's a strong firm that's getting acquired," says one Wall Street veteran.
"DLJ has chosen its business spots extremely well, and then executed its plans well," says money manager Michael Holland, who doesn't hold shares of DLJ in his Holland Balanced fund. "You tend to think that when DLJ decides to partner up with someone -- knowing its history -- the firm will do something smart."
Among the rumored suitors are Credit Suisse First Boston and Lehman Brothers (LEH:NYSE - news). Credit Suisse First Boston and Lehman declined to comment.
CS First Boston ranks fourth among U.S. equity underwriters, according to CommScan Equidesk, but an acquisition of DLJ would make it bigger and more diverse. It's best known for its technology investment-banking franchise, a unit which, under the guidance of Frank Quattrone, has become a Silicon Valley force.
CS First Boston and many other investment-banking firms also are on the hunt to add low-cost distribution to individual investors to their mixes. The combination of DLJ unit DLJDirect's (DIR:NYSE - news) online business and DLJ's boutique brokerage, which caters to wealthy individuals, could be a pipeline through which an investment bank could pump valuable initial public offering business.
Meanwhile, the specter of DLJ being acquired is likely to add even more fuel to the sector's M&A bonfire. Lehman and Bear Stearns (BSC:NYSE - news) have been among the most talked-about targets.
Both firms are similar in makeup to DLJ, although with a market cap of $17 billion Lehman is considerably larger. DLJ's market cap is about $12 billion, while Bear's is just under $7 billion. The stocks have run up considerably. Lehman shares have risen about 60% since May 1, while Bear's stock has popped about 40% since then. With Tuesday's performance, DLJ shares have almost doubled in that period.
Not everyone's sold. Goldman Sachs brokerage analyst Richard Strauss warned in a report last week that investors should "avoid the takeout trap -- which in this category typically is a dud."
Well, maybe not this time.
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| To: Susan G who wrote (386) | 8/29/2000 9:18:50 PM | | From: PAFOOFNICK | | | | | Im glad you got out at thirty, I sold some and am in for a free ride, but the ride has been hectic. Im curious if this will be more of a spike than the original ipo. ? |
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