MORNING UPDATE: Man Securities Issues Alerts for NT, UCOMA, NSM,

                                   and TLCV

  CHICAGO, April 2 /PRNewswire/ -- Man Securities issues the following
Morning Update at 8:30 AM EST with new PriceWatch Alerts for key stocks. 
(Logo: ) 
  Before the open... PriceWatch Alerts for NT, UCOMA, NSM, SCHN, and TLCV,
Market Overview, Today's Economic Calendar, and the Quote Of The Day. 
"The jobs report is going to be very big.  We know how the market will
react to a negative number, but it'll be interesting to see how it reacts to a
positive number." 

    -- Michael Palazzi, managing director, SG Cowen Securities
      New PriceWatch Alerts for NT, UCOMA, NSM, SCHN, and TLCV...
    -- Nortel Networks Corp. (NYSE: NT)
       Last Price 6.12 - JUN 5.00 CALL OPTION@ $1.35 -> 4.8 % Return assigned*
    -- UnitedGlobalCom Inc. (Nasdaq: UCOMA)
       Last Price 8.11 - MAY 7.50 CALL OPTION@ $0.95 -> 4.7 % Return assigned*
    -- National Semiconductor Corp. (NYSE: NSM)
       Last Price 45.46 - MAY 45.00 CALL OPTION@ $3.20 -> 6.5 % Return
    -- Schnitzer Steel Industries Inc. (Nasdaq: SCHN)
       Last Price 32.12 - APR 30.00 CALL OPTION@ $3.60 -> 5.2 % Return
    -- TLC Vision Corp. (Nasdaq: TLCV)
       Last Price 12.00 - MAY 10.00 CALL OPTION@ $2.50 -> 5.3 % Return

  * To learn more about how to use these alerts and for our FREE report,
"The 18 Warning Signs That Tell You When To Dump A Stock", go to: 
  (Note: You may need to copy the link above into your browser then press
the [ENTER] key) 
  ** For the FREE report, "The Secrets of Smart Election Year Investing -
Insights, Stocks, And Strategies." go to: 
  NOTE: All stocks and options shown are examples only.  These are not
recommendations to buy or sell any security. 
Overseas markets are putting on a positive face, but appear hesitant to go
too far out on the "long" limb.  Currently 12 of the 15 markets that we track
are positive.  The cumulative average return on the group stands at a positive
0.381 percent.  A dis-inflationary trend remains intact in the Euro-Zone as
hinted by the February Producer Price Index for the region.  The February
index rose by just 0.1 percent on expectations for a 0.2 percent rise.  On a
year over year basis, the index was flat.  The strength in the euro was
mentioned as a contributing factor to the decline in producer prices and would
seem to put some pressure on the European Central Bank (ECB) to reduce
interest rates.  Recall that as of yesterday the governing body decided to
hold its key short-term rate at 2.0 percent. 
It will be all about the sore subject of employment today, with a totally
empty earnings calendar.  Before the open of the regular trading session,
March Non-Farm Payrolls will be released with expectations for the creation of
120,000 jobs.  February offered up a disappointing increase of just 21,000
jobs.  The companion report, March Unemployment Rate, is seen holding at 5.6
percent.  Now to get you up to speed, we revisit yesterday's release of the
weekly initial claims numbers.  The number of U.S. workers filing first-time
applications for unemployment benefits declined slightly in the week ending
March 27 by 3,000 to a seasonally adjusted 342,000.  The four-week average was
unchanged at 340,250.  Continuing claims climbed by 32,000 to 3,062,000.
According to research by Deutsche Bank, the volume of initial claims recently
has been a poor indicator of growth in non-farm payrolls.  From 1981 through
2000, weekly initial claims of 350,000 signaled a monthly increase of 250,000
in non-farm payrolls.  The four-week average of claims has held between
340,000 and 360,000 this year and job growth has remained disappointing at
best.  At this time I am not sure what non-farms number will appease the
market, but we certainly have a lot of catching up to do.  Deutsche Bank gave
us some historical perspective, so what do you think the expected 120,000 will
do?  If you are keeping a tally for the next report, add Gateway as reducing
some 2,500 positions and Sun Microsystems as planning to eliminate about 3,000
jobs.  Certainly these are just two companies, but this is not the direction
you would expect during an "economic recovery." 
Be prepared for the investing week ahead with Bernie Schaeffer's FREE
Monday Morning Outlook.  For more details and to sign up, go to: 
A busy week for the Wall Street fledglings this week, with seven IPO's
making their debut.  Several more are set to start trading publicly early this
month.  The Profit Hog team has identified one of the potential big winners in
Cutera -- a California-based medical device maker, debuting on the NASDAQ.
Cosmetic surgery is a lucrative business.  Last year, almost 8.3 million
people went under the surgeon's knife for everything from breast implants,
liposuction and face-lifts.  While the industry is one often associated with
Hollywood's rich and famous, ever-increasing numbers of ordinary people are
piling into cosmetic clinics across America in hopes of coming out a changed
person.  And when you think of how much publicity the industry gets on
television entertainment shows and reality shows, it's hardly surprising.  In
an age where good looks seem to be everything, it's a pretty safe bet that
this will continue to be a flourishing industry.  That's why Cutera has so
much upside potential.  Its cosmetic laser surgery devices helped the company
rake in $1.7 million in net income and $26.6 million in revenue in the first
three quarters of 2003.  Cutera was recently priced at $14 -- the low end of
its $14-$16 range.  Other IPO's to watch include NewAlliance Bancshares, JED
Oil, Marchex, and Immunicon. 
The Profit Hog's Christian DeHaemer has written a comprehensive FREE
report.  Read it immediately by following this link: 

    8:30 a.m.:  March Non-Farm Payrolls (seen at plus 120,000, last plus
    8:30 a.m.:  March Unemployment Rate (seen at 5.6 percent, last 5.6
    9:40 a.m.:  March ECRI Inflation Gauge (last 116.0).
    12:30 p.m.: Treasury Assistant Secretary Abernathy addresses home equity
                mortgage conference on mortgage standards in Boca Raton,

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  All stocks and options shown are examples only.  These are not
recommendations to buy or sell any security and they do not represent in any
way a positive or negative outlook for any security.  Potential returns do not
take into account your trade size, brokerage commissions or taxes which will
affect actual investment returns. Stocks and options involve risk and are not
suitable for all investors and investing in options carries substantial risk.
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SOURCE  Man Securities 

    -0-                             04/02/2004
    /CONTACT:  Michael Lavelle of Man Securities, +1-800-837-6212/
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CO:  Man Securities; Nortel Networks Corp.; UnitedGlobalCom Inc.; National 
 Semiconductor Corp.; Schnitzer Steel Industries Inc.; TLC Vision Corp.
ST:  Illinois
-0- Apr/02/2004 14:36 GMT
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