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by 1/8/2001 2:07 PM
Stocks quoted in this article:
In the news today is hotel and gaming concern MGM Mirage (MGG – 29-1/8), which announced before the open that its fourth-quarter earnings numbers should total between 40 and 44 cents per share. This surpasses the Street estimate, which looked for the firm to earn 39 cents per share during the period. Last year for the same reporting period, MGG reported earnings of 36 cents per share. The shares are trading about two percent higher on the news.

Technically speaking, MGG recently pressed above short-term resistance at its 10-day and 20-day moving averages, trendlines that recently enjoyed a bullish crossover. From a longer-term perspective, the equity is now perched above its descending 10-week moving average. The stock has not managed a weekly close above this trendline since late September.
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by 1/8/2001 12:40 PM
Stocks quoted in this article:
As if sickening technical charts weren't enough evidence that online brokers are having a rough go of it, Ameritrade (AMTD – 8-1/16) announced plans today to lay off 330 workers. The company also announced that they expect first-quarter earnings expectations to fall short of analysts' expectations, which called for a loss of a nickel per share.

Other disconcerting news in the sector included J.P. Morgan Chase's (JPM - 48-3/4) Internet venture Morgan Online also announcing layoffs, as 150 employees will soon be handed their walking papers. AMTD is currently trading off 9.79 percent after hitting a new 52-week low today, while JPM is faring better, trading only 2.88 percent in the red.
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by 1/8/2001 12:09 PM
Stocks quoted in this article:
Drugstore.com (DSCM – 2-1/32) has jolted over 60 percent higher on extremely heavy volume today. Of course, this seemingly large percentage amounts to about a quarter of a point, bringing the stock above the $2-per-share level.

Since the online pharmaceutical retailer went public in July 1999 around the 70 mark, it has spiraled lower, despite reputable earnings numbers and increasing sales figures. Today's move to the upside followed news that the firm will likely report fourth-quarter sales of around $35 million. This marks a 90-percent increase compared to 1999 figures for the same time frame. Also, the website added 257,000 new customers during the final quarter for 2000.

On the earnings front, First Call expects the company to lose 55 cents per share for the fourth quarter, up from a loss of 96 cents per share last year. DSCM will announce its final financial results later this month.
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by 1/8/2001 11:59 AM
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In a statement just released, consumer giant Anheuser-Busch (BUD - 40-7/8) announced that it backs the targeted 15-percent earnings-per-share growth in the fourth quarter for 2000. In addition, the firm stated that it sees "solid trends" heading into 2001 and targets earnings-per-share growth for the coming year at 12 percent. After initially surging higher on the news, the equity moved back into negative territory. <
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by 1/8/2001 11:40 AM
Stocks quoted in this article:
The shares of e-business software provider BEA Systems (BEAS - 43-1/8) are taking a beating in late-morning trading. Overall, the equity is off nearly 20 percent after one brokerage firm trimmed its earnings estimates, while another slashed its price targets for the firm. On a technical note, today's sell-off moves the shares to their lowest level since August 2000. <
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