Schaeffer's Options Center
Sponsored by:
Schaeffer's Daily Option Blog

by 4/3/2001 9:35 AM
Stocks quoted in this article:
Xerox (XRX 5.50) announced late Monday that it will delay filing its annual report with federal regulators as it completes its internal investigation of the company's accounting practices. The review started last week at the request of board members after a investigation by the SEC became known. The company acknowledged irregularities in Mexico, but said that the accounting problems are not widespread.

The stock ran into resistance yesterday at the six level. This area had provided resistance to the shares in the past and continues to hold up. XRX gapped lower this morning by nearly 50 cents and is down by more than eight percent. Presently, the security is clinging to support at the 5.50 level.


permalink


by 4/3/2001 9:28 AM
Stocks quoted in this article:
National Instruments (NATI 31-5/8) warned late yesterday that is expects first-quarter revenue to come in at $108 million, versus Street estimates of $112 million for the quarter. The instrumentation hardware and graphical software company attributes the earnings shortfall to the overall slowdown of the economy. Excluding the foreign exchange loss, NATI expects 27 to 29 cents per share for the quarter and 25 to 27 cents per share including the foreign exchange loss. Analysts' anticipated earnings of 29 cents per share.

Monday's trading was once again capped by its declining 10-day moving average. The stock has not had a close above this short-term trendline since March 5. NATI lost more than six percent in trading yesterday in anticipation of the earnings release. <
permalink


by 4/3/2001 9:21 AM
Stocks quoted in this article:
Earnings warnings flooded the market yesterday after the closing bell. Redback Networks (RBAK 11.70) was one of many that announced it would miss first-quarter expectations. The networking and fiber optic technology provider announced that is anticipates revenue for the quarter to come in at $85 to $90 million. RBAK said it will record a first-quarter restructuring-related charge of $27 million over the next two quarters. A charge of $24 million from excess inventory is expected as well for the quarter. The company is currently moving to cut 150 jobs or 12 percent of its workforce.

The shares continue to follow their 10-day and 20-day moving averages lower. RBAK has not had a close above these trendlines since February 5. In addition, the stock fell below potential put support at the 12.5 level. Home to more than 4,500 contracts, 12.5 is the site of peak front-month put open interest.
permalink


by 4/3/2001 9:18 AM
Stocks quoted in this article:
French telecommunications maker, Alcatel (ALA 29.00) said it will cut about 1,100 jobs here in the United States, which is about five percent of its workforce. ALA cited slowing demand here in the States. The news put pressure on European telecom shares on the foreign exchanges overnight. <
permalink

by 4/3/2001 9:15 AM
Stocks quoted in this article:
Concord EFS (CEFT - 41), a provider of electronic commerce, announced the elimination of 250 jobs last week, equal to 10 percent of its work force. The shares paid the price in Friday's trading, losing over 10 percent of its value on unusually heavy volume. Over 44 million shares changed hands last Friday, far eclipsing the previous daily volume total this year of nearly seven million shares on March 27. The security's decline has taken the stock back to potential support at its 10-month moving average.

Yesterday, the June 45 call saw heavy volume. Over 12,600 contracts changed hands, with most of the volume comprised of large block trades that transacted in the final hour of trading. Open interest rose by nearly 11,600 contracts in response to Monday's volume.
permalink


Featured Brokers
ADVERTISEMENT
Unusual Option Volume
Option Flow
ADVERTISEMENT
ADVERTISEMENT
Most Active Stocks
Most Active Option Strikes
Largest Open Interest

Partner Center

© 2015 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: service@sir-inc.com

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.