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by 9/26/2000 2:49 PM
Stocks quoted in this article:
Sunoco (SUN 27-11/16) is the third-largest independent oil refiner in the world, according to Hoover's Online. The shares had been in a bit of a slump, declining 18 percent between their intraday high on September 15 and their intraday low yesterday. Today, however, the equity is enjoying a 7.5-percent boost following a brokerage upgrade. Shortly after the opening bell, Prudential upped its rating on the stock from an "accumulate" to a "strong buy."

The equity's boost has catapulted it back above its 20-day moving average, although it remains below its newly descending 10-day trendline. <

by 9/26/2000 2:47 PM
Stocks quoted in this article:
Research In Motion Limited (RIMM 98) manufactures telecommunications devices, such as its two-way email pager known as the BlackBerry. RIMM sells its products to manufactures and wireless dealers such as BellSouth and Panasonic. For the past four months, the stock has enjoyed an impressive ride higher, more than tripling in value since bottoming out around the 23 level in late May.

Yesterday and today combined, RIMM has surged about 25 percent. Monday's 11-percent rally was attributed to an upgrade on Wall Street, as a Piper Jaffray analyst boosted his 12-month price target on the stock to $90 from $75. Today's session has seen RIMM's strength continue, as the shares have posted a 14-percent gain in mid-afternoon trading. Option activity remains rather quiet on the equity. <

by 9/26/2000 2:46 PM
Stocks quoted in this article:
Dollar General (DG 17-3/16) is a discount retailer that operates nearly 5,000 stores in the Midwestern and Southern United States. The company aims to perch its stores in small towns that are ignored by the Wal-Mart Stores (WMT 47-3/16) of the world.

Today, DG has plunged considerably after an analyst at Goldman Sachs Group reduced her rating on the stock to a "market outperform" from a "recommend list." The stock gapped 1-15/16 points lower at the open and has not looked back. In mid-afternoon trading, the shares are off 2-3/4 points, or nearly 14 percent. By 2:00 p.m., over 2.7 million DG shares had changed hands. The average daily volume for DG over the past three months is 995,300 shares.

According to information from Zacks Online, there is room for further brokerage downgrades on the security. Presently, 18 analysts rate the stock, 16 of whom have named it a "buy" or better. Any more rating reductions would likely have negative repercussions for the shares. <

by 9/26/2000 12:32 PM
Stocks quoted in this article:
Watson Pharmaceuticals (WPI 62-5/8) received the final U.S. Food and Drug Administration approval for the generic version of the Ziac hypertension drug this morning. In response to this news, the stock moved more than one point higher, but it is now only fractionally in the black.

If the shares are able to finish on positive ground, it will represent their ninth consecutive winning trading day. Since its short-term intraday bottom on September 13, the security has advanced by just over 30 percent, climbing back above both its 10-day and 20-day moving averages. WPI remains above all of its key intermediate-term and long-term trendlines.

Not surprisingly, Schaeffer's put/call open interest ratio (SOIR) on WPI has decreased with its recent upward momentum. On September 13, the equity's SOIR was 1.89, which indicated that total put open interest exceeded total call open interest by 89 percent for options expiring within the next three months. The shares' SOIR is now 0.75. Please visit Schaeffer's Daily Sentiment for additional information about SOIR.


by 9/26/2000 12:26 PM
Stocks quoted in this article:
Emmis Communications (EMMS 22) has radio and television broadcasting and magazine publishing operations. EMMS is on the Nasdaq new lows list in early afternoon trading, as the equity has retreated by almost two points, or more than seven percent. The shares are now sitting at levels not seen since mid-May 1999.

The stock has lost over 65 percent of its value since its all-time highs from late December. EMMS is now perched beneath all of its significant moving averages, as its 20-month moving average is offering staunch overhead resistance this month.

Despite the security's technical weakness, it continues to be a favorite on the Street. Information from Zacks Online indicates that all 12 analysts now covering this laggard rate it as a "buy" or better. Any downgrades might add extra downside pressure to this underperformer over the short term.


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