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by 3/27/2001 10:49 AM
Stocks quoted in this article:
Manugistics (MANU – 25-1/16) provides supply chain software to various businesses. The company announced fourth-quarter results last night that met analysts' expectations of five cents per share (excluding items). The company also issued a rosy outlook, claiming their business remains "robust." Earnings for this quarter are expected to come in at about three cents per share.

MANU shares traded up in after-hours activity, but are currently down slightly. It appears that someone has initiated a spread position in MANU options today by trading 350 each of the MANU May 25 call and May 17-1/2 put.
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by 3/27/2001 10:37 AM
Stocks quoted in this article:
Johnson & Johnson (JNJ – 80.66) reported early this morning plans to purchase drug research firm Alza (AZA – 37.96) in a $10.5 billion stock deal. JNJ will pay 0.49 shares for each AZA share, amount to a price of $41.84 per Alza share. Both boards have approved of the acquisition and are waiting on U.S. and European regulatory approval. The deal is expected to close in the third quarter of this year. JNJ lowered earnings forecasts to account for the merger.

The stock has gapped through support at the 85 level, falling more than five percent in trading. JNJ is now trading back around levels it has not seen in nearly a year. The April 80 call has been briskly trading, as more than 3,400 contracts have traded with an existing open interest of just over 400.
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by 3/27/2001 10:26 AM
Stocks quoted in this article:
The Consumer Confidence Index surprised analysts by showing its first gain in six months. The March number came in at 117.00, versus the current consensus expectation of 104.1. This marks a sharp rebound from last month's 8.9-point drop. The positive tally was attributed to a sharp increase in the Expectations component. This number surged from 70.7 last month to 83.6 for this period. The Present Situation number rose slightly, from 167.1 to 167.2.

The June 30-year bond futures contract tracked lower on the news (US/M1- 104'16), as the perception of an inter-meeting rate reduction by the Fed faded. Stock futures moved higher, but in an indecisive manner, as traders contemplate the potential impact of the report. <
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by 3/27/2001 10:01 AM
Stocks quoted in this article:
Honda Motor Company (HMC – 83.21) raised its sales projections for the current year due to rising sales in Japan, changes in model mix in North America, and a weaker yen. Sales for Japan's third-largest automaker grew 5.1 percent worldwide, while motorcycle sales grew 17.2 percent. However, HMC is expecting a loss in Europe as their cars, which are tailored to American tastes, fail to catch on. Sales are expected to drop 24 percent for the year. The stock moved higher yesterday to enjoy its first close above the 85 level since May 2000, but has weakened, giving up more than two percent so far in trading this morning.
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by 3/27/2001 10:00 AM
Stocks quoted in this article:
General Electric (GE – 40.98) is said to be selling its satellite-services unit to a European concern for about $5 billion. The boards of both companies have already agreed on the deal. GE has also boosted its stake in the Hungarian Budapest Bank to become a majority holder. GE shares are trading up about two percent on the news.
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