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by 1/12/2000 8:02 AM
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The CBOE 30-Year Treasury Bond Interest Rate Index (TYX - 66.77), which tracks the yield on the long bond, is rapidly approaching the 67.13 level which was set in late August, 1997. As we noted in previous Market Bytes, the 67 area could act as resistance on a technical basis. However, the 72 area could be the next stop if the former 67 level is taken out. The 72 area was the high point in September 1996 and August 1997 and should offer some stiff resistance. According to Consensus Inc. of Kansas City, bond bulls are loathe to call for lower yields with a mere 18 percent of those polled having a bullish bias.<
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by 1/12/2000 7:51 AM
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Early indications are that Yahoo! (YHOO - 397-3/8) has not cleared the expectational bar in investors' minds after reporting earnings. The company beat estimates of 15 cents per share by four cents per share after the close and declared a 2-for-1 stock split. However, the company's financial chief said that the current rate of growth is unsustainable, which the forward-looking Street is more focused on. According to news sources, the stock is down about 16 in pre-open trading.<
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by 1/11/2000 5:15 PM
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Yahoo! (YHOO - 397-3/8) beat estimates after the close and declared a 2-for-1 stock split. YHOO beat estimates of 15 cents per share by four cents. The stock is unavailable for after hours trading so we do not have any good indications as to the Street's reaction to the news. The company had 100 million registered users as of year end and its shopping site is averaging three million unique users per week. However, the company's financial chief said that the current rate of growth is unsustainable, which could put a damper on the positive surprise.<
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by 1/11/2000 5:10 PM
Stocks quoted in this article:
Following-up on a previous Market Observation , Yahoo! (YHOO - 397-3/8) reported its fourth-quarter earnings after the close, topping Street estimates by four cents per share. The Internet company's board also approved a two-for-one stock split that will be payable on February 11. YHOO closed below the 400 mark but is presently halted in after-hours trading activity. On the speculative front, the most-active YHOO option today was the January 500 call, which saw over 7,268 contracts swap hands. In contrast, the most heavily traded put was the January 2002 290 put, which had volume of 1,720 contracts today. <
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by 1/11/2000 4:38 PM
Stocks quoted in this article:
Seagate Technology (SEG - 41-7/8) reported earnings after the close today that should put a smile one investors' faces tomorrow. SEG beat estimates of eight cents per share by six cents per share. This comes after last quarter's loss and the previous quarter's 14-percent disappointment. Total revenue still fell from $1.8 billion to $1.65 billion but the company is back in the black. Currently, nine of 13 analysts have the stock rated as a "buy." However, this is higher than one would expect for a stock that has made no net progress versus early 1997.<
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