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by 10/17/2000 10:15 AM
Stocks quoted in this article:
Beverly Enterprises (BEV – 4-3/4) is the leading operator of nursing homes in the United States. The company owns and operates around 560 facilities in 30 states across the country. Last night, BEV officials said the firm will absorb a $50 million charge in the third quarter. The charge concerns increased patient liability costs for some of BEV's operations in Florida. BEV is scheduled to report third-quarter results during the first week of November. The Street expects the company to earn 10 cents per share.

Although the firm said this charge shouldn't affect its earnings, the stock has retreated nearly 10 percent in early-morning trading. This decline has taken the equity below its 10-week moving average for the first time since late July. <
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by 10/17/2000 10:15 AM
Stocks quoted in this article:
Altera (ALTR – 33-3/8) manufactures specialized equipment for the semiconductor industry. Last night following the close, the company reported third-quarter earnings of 43 cents per share, equaling analysts' estimates. The firm also noted that quarterly sales climbed 16 percent compared to the second quarter of 2000.

Later on yesterday evening, ALTR announced plans to double the number of shares it will repurchase under its stock buyback program. The company now has its sights set on repurchasing 48 million shares, up from the previously announced 24 million shares.

On the options front today, the October 35 call leads the way, with 573 contracts trading. These could be liquidations, as this call, which is currently home to 3,051 open positions, expires on Friday.

ALTR has risen over one percent today but is still trading near a 10-month low beneath all of its significant moving averages.
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by 10/17/2000 9:25 AM
Stocks quoted in this article:
BroadVision (BVSN – 23-13/16) is poised to open today's trading up by more than four points, or over 20 percent. This expected rise comes on news that the stock will be added to the S&P 500 Index (SPX – 1374.62), replacing PaineWebber Group (PWJ – 66-7/8), which is being acquired by USB AG. This change will occur after next Monday's closing bell.

BVSN finished yesterday's trading ahead by greater than eight percent, using support from its ascending 10-day moving average. The stock, though, remains beneath all of its significant intermediate-term and long-term moving averages.

Information from Schaeffer's Daily Sentiment shows that investors are displaying more optimism toward BVSN. On September 19, Schaeffer's put/call open interest ratio (SOIR) on the equity stood at 0.58, which is significantly above the security's current SOIR of 0.35. During this time frame, call open interest for options expiring within the next three months expanded by 27,818 contracts, while put open interest rose by just 2,493 contracts.


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by 10/16/2000 4:01 PM
Stocks quoted in this article:
Sprint PCS Group (PCS – 31-13/16) has seen notable activity today on its January 2003 60 LEAPS call. In late-afternoon trading, 3,000 contracts have changed hands at this far out-of-the-money strike, where 602 calls are executed on an average trading day. These could be liquidations, as open interest at this strike weighs in at 6,700 contracts. However, it is difficult to determine, as all of the blocks that traded went off between the bid and the ask prices. PCS saw the bulk of today's options activity transpire around 2:00 p.m.

PCS reports third-quarter earnings tomorrow. The Street expects the company to post a loss of 42 cents per share, slimmer than the 66-cent loss the company announced last year. When the firm announced its second-quarter results on July 20, it beat the Street's estimates by three cents per share.

PCS is off more than eight percent today and has breached its 10-day and 20-day moving averages. On Friday, PCS closed above these short-term trendlines for the first time since July 20 (its last earnings announcement). <
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by 10/16/2000 3:46 PM
Stocks quoted in this article:
Tiffany & Co. (TIF – 37-1/4) has strengthened by just over four points, or more than 12 percent, in late-afternoon trading on no significant news. This upswing has propelled the equity back above its descending 10-day moving average, a trendline that the shares last closed a session above on September 14. TIF has also vaulted higher than its 10-month moving average and is quickly approaching its overhead 20-week trendline.

On the options front today, the near-the-money October 37-1/2 put is leading the way on volume of 500 contracts. This activity appears to be liquidations, as open interest on the option stands at 567 contracts.

Sentiment, though, remains slanted toward the pessimistic side on this retailer. Today, Schaeffer's put/call open interest ratio (SOIR) on TIF rang up at 1.01, which indicates that put open interest for options expiring within the next three months surpasses call open interest by one percent. For additional details about SOIR, please visit Schaeffer's Daily Sentiment.


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