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by 3/20/2001 9:02 AM
Stocks quoted in this article:
In today's trading, Juniper Networks (JNPR - 58-7/16) will attempt to perfect its second-consecutive daily close above its 10-day moving average for the first time since January 23 and 24. During this period, the stock receded approximately 55 percent. In yesterday's option activity the April 90 call was active. The out-of-the-money option saw over 10,000 contracts cross the tape, with virtually all of the volume translating into new open interest. Most of the volume transacted in a series of block of block trades that changed hands at around one dollar. The most likely explanation for this activity is that it is the work of an institutional player selling the out-of-the-money calls against an existing stock position to collect the premium.<
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by 3/20/2001 9:02 AM
Stocks quoted in this article:
Telecom Argentina (TEO - 16.15) has been unable to dodge the selling pressure that has found all members of the telecommunications industry in the past year regardless of place on the globe. The stock has now declined over 65 percent from its February 2000 all-time high. Yesterday, the stock finished fractionally lower on heavy volume. Thus far, TEO has been able to hold its late-2000 lows in the 14.50 area. Options on TEO are typically only lightly traded, however the April 15 put and call were active yesterday. Both options saw over 2,000 contracts cross the tape with the large majority of the volume translating into new open interest on each option. The option activity may have been the work of an institutional player initiating a straddle position.
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by 3/20/2001 9:01 AM
Stocks quoted in this article:
The AMEX Biotechnology Index (BTK - 499.5) managed to finish Monday's trading up nearly seven percent. However, the index now faces duel resistance just overhead. First, the BTK will have to grapple with the round-number 500 level. In addition, the index is staring up at its declining 10-day moving average. From a longer-term technical perspective, the index continues to trade below its 20-month moving average. This trendline, which the BTK has still not made a monthly close below since September 1998, currently stands at approximately 530.
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by 3/20/2001 8:57 AM
Stocks quoted in this article:
Semiconductor capital equipment maker KLA-Tencor (KLAC 41-3/4) is the latest semiconductor name to warn that it will not make its estimates for this quarter. The company had previously projected earnings of 58 cents. The Street's estimate was for 51 cents, compared to 38 cents last year. The new projection offered by KLAC is eight to ten percent lower sales than their previous guidance for the quarter. They did not offer a specific profit figure, but actual earnings will be released April 18.

The stock was halted from trading after hours last night, as the news was being disbursed. In pre-market activity, KLAC shares are less than one point lower, indicating the news was no surprise to investors. The shares gained about eight percent during yesterday's session. <
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by 3/19/2001 2:42 PM
Stocks quoted in this article:
Novoste (NOVT 16-1/2) released a report on the results from a three-year long trial of Beta-Cath. Unfortunately, the reported proved that no clinical benefit existed for using Beta-Cath radiation to prevent restenosis in blood vessels when the patients were being treated for blockage for the first time. However, the radiation treatment showed to be highly effective in patients who were being treated for reblockage of an artery, undergoing angioplasty and radiation.

Investors made their disappointment crystal clear today, as the stock fell more than 42 percent in heavy trading following downgrades by three different analysts. Gapping significantly lower, the stock managed to find some support at the 13 level.
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