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by 11/8/2000 3:38 PM
Stocks quoted in this article:
Gadzoox Networks (ZOOX – 6-3/16) makes hardware and software for storage area networks. Nearly 20 percent of the company is owned by Seagate Technology (SEG - 71). Today, the stock has risen almost 33 percent on above-average volume. This rush higher was catalyzed by news that it will be the first company to show off a two-gigabit switch technology at a trade show later this year. This move boosted the stock above its short-term moving averages for the first time since September 7, but it remains just below resistance in the form of its 10-week moving average.
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by 11/8/2000 11:19 AM
Stocks quoted in this article:
Barnes & Noble (BKS – 19-1/2) operates almost 1,000 bookstores, making it the largest bookseller in the United States, with a 15-percent market share.

Today, the retailer has pushed two percent higher after announcing a positive earnings forecast for the third quarter. Ahead of the opening bell, BKS officials said that its third-quarter earnings should match Wall Street estimates. Additionally, same-store sales for the three-month period will likely show a 5.6-percent increase. The company is due to report its financial numbers on November 16 (next Thursday).

Since October 25, BKS has been muscling steadily higher, appreciating over 16 percent and overtaking its 10-day and 20-day moving averages. The stock is now butting up against its 20-week trendline, which has resided overhead since the last week of September. BKS is also flirting with resistance at its 10-month moving average. Both of these trendlines are perched around the 19-1/2-to-19-3/4 region. <
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by 11/8/2000 10:35 AM
Stocks quoted in this article:
Manugistics (MANU - 122-1/8) makes supply chain management software. Nearly three-fourths of the company's clients are in North America. The stock has been on a fervent tear of late, shooting 114 percent higher since October 12. Having more than doubled in under a month, it seems natural that the company would declare a two-for-one stock split. This announcement came forward this morning around 9:00 a.m. The split will take place on December 7 and will benefit shareholders of record by November 20.

MANU has experienced a volatile first hour of trading, rocketing out of the gate to a new all-time high of 132-7/8 but quickly paring its gains and sinking into negative territory. Shortly after 10:30 a.m., the shares were off over six percent. The stock remains below all of its significant moving averages, however. MANU has been trading above its 10-day trendline since October 18.

On the options front, activity is light today. The equity is not one that is favored by options players, as its most heavily traded option (the April 55 put) is home to less than 700 contracts. <
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by 11/8/2000 10:05 AM
Stocks quoted in this article:
Abercrombie & Fitch (ANF – 24-1/4), formerly a member of the Limited (LTD – 27-3/16) clan, specializes in casual apparel for men, women, and children. Tuesday evening, the retailer reported third-quarter earnings of 43 cents per share, a 19-percent improvement over 1999 numbers. This number additionally topped analysts' expectations by two cents per share.

In early trading, ANF shares have tacked on more than 10-1/2 percent. This move has taken the equity back above its 10-week moving average, a trendline that has contained ANF's past six weekly closes. Since early October, shares of the retailer have been consolidating sideways in a range between the 21-1/2 and 24-1/2 levels. ANF's rally today has also catapulted it to the top of this trading range. <
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by 11/8/2000 9:34 AM
Stocks quoted in this article:
Federated Department Stores (FD – 34-7/16) reported third-quarter earnings this morning. The retailer logged earnings of 26 cents per share, blowing past Street estimates, which called for 20 cents per share.

FD shares have been shaping up in the weeks prior to today's report, as the stock was able to muscle above its short-term 10-day and 20-day moving averages last month. FD later used the 20-day trendline as a springboard for a move to levels not seen since July. <
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