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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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by 11/8/2000 9:33 AM
Stocks quoted in this article:
Citrix Systems (CTXS - 24-5/8) is set to gap higher at the open this morning, as a major brokerage house upgraded the shares to a "buy" from an "outperform" rating. CTXS has spent the last five months trading in a range between 14-1/4 and 28-3/16. A move above 28-3/16 means the security will effectively begin to fill a bear gap created on June 12 when the stock lost nearly half its value. Yesterday, the shares reversed sharply to the upside after finding support from their 10-day moving average to close at their highest level since June 13.
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by 11/7/2000 3:55 PM
Stocks quoted in this article:
Another stat calling for a Fed hiatus! The Federal Reserve just released the latest consumer credit numbers showing that U.S. consumer borrowing slowed sharply in September. Consumer credit expanded $6.5 billion in September, while the August number was revised downward from plus $13.4 to plus $12.3 billion. Analysts had been expecting a jump of $11 billion for September.

The Fed said that both revolving and non-revolving credit growth slowed markedly in September, a fact that could indicate some slight consumer unwillingness to accumulate debt at the pace seen earlier this year.

Policy makers have recently shown some concerns about how freely consumers have tapped their available credit lines. Federal Reserve Vice Chairman Roger Ferguson, in a speech on Oct. 31, noted that household debt burdens (the ratio of debt-service payments to disposable income) had risen to 13.75 percent. "A rising debt may suggest that both consumers and lenders expect good times to continue," he said.

Today's numbers follow through on the Consumer Confidence report of October 31 that came in at its lowest level since October 1999.
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by 11/7/2000 3:35 PM
Stocks quoted in this article:
Cintas (CTAS - 48-3/4) has enjoyed a new 52-week high in today's trading, pushing as high as 49-1/16. The stock remains a whisper below its all-time high of 52-1/4 logged in February 1999. Option activity remains typically light on the uniform manufacturer. The strike with the heaviest open interest on CTAS is the November 50 call with 1,000 contracts of open interest. <
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by 11/7/2000 3:29 PM
Stocks quoted in this article:
Jabil Circuit (JBL - 51-7/16) has been pulled lower by selling pressure that has befallen makers of communications chips. JBL is down about 10 percent today and is struggling to hold the round-number 50 level. However, the stock has been able to hold its 10-month moving average thus far on today's drawdown. JBL's March 60 call and March 50 put have been extremely active today. The two options have seen nearly 6,900 contracts and 8,000 contracts change hands, respectively.
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