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by 9/25/2000 11:23 AM
Stocks quoted in this article:
DoubleClick (DCLK 37-15/16) provides Internet advertising services to over 1,500 websites. DCLK has been mired in a sideways trend since early June, vacillating between the 30 and 46 levels. From a longer-term perspective, the equity has been trading below its descending 20-week moving average for just over six months. This trendline is now perched directly overhead in the 39 region.

This morning before the open, DCLK announced plans to purchase @plan.inc (APLN 8-3/4), an online marketing firm, for $120 million in cash and stock. The offer represents a 28-percent premium over APLN's closing price on Friday. APLN is trading more than 20 percent higher this morning, while DCLK is showing marginal gains.
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by 9/25/2000 11:23 AM
Stocks quoted in this article:
Sears, Roebuck and Co. (S 34.24) is one of the largest retailers in the United States. The company is one of the oldest American firms, having opened its doors as a mail-order operation in 1893. Today, the stock and 56 other equities joined the ranks of New York Stock Exchange stocks trading in dollars and cents, rather than fractions.

Additionally, S is in the news after company officials decided to eliminate the office of the chief executive. As such, the current Chief Operating Officer is leaving the firm on October 1 to pursue other career possibilities. S is trading modestly lower in mid-morning activity today. <
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by 9/25/2000 11:19 AM
Stocks quoted in this article:
Today, Palm (PALM 54) announced that its has formed an alliance with Motorola (MOT 32-7/8) to co-develop and co-brand a new line of smart mobile phones. While MOT has only managed fractional gains on the news, PALM is up over three percent. After bottoming in late May, PALM has surged 170 percent higher.

The busiest PALM option so far today is the October 55 call, which has logged volume of over 5,700 contracts on open interest of 2,052 contracts. A 2,500-contract block crossed the tape near the ask in late-morning trading. <
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by 9/25/2000 11:19 AM
Stocks quoted in this article:
CIENA (CIEN 134-5/8) announced today that Korea Telecom (KTC 32-3/16) will use its products to develop optical transport systems in Korea. The stock has surged over 11 percent to a new all-time high in response to this news. CIEN has been a high flyer in 2000, appreciating 370 percent since the beginning of the year.

It appears that a large call position on the CIEN January 125 call has been rolled up to the January 150 call. Two large blocks totaling approximately 15,500 contracts have traded on both options. The January 125 call has open interest of 16,624 contracts, while the January 150 call sports open interest of just 72 contracts. These are two of the most-active calls on the AMEX. <
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by 9/25/2000 9:58 AM
Stocks quoted in this article:
The AMEX Biotechnology Index (BTK 794.1) is higher by more than 21 points, or nearly three percent, this morning. The index has now eclipsed its near-term intraday high of 789.2 from September 1 and is rapidly approaching its all-time intraday best of 806.4 from March 7. The BTK has advanced by over 38 percent since its July 31 intraday low, using reliable support from its ascending 10-week moving average.

Top index performers so far today include COR Therapeutics (CORR 63-7/16), up 6.3 percent; Human Genome Sciences (HGSI 184-7/16), up 5.8 percent; MedImmune (MEDI 81), up 5.8 percent; Millennium Pharmaceuticals (MLNM 155-3/4), up 5.3 percent; Cephalon (CEPH 54-7/16), up 4.9 percent; and Gilead Sciences (GILD 113-7/8), up 4.2 percent.

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