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by 1/17/2001 11:24 AM
Stocks quoted in this article:
Kellstrom Industries (KELL – 4-13/32) is in the business of overhauling and reselling aircraft engines and other parts. The firm's customers include commercial airlines and the U.S. military. Today the company said it reduced its workforce by 32 percent, eliminating 220 jobs. This cut was made after the firm completed its acquisition of Aviation Sales (AVS – 3-3/4) aircraft and engine-parts resale division.

KELL officials said that charges relating to this acquisition and subsequent layoff will likely cause the firm to miss analysts' estimates for the fourth and first quarters. In late-morning trading, the stock is off over two percent. The stock has been trending sharply lower over the past two years, dropping 85 percent since its December 1998 high.
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by 1/17/2001 11:14 AM
Stocks quoted in this article:
General Motors (GM – 56-1/8) reported fourth-quarter earnings of $1.15 per share, beating Street expectations of $1.12 per share. GM also stated that it is comfortable with forecasts for the rest of the year.

The security is pulling back after an initial surge in trading today, after bounding over its 10-day moving average on Tuesday. The stock may finally succeed in breaking away from the 55 level that has been holding the shares back since November 20.

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by 1/17/2001 11:12 AM
Stocks quoted in this article:
The market remains confident today after the release of the December results of the Consumer Price Index. The most closely watched gauge of inflation, the CPI rose 0.2 percent for the month, matching analysts' expectations. For the entire year, the CPI rose 3.4 percent, making it the largest jump since 1990 when the index rose 6.1 percent.

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by 1/17/2001 11:09 AM
Stocks quoted in this article:
Formed by two executives from Palm (PALM – 27-13/16), Handspring (HAND – 48) makes less expensive models of the PalmPilot electronic organizer line. HAND debuted on the Nasdaq Exchange in June after PALM was taken public by its parent, 3Com. Last night after the close, the firm reported a second-quarter loss of seven cents per share. The firm fared better than expected, as the Street had been looking for a 16-cent loss from HAND.

This positive earnings surprise has investors doing handsprings of their own, as the stock has shot up seven percent this morning. The move has not been enough to carry the equity above its overhead 10-week moving average, however, which is perched just above the 48 mark. HAND has not traded above this intermediate-term trendline since the week of November 10.
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by 1/17/2001 10:16 AM
Stocks quoted in this article:
U.S. December Industrial Production showed slightly softer performance than consensus opinion. The 0.6-percent decline was slightly below the consensus figure of a 0.5-percent slowdown. Additionally, the initial November Industrial Production number was revised downward from -0.2 percent to -0.3 percent.

The U.S. December Capacity Utilization came in below consensus at 80.6 percent (consensus was for 80.9 percent). The November capacity was also revised downward to 81.4 percent from the initial report of 81.6 percent.

The nation's industrial sector last month fell at the quickest pace since June 1998. The decline marked the third consecutive monthly decrease, the first such string since the recession of 1991.

The figures provide further confirmation that the domestic manufacturing sector is in the midst of a dramatic slowdown as consumers and businesses cut back on spending and orders for new big-ticket items.
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