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by 6/20/2000 11:02 AM
Stocks quoted in this article:
Cruise vacation specialist Carnival Corp. (CCL - 21-15/16) is trading over six percent lower on heavy volume today and has reached a new 18-month low of 20. Today’s decline came despite news that the company had exceeded Wall Street’s second-quarter earnings expectations by three cents per share. This news was not greeted with favor on the Street, as Bank of America (BAC - 48-15/16) reduced its rating on the shares from “buy” to “market perform” shortly after the opening bell.
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by 6/20/2000 11:01 AM
Stocks quoted in this article:
Grocery-store retailing name Kroger (KR - 20-1/8) is among the most-active equities trading on the New York Stock Exchange in mid-morning activity Tuesday. The stock has rallied nearly eight percent today on above-average volume after announcing a positive earnings surprise for the first quarter. KR reported earnings of 33 cents per share for the period, surging past analysts’ estimates by two pennies per share. Additionally, KR officials said they target fiscal year 2000 earnings-per-share growth in the neighborhood of 16 to 18 percent. Since the beginning of June, KR had been sandwiched in a tight range between the 18 and 19 levels. Today’s rally has taken the stock both above this range and beyond its 10-day and 20-day moving averages. <
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by 6/20/2000 11:00 AM
Stocks quoted in this article:
The S&P 100 Index (OEX - 801.18) continues to dance around the 800 level in today's trading. It will be important to keep an eye on this level, as this round-number area acted as resistance in late December, mid-January, and late April. Yesterday, the OEX tacked on over 1.7 percent, using support from its 10-day moving average to move to an intraday level not seen since April 12.
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by 6/19/2000 4:06 PM
Stocks quoted in this article:
H.J. Heinz (HNZ - 41-13/16) continues to rally following its earnings report last Thursday (see last week’s Market Observation for further details). Today, the shares closed modestly higher after being upgraded before the market open at Merrill Lynch (MER - 118). The brokerage giant boosted its rating on the consumer name from “accumulate” to “buy.” Today’s rally in the shares took the stock briefly above short-term double-top resistance at the 42 mark, although the shares did not manage to close above this level. Option activity was sparse today, with no strikes seeing over 70 contracts change hands.
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by 6/19/2000 4:01 PM
Stocks quoted in this article:
Internet advertising name DoubleClick (DCLK - 36-11/16) is trading nearly five percent lower in late-afternoon activity following negative comments from a Wall Street firm. An analyst at Robertson Stephens lowered his 2000 and 2001 earnings outlooks for the company. The analyst cited concerns over slowing Internet advertising growth as the primary reason for this revised outlook. The stock is now trading at lows not seen since last August on above-average volume. Wall Street remains enamored with the shares nonetheless, as illustrated by the latest data from Zacks Online. Of the 22 analysts covering the shares, 20 have rated DCLK a “strong buy” or a “buy.”
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