Schaeffer's Options Center
Sponsored by:
Schaeffer's Daily Option Blog

by 9/11/2000 3:49 PM
Stocks quoted in this article:
The Commerce Department announced today that manufacturers' after-tax profits in the second quarter fell to an average 6.6 percent of sales. This number compares to the first-quarter number of 6.7 percent of sales. The number was marginally higher than the second quarter of 1999 when manufacturers' profits were 6.3 percent of sales. The Federal Reserve has raised interest rates six times in 15 months in order to slow the economy's growth to a sustainable non-inflationary rate. However, today's announcement may spark fears that the Fed's tightening may be a double-edged sword, cutting corporate profits along with cutting the threat of inflation. <
permalink

by 9/11/2000 3:47 PM
Stocks quoted in this article:
Commerce One (CMRC 73-3/8) is up nearly four percent in late trading in reaction to a brokerage upgrade from "accumulate" to "strong buy." From its close on August 29, the stock has stepped up by over 40 percent.

The CMRC options pit is seeing heavy activity today, led by the September 70 call, which has seen volume of 5,802 contracts on open interest of 5,027 contracts. Several mid-sized blocks crossed the tape near the bid, which suggests the liquidation of some of the open positions. However, two blocks of 300 and one of 830 contracts transacted at the ask. This is one of the most-active calls on the CBOE. <
permalink


by 9/11/2000 3:41 PM
Stocks quoted in this article:
Technology bellwether Cisco Systems (CSCO 61-3/8) has often been cited as a stock to watch in order to predict the direction of the Nasdaq Composite (COMP 3891.1). As CSCO goes, pundits say, so goes the COMP. And until CSCO can convincing rally out of its current trading range, those who adhere to that theory say that the COMP will also be unable to rally above its recent high.

Except for one day in early August, CSCO has traded in a tight range between 60 and 70 for more than three months. The stock was once again rejected at the 70 level on September 1, reaching as high as 69-5/8 before heading lower to close at 68-9/16. In the last five sessions, CSCO has lost over 10 percent. The stock now finds itself in danger of closing at its lowest level since an August 2 close of 60-15/16. If the shares break the bottom of the trading range, 57 may offer some technical support. The 57 region helped to support the shares in April, May, and early August. <
permalink


by 9/11/2000 3:03 PM
Stocks quoted in this article:
The AMEX Airline Index (XAL 151.44) is one of the worst-performing indices in today's trading. The XAL is off almost three percent, as the price of oil has climbed to a 10-year high. The front-month oil futures contract (OIL 34.90) hit a high of $35.85 per barrel earlier today. With fuel as the second largest expense for airlines next to labor, investors are concerned that high oil prices may take their toll on profits in the quarter to come.

Since making a 16-month high of 177.6 on July 18, the XAL has dropped nearly 15 percent. In the process, the index breached important support at the 155 area, a level that served as resistance early in the year and had recently strongly supported the index. The XAL has also dropped below its 10-month moving average at 153, a long-term trendline that had supported the index since late May.
permalink


by 9/11/2000 11:39 AM
Stocks quoted in this article:
PC manufacturer Hewlett-Packard (HWP 117-1/4) is seeing above-average trading volume today after it hit the wires that HWP is in discussions to purchase "big six" firm PricewaterhouseCoopers' management and information-technology consulting operations. Figures have not been solidified, but $17 - $18 billion in cash and stock seems the likely wager. HWP officials said this deal would "mildly dilute" the company's 2001 earnings figures. A final deal is probably four to six weeks away. HWP has declined on this news, giving back 3.6 percent shortly before noon. <
permalink

Featured Brokers
ADVERTISEMENT
Unusual Option Volume
Option Flow
ADVERTISEMENT
ADVERTISEMENT
Most Active Stocks
Most Active Option Strikes
Largest Open Interest

Partner Center

© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: service@sir-inc.com

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.