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by 6/15/2000 1:40 PM
Stocks quoted in this article:
With the Nasdaq Composite (COMP - 3833.8) up 0.96 percent and the S&P 500 Index (SPX - 1479.38) up 0.60 percent today, 20 of the 35 sector indices are currently in positive territory. Among the indices we follow, two hit new annual highs this afternoon. Here are the top four performing indices today: the GSTI Hardware Index (GHA - 570.57), up 3.3 percent; the CBOE Computer Software Index (CWX - 1254.7), up 2.3 percent; the AMEX Computer Technology Index (XCI - 1515.8), up 2.3 percent; and the Morgan Stanley Healthcare Providers Index (RXH - 188.63), up 2.3 percent. The four indices showing the most weakness are the PHLX KBW Banking Index (BKX - 798.39), down 4.9 percent; the PHLX Oil Service Sector Index (OSX - 118.51), down 2.3 percent; the PHLX Gold and Silver Index (XAU - 60.17), down 2.2 percent; and the PHLX Forest and Paper Products Index (FPP - 276.63), down 1.9 percent.<
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by 6/15/2000 11:54 AM
Stocks quoted in this article:
Tobacco giant Philip Morris (MO - 27-3/8) is seeing some heavy option activity in late-morning trading. A 3,000-contract spread was initiated between the in-the-money June 20 and 22-1/2 call contracts. Today's activity is noteworthy, as June options contracts expire at the close of trading tomorrow. In news, tobacco firms received a setback yesterday during the landmark Florida class action lawsuit brought by people with smoking-related illnesses. The Judge instructed the jury that they shouldn't consider the $246 billion in legal settlements between U.S. tobacco companies and state governments as punishment for past misdeeds. According to the judge, "this case is about punishment." Separately, several CEOs of tobacco firms involved in the case are scheduled to testify in the coming days. The CEO of MO, Michael Szymanczyk, testified yesterday. On a technical note, MO is currently sitting above both its 10-day and 20-day moving averages and is currently flat on the day.
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by 6/15/2000 11:14 AM
Stocks quoted in this article:
Digital River (DRIV - 7-11/16) is drowning this morning in response to news that the company’s second-quarter sales will fall short of Street expectations. The announcement came a day after cautionary comments on revenue by DRIV executives sent the stock lower by nearly 22 percent. So far today, the shares have wilted by over 25 percent on above-average volume, reaching their worst intraday mark since early October 1998. On the options front this morning, 615 contracts have crossed the tape on the near-the-money July 7-1/2 put. There was no open interest on this option as of yesterday’s close.<
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by 6/15/2000 11:14 AM
Stocks quoted in this article:
This morning, it was reported that Kemet (KEM - 31-1/16) Chief Executive David Maguire sold 522,000 shares of the company’s common stock in May. The equity has stepped back by more than seven percent today, plunging below its 10-day and 20-day moving averages. The shares are 30 percent off their all-time intraday high of 44-7/64 from May 1. In KEM’s options pit today, 3,700 contracts have traded on the October 45 call. Open interest on this deep-out-of-the-money strike stands at 409 contracts, so most of this morning’s volume is likely to translate to new positions. What’s more, the in-the-money July 35 put, which has open interest of 216 contracts, has been active on volume of 2,001 contracts. These are now two of the most-active options on the CBOE.<
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by 6/15/2000 8:50 AM
Stocks quoted in this article:
It was another lackluster day of trading in world markets, following a mixed close in the U.S. yesterday. Eight of 18 world markets are higher thus far. On average, the overseas markets fell by 0.12 percent. The top four major markets and their respective returns are Hong Kong (HKIND - 16080), up 1.41 percent; Belgium (BELND - 2915.3), up 1.00 percent; Denmark (CSIND - 291.67), up 0.79 percent; and South Africa (JIIND - 8548), up 0.55 percent. The bottom four major markets and their respective returns are Japan (TOPIX - 1507.4), down 2.41 percent; Japan (NIKKEI - 16338.7), down 1.90 percent; Finland (HEXND - 17047), down 0.80 percent; and Ireland (ISQND - 4926.6), down 0.54 percent.<
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