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by 11/8/2000 10:35 AM
Stocks quoted in this article:
Manugistics (MANU - 122-1/8) makes supply chain management software. Nearly three-fourths of the company's clients are in North America. The stock has been on a fervent tear of late, shooting 114 percent higher since October 12. Having more than doubled in under a month, it seems natural that the company would declare a two-for-one stock split. This announcement came forward this morning around 9:00 a.m. The split will take place on December 7 and will benefit shareholders of record by November 20.

MANU has experienced a volatile first hour of trading, rocketing out of the gate to a new all-time high of 132-7/8 but quickly paring its gains and sinking into negative territory. Shortly after 10:30 a.m., the shares were off over six percent. The stock remains below all of its significant moving averages, however. MANU has been trading above its 10-day trendline since October 18.

On the options front, activity is light today. The equity is not one that is favored by options players, as its most heavily traded option (the April 55 put) is home to less than 700 contracts. <
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by 11/8/2000 10:05 AM
Stocks quoted in this article:
Abercrombie & Fitch (ANF – 24-1/4), formerly a member of the Limited (LTD – 27-3/16) clan, specializes in casual apparel for men, women, and children. Tuesday evening, the retailer reported third-quarter earnings of 43 cents per share, a 19-percent improvement over 1999 numbers. This number additionally topped analysts' expectations by two cents per share.

In early trading, ANF shares have tacked on more than 10-1/2 percent. This move has taken the equity back above its 10-week moving average, a trendline that has contained ANF's past six weekly closes. Since early October, shares of the retailer have been consolidating sideways in a range between the 21-1/2 and 24-1/2 levels. ANF's rally today has also catapulted it to the top of this trading range. <
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by 11/8/2000 9:34 AM
Stocks quoted in this article:
Federated Department Stores (FD – 34-7/16) reported third-quarter earnings this morning. The retailer logged earnings of 26 cents per share, blowing past Street estimates, which called for 20 cents per share.

FD shares have been shaping up in the weeks prior to today's report, as the stock was able to muscle above its short-term 10-day and 20-day moving averages last month. FD later used the 20-day trendline as a springboard for a move to levels not seen since July. <
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by 11/8/2000 9:33 AM
Stocks quoted in this article:
Citrix Systems (CTXS - 24-5/8) is set to gap higher at the open this morning, as a major brokerage house upgraded the shares to a "buy" from an "outperform" rating. CTXS has spent the last five months trading in a range between 14-1/4 and 28-3/16. A move above 28-3/16 means the security will effectively begin to fill a bear gap created on June 12 when the stock lost nearly half its value. Yesterday, the shares reversed sharply to the upside after finding support from their 10-day moving average to close at their highest level since June 13.
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by 11/7/2000 3:55 PM
Stocks quoted in this article:
Another stat calling for a Fed hiatus! The Federal Reserve just released the latest consumer credit numbers showing that U.S. consumer borrowing slowed sharply in September. Consumer credit expanded $6.5 billion in September, while the August number was revised downward from plus $13.4 to plus $12.3 billion. Analysts had been expecting a jump of $11 billion for September.

The Fed said that both revolving and non-revolving credit growth slowed markedly in September, a fact that could indicate some slight consumer unwillingness to accumulate debt at the pace seen earlier this year.

Policy makers have recently shown some concerns about how freely consumers have tapped their available credit lines. Federal Reserve Vice Chairman Roger Ferguson, in a speech on Oct. 31, noted that household debt burdens (the ratio of debt-service payments to disposable income) had risen to 13.75 percent. "A rising debt may suggest that both consumers and lenders expect good times to continue," he said.

Today's numbers follow through on the Consumer Confidence report of October 31 that came in at its lowest level since October 1999.
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