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by 9/11/2000 11:21 AM
Stocks quoted in this article:
After rallying roughly 35 percent from its late-July low to Thursday's close, Seagate Technology (SEG 56-3/8) has returned to the support of its 20-day moving average.

It appears that a large straddle was initiated using the SEG October 60 call and put. Each option saw a 5,000-contract block change hands in mid-morning trading. The activity on the call transacted at the bid, while the block on the put crossed the tape between the bid and the ask. These are two of the most-active contracts on the AMEX.
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by 9/11/2000 11:17 AM
Stocks quoted in this article:
Albertson's (ABS 21-5/8) is a major American grocer. Late last month, the shares retreated nearly 30 percent in two trading days. This price action came after company officials announced that second-quarter earnings would fail to match analysts' estimates. The stock has not begun to recover from this drubbing, and has in fact relinquished almost five additional percent from its final resting place on August 23.

Today, more bad news emerged for the company as a judge ruled that ABS owes back wages to as many as 150,000 past employees. This is a result of eight class-action lawsuits filed against the company. Surprisingly enough, this news has had little negative repercussions for the shares, as ABS is trading over one percent higher in late-morning activity. <
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by 9/11/2000 9:28 AM
Stocks quoted in this article:
Look for Dura Pharmaceuticals (DURA - 28.63) to finally break through the 28-29 range. The level returned to haunt the stock during its recent advance attempts, just as it thwarted rallies in early 1998. The Irish pharmaceutical giant, Elan (ELN - 52.13) will be acquiring DURA for $1.8 billion in an all-stock deal that values DURA shares at $35 each. This figure represents a 22-percent premium over DURA's close on Friday. DURA is not widely covered by options investors, as peak open interest in the October series rests at the 30 call with just 348 open contracts. <
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by 9/8/2000 3:50 PM
Stocks quoted in this article:
Juniper Networks (JNPR 198-1/8) had its "strong buy" status reiterated this morning by a brokerage house. Despite this news, the security gapped 3-7/8 points lower and is presently down by more than 17 points, or nearly eight percent. This slippage has sent the shares back beneath their 10-day moving average, a trendline they haven't finished a session above since August 3.

In JNPR's options pit today, the out-of-the-money October 200 call has led the way on volume of 4,247 contracts. Open interest at this strike stands at 2,170 contracts, which indicates that some of today's volume is likely to become new positions. Another back-month option the October 175 call has seen volume of 1,061 contracts.

For the front-month series, the September 200, 210, and 220 calls have been active, as 1,209, 1,614, and 1,757 contracts have crossed the tape, respectively. What's more, 1,839 contracts have traded on the September 200 put.

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by 9/8/2000 3:41 PM
Stocks quoted in this article:
This morning, Duke Energy (DUK 79-7/8) was upgraded to a "market outperformer" from "market perform" status by Goldman Sachs Group (GS 125-11/16). In reaction to this development, the stock is up 2.7 percent to lead the PHLX Utility Index (UTY 363.02) higher by more than 10 points, or almost three percent. With this climb, the UTY has recorded an annual best for the sixth consecutive session. Since its June 30 intraday bottom, the index has vaulted ahead by over 29 percent, as it continues to approach its all-time intraday high of 368.32 from early October 1998.

Other UTY issues pushing the index upward this afternoon include PECO Energy (PE 53-13/16), up 6.1 percent; Unicom Corp. (UCM 50-1/2), up 5.2 percent; TXU Corp. (TXU 38-11/16), up 4.3 percent; Consolidated Edison (ED 34-3/16), up 4.1 percent; Public Service Enterprises (PEG 39-5/8), up 3.9 percent; Southern Co. (SO 32-15/16), up 3.5 percent; and DTE Energy (DTE 37-15/16), up 3.4 percent.


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