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

by 9/21/2000 3:15 PM
Stocks quoted in this article:
Ford Motor (F 24-13/16) announced this morning that it plans to acquire the 18.5 percent of H.J. Heinz (HRZ 31-9/16) it doesn't already own for $30 per share. In response to this news, the stock gapped 7-3/4 points higher at the open and is currently ahead by more than 30 percent on above-average volume. This dramatic upturn has lifted the shares back above both their 10-day and 20-day moving averages, trendlines they haven't closed a session above since August 18.

In HRZ's options pit this afternoon, the in-the-money December 30 call is leading the way on volume of 245 contracts. For the most part, these are likely new positions, as the option entered today's trading with open interest of just 16 contracts.


permalink


by 9/21/2000 3:14 PM
Stocks quoted in this article:
Banking issues are struggling this afternoon, as the PHLX KBW Banking Index (BKX 844.98) has subtracted nearly 19 points, or more than two percent. This decline has pulled the index poised to its lowest intraday level since August 4. Since tallying an all-time intraday high on September 11, the BKX has slipped back below its 10-day, 20-day, and 10-week moving averages. The 10-week trendline had held as flawless support on a weekly closing basis for the previous seven weeks.

Equities sending the BKX lower today include FleetBoston Financial (FBF 38-7/8), down 3.7 percent; Comerica (CMA 53-7/8), down 2.7 percent; Citigroup (C 52-3/16), down 2.6 percent; Bank One (ONE 34-5/8), down 2.6 percent; and J.P. Morgan (JPM 160-5/16), down 2.6 percent.

<
permalink


by 9/21/2000 2:39 PM
Stocks quoted in this article:
Online auctioneer eBay (EBAY 70-3/8) rallied over 16 percent during Wednesday's session on heavy volume after predicting a 50-percent annual growth rate through 2005. Today, the shares are telling a different story, plunging eight percent. This decline was catalyzed by news that brokerage firm Credit Suisse First Boston downgraded the equity from a "strong buy" to a "buy" rating before the open. According to Zacks Online, prior to today, 11 analysts rated EBAY a "strong buy," 14 named the stock a "buy," and three Wall Street names listed EBAY as a "hold."
permalink

by 9/21/2000 12:37 PM
Stocks quoted in this article:
In early-afternoon trading, the Morgan Stanley Healthcare Products Index (RXP 941.3) has jumped back above its 10-day moving average, a trendline it hasn't closed a session above in two-and-a-half weeks. The index is ahead by more than 14 points today, as it continues to approach its overhead 20-day and 10-week moving averages. The RXP also has been supported this week by its uptrending 20-week moving average, which has offered perfect support on a weekly closing basis since the middle of April.

Top index performers this afternoon include Genentech (DNA 170-15/16), up 4.2 percent; Pfizer (PFE 42-7/16), up 3.6 percent; AstraZeneca (AZN 48-1/4), up 3.2 percent; Glaxo Wellcome (GLX 56), up 3.2 percent; Medtronic (MDT 49), up 3.1 percent; and Merck (MRK 70), up 3.1 percent.
permalink


by 9/21/2000 12:07 PM
Stocks quoted in this article:
Pharmaceutical company Bristol-Myers Squibb (BMY 56-7/16) announced this morning that it will boost its stock repurchase program by 20 percent, or $2 billion. The company's total repurchase plan will now total $12 billion. It is the company's fourth buyback program boost since 1996. BMY has risen slightly on the news.

From a long-term technical perspective, BMY is nudging up against resistance from its descending 10-month moving average. The stock has not managed a monthly close above this long-term trendline since November 1999.
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.