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by 9/28/2000 10:48 AM
Stocks quoted in this article:
Before today's opening bell, Marriott International (MAR – 38-5/16) posted third-quarter earnings of 43 cents per share, exceeding brokers' forecasts by a penny per share. According to I/B/E/S International, it was the company's sixth straight positive earnings surprise. MAR also announced that it sold four hotels for $274 million to a joint venture it created with Blackacre Capital Management.

In response to this news, MAR has advanced by more than three percent this morning to overtake its 10-day and 20-week moving averages. The security is now sitting just beneath its 20-day trendline.

According to Multex, the Street is showing some skepticism toward the equity. Out of 16 analysts covering MAR, five rate it as a "hold," while one gives it a "moderate sell" rating. Any upgrades as a result of today's earnings report could bolster the shares.

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by 9/28/2000 10:47 AM
Stocks quoted in this article:
This morning, the Morgan Stanley Healthcare Products Index (RXP – 974.2) has stepped up by nearly 11 points, as the index appears headed toward its highest closing mark since July 12. Since September 20, the RXP has gained almost seven percent, prompting a bullish crossover of the index's 10-day and 20-day moving averages. The RXP is also trading above all of its significant intermediate-term and long-term trendlines.

Top index performers so far today have been C.R. Bard (BCR – 42-1/16), up 4.6 percent; Guidant (GDT – 69), up 3.7 percent; Chiron (CHIR – 45-3/8), up 3.5 percent; and Boston Scientific (BSX – 16-15/16), up 3.4 percent.

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by 9/28/2000 9:28 AM
Stocks quoted in this article:
Interactive entertainment software manufacturer Electronic Arts (ERTS – 45-3/16) had a wild ride yesterday, bouncing around within an 11-point intraday range on investors' fears that Sony (SNE – 99-3/8) would not ship all of the expected one million PlayStations 2s this year. The stock wound up posting an 11-percent loss at the close. Today, the equity is poised to regain some of that ground; the shares are looking to open over six percent higher thanks to an upgrade from a "buy" to a "strong buy" from a brokerage firm.

ERTS options, which are only moderately traded, are slanted to the put side. For options expiring within the next three months, put open interest exceeds call open interest by 42 percent.
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by 9/28/2000 8:46 AM
Stocks quoted in this article:
Investors body slammed World Wrestling Federation (WWFE – 19-3/4) in extended trading yesterday. The company lowered earnings views for its fiscal year 2001, which ends April 30. Investors dropped the stock to the mat, sending it as low as 12-3/4. WWFE said that fiscal revenue from its core business would be three percent below prior estimates and that EBITDA (earnings before interest, taxes, depreciation, and amortization) would fall eight to 10 percent below prior expectations.

The company launched it initial public offering (IPO) in October with 10 million shares priced at 17. The lock-up period ended in April. Recent trading has seen the stock turned away at the 22-1/2 level with potential chart support around 18-1/2. Traders can also look for potential support on a closing basis around 12-1/2 to 13. A break below these levels would bode poorly for the shares.

All five analysts covering WWFE rate the equity a "buy" or better.

With the stock's average daily volume a little over 64,000 shares, options investors have shied away from the stock. Current total open interest in options with up to three month's of life is just 818 contracts (744 calls versus 74 puts). <
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by 9/27/2000 3:04 PM
Stocks quoted in this article:
The Morgan Stanley High Tech 35 Index (MSH – 949.84) has declined by nearly 27 points, or more than two percent, in late-afternoon trading. This slippage has the index ready to tally its fifth consecutive losing session and close at its lowest mark since May 31.

The MSH has lost almost 16 percent of its value since its September 1 intraday high under the pressure of its downsloping 10-day moving average. The index is now beneath its 10-month moving average, a trendline that has offered flawless support on a monthly closing basis since August 1998.

Key components leading the MSH lower include Electronic Arts (ERTS – 43-5/8), down 14.6 percent; JDS Uniphase (JDSU – 95-1/2), down 7.3 percent; Nortel Networks (NT – 59-3/4), down 6.6 percent; Broadcom (BRCM – 242-11/16), down 5.5 percent; Tellabs (TLAB – 45-7/16), down 4.8 percent; Dell Computer (DELL – 32), down 4.8 percent; and Motorola (MOT – 28-3/8), down 4.2 percent.


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