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by 9/26/2000 9:25 AM
Stocks quoted in this article:
Also on the earnings front, National Discount Brokers (NDB – 31-13/16) announced this morning that its first-quarter earnings came in at a loss of six cents per share, besting analysts' projections of an eight-cents-per-share setback. The security remains beneath all of its significant short-term and intermediate-term moving averages.

According to the latest information from Multex, NDB remains relatively unknown on Wall Street. There are only four brokers currently covering the equity, including one who rates it as a "hold." Any new positive coverage or an upgrade resulting from today's positive earnings surprise could give the shares a boost.


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by 9/26/2000 9:24 AM
Stocks quoted in this article:
After yesterday's closing bell, Cabletron Systems (CS – 31-1/4) reported second-quarter earnings of a penny per share, which surpassed Street expectations calling for a loss of a penny per share. In after-hours trading after the company posted its positive earnings surprise, the stock shot up by eight percent. This follows the shares' one-percent gain on Monday that lifted them above their 10-day moving average for the first time since September 7. CS is also trading back above its 10-week trendline.

Information from Schaeffer's Daily Sentiment indicates that investors are showing increased pessimism toward CS. On August 29, Schaeffer's put/call open interest ratio (SOIR) on the issue stood at 0.22, which is lower than its current reading of 0.34. During this time frame, total call open interest for options expiring within the next three months has decreased by 4,881 contracts, while put open interest has risen by 1,545 contracts.

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by 9/26/2000 9:21 AM
Stocks quoted in this article:
Last night, Protein Design Labs (PDLI – 118-1/2) announced a secondary public offering of three million shares at 118-7/16. The equity is set to open fractionally higher, continuing a near-term rally that has seen the shares nearly double in value since July 31.

Open interest on PDLI is moderate, and it has a clear bias to the put side. Its Schaeffer's put/call open interest ratio (SOIR) stands at 2.13, which means that there are over two open puts for every open call. This extreme pessimism amid a solid rally has bullish implications for the near term. For more information on SOIR, please visit Schaeffer's Daily Sentiment.
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by 9/26/2000 9:21 AM
Stocks quoted in this article:
Alliance Semiconductor (ALSC – 20-1/8) said this morning that it expects to post second-quarter earnings of 19 to 21 cents per share, better than analysts' estimates of 18 cents per share. The stock is poised to open over six percent higher on this news. This should help the shares in their effort to overtake their downtrending 10-day moving average.

ALSC has not shown up on Wall Street's radar screen. According to the latest information from Zacks Online, only two analysts cover the security. Any new positive coverage is likely to give the shares an added boost.
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by 9/26/2000 9:14 AM
Stocks quoted in this article:
There's been another shake-up in the S&P indices as a result of Hellmann's parent Bestfoods (BFO – 72) being acquired by Unilever (UN – 45-7/8). Taking BFO's free spot in the S&P 500 Index (SPX – 1439.03) is Dynegy (DYN – 54-5/8), a company that markets and trades electricity, natural gas, and other power sources. In turn, DYN is exiting the S&P MidCap 400 Index (MID – 529.70) to make room for semiconductor firm LAM Research (LRCX – 21-5/8). These changes are set to transpire on Monday. LRCX is posting a seven-percent gain in pre-session activity. <
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