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by 6/8/2000 2:55 PM
Stocks quoted in this article:
This morning, Terra Networks’ (TRRA - 42-9/16) shareholders approved a capital increase that will go toward financing the company’s purchase of Lycos (LCOS - 65-1/8). TRRA is down three percent on the news, and LCOS is off by just over one percent. With today’s decline, LCOS has returned to the support of its uptrending 10-day moving average. Option activity has been heavy on this Internet portal this afternoon, as 5,178 call contracts have traded at the June 70 strike. Open interest on this option stands at 5,047 contracts. Currently, this is among the most-active calls on the AMEX.
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by 6/8/2000 2:54 PM
Stocks quoted in this article:
Archer-Daniels-Midland (ADM - 11-7/8) makes food additives and ingredients for packaged-food companies. In Wednesday’s trading, the equity moved ahead by more than four percent after it was upgraded to a “market perform” from “underperform” status by a major brokerage firm. This afternoon, though, the shares are fractionally lower, encountering overhead resistance from their 10-day moving average. In ADM’s options pit today, 6,900 contracts have crossed the tape on the out-of-the-money December 15 call. Most of this volume should translate to new positions, as the option has open interest of 2,200 contracts. This is now the most-active call contract on the PHLX.
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by 6/8/2000 2:08 PM
Stocks quoted in this article:
With the Nasdaq Composite (COMP - 3853.3) up 0.4 percent and the S&P 500 Index (SPX - 1464.36) down 0.5 percent today, the sector indices are seeing mixed activity with 15 of 35 in positive territory. The following are the top four performing indices today: the AMEX Tobacco Index (TOB - 209.19), up 4.7 percent; the PHLX Oil Service Sector Index (OSX - 118.41), up 2.0 percent; the AMEX Networking Index (NWX - 1138.7), up 2.0 percent; and the PHLX Semiconductor Index (SOX - 1147.4), up 1.6 percent. The four indices showing the most weakness are: the PHLX KBW Banking Index (BKX - 843.5), down 2.0 percent; the S&P Retail Index (RLX - 857.7), down 1.8 percent; the Morgan Stanley Healthcare Payors Index (HMO - 279.13), down 1.6 percent; and the AMEX Biotechnology Index (BTK - 578), down 1.5 percent.<
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by 6/8/2000 2:07 PM
Stocks quoted in this article:
The markets are trading tentatively and without direction ahead of tomorrow's Producer Price Index report. The S&P 500 Index (SPX - 1463.63) is lower by 0.5 percent. Currently on the NYSE, 1,231 advancing issues are being eclipsed by 1,557 declining issues while 520 issues are unchanged. Up volume of 235 million shares is being crushed by down volume of 312 million shares on total volume of 567 million shares. The 35 new highs are about equal to the 36 new lows. The Nasdaq Composite (COMP - 3851.7) is up 0.33 percent. Advancing Nasdaq issues of 1,764 are falling behind 2,018 declining issues, while 672 issues are unchanged. Up volume of 490 million shares is ahead of down volume of 390 million. The 47 new highs are beating the 35 new lows. <
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by 6/8/2000 12:55 PM
Stocks quoted in this article:
The nation’s number-one grocery store chain, Kroger (KR - 18), announced a venture with Priceline WebHouse, a division of Priceline.com (PCLN - 46-1/4) this morning. The service will allow consumers to do their grocery shopping over Priceline’s Internet site. KR was trading more than 4.5 percent in the red shortly before 1:00 p.m., while PCLN shares were trading over two percent higher. PCLN shares are presently sitting atop their 10-day and 20-day moving averages. These short-term trendlines had been providing nearly constant resistance for PCLN since mid-March. Option activity on both equities is relatively sparse in early afternoon activity.
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