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by 8/28/2000 11:38 AM
Stocks quoted in this article:
Despite this morning's broad-market strength, the S&P Retail Index (RLX 819.4) is in the red by more than 10 points, or over one percent. Since its near-term intraday high on July 11, the index has lost nearly 15 percent of its value, encountering stingy overhead resistance from its descending 10-day moving average. The RLX is also below all of its key intermediate-term and long-term trendlines.

Top RLX laggards so far today include Kohl's (KSS 57-3/16), down three percent; Best Buy (BBY 72-5/8), down 2.6 percent; Limited (LTD 20-5/8), down 2.3 percent; and Wal-Mart Stores (WMT 49-1/8), down 2.3 percent.

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by 8/28/2000 11:36 AM
Stocks quoted in this article:
Eli Lilly (LLY 75-3/8) is fractionally lower in late-morning trading, but it recorded its worst intraday mark since June 9 earlier today. The stock continues to trade below all of its significant moving averages, as it is still feeling the effects of the August 9 court ruling that overturned a previous patent decision on the company's prescription antidepressant Prozac.

In LLY's options pit this morning, 1,599 contracts have crossed the tape on the near-the-money April 75 put. This at-the-money option has open interest of 660 contracts, so some of today's volume should translate into new positions. This is currently one of the most-active puts on the PHLX.


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by 8/28/2000 11:22 AM
Stocks quoted in this article:
Carnival Cruise Lines (CCL 21-3/16) is the world's largest cruise ship operator, managing 35 ships within five cruise lines. The company's treks are mainly to the Caribbean, although it sails everywhere in the world. This morning, CCL announced that it will have to cancel two cruises for ship maintenance. Separately, the firm announced plans to buy the remaining 50-percent stake in Costa Crociere for $525 million in cash. CCL already owns half of the European travel company.

CCL said this purchase will not affect the bottom line, although the aforementioned cancellation of two seven-day voyages will shave a penny off fourth-quarter earnings per share. Analysts are presently expecting the company to report 40 cents per share for the fourth quarter. The stock is trading slightly lower in late-morning activity.
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by 8/28/2000 10:18 AM
Stocks quoted in this article:
On Friday, online business consulting name Sapient (SAPE 110-1/4) moved ahead by more than three points, though it remains below its 10-day and 20-day moving averages. The stock last closed a session above both of these short-term trendlines on August 9. The shares also finished last week's trading beneath their 10-week moving average for the first time in two-and-a-half months.

This morning, SAPE gapped 1-7/16 points higher in anticipation of the company's planned two-for-one stock split, which will occur after today's closing bell. However, the security is currently lower by over one point.

Another major name that will split its stock two for one later this week is Merrill Lynch (MER 140-1/8), whose split will be effective on Friday.


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by 8/25/2000 3:40 PM
Stocks quoted in this article:
In today's trading, pharmaceutical services provider Caremark Rx (CMX 9-3/8) has notched its highest intraday mark since early June 1998, stepping up by over two percent. This climb comes a session after the stock's eight-percent advance in Thursday's trading. The shares are trending above all of their significant moving averages.

On the options front this afternoon, it appears that some investors believe that CMX has more downside potential. The out-of-the-money October and December 7-1/2 puts have been active on volume of 1,000 and 2,000 contracts, respectively. The October 7-1/2 put has no open interest, while put open interest at the December 7-1/2 strike stands at 349 contracts. This indicates that nearly all of today's volume will likely translate into new open interest. These are currently among the most-active puts on the PHLX.

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