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by 6/7/2000 1:56 PM
Stocks quoted in this article:
Stocks have been trading in a relatively narrow range today. The S&P 500 Index (SPX - 1464.80) is up nearly seven points. Currently on the NYSE, 1,409 advancing issues are surpassing 1,379 decliners, while 524 equities are unchanged. Up volume of 266,811,410 shares is greater than down volume of 242,364,600 shares. New highs are ahead of new lows, 46 to 26. The Nasdaq Composite (COMP - 3769.4) has stepped up by just over 13 points. The 1,965 advancing securities are outpacing the 1,861 decliners. Up volume of 458,502,700 shares is exceeding down volume of 373,343,600 shares. However, new lows own a 37-to-30 advantage over new highs.<
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by 6/7/2000 1:51 PM
Stocks quoted in this article:
SBC Communications (SBC - 46-1/8) provides communications services in the United States and other countries. For the past three months, the stock has been confined in a trading range between the 42 and 46 levels. Currently, SBC is trading just above the top end of the range and is up more than one percent on the day. Option activity is heavy on the put side today. Overall, 1,500 out-of-the-money October 45 put contracts crossed the tape in three large block transactions. This is presently the most-active put contract on the ISE.
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by 6/7/2000 1:40 PM
Stocks quoted in this article:
The Nasdaq Composite (COMP - 3765.4) and the S&P 500 Index (SPX - 1463.21) are up marginally in today’s trading. Nineteen of 35 sector indices are in positive territory. The following are the top four performing indices today: the AMEX Securities Broker/Dealer Index (XBD - 489.84), up 2.8 percent; the AMEX Tobacco Index (TOB - 200.65), up 2.0 percent; the AMEX Airline Index (XAL - 165.78), up 1.8 percent; and the PHLX KBW Banking Index (BKX - 861.78), up 1.7 percent. The four indices showing the most weakness are: the PHLX Gold and Silver Index (XAU - 59.99), down 3.4 percent; the PHLX Forest and Paper Products Index (FPP - 281.42), down 2.8 percent; the AMEX Biotechnology Index (BTK - 575.1), down 1.6 percent; and the Morgan Stanley Cyclical Index (CYC - 508.57), down 1.4 percent.<
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by 6/7/2000 12:19 PM
Stocks quoted in this article:
The S&P Retail Index (RLX - 880.3) is in positive territory by a modest margin, currently up just under eight points. Circuit City Group (CC - 38-5/8) announced yesterday that its same-store sales for May were flat. This caused a 24-percent drop in CC on Tuesday, and this news has weighed on other electronics retailers again today. The RLX dramatically lagged the S&P 500 Index (SPX - 1465.54) during the past five trading days, posting returns of 7.8 percent versus a 13.1-percent return for the SPX. Of the components in the RLX, 22 of 36 are higher today, while two posted new annual lows. The stocks weighing most heavily on the RLX today are Bed Bath & Beyond (BBBY - 34-5/16), down 3.51 percent; Lowe's Companies (LOW - 45-1/2), down 3.45 percent; Best Buy (BBY - 64-5/8), down 2.91 percent; CVS Corp. (CVS - 37-7/8), down 2.57 percent; and Longs Drug Stores (LDG - 19-3/16), down 2.23 percent.
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by 6/7/2000 11:45 AM
Stocks quoted in this article:
Gemstar International Group (GMST - 53-3/8) is seeing notable option activity on the July 55 call today. More than 3,300 contracts have traded on this out-of-the-money option this morning versus open interest of 415 contracts. These are almost certainly new positions. Based upon the block executions near the bid price, these are likely new sells at this strike. The seller is anticipating that GMST will not climb above the 55 mark by July expiration for maximum profitability in either an uncovered or covered call scenario. The stock is currently up over three percent.<
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