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by 10/12/2000 3:35 PM
Stocks quoted in this article:
The S&P Insurance Index (IUX – 731.43) has ebbed by over 26 points, or greater than three percent, in late-afternoon activity. The IUX has encountered stingy overhead resistance today from its 20-day moving average. Furthermore, the index is resting just below its 10-week moving average, a trendline that has offered flawless support on a weekly closing basis since the end of June.

IUX components experiencing the most weakness today are Progressive (PGR – 70-15/16), down 10.2 percent; Lincoln National (LNC – 42-1/2), down 8.3 percent; Hartford Financial Services Group (HIG – 65-1/4), down 8.1 percent; Conseco (CNC – 5-15/16), down 6.8 percent; and Jefferson-Pilot (JP – 60-11/16), down 5.5 percent.


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by 10/12/2000 2:36 PM
Stocks quoted in this article:
Hasbro (HAS – 9-3/4) is the number-two manufacturer of toys and games in the country. HAS controls many popular brands such as Nerf, Tonka, Play-Doh, and G.I. Joe. The company also offers Pokemon trading cards and a number of board games under the Milton Bradley and Parker Brothers brands.

Things aren't all fun and games for HAS today, as the equity has plunged over 16 percent to make a nine-year low in single-digit territory. This morning, HAS said its third-quarter earnings would come in between six and 10 cents per share, a significant drop-off from 1999, when the company earned 43 cents per share for the same time period. Analysts were expecting HAS would earn 32 cents per share. Furthermore, the company said it plans to lay off five percent of its workforce and close a number of plants. HAS is scheduled to announce earnings later this month.
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by 10/12/2000 2:08 PM
Stocks quoted in this article:
Synplicity (SYNP – 11-1/8) manufactures software that helps companies design integrated circuits for the telecommunications and electronics fields. Some of the firm's clients include Nokia, Cisco Systems, and Lucent Technologies.

Today, the stock was initiated into its "public" life, as it began trading this morning on the Nasdaq Exchange in an initial public offering underwritten by Robertson Stephens. The offering, which released 4.3 million shares to the public, set the initial price at $8 per share. In mid-afternoon activity, SYNP has moved over 37 percent higher off this initial price. However, analysts had prior estimates that the shares would be originally priced at $10 to $12. Company officials had hoped to raise $51.6 million, but the IPO has only harvested $34.4 million.
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by 10/12/2000 2:08 PM
Stocks quoted in this article:
WebMD (HLTH – 8-13/16), formerly known as Healtheon/WebMD, provides medical and administrative information over the Internet. The stock debuted with much fanfare in February 1999, launching on the Nasdaq Exchange around the 220 mark and running to 395 by early April 1999. The equity settled considerably lower later that month, however, and has continued a slow burn lower since hitting a short-term peak of 70 in January.

Today, the security has taken an eight-percent battering, marking an all-time low in single-digit territory. This morning, the firm announced that one of its co-chief executive officers tendered his resignation, leaving a sole executive at the helm. Reasons for this departure were not given. <
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by 10/12/2000 12:14 PM
Stocks quoted in this article:
Last night after the close, motorcycle producer Harley-Davidson (HDI – 43-1/4) announced third-quarter earnings per share of 27 cents, topping analysts' estimates by a penny per share. Additionally, HDI officials said that sales in the third quarter climbed by nearly 16 percent.

This news notwithstanding, the equity has declined sharply today, shedding seven percent and breaking through support at its 20-week moving average. HDI has not traded below this trendline since late June.

Yesterday, HDI saw above-average activity in its options pit, as nearly 900 contracts changed hands on the October 45 put. This boosted open interest at the front-month strike from 991 to 1,951 contracts. This is now the site of heaviest put open interest on HDI. <
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