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by 8/8/2000 10:31 AM
Stocks quoted in this article:
This morning, consumer-products name Dial (DL - 11-5/8) said it will likely fall short of full-year earnings estimates for 2000 of 77 cents per share. The company also announced that CEO Malcolm Jozoff had resigned. The stock is off almost nine percent in reaction to this news. The equity has been losing steady ground over the past year. Since its all-time high from early July 1999, the security has relinquished almost 70 percent of its value. Not surprisingly, options players are taking a pessimistic view of DL. Its Schaeffer's put/call open interest ratio (SOIR) is sitting just a chip shot away from an annual high. For more information on SOIR, please visit Schaeffer's Daily Sentiment.
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by 8/8/2000 10:30 AM
Stocks quoted in this article:
Last night, office supply retailer Staples (SPLS - 17-11/16) said that it expected second-quarter earnings to come in a penny ahead of analysts' estimates of nine cents per share, thanks in part to a lower-than-expected loss from its Internet unit. The news sparked a major brokerage firm to upgrade the stock from a near-term "accumulate" to a near-term "buy." The shares are up over 15 percent in response to this news. Today's jump has the stock trading above its descending 20-week moving average, a trendline that has served as resistance during the equity's five-month, 35-percent downtrend. SPLS has not closed above its 20-week moving average since mid-February. Option activity is moderate in response to today's earnings preannouncement. The August 17 call has seen 400 contracts cross the tape, while the September 17-1/2 call has registered volume of 335 contracts.<
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by 8/8/2000 9:22 AM
Stocks quoted in this article:
Yesterday, Siebel Systems (SEBL - 164-3/16) announced its intention to buy OnLink Technologies in a stock deal valued at $609 million. OnLink's software provides interactive guidance and tailored recommendations for online shoppers. SEBL plans to integrate OnLink's technology with its applications for interactive selling, marketing, and customer service. The company also declared its plans for a two-for-one stock split payable on September 8 to shareholders of record on August 18. The shares finished Monday's trading fractionally higher, obtaining support from their 20-day moving average. This morning, the security is currently poised to open nearly four points higher.
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by 8/8/2000 9:22 AM
Stocks quoted in this article:
This morning, retail names Dollar General (DG - 19) and OfficeMax (OMX - 4-1/16) both reported their second-quarter earnings. DG met Street earnings expectations at 12 cents per share, while OMX also came in at analysts' earnings projections of a loss of 22 cents per share. In anticipation of this news, DG stepped up by just over two percent on Monday, finishing above its downtrending 10-day moving average for the first time in three weeks. The equity has also risen back above its intermediate-term moving averages as well as its 10-month trendline. OMX, though, was unchanged in yesterday's activity, as it continued to encounter overhead resistance from its descending 10-day moving average. The shares are presently perched beneath all of their significant trendlines.<
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by 8/8/2000 8:51 AM
Stocks quoted in this article:
KeySpan (KSE - 33-7/8) will be inducted into the S&P 500 Index (SPX - 1479.32), replacing New Century Energies (NCE - 38-1/8), which will be acquired by Northern States Power (NSP - 24-3/4), pending SEC approval. KSE itself was formed out of a merger of Long Island Lighting and the old KeySpan Energy Company in June 1998. KSE has been averaging a little over 353,000 shares in daily trading volume. Option activity is practically non-existent as illustrated by the current total open-interest configuration of 1,922 calls versus 253 puts. Just seven contracts traded yesterday. The security traded as high as 38 in after-hours trading.
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