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by 6/9/2000 11:28 AM
Stocks quoted in this article:
On Wednesday, Mead Corp. (MEA - 28-3/8) dropped to its worst intraday mark since early October 1998. The stock rose fractionally yesterday and is currently ahead by just over two percent this morning. The security, though, remains below all of its moving averages. In MEA’s options pit today, 2,030 contracts have crossed the tape on the July 30 call, and 2,100 contracts have traded on the July 25 put. The July 30 call has open interest of 100 contracts, while open interest on the July 25 put stands at just 20 contracts. As a result, almost all of today’s volume at these two out-of-the-money strikes should translate into new positions. Some of the activity appears to be paired in spread transactions. Presently, the July 25 put is among the most-active puts on the CBOE.
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by 6/9/2000 11:28 AM
Stocks quoted in this article:
Central Newspapers (ECP - 54-1/2) is on the NYSE new highs list for the second straight session. Yesterday, this publisher of the Arizona Republic and Indianapolis Star moved ahead by 20-9/16 points, or 65.41 percent, on news that it is in preliminary talks about a possible sale of the company or combination with another firm. Possible suitors are rumored to include Gannett (GCI - 61-1/4), Knight Ridder (KRI - 54-3/16), and Tribune Co. (TRB - 37-3/8). This dramatic upturn lifted ECP out of a two-month trading range that had capped the shares between the 28 and 32 levels. Today, the equity has maintained its upward momentum by stepping up 2-1/2 points, or 4.81 percent.
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by 6/9/2000 8:47 AM
Stocks quoted in this article:
This morning, the Labor Department reported that the May Producer Price Index (PPI) came in unchanged, which was below analysts' estimates of a 0.2-percent advance. The drop in the PPI can be attributed in large part to a continuing decline in energy prices. Excluding the volatile food and energy sector, however, the core index actually rose by 0.2 percent. This figure surprised many analysts, as they anticipated a more modest 0.1-percent increase in core prices. In response to the news, the September S&P 500 futures contract (SP/UO - 1499.00) is up 10 points, which indicates a strong positive open.
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by 6/9/2000 8:44 AM
Stocks quoted in this article:
With today's benign Producer Price Index report, the Nasdaq-100 Trust (QQQ - 93-1/4) is due to open sharply higher this morning. The September Nasdaq-100 futures contract (ND/U0 - 3865.0) is currently trading up 75 points from yesterday's close. A key level to watch today on the QQQ will be the 95 mark, as the June 95 call is the site of peak call open interest for the QQQ. Just under 21,700 contracts of open interest reside at this level. So far this week, the 95 level has been difficult to surmount.
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by 6/9/2000 8:32 AM
Stocks quoted in this article:
Overseas markets traded tentatively following a European rate hike and the anticipation of this morning's U.S. Producer Price Index report. Eleven of 18 world markets are higher thus far and overseas markets are up an average of 0.14 percent. The top four major markets and their respective returns are Hong Kong (HKIND - 16120), up 1.53 percent; Spain (IBEND - 10954), up 1.43 percent; Italy (MILND - 32035), up 0.63 percent; and Australia (SYIND - 3101.9), up 0.60 percent. The bottom four major markets and their respective returns are Singapore (SIIND - 2042.6), down 0.86 percent; Japan (NIKKEI - 16861.9), down 0.84 percent; Denmark (CSIND - 293.17), down 0.84 percent; and South Africa (JIIND - 8499.2), down 0.35 percent.<
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