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by 8/18/2000 1:04 PM
Stocks quoted in this article:
Last night after the close, ADC Telecommunications (ADCT - 43-3/4) reported fiscal third-quarter earnings of 17 cents per share, two cents better than expected. This news prompted analysts' upgrades as well as one new "buy" rating. The stock bolted out of the gate, 2-5/8 points at the opening bell, but it has weakened throughout the session and has given up all of those early gains. On the options front, almost 5,000 contracts have crossed the tape on the September 40 call so far today. This option boasts open interest of 9,022 contracts.
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by 8/18/2000 12:09 PM
Stocks quoted in this article:
Battling a workers' strike and facing potential earnings shortfalls, UAL Corp. (UAL - 49-5/16), parent of United Airlines, has seen better days. Today, UAL faced more music, as four Wall Street firms reduced their third-quarter earnings-per-share estimate for the company. The quartet responsible for these downgrades consisted of: ING Barings, CIBC, Goldman Sachs, and Salomon Smith Barney. The estimate reductions ranged between 65 cents and $1.30 per share.

Despite this Wall Street backlash, UAL shares are trading marginally higher today. This suggests that these downgrades were probably already emotionally factored into the stock price. Since July 17, the shares have declined nearly 20 percent. <
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by 8/18/2000 12:01 PM
Stocks quoted in this article:
Hewlett-Packard (HWP - 109-15/16) is benefiting from a positive earning surprise from spin-off Agilent Technologies (A - 55-3/4), as HWP is currently ahead by more than two percent in early afternoon activity. The stock, though, remains beneath all of its significant short-term and intermediate-term moving averages. However, the shares have yet to breach their 10-month moving average, which has contained all monthly closes by this blue-chip name since October.

In HWP's options pit on Thursday, the in-the-money August 105 call saw its open interest rise from roughly 900 to 2,400 contracts. In addition, open interest on the out-of-the-money September 120 call increased from about 1,300 to 2,500 contracts.

On the options front today, 2,242 contracts have crossed the tape on the November 145 call. This deep-out-of-the-money option has open interest of just 462 contracts, indicating that most of this morning's volume should become new positions. Currently, this is the most-active call contract on the International Securities Exchange.<
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by 8/18/2000 11:56 AM
Stocks quoted in this article:
MarchFirst (MRCH - 23-1/8) has retreated by more than two points, or nearly 10 percent, in this morning's trading. This setback has the shares poised to snap their four-session winning streak. Before these losses, though, the security was able to notch its highest intraday level since June 7. What's more, the equity is set to close this week's activity above its 20-week moving average for the first time since early March.

In MRCH's options pit today, the out-of-the-money September 30 call has been active on volume of 3,024 contracts and open interest of a mere 59 contracts. This is now among the most-active calls on the Pacific Exchange. Also, 1,000 put contracts have traded at the out-of-the-money November 17-1/2 strike, which has open interest of 193 contracts.<
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by 8/18/2000 11:56 AM
Stocks quoted in this article:
Brick-and-mortar bookseller Borders Group (BGP - 13-1/16) is more than two percent in the red in late-morning trading after reporting second-quarter earnings last night after the close. The company reported a loss of two cents per share, beating analysts' estimates by a penny but falling short of 1999 earnings levels for the same time period, when the retailer earned three cents per share. BGP officials did note that same-store sales climbed 3.6 percent for the quarter.

Today's decline in BGP has taken it below its ascending 10-day and 20-day moving averages. The shares had been climbing higher above these short-term trendlines since the beginning of August. From a longer-term technical perspective, the equity continues to trade beneath its significant weekly and monthly moving averages.<
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