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by 12/11/2000 1:11 PM
Stocks quoted in this article:
In a meeting with analysts this morning, executives at pharmaceutical giant Pfizer (PFE - 42-1/4) expressed confidence that the firm can sustain its growth and maintain its position as one of the dominant consumer healthcare companies. The meeting was not completely filled with bullish projections, as the firm now estimates that 2000 earnings will come in roughly $1.5 billion below the initial target of $31 billion.

Technically speaking, the stock has been confined in a trading range between the 42-1/2 and the 45-1/2 levels since late September. In early-afternoon trading, PFE is back above its 20-day moving average and is up 1.15 percent on the day.
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by 12/11/2000 12:48 PM
Stocks quoted in this article:
The uncertainty surrounding this Presidential election has claimed another victim. This morning, home improvement retailer Lowe's (LOW - 40-1/4) announced that fourth-quarter same-store sales and earnings per share should come in below projections because of a slowdown in most of its product offerings. The firm cited the election mess and overall stock market turmoil as additional factors that have negatively impacted sales. After gaping four percent lower on the open, LOW mounted a swift recovery and is currently trading up one percent on the day. <
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by 12/11/2000 11:56 AM
Stocks quoted in this article:
With Abby Joseph Cohen and other advisors recommending the purchase of small to mid-cap stocks, here is a lesser-known pharmaceutical company that quietly reached a new high Friday. King Pharmaceuticals (KG – 54-13/16) is a vertically integrated developer, manufacturer, marketer, and seller of branded prescription drugs. The company also provides contract manufacturing for other suppliers.

KG formed a cup-and- handle formation on its chart from July through November and then broke out Friday to reach a new high of 53-3/8 on heavy volume. The stock continues to soar even higher today. Since it is well extended above its 10-day and 20-day moving averages, prospective purchasers may want to wait for a slight pullback to enter.

Options traders have taken little notice of the company. Less than 100 contracts of any particular option traded Friday and no December option has more than 500 contracts open interest.
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by 12/11/2000 9:36 AM
Stocks quoted in this article:
KeySpan (KSE – 40) has injected a breath of fresh air (albeit natural gas) into the negative earnings environment. This distributor of natural gas and marketer of energy services reported early this morning that it is raising its earnings projection for the year 2000 to $2.40 per share, versus the current consensus of $2.28. The company also sees year 2001 net up by 10 percent.

The shares have been on a choppy ascent since bottoming around 20 this past March and are currently trading near all-time high levels. There still exists potential for the shares to continue higher on the positive news, above and beyond what the market has already discounted.

Short sellers have begun to liquidate their positions, as short interest for the most recent reporting period decreased by over 26 percent. The stock still shows a short interest ratio of 6.78 (indicating that almost seven days would be required to cover all short positions at the stock's current average daily trading volume.)

Options investors have been absent on KSE trading, as total open interest stands at just 1,847 open contracts (215 put open contracts versus 1,632 call open positions.) <
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by 12/11/2000 9:31 AM
Stocks quoted in this article:
The AMEX Networking Index (NWX - 921.9) is intriguing from a short-term technical perspective. Over the past three months, the NWX has been in a steady descending trend guided lower by its overhead 10-day and 20-day moving averages. However, while the index failed at its overhead 20-day moving average early last week, the subsequent decline was supported by the now rising 10-day moving average. Last Friday the index made its first close back above its 20-day moving average since November 7, which was Election day.
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