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by 8/1/2000 11:00 AM
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Although it anticipates meeting analysts' earnings estimates for the third quarter, software name Synopsys (SNPS - 30-1/2) said that it expects to report a loss of 45 cents per share in the fourth quarter when the company adopts a new revenue model that will change its product-licenses sales. Analysts had expected SNPS to earn 77 cents per share in the fourth quarter. The stock has plunged six percent in morning trading to reach its lowest level since October 1998. Action has picked up in SNPS's options pit. The August 30 and 35 calls and the August 25 and 35 puts have all seen volume of over 400 contracts in activity that is likely related.
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by 8/1/2000 9:19 AM
Stocks quoted in this article:
The markets seem to be taking today's personal income and spending news in stride. There were no major surprises, but consumers are doing what they do best - consuming. Personal income rose 0.4 percent in June versus the consensus estimate of 0.6 percent. However, personal spending went up slightly faster than expected at 0.5 percent for June versus the estimate of a 0.4-percent rise. One of the bright spots from last Friday's Gross Domestic Product report was that consumers were slowing their buying binge. Today's numbers do not materially alter this view, but show that consumers are still doing their part to keep the economy growing. The September U.S. Treasury Bond Futures contract (US/U0 - 98-31/32) is higher by 12/32 and September S&P 500 Index Futures contract (SP/U0 - 1440.20) is higher by 1.30, indicating a slightly positive open.
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by 8/1/2000 9:06 AM
Stocks quoted in this article:
Today, BP Amoco (BP - 52-5/16) changed its stock symbol from BPA to BP. In order to reflect this underlying stock symbol change, the BPA option symbol will change to BP this morning as well. However, options symbols for the January 2002 (WAO) and 2003 (VAO) LEAPS will remain the same, and strike prices and all other option terms have not changed. The security finished yesterday's trading down more than two percent, closing right on its 10-day moving average and snapping a four-session winning streak. The shares are now sitting back below their 20-month moving average. Investors are showing pessimism toward BP, as its Schaeffer's put/call open interest ratio (SOIR) now stands at 2.54, which is higher than all such readings taken over the past year. For more information about SOIR, please visit Schaeffer's Daily Sentiment.<
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by 8/1/2000 8:38 AM
Stocks quoted in this article:
An improved showing overnight followed a sharp snap-back rally in technology stocks; however, the buying spillover to other sectors was less dramatic. Eleven of 18 world markets are higher thus far. On average, the overseas markets rose 0.43 percent. The top four major markets and their respective returns are Japan (NIKKEI - 16099.7), up 2.37 percent; Ireland (ISQND - 5098.7), up 2.26 percent; Denmark (CSIND - 311.23), up 1.84 percent; and Japan (TOPIX - 1479.8), up 1.84 percent. The bottom four major markets and their respective returns are Finland (HEXND - 13823), down 0.81 percent; Sweden (AFFND - 5739), down 0.71 percent; Belgium (BELND - 3050.4), down 0.59 percent; and Germany (FRIND - 7149), down 0.57 percent.<
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by 7/31/2000 3:56 PM
Stocks quoted in this article:
Shares of beleaguered BMC Software (BMCS - 18-7/8) are getting a much-needed boost today on news that a U.S. district court dismissed a class-action lawsuit against the company. The company said it was informed by the plaintiff's attorneys that the dismissal would not be appealed. The suit alleged improper accounting practices in the company's purchase of BGS Inc. After hitting its lowest level in four years last week, the stock is up over eight percent so far today. Despite the equity's poor technical performance, its Schaeffer's put/call open interest ratio (SOIR) has plunged from a high of 1.42 in late June to today's reading of 0.55. This rising optimism amid a downtrend suggests that BMCS may have more downside in store over the near term. For more information on SOIR, please visit Schaeffer's Daily Sentiment.<
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