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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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by 7/31/2000 3:56 PM
Stocks quoted in this article:
After notching an all-time high on June 22 right at the 100 mark, Analog Devices (ADI - 66-3/4) has shed roughly a third of its value. However, the stock is bouncing higher off its supportive 10-month moving average in today's trading. This long-term trendline has contained all pullbacks in the shares since December 1998. Pessimism is running high toward ADI, as its Schaeffer's put/call open interest ratio (SOIR) stands higher than all but five percent of the readings taken over the past year. ADI's options pit has been active today. A series of related positions were taken on the August 65 and 75 puts, which have logged volume of 2,620 and 2,500 contracts, respectively, making them two of the most-active puts on the PHLX. <
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by 7/31/2000 2:15 PM
Stocks quoted in this article:
The unlikely couple Qualcomm (QCOM - 64-5/8) and Ford Motor (F - 46-11/16) have joined forces today, and the news has given both the telecommunications name and the automaker a boost. The two companies announced a joint venture called Wingcast, which will offer Internet and voice services, as well as added safety features, in F vehicles. Both equities are seeing moderate option activity, particularly on the call side. In mid-afternoon trading, QCOM had posted a 3.5-percent gain, while F was trading over one percent in the black. Today's boost has taken F directly to the underside of its 20-day moving average, while QCOM is similarly pressing up against its 10-day trendline.
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by 7/31/2000 2:14 PM
Stocks quoted in this article:
With the Nasdaq Composite (COMP - 3727.1) up by more than 64 points and the S&P 500 Index (SPX - 1432.18) ahead by over 12 points today, 29 of the 38 sector indices are in positive territory. The top four performing indices this afternoon are the PHLX Semiconductor Index (SOX - 992), up 3.6 percent; the AMEX Airline Index (XAL - 167.99), up 3.2 percent; the AMEX Networking Index (NWX - 1252.8), up 2.8 percent; and the AMEX Disk Drive Index (DDX - 80.78), up 2.7 percent. The four indices showing the most weakness are the S&P Retail Index (RLX - 858.6), down 2.7 percent; the AMEX Biotechnology Index (BTK - 592.6), down 2.1 percent; the PHLX Oil Service Sector Index (OSX - 113.61), down 1.3 percent; and the PHLX Gold and Silver Index (XAU - 50.75), down 1.1 percent.
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by 7/31/2000 2:12 PM
Stocks quoted in this article:
Today is shaping up as a pleasant respite from Friday's selling barrage. The S&P 500 Index (SPX - 1434.65) is up 1.04 percent. Currently on the NYSE, 1,493 advancing issues are surpassing 1,219 declining issues, while 557 issues are unchanged. Up volume of 344,484,384 shares is beating down volume of 199,055,936 shares. The 52 new highs are outpacing the 38 new lows. The Nasdaq Composite (COMP - 3736.2) is ahead by two percent. Advancing Nasdaq issues of 1,940 are outdistancing the 1,911 declining issues, while 628 issues are unchanged. Up volume of 639,859,008 shares is leading down volume of 303,632,608 shares. The 31 new highs, though, are being trounced by the 120 new lows.
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