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by 7/19/2000 4:46 PM
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After today's close, IBM (IBM - 103-1/2) released second-quarter earnings of $1.06 per share, beating Street estimates by six cents per share. Net revenue came in at $1.9 billion versus $1.7 billion in the year-ago period. The company also stated that it is "encouraged" about the second half of the year. Technically speaking, IBM closed back above its descending 10-day moving average. In 2000, the stock is down 3.5 percent.<
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by 7/19/2000 4:24 PM
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Internet security provider Check Point Software Technologies (CHKP - 224-1/2) released second-quarter earnings after the close of trading. The firm reported an upside surprise of 50 cents per share versus analysts' estimates of 42 cents per share. Investors were apparently concerned about CHKP's potential results, as the stock declined roughly 10 percent today to close at its 20-day moving average. <
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by 7/19/2000 3:43 PM
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This morning, Coca-Cola (KO - 60-7/16) announced second-quarter earnings of 44 cents per share, topping Street estimates of 41 cents per share. This news has the stock penetrating the 60 level, an area that had given the shares some difficulty recently (for more on this, check out our Market Observation from yesterday). Options players are showing a preference for calls in KO's options pit today, as total call volume amounts to over 9,000 contracts, compared to only 4,000 contracts in put volume.<
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by 7/19/2000 3:43 PM
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Apple Computer (AAPL - 52-9/16) is down over eight percent in late trading. Yesterday after the close, the company revealed that its fiscal third-quarter earnings came in at 45 cents per share, a penny ahead of expectations. However, revenue fell just shy of analysts' estimates. The stock had appreciated by over 40 percent from its June 1 low, but today's plunge takes AAPL back down to its ascending 10-month moving average. This long-term trendline has contained all but one daily close since December 1997. AAPL's options configuration is slanted toward the put side, as put open interest exceeds call open interest by 23 percent for options expiring within the next three months.
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by 7/19/2000 3:37 PM
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Eyewear maker Bausch & Lomb (BOL - 61-11/16) announced this morning that its second-quarter earnings met Street predictions at 74 cents per share. The company also reported that its sales for the quarter were relatively unchanged and were about $20 million less than what some analysts had expected. BOL gapped 11-5/16 points lower at the open and is presently in negative territory by nearly 22 percent. The equity is now trading at levels not seen since May 10, as it is perched beneath all of its significant short-term and intermediate-term trendlines as well as its 10-month moving average. The shares have not finished a week below their 20-week trendline since late April. The July 70 call is the most-active BOL option this afternoon on volume of 400 contracts.
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