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by Beth Gaston 12/9/1999 12:11 PM

Stocks quoted in this article:

Last night, home-improvement products retailer Home Depot (HD - 86-5/8) announced plans to expand its sales of major appliances. This move will likely spur more direct competition in this arena with the likes of Sears (S) and Best Buy (BBY). The Street seems to look favorably upon this strategic venture, as the stock has rallied 2.7 percent already today and has reached a new all-time high at 86-15/16. On the options front, HD has seen some minor call activity in the front-month and back-month series.
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by 12/9/1999 11:56 AM

Stocks quoted in this article:

In recent Market Bytes and Market Observations we've noted that the oil services group has continued to be viewed optimistically by the speculative crowd even in the face of its relative underperformance. When these "high expectations" stocks are hit with bad news the results can be devastating. Today Baker Hughes (BHI - 16-13/16) is down approximately 25 percent after the company disclosed they have uncovered accounting irregularities in one of their units. Several brokerage houses have responded by lowering their ratings on the shares.
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by 12/9/1999 10:43 AM

Stocks quoted in this article:

IBM (IBM - 120-1/16) shares are continuing to rise today, currently trading up two points. Yesterday we mentioned put activity in the December options series and today we're seeing more of the same. The December 120 put is trading on volume of 2,310 with the open interest only standing at 2,351. This particular option's volume today is higher than any one option in the December series.
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by 12/9/1999 10:05 AM

Stocks quoted in this article:

The Nasdaq 100 Trust (QQQ - 160-3/8) closed at 157-3/4 yesterday, and today, opened at the 160 level. Currently, this Trust is trading 2-5/8 points higher. For the past four days, the QQQ has been trading in a range between 157 and 160. In a Market Observation yesterday, we talked about this range along with put activity building at the December 158 strike. The old high for the QQQ is at 161.<
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by Beth Gaston 12/9/1999 9:22 AM

Stocks quoted in this article:

This morning, Eastman Kodak (EK - 60-1/2 ) announced plans to boost its stock buyback program for 1999 to $900 million from $700 million. The firm plans to use cash earned from recent sales of two of its units to fund this effort. As of last month, EK boasted 315.6 million outstanding shares. Company officials went on to assert their confidence for the future, and noted that this $2 million increase was a fraction of the company's grand $2 billion stock buyback program. Yesterday, 5,000 contracts traded on both the January 75 and 80 puts. Large blocks were executed as a spread trade between the two strikes. <
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