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MORNING UPDATE: Man Securities Issues Alerts for BRCD, ANDW, DAL,
TSG, and MLNM
CHICAGO, Oct. 29 /PRNewswire/ -- Man Securities issues the following Morning
Update at 8:30 AM EDT with new PriceWatch Alerts for key stocks.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020214/MANSECLOGO )
Before the open... PriceWatch Alerts for BRCD, ANDW, DAL, TSG, and MLNM, Market
Overview, Today's Economic Calendar, and the Quote Of The Day.
QUOTE OF THE DAY
"No matter how you slice it, you have to be very ecstatic the market is flat
given the gains we've had in the last two days."
-- Matt Ruane, director of U.S. equities, Calyon Securities
New PriceWatch Alerts for BRCD, ANDW, DAL, TSG, and MLNM...
PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS -----------
-- Brocade Communications Systems Inc. (NASDAQ:BRCD)
Last Price 6.80 - JAN 6.00 CALL OPTION@ $1.05 -> 4.3 % Return assigned*
-- Andrew Corp. (NASDAQ:ANDW)
Last Price 13.91 - JAN 12.50 CALL OPTION@ $2.00 -> 5 % Return assigned*
-- Delta Air Lines Inc. (NYSE:DAL)
Last Price 5.72 - NOV 5.00 CALL OPTION@ $1.15 -> 9.4 % Return assigned*
-- Sabre Holdings Corp. (NYSE:TSG)
Last Price 21.10 - JAN 20.00 CALL OPTION@ $2.05 -> 5 % Return assigned*
-- Millennium Pharmaceuticals Inc. (NASDAQ:MLNM)
Last Price 12.65 - JAN 12.50 CALL OPTION@ $1.20 -> 9.2 % Return
assigned*
* To learn more about how to use these alerts and for our FREE report, "The 18
Warning Signs That Tell You When To Dump A Stock ", go to:
http://www.investorsobserver.com/mu18
(Note: You may need to copy the link above into your browser then press the
[ENTER] key)
** For the FREE report, "Is Your Investment Portfolio Disaster Proof? -
Insights, Stocks, And Strategies." go to:
http://www.investorsobserver.com/FREEDP
NOTE: All stocks and options shown are examples only. These are not
recommendations to buy or sell any security.
MARKET OVERVIEW
Overseas markets are mostly positive today. The European markets appear to be
mostly in the green with the Asian market taking an opposing stance. China's
interest rate is on center stage affecting markets all across the globe. The
FTSE failed to rally on this news as the drop in oil prices pushed down oil
shares offsetting advances in other sectors. The Hong Kong HSI dropped as
Beijing raised interest rates for the first time in nearly a decade. While the
rate hike was small, the markets magnified the impact forcing down Hong Kong
blue chips. This rate increase also affected Singapore's Straits Times Index,
forcing shares to retreat as businesses and analysts try to evaluate the
impact.
The November contract on sweet crude oil fell $1.54 yesterday on the New York
Mercantile Exchange. While the Chinese interest-rate hike is expected to ease
some of the energy demand in that country's wildly expanding economy it has
also sparked the sharp fall in oil prices. Heating oil also fell, losing 4.23
cents to close at $1.4532 a gallon. November unleaded gasoline fell 4.29 cents
to $1.2932 a gallon.
Be prepared for the investing week ahead with Bernie Schaeffer's FREE Monday
Morning Outlook. For more details and to sign up, go to:
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DYNAMIC MARKET OPPORTUNITIES
The so-called "quiet period" before a company prepares to start trading
publicly on the stock market is sometimes a confusing issue. It's this rule
that landed Google in trouble with the SEC before it went public. In that case,
its founders gave an interview to Playboy magazine beforehand and were later
accused of "hyping" the stock. While this rule stops companies from
artificially pumping stocks, it often means that small time investors have less
access to the information that institutions have at their fingertips. So the
SEC has proposed to loosen the strings on the so-called "quiet period"
surrounding stock offerings. At the moment, SEC rules temporarily limit what a
company can say after filing for an IPO. The proposal, if passed, could allow
companies to release more news and information than before. Elsewhere, the
People's Bank of China broke a nine-year streak and lifted the one-year
interest rate from 5.31% to 5.58% - the first hike since 1995, and a move that
will take effect from today. It's a good move too. The rampant pace of economic
growth is such that it's putting a pretty severe strain on the infrastructure,
with folks having to contend with energy shortages. The decision follows
earlier measures to slow an economic growth rate of 9.8%, 9.6% and 9.1% in the
first three quarters of 2004 respectively by cutting back investment spending
and demanding banks to limit their lending. It also comes as the inflation rate
edges its way ever closer to a seven-year high of 5.3%. Inflation was up 5.2%
in the year to September.
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network of leading investment exports. Simply follow this link:
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TODAY'S ECONOMIC CALENDAR
8:30 a.m.: Third Quarter Employment Cost Index (last plus 3.9 percent)
8:30 a.m.: Third Quarter Advanced (first of three estimates) Gross
Domestic Product (GDP)
9:45 a.m.: October Final University of Michigan Sentiment (seen at 94.2
versus preliminary reading of 87.5)
10:00 a.m.: October Chicago Purchasing Mgmt Index (last 61.3)
1:00 p.m.: Chicago Federal Reserve President Moscow speaks before "2004
Headquarters and Cities Agenda" in Chicago
2:00 p.m.: Federal Reserve Vice Chairman Ferguson speaks on the neutral
interest rate at University of Connecticut Business School in
Hartford
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All stocks and options shown are examples only. These are not recommendations
to buy or sell any security and they do not represent in any way a positive or
negative outlook for any security. Potential returns do not take into account
your trade size, brokerage commissions or taxes which will affect actual
investment returns. Stocks and options involve risk and are not suitable for
all investors and investing in options carries substantial risk. Prior to
buying or selling options, a person must receive a copy of Characteristics and
Risks of Standardized Options available from Sharon at 800-837-6212 or at
http://www.cboe.com/Resources/Intro.asp. Privacy policy available upon request.
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DATASOURCE: Man Securities
CONTACT: Michael Lavelle of Man Securities, +1-800-837-6212
Web site: http://www.mansecurities.com/mu.html