MORNING UPDATE: Man Securities Issues Alerts for AMD, BEV, GPS, KG, and UNM

MORNING UPDATE: Man Securities Issues Alerts for AMD, BEV, GPS,
KG, and UNM 


CHICAGO, May 6  /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 AMD, BEV, GPS, KG, and UNM, Market
Overview, Today's Economic Calendar, and the Quote Of The Day.

QUOTE OF THE DAY

"Once again, interest rates are overhanging the market. When you couple
fantastic corporate earnings, offset with geopolitical concerns and the
interest rates, you are basically stuck in a range."

  -- David Hagerty, head of equity trading, Commerzbank Securities

  New PriceWatch Alerts for AMD, BEV, GPS, KG, and UNM...

  PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS
  -- Advanced Micro Devices Inc. (NYSE:AMD)
     Last Price 14.35 - JUN 14.00 CALL OPTION@ $1.05 -> 5.3 % Return
     assigned*
  -- Beverly Enterprises Inc. (NYSE:BEV)
     Last Price 7.67 - JUN 7.50 CALL OPTION@ $0.60 -> 6.1 % Return assigned*
  -- Gap Inc. (NYSE:GPS)
     Last Price 22.65 - SEP 22.50 CALL OPTION@ $1.80 -> 7.9 % Return
     assigned*
  -- King Pharmaceuticals Inc. (NYSE:KG)
     Last Price 16.94 - JUN 15.00 CALL OPTION@ $2.75 -> 5.7 % Return
     assigned*
  -- UnumProvident Corp. (NYSE:UNM)
     Last Price 15.93 - SEP 15.00 CALL OPTION@ $1.85 -> 6.5 % 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, "The Secrets of Smart Election Year Investing -
Insights, Stocks, And Strategies." go to:
http://www.investorsobserver.com/FREEelection

NOTE: All stocks and options shown are examples only.  These are not
recommendations to buy or sell any security.

MARKET OVERVIEW

Overseas markets are primarily beneath water as just two of the 15 markets that
we track are currently posting positive numbers.  The cumulative average return
on the group stands at a minus 0.536 percent.  Traders came back from holiday
in Japan to trounce upon the Nikkei to the tune of 1.62 percent.  The index is
now lower by five-percent from the recent peak of 12195.70 just set on April
26.  The service sector in the United Kingdom continued to grow in April.  The
Purchasing Managers service Index (PMI) rose to 59.0 in April, besting both
March's 58.7 as well as analysts' expectations for a 58.9.  The Bank of England
(BOE) raised its key Repo Rate by 25-basis-points (0.25 percent) this morning
to 4.25 percent.  The move was largely expected in light of explosive moves
higher in real estate and personal credit.  The European Central Bank (EBC) on
the other hand continued to sit pat on interest rates. Choosing to take a
"wait-and-see" attitude, the central banks left all key interest rates
unchanged.  The lack of a move keeps the key minimum bid rate at a historically
low two-percent.

Before the start of regular trade today, Initial Jobless Claims for the week
ending May 1 are expected to decline by 3,000 following on the heels of the
prior week's 18,000 decline.  Sharing the same time slot are the companion
reports First Quarter Preliminary Productivity which is expected to have
slipped a bit to plus 3.5 percent versus the initial estimate for a 4.4 percent
increase.  First quarter Unit Labor Costs are expected to have declined by 0.4
percent, mitigating the initial estimate for a 1.2 percent jump.  Starting at
9:00 a.m. we have a string of six federal finance officials offering their take
on varying aspects of the world of economics.  The appearances are highlighted
by the 9:30 a.m. appearance of Federal Reserve Chairman Greenspan as he speaks
on globalization and innovation via satellite to the Chicago Fed conference on
bank structure and competition.  At 2:00 p.m., the FOMC Minutes of March 16
meeting will be made public.  This report can offer up a little insight into
the thinking of the central bankers.

Be prepared for the investing week ahead with Bernie Schaeffer's FREE Monday
Morning Outlook.  For more details and to sign up, go to:
http://www.investorsobserver.com/freemo

DYNAMIC MARKET OPPORTUNITIES

The US stock market seemed a little punch-drunk yesterday, not sure which way
to turn after the Federal Reserve kept interest rates unchanged.  Again, Alan
Greenspan was vague regarding the timing of a rate hike, leaving investors back
where they started: Interest rates will rise ... but when? NASDAQ volume was
light, but the put/call ratio was back in bullish territory. According to
market analyst Brit Ryle at Money-Flow Matrix Trader, the index is halfway
between support at 1940 and resistance at 1980, meaning "moderately bullish"
could easily change to "moderately bearish" quickly.  "The sector- wide upgrade
of semiconductor stocks is an example.  Semis are undoubtedly the most oversold
sector of the NASDAQ, and the rash of upgrades has done nothing for them." 
Elsewhere, CPI Aerostructures said the US Air Force has awarded the company the
largest contract in its history -- a 7-year, $215 million deal to manufacture
C-5 TOP (Wing Tips, Others and Panels), with $5.2 payable immediately.  The
company also released first quarter earnings, with revenues up 4% and a 31%
gross margin.  With the government awarding defense contracts at a brisk pace,
Value Edge's William Colburn, who recommended the stock to investors back on
November 19, 2003, expects a solid second quarter.  He's up 12% on the position
so far.

The editorial team has prepared a special FREE REPORT for you -- "America's
1,300 Fastest-Growing Companies."  You can access it immediately by following
this link: http://www.investorsobserver.com/agora1

  TODAY'S ECONOMIC CALENDAR
  7:30 a.m.:  Treasury Deputy Secretary Bodman speaks on health savings
              accounts at New Hampshire Business Council breakfast in
              Concord, New Hampshire.
  8:30 a.m.:  Initial Jobless Claims for the week ending May 1 (last minus
              18,000).
  8:30 a.m.:  First quarter Preliminary Productivity (seen at plus 3.5
              percent, last plus 4.4 percent).
  8:30 a.m.:  First quarter Unit Labor Costs (seen at minus 0.4 percent,
              last minus 1.2 percent).
  9:00 a.m.:  Fed Reserve Governor Bies speaks on risk management at
              Financial Services Institute conference in Washington, D.C.
  9:15 a.m.:  Chicago Fed Pres Moskow speaks at Chicago Federal Reserve
              conference on bank structure and competition.
  9:30 a.m.:  Federal Reserve Chairman Greenspan speaks on globalization,
              innovation via satellite to the Chicago Fed conference on bank
              structure and competition.
  10:00 a.m.: DJ-BTM Business Barometer for the week ending April 24 (last
              plus 0.2 percent).
  10:00 a.m.: Treasury Assistant Secretary Abernathy presents honorary
              certificate to 1st Educational Savings Branch for teaching
              financial education to high school students in Wakefield,
              Maryland.
  10:50 a.m.: Richmond Federal Reserve President Broaddus, Federal Reserve
              Board Governor Olson speak on community banks at the Chicago
              Fed conference on bank structure and competition.
  12:30 p.m.: Treasury Assistant Secretary Warshawsky speaks at National
              Economist Club Luncheon in Washington, D.C.
  2:00 p.m.:  FOMC Minutes of March 16 meeting.
  3:00 p.m.:  April Treasury Strips.
  4:30 p.m.:  Money Supply.
  4:55 p.m.:  St. Louis Fed Pres Poole speaks at Chicago Fed conference
  TBA:        April Chain Store Sales.



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and institutions.  Member CBOE/NASD/SIPC (CRD#6731).  For more information and
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This Morning Update was prepared with data and information provided by:

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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. 

http://www.newscom.com/cgi-bin/prnh/20020214/MANSECLOGO

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DATASOURCE: Man Securities



CONTACT:  Michael Lavelle of Man Securities, [phone]



Web site:  http://www.mansecurities.com/mu.html 

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