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MORNING UPDATE: Man Securities Issues Alerts for NXTL, OVTI, PVN, INCY, And OPSW
CHICAGO, Feb. 19 /PRNewswire/ -- Man Securities issues the following Morning
Update at 8:30 AM EST with new PriceWatch Alerts for key stocks.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020214/MANSECLOGO )
Before the open... PriceWatch Alerts for NXTL, OVTI, PVN, INCY, and OPSW, Market
Overview, Today's Economic Calendar, and the Quote Of The Day.
QUOTE OF THE DAY
"The power to change Washington rests not in my hands, but in yours. Always
remember, you have the power to take our country back."
-- Howard Dean, Governor
New PriceWatch Alerts for NXTL, OVTI, PVN, INCY, and OPSW...
PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS
-- Nextel Communications, Inc. (NASDAQ:NXTL)
Last Price 28.62 - MAY 25.00 CALL OPTION@ $4.60 -> 4.1 % Return
assigned*
-- OmniVision Technologies Inc. (NASDAQ:OVTI)
Last Price 25.63 - MAR 25.00 CALL OPTION@ $2.50 -> 8.1 % Return
assigned*
-- Providian Financial Corp. (NYSE:PVN)
Last Price 12.70 - MAR 12.50 CALL OPTION@ $0.75 -> 4.6 % Return
assigned*
-- Incyte Corporation (NASDAQ:INCY)
Last Price 8.34 - MAR 7.50 CALL OPTION@ $1.20 -> 5 % Return assigned*
-- Opsware Inc. (NASDAQ:OPSW)
Last Price 9.20 - APR 7.50 CALL OPTION@ $2.10 -> 5.6 % 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 performing quite well this morning as 14 of the 15 markets
that we track are currently positive. The cumulative average return on the
group stands at a plus 0.594 percent. The France CAC 40 Index has moved to a
fresh 52-week high and a level not seen since early July of 2002. Real Gross
Domestic Product in the fourth quarter in Germany rose by 0.2 percent over the
third quarter, which rose by 0.2 percent over its prior quarter. Exports, which
had been the main driver in the third quarter (rising by 3.8 percent), rose by
just 0.3 percent in Q4. Imports (which detract from GDP) rose by 2.7percent in
the quarter. This should magnify the potential threat to continued growth of
the rising euro.
A reasonable amount of economic data today and a well-rounded grouping of
earnings releases should give investors a little something to ponder. Before
the market open at 8:30 a.m., Initial Jobless Claims for the week ending
February 14 are seen declining by 9,000, overcoming the prior week's surprise
6,000 rise to a seasonally adjusted two month high of 363,000. Sharing the same
time slot, a feel for inflation at the manufacturing level via the tandem
January Producer Price reports. The January Producer Price Index is expected to
have risen by 0.4 percent, creeping higher from the 0.3 percent rise in
December. The Core Index, less food andenergy, is seen at a more temperate
plus 0.1 percent, matching on a percentage basis the prior month's rise. At
10:00 a.m., the Conference Board's January Leading Economic Indicators is seen
rising by 0.4 percent, coming on the heels of December's 0.2percent rise to
114.3. The December reading was said to be 2.5 percent above the prior high in
the index set in May 2002. In the December report, seven out of 10 indicators
rose. The biggest positive contributors to the index were vendor performance,
stock prices, building permits and falling claims for unemployment insurance.
The biggest negative contributor was a drop in money supply. This index was
designed to predict future economic growth and was equal to 100 in 1996. At
noon, the FebruaryPhiladelphia Fed Index on business conditions is seen cooling
slightly to 36.0 from January's 38.8 reading. On Tuesday it was reported that
the New York Federal Reserve manufacturing survey surged to a record high of
42.05 in February. In these reports, any reading greater than zero denotes
expansion in that index or component. Finally, a live voice out of the Federal
Reserve inner circle at 1:30 p.m. as Chicago Fed President Moskow speaks on the
economic outlook in Chicago.
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
It's been tough for Abercrombie & Fitch recently. Besides the uproar over its
controversial catalog which forced the company to terminate production in
December, it has also endured a desperate sequence of falling sales. But the
best time to buy a stock is when it has few friends. Given the company's solid
profit/operating margins and management team that doesn't resort to mass
discounting when times get tough, Martin Denholm, financial editor at the Taipan
Group, bought at $28.83 in late November. Even as the stock slumped 20%, he
remained confident. And after gradually clawing back its losses, traders were
rewarded Wednesday. Abercrombie posted profits of $94.3 million (96 cents per
share), bettering estimates by a penny. Net sales increased 4.8% to $560.4
million. And despite a drop in same store sales, the overall strong earnings
and the announcement of 50 cents-per-share annual dividend quickly pacified the
news. Shareholders will see the first 12.5 cents payment by March 30.
Investors jumped on the news. And after a Wachovia upgrade, they lifted
Abercrombie up 9.2% to $30.79. Denholm's traders are now sitting on a 6.8%
gain.
Martin Denholm writes for the Taipan Group's FREE daily e-Dispatch. To sign up
and receive information on where to invest your money, read incisive daily
political, economic, and market commentary, and gain access to a network of
financial experts, follow this link: http://www.investorsobserver.com/agora2
TODAY'S ECONOMIC CALENDAR
8:30 a.m.: Initial Jobless Claims for the week ending February 14 (last
plus 6,000).
8:30 a.m.: January Producer Price Index (last plus 0.3 percent).
8:30 a.m.: January Producer Price Core Index, less food and energy (last
minus 0.1 percent).
10:00 a.m.: DJ-BTM Business Barometer for the week ending February 14
(last minus 0.2 percent).
10:00 a.m.: January Leading Economic Indicators (last plus 0.2 percent).
12:00 p.m.: February Philadelphia Fed Index.
1:30 p.m.: Chicago Fed Pres Moskow speaks on the economic outlook in
Chicago.
4:30 p.m.: Money Supply.
Man Financial Inc is one of the world's major futures and options brokers and
has been recognized as a leading option order execution firm for individuals and
institutions. Member CBOE/NASD/SIPC (CRD#6731). For more information and a
free CD with educational tools to help you invest smarter, see
http://www.investorsobserver.com/mancd
This Morning Update was prepared with data and information provided by:
InvestorsObserver.com -- Better Strategies for Making Money -> For Investors
With a Sense of Humor. Only $1 for your first month plus seven free bonuses
worth over $420, see: http://www.investorsobserver.com/must
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Morning Outlook, Bernie Schaeffer's look ahead at the markets. Sign Up Now
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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, +1-800-837-6212
Web site: http://www.mansecurities.com/mu.html