MORNING UPDATE: Seven Summits Research issues alerts for IBM, WFC, GENZ, FRX, and NVS
October 18 2005 - 10:44AM
PR Newswire (US)
CHICAGO, Oct. 18 /PRNewswire/ -- Seven Summits Research issues the
following Morning Update at 8:30 AM EDT with new PriceWatch Alerts
for key stocks. Before the open... PriceWatch Alerts for IBM, WFC,
GENZ, FRX, and NVS, Market Overview, News Leaders and Laggards,
Today's Economic Calendar, and the Quote Of The Day. QUOTE OF THE
DAY "The effect of the current surge in oil prices, though
noticeable, is likely to prove significantly less consequential to
economic growth and inflation than the surge in the 1970s." -- Alan
Greenspan, Chairman, US Federal Reserve New PriceWatch Alerts for
IBM, WFC, GENZ, FRX, and NVS PRICEWATCH ALERTS - HIGH RETURN
COVERED CALL OPTIONS -- International Business Machines Corp.
(NYSE:IBM) Last Price 82.59 - APR 80.00 CALL OPTION@ $6.80 ->
5.6 % Return assigned* -- Wells Fargo & Co. (NYSE:WFC) Last
Price 59.14 - JAN 60.00 CALL OPTION@ $1.45 -> 4.0 % Return
assigned* -- Genzyme Corp. (NASDAQ:GENZ) Last Price 69.32 - NOV
70.00 CALL OPTION@ $2.50 -> 4.8 % Return assigned* -- Forest
Laboratories Inc. (NYSE:FRX) Last Price 36.35 - NOV 35.00 CALL
OPTION@ $2.70 -> 4.0 % Return assigned* -- Novartis AG
(NYSE:NVS) Last Price 51.41 - APR 50.00 CALL OPTION@ $3.40 ->
4.1 % 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) ** FREE Access to the Market Intelligence
Center where you will find the news, insight and intelligence that
can make a difference in the way you invest, go to:
http://www.investorsobserver.com/FreeMIC NOTE: All stocks and
options shown are examples only. These are not recommendations to
buy or sell any security. MARKET OVERVIEW In overseas trading,
foreign indices are slightly improved over yesterday at this time.
Currently, nine of the 14 indexes that we track are in positive
territory, with the cumulative average return standing at 0.143.
Asian markets attempted to finish Tuesday's session higher on
strength in the U.S. dollar, but the Japanese Nikkei fell prey to
speculation ahead of Intel's (INTC) earnings report scheduled to
arrive after the close of U.S. trading today. Across the pond in
Europe, traders are working hard to hold indices in positive
territory, emboldened by several strong earnings reports in the
healthcare sector and a pullback in crude prices. The November
futures contract on sweet crude oil (CL/X5 - - 64.36) jumped nearly
three percent yesterday, as concerns over Gulf Oil production were
renewed with the advent of the 21st tropical storm of the season.
The storm even overshadowed a report from OPEC, which cited lower
world demand. OPEC now expects 2005 demand for crude oil at 28.7
million barrels per day, up 500,000 barrels per day from 2004 but
down 200,000 barrels per day from its previous forecast. For 2006,
OPEC sees demand at 28.5 million barrels per day, down 400,000
barrels per day from last month's estimate. In early trading, crude
has pulled back 88 cents to trade at $63.48 per barrel. Get Free
Stock Picks from Bernie Schaeffer, 3 time winner of the Wall Street
Journal Stock Picking Contest. For your Free Trial go to:
http://www.investorsobserver.com/freemo2 DYNAMIC MARKET
OPPORTUNITIES As the hurricane season's next storm, Tropical Storm
Wilma forms in Central America, about halfway between the northeast
coast of Nicaragua and the southwestern edge of Jamaica, it marks a
watershed moment. Having now gotten to "W" in the alphabet, this
ties the record from 1933 for named storms in a single season.
Should there be any more, the naming process will switch to the
Greek alphabet using names from Alpha to Omega. Current forecasts
put Wilma on track to form more dangerously in the warm waters of
the Gulf of Mexico at the weekend - and by midday on Monday, crude
oil prices had climbed about 2% in anticipation, with natural gas
prices climbing 5%. Many oil stocks also rose on the news. For many
oil and gas companies, particularly the ones affected by the recent
storms, the immediate future looks a little grim. Gulf area
capacity is still about two-thirds below normal levels and the
financial world is now seeing the first downward earnings revisions
for oil companies in two years, with third quarter results looking
downbeat. For example, hurricane repairs and lost profits will cost
BP US$700 million and Chevron US$350 million. However, once the
market digests this news and the end of the hurricane season
coincides with the winter heating season, investors could once
again start focusing more on the future, rather than the past. At
the 247Profits investment group, Brit Ryle thinks it could "set the
stage for a nice run for energy stocks towards the end of the year.
Plus, if you consider the leadership role the energy stocks have
played, the whole stock market could ramp higher. The only problem
with this theory is timing. More specifically, will investors be
able to wait until earnings before they start buying energy stocks?
I suspect not. In fact, the buying may have already begun ... ".
Read more analysis from the 247Profits Group every trading day with
the FREE 247Profits e-Dispatch, featuring insightful economic
commentary, profitable investment recommendations, and full access
to a leading team of financial experts. Register for free here:
http://www.247profits.com/enter.html NEWS LEADERS AND LAGGARDS So
far today, International Business Machines, SunTrust Banks, and
Merrill Lynch & Co lead the list of companies with the most
news stories while American Standard Companies and KeyCorp are
showing a spike in news. Johnson & Johnson, 3M Co, and United
Technologies have the highest srtIndex scores to top the list of
companies with positive news while Great Atlantic & Pacific Tea
Co. and Theragenics Corp lead the list of companies with negative
news reports. Novartis AG has popped up with a high positive news
sraIndex score. For the FREE article titled, "Earnings Season
Decoded - An Essential 15 Point Checklist For Finding Winning
Stocks." go to: http://www.wallstreetsecretsplus.com/go/freemu/
TODAY'S ECONOMIC CALENDAR 7:45 a.m. Oct 15 ICSC Store Sales Index
8:30 a.m. Sept PPI 8:30 a.m. Sept PPI, ex-food and energy 8:55 a.m.
Oct 15 Redbook Retail Sales Index 9:00 a.m. Aug Treasury Intl
Capital 1:00 p.m. Oct NAHB Housing Market Index 2:40 p.m. San
Francisco Fed Pres Yellen speaks on the U.S. economy in Salt Lake
City Seven Summits Investment Research is an independent investment
research group focusing on the U.S. equities and options markets.
Our unique set of analytical tools, screening techniques, rigorous
research methods and committed staff provide solid information to
help our clients make the best investment decisions possible. For
more information go to
http://www.sevensummitsinvestmentresearch.com/ . CRD# 137114 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 Quote.com QCharts- Real time
quotes and streaming technical charts to keep you up with the
market. Analyze, predict, and stay ahead. for a Free 30 day trial
go to: http://www.investorsobserver.com/MUQuote2 247profits.com:
You'll get exclusive financial commentary, access to a global
network of experts and undiscovered stock alerts. Register NOW for
the FREE 247profits e-Dispatch. Go to:
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Research - Sign up for your FREE e-weekly, Monday Morning Outlook,
Bernie Schaeffer's look ahead at the markets. Sign Up Now
http://www.investorsobserver.com/freemo PowerOptionsPlus - The Best
Way To Find, Compare, Analyze, and Make Money On Options
Investments. For a 14-Day FREE trial and 5 FREE bonuses go to:
http://www.poweroptionsplus.com/ 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 Catherine at 800-698-9101 or
at http://www.cboe.com/Resources/Intro.asp. Privacy policy
available upon request. DATASOURCE: Seven Summits Research CONTACT:
Reid Stratton of Seven Summits Investment Research, +1-800-698-9101
Web site: http://www.sevensummitsinvestmentresearch.com/
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