MORNING UPDATE: Man Securities Issues Alerts for INTC, FBR, PRX, STT, and MOGN
April 14 2004 - 10:11AM
PR Newswire (US)
MORNING UPDATE: Man Securities Issues Alerts for INTC, FBR, PRX,
STT, and MOGN CHICAGO, April 14 /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 INTC, FBR, PRX, STT, and MOGN,
Market Overview, Today's Economic Calendar, and the Quote Of The
Day. QUOTE OF THE DAY "Intel's first quarter results showed healthy
growth in both revenue and earnings compared to a year ago, led by
improvement in worldwide IT spending." -- Craig R. Barrett, chief
executive officer, Intel New PriceWatch Alerts for INTC, FBR, PRX,
STT, and MOGN... PRICEWATCH ALERTS - HIGH RETURN COVERED CALL
OPTIONS ----------- -- Intel Corp. (NASDAQ:INTC) Last Price 27.67 -
MAY 27.50 CALL OPTION@ $1.25 -> 4.1 % Return assigned* --
Friedman, Billings, Ramsey Group, Inc. (NYSE:FBR) Last Price 21.90
- JUN 20.00 CALL OPTION@ $2.75 -> 4.4 % Return assigned* --
Pharmaceutical Resources Inc. (NYSE:PRX) Last Price 46.17 - MAY
45.00 CALL OPTION@ $3.00 -> 4.2 % Return assigned* -- State
Street Corp. (NYSE:STT) Last Price 52.14 - AUG 50.00 CALL OPTION@
$4.10 -> 4.1 % Return assigned* -- MGI PHARMA INC. (NASDAQ:MOGN)
Last Price 62.94 - JUL 60.00 CALL OPTION@ $6.90 -> 7.1 % 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) ** 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 have
performed a complete 180 from yesterday at this time. Currently
none of the 15 markets that we track is positive. The cumulative
average return on the group stands at a minus 1.136 percent. If you
don't think interest rates are of concern, note that the largest
drag on the group is the Hang Seng Index out of Hong Kong. An
empirical rationale here: rising interest rates in the U.S. will
strengthen the U.S. dollar. The local currency in Hong Kong is tied
to the U.S. dollar thanks to the Chinese government. A rise in U.S.
interest rates will also, by association, push the Hong Kong dollar
rates higher. The April Mortgage Bankers Association (MBA)
Refinancing Index is to be released today. In the prior week, the
index declined by 15 percent. As expected, with a full week of
rising interest rates under its belt, the MBA Refinancing Index
plummeted by 30.7 percent in the week ending April 9. The Purchase
Index dropped by 9.5 percent while the MBA Market Index fell by
22.1 percent. The potential hot spot in today's market will be this
key indicator of inflation at the consumer level. At 8:30 a.m., the
February Consumer Price Index (CPI) is expected to have risen by
0.3 percent matching the 0.3 percent rise of January. The February
Core Index, less food and energy, is also expected to have
advanced, but by 0.2 percent, also matching January's 0.2 percent
advance. Now the key question is - was yesterday's market sell-off
in response solely to the explosive retail sales numbers or were
participants indeed factoring in a show of inflation out of today's
reports? Following a strong employment report out of March,
participants are now keenly aware of any item that would portend
inflationary pressures finally reaching the consumer and clearing
the way for that much anticipated "first interest rate hike."
Potentially another log on that fire will be the bundled release of
the February International Trade Deficit. Analysts fully expect to
see that shortfall shrink a bit to 42.6 billion versus the $43.06
billion charged up in January. I have no idea how much of this is
already baked into the cake, so the market response is truly a
betting man's game. 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 Five weeks ago, Chinese Premier Wen
Jiabao presented his government's latest report on the state of the
economy to the National People's Congress in Beijing. In it, he
said he would cut investment in the industrial/manufacturing sector
and instead pump 30 billion yuan (US$3.6 billion) into poorer rural
areas this year. His aim is to ease inflation (which reached a
six-and-a-half year high of 3.2% at the end of 2003) and slow down
China's explosive economic growth from 9.1% in 2003 to around 7%
this year to prevent overheating and a potential boom-bust cycle.
But so far, it's not going to plan. Banks are still lending
enormous amounts, and states are investing equally big sums. March
factory output was over 19% higher than March 2003, while exports
soared 43%. And in order to satiate the country's voracious
appetite, China imported $124.1 billion worth of goods during the
first quarter - a 42% year-on-year increase. The trade deficits for
January, February and March were $20 million, a massive $7.8
billion and $540 million respectively, sending the overall Q1
deficit to $8.4 billion. Current indications show the economy
expanded by a further 9-10% during Q1. And given the government's
notoriously conservative growth forecasts, its robust 7% growth
projection already looks too low. Goldman Sachs predicts 9.5%
expansion this year, while Lehman Brothers forecasts it will reach
8%. Receive incisive economic/market commentary, profitable advice
and access to a network of leading investment exports. Simply
follow this link: http://www.investorsobserver.com/agora2 TODAY'S
ECONOMIC CALENDAR 7:00 a.m.: April MBA Refinancing Index (last
minus 15 percent) 7:30 a.m.: Assistant Treasury Secretary Abernathy
speaks New Orleans 8:30 a.m.: February Consumer Price Index (CPI)
(last plus 0.3 percent) 8:30 a.m.: February Consumer Price Core
Index, less food and energy (last plus 0.2 percent) 8:30 a.m.:
February International Trade Deficit (last $43.06 billion) 7:00
p.m.: San Francisco Fed President Parry speaks on the regional and
U.S. economy in Moraga, California 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:
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247profits e-Dispatch. Go to:
http://www.investorsobserver.com/agora Schaeffer's Investment
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 Sharon at 800-837-6212 or at
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upon request.
http://www.newscom.com/cgi-bin/prnh/20020214/MANSECLOGO
http://photoarchive.ap.org/ DATASOURCE: Man Securities CONTACT:
Michael Lavelle of Man Securities, +1-800-837-6212 Web site:
http://www.mansecurities.com/mu.html
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