MORNING UPDATE: Man Securities Issues Alerts for YHOO, ELN, BBY, FD, and AGI
August 11 2004 - 10:02AM
PR Newswire (US)
MORNING UPDATE: Man Securities Issues Alerts for YHOO, ELN, BBY,
FD, and AGI CHICAGO, Aug. 11 /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 YHOO, ELN, BBY, FD, and AGI,
Market Overview, Today's Economic Calendar, and the Quote Of The
Day. QUOTE OF THE DAY "I think this is a foxtrot economic recovery,
fast-fast then slow-slow." -- Jeffrey Saut, chief strategist,
Raymond James New PriceWatch Alerts for YHOO, ELN, BBY, FD, and
AGI... PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS
----------- -- Yahoo Inc. (NASDAQ:YHOO) Last Price 27.15 - SEP
25.00 CALL OPTION@ $3.10 -> 4 % Return assigned* -- Elan Corp.
plc (NYSE:ELN) Last Price 18.50 - SEP 15.00 CALL OPTION@ $4.20
-> 4.9 % Return assigned* -- Best Buy Co. Inc. (NYSE:BBY) Last
Price 45.15 - SEP 45.00 CALL OPTION@ $2.40 -> 5.3 % Return
assigned* -- Federated Dept. Stores (NYSE:FD) Last Price 46.02 -
NOV 45.00 CALL OPTION@ $3.50 -> 5.8 % Return assigned* --
Alliance Gaming Corp. (NYSE:AGI) Last Price 13.69 - OCT 12.50 CALL
OPTION@ $1.75 -> 4.7 % 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
looking fairly weak this morning as only three out of the 15
markets that we track are in positive territory. The Frankfurt DAX
is currently dragging down the European indices with a 1.34 percent
drop. In overnight trading, the Japanese Nikkei closed up 0.88
percent, but the Hong Kong Hang Seng fell 0.52 percent. The Paris
CAC and the London FTSE are also lower in mid-day trading in
Europe. The Federal Open Market Committee policy-making meeting
yesterday resulted in a 25 basis point increase of the Federal
Reserve's target federal funds rate to 1.5 percent. This is the
rate that banks lend to each other overnight. Most investors
anticipated the move even after last week's weaker than expected
employment report. The Fed said that it plans to continue to
tighten monetary policy at a "measured" pace, which is a phrase
that it has been using for quite some time now. The central bank
said that it sees balanced risks when it comes to inflation and
sustained economic growth. After the Fed announcement was made
yesterday, there was a brief positive reaction by the equity
markets, which gave way to a sell-off. The markets quickly
rebounded later in the day, moving to new highs. The S&P 500
closed up 1.3 percent for the day. 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 Americans awoke yesterday morning to find a shock
awaiting them. In overnight trading, US light crude had galloped to
$44.99 per barrel -- the highest in 21 years. It later breached the
$45 mark. The reason for this latest jump is yet more unrest in
Iraq that had traders fretting over severe supply shortages. As the
country with the second-largest oil reserves after Saudi Arabia,
Iraq already played a major part in the oil market long before the
war started and the current situation spiraled out of control. But
these days, any hint of trouble can move the market in a rapid and
damaging way. So when officials shut down several oil fields in
southern Iraq amid fighting and threats of sabotage from groups
loyal to radical cleric Moqtada al-Sadr, it was no surprise to see
oil prices bounce upwards again. The fields supply Iraq's main oil
terminal at Basra and account for 90% of total exports. One big,
destructive hit here and it's highly likely prices would shoot
straight to $50 per barrel. But there are other factors at work.
Russian oil company Yukos has had its accounts frozen and is on the
verge of bankruptcy, which would force it to suspend operations.
Another potential inflammatory situation is the upcoming referendum
to recall Venezuelan President Hugo Chavez on August 15. Venezuela
is the world's fifth-largest oil producer, so despite government
assurances to guarantee oil exports, unrest there could hit the
market further. As it is, OPEC is already pumping a record 30
million barrels of oil per day, two million higher than its daily
limit. President Purmono Yusgiantoro says the cartel may officially
raise the production quota in September. He also said the group has
the capacity to produce another 1.5 million barrels per day.
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.: MBA Refinancing Index (last minus 2.9 percent)
12:00 p.m.: June Chicago Fed Midwest Manufacturing Index (last plus
2.2 percent) Man Securities is one of the world's leading option
order execution firms. Man's in-house broker team offers a level of
personal service and experience unavailable from no-frills discount
brokers. To improve your understanding of option pricing get Man's
FREE "Margin/Option Wizard software at:
http://www.investorsobserver.com/mancd. Member CBOE/NASD/SPIC. 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
http://www.cboe.com/Resources/Intro.asp. Privacy policy available
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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