MORNING UPDATE: Man Securities Issues Alerts for CSCO, CEPH, DIS, MAY, and HSP
August 11 2004 - 9:03AM
PR Newswire (US)
MORNING UPDATE: Man Securities Issues Alerts for CSCO, CEPH, DIS,
MAY, and HSP CHICAGO, Aug. 11 /PRNewswire/ -- Man Securities issues
the following Morning Update at 8:30 AM EDT with new NewsWatch
Alerts for key stocks. (Logo:
http://www.newscom.com/cgi-bin/prnh/20020214/MANSECLOGO ) Before
the open... NewsWatch Alerts for CSCO, CEPH, DIS, MAY, and HSP ,
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 NewsWatch Alerts for CSCO, CEPH, DIS, MAY, and HSP
... NEWSWATCH ALERTS - News That Could Move These Stocks
----------- Cisco Systems Inc. (NASDAQ:CSCO)* Reported late Tuesday
a profit in its 4Q of $1.4 billion, or 20 cents a share, compared
with $982 million, or 14 cents a share, 4Q 2003. Excluding one-time
items, Cisco earned 21 cents a share. Analysts were expecting an
EPS of 20 cents. Sales in the quarter that ended July 31 rose 26%
to $5.93 billion from $4.7 billion last year. Inventory also rose
slightly to $1.2 billion from $1.1 billion in the previous quarter.
The stock closed down $0.20 at $20.05 and lost more in after hours
trading. Cephalon Inc. (NASDAQ:CEPH)* Was downgraded Tuesday based
on concerns from the FTC merger arrangement with Cima Labs that was
announced on 8/9. As part of the agreement, CEPH has agreed to
grant a license to Barr Pharma for Actiq. Presently, Actiq
constitutes 30% of revenues. Therefore, the analyst consensus is
that sales for CEPH would be almost halve immediately. Accordingly,
2005 EPS estimates were reduced to $2.41 from $2.50, that of 2007
to $1.65 from $2.48 and increased that of 2006 to $2.47 from $2.42.
Consequently, CEPH finish down by $4.86 at $43.00 on the highest
volume of the year. The stock sank below support and closed at a
new 52-week low. The Walt Disney Co. (NYSE:DIS)* Reported late
Tuesday that it earned $604 million, or 29 cents per share, for the
3Q, compared with $502 million, or 24 cents per share, in the same
period last year. Revenue climbed 17% to $7.471 billion from $6.377
billion in the same period last year. Results beat expectations
that were pegged at 27 cents per share mostly by a 20% percent rise
in operating income at its theme parks which reported operating
income of $421 million, compared to $352 million for the same
period last year. The stock closed up $0.50 at $22.44 and climbed
further in the after hours. May Department Stores Co. (NYSE:MAY)*
The company posted net earnings on Tuesday for the 2Q of $110
million, or $0.36 per share, compared to $92 million, or $0.30 per
share, in the prior year quarter. Excluding store divestiture costs
and beating the estimates by a cent. Net earnings for the quarter
were $101 million, or $0.33 per share, compared to a net loss of
$110 million, or $0.39 per share, in the prior year quarter. MAY is
in the process of consolidating its acquisition of Marshall Field's
department store group completed on July 31, including 62
department stores and related inventory, customer receivables and
distribution centers. Hospira Inc. (NYSE:HSP)* Reported net income,
excluding items, for the 2Q of $0.56 per share, compared to $0.43
per share in the 2Q of 2003. On average expectations were pegged at
$0.33 per share for the quarter. The adjusted net income for the
quarter increased 31.7% to $88.9 million from $67.5 million in the
prior year. Outlook for FY2004 is approximately $2.5 billion with
an adjusted basis for FY2004 EPS in the range of $1.39 - $1.54. The
analysts expect earnings of $1.47 per share on revenues of $2.56
billion for the FY2004. The stock closed at $27.15 up $2.40 or
9.70%. * 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/mu18n (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
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Morning Update was prepared with data and information provided by:
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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
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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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