CHICAGO, Jan. 6 /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 CNXT, WAG, LLY, ICOS, and CNET, Market Overview, Today's Economic Calendar, and the Quote Of The Day.
QUOTE OF THE DAY
"Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game."
-- Donald Trump New PriceWatch Alerts for CNXT, WAG, LLY, ICOS, and CNET... PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS ----------- -- Conexant Systems, Inc. Last Price 5.51 - FEB 5.00 CALL OPTION@ $0.75 -> 5 % Return assigned* -- Walgreen Co. Last Price 35.25 - APR 35.00 CALL OPTION@ $1.85 -> 4.8 % Return assigned* -- Lilly (Eli) and Co. Last Price 70.19 - APR 70.00 CALL OPTION@ $3.80 -> 5.4 % Return assigned* -- ICOS Corp. Last Price 38.35 - APR 35.00 CALL OPTION@ $5.80 -> 7.5 % Return assigned* -- CNET Networks, Inc. Last Price 8.11 - FEB 7.50 CALL OPTION@ $1.05 -> 6.2 % 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
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** 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 recovered off of their early session lows, but the majority of our tracked bourses remain in negative territory. Currently just five of the 15 markets that we follow are positive and the cumulative average return on the entire group stands at a positive 0.052 percent. Key purchasing managers' surveys in overseas countries continue to show expansion in the services sector. The BME/Reuters services PMI survey for December expanded for a fifth consecutive month, albeit at a less robust pace. The December report hit 54.6 on expectations for a 55.7 and compared to 55.4 of November. In the United Kingdom, the Chartered Institute of Services Purchasing and Supply slipped to 58.5 in December from 59.6 of November. Economists expected a reading of 59.8.
The two weekly reports on the health of the retailing sector will be released before the market open today. Recall that the ICSC-UBS Store Sales Index for the week of December 27 demonstrated a rise of 2.0 percent, while the Redbook Retail Sales index for the same period declined by 1.0 percent. Following a nasty reversal day last Friday, the S&P Retail Index was buoyed by yesterday's market rally by 0.44 percent. Speaking of retailers, after the market close yesterday Wal-Mart Stores announced the authorization of a new $7 billion share repurchase program that is separate from and replaces the previous $5 billion program. The company said that it repurchased $3.1 billion in shares through October 31, under the previous buyback program. With a market capitalization of some $227.723 billion and yesterday's closing price of 52.12, it would appear that the company has about 4.369 billion outstanding shares. So that $7 billion purchase would account for just a tad over three-percent of the current outstanding shares. At 10:00 a.m., the December Institute for Supply Managers (ISM) Non-Manufacturing Business Index is expected to show a rise to 61.0 versus the truly respectable 60.1 posted in November. Recall that the sister ISM manufacturing survey surprised to the upside at 66.2. Sharing the same time slot, the release of the November Factory Orders report is expected to show a decline of 1.5 percent, moderating from the 2.2 percent rise in October. A decline here should be of little surprise considering that Durable Goods orders slipped 3.1 percent in November (you may have missed that one as it was reported on December 24).
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
December was the busiest month for new public offerings since October of 2000. And with an existing three-year long backlog of paper, this bodes well for 2004. Companies like popular Internet search engine Google are already slated to go public this year. But Christian DeHaemer, head of nanotech financial research at the Red Zone, says, "Forget the Internet - 2004 will be all about nanotech. The nanotech group has yet to feed at the IPO trough, but the industry has matured to the point where it's the next hot trend. Harris and Harris Group is to nanotech what CMGI Inc. was to the Internet, which at one point was a US$200 stock. Harris and Harris started investing seed capital in nanotech back in 1994. With a market cap of $165 million, their pipeline is long and they will surely benefit from any renewed strength in the IPO market." The company rose 17% on Monday to close at $14.74 - a 75% gain for one financial investment group since December 2, 2003.
To learn about the system that detects stock buying opportunities like these, follow this link: http://www.investorsobserver.com/agora2
TODAY'S ECONOMIC CALENDAR 7:45 a.m.: ICSC-UBS Store Sales Index for the week of January 3 (last plus 2.0 percent). 8:55 a.m.: Redbook Retail Sales for the week of January 3 (last minus 1.0 percent). 10:00 a.m.: December Challenger Layoff Survey (last minus 42 percent). 10:00 a.m.: December ISM Non-Manufacturing Business Index (seen 61; last 60.1). 10:00 a.m.: November Factory Orders (seen minus 1.5 percent; last plus 2.2 percent). 6:30 p.m.: ABC/Money Consumer Confidence for the week of January 2 (last minus 9).
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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.
CONTACT: Michael Lavelle of Man Securities, +1-800-837-6212
Web site: http://www.mansecurities.com/mu.html
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