Schaeffer's Midday Options Update Features General Motors, Citigroup, Northrop Grumman, Intel, and Eyetech Pharmaceuticals
2005年6月11日 - 6:29AM
ビジネスワイヤ(英語)
Today's Schaeffer's Midday Options Update features General Motors
(NYSE:GM), Citigroup (NYSE:C), Northrop Grumman (NYSE:NOC), Intel
(Nasdaq:INTC), and Eyetech Pharmaceuticals (Nasdaq:EYET). The
Midday Options Update contains a brief commentary on the day's most
notable activity and a table listing the most-active calls and puts
for the day. The Midday Options Update is published every day at
www.SchaeffersResearch.com -- the home of Bernie Schaeffer and
Schaeffer's Investment Research. For additional information about
this report or to have it delivered to you free via email every day
click on the following link.
http://www.schaeffersresearch.com/redirect.aspx?CODE=PRMOU1M&PAGE=1
. Options Update: Eyetech's Future Stocks were mostly lower this
morning, with the Nasdaq Composite (COMP) leading the retreat, but
the S&P 500 500 Index (SPX) tumbling as well. The Dow Jones
Industrial Average (DJIA) managed to hold on to breakeven at first,
supported by a spike in General Motors (NYSE:GM), but by lunchtime,
even the Dow was firmly in the red. Citigroup Still Grabbing the
Headlines Citigroup (NYSE:C) appears in this column for the third
successive day. On Wednesday it was our featured stock thanks to
some heavy put activity. Yesterday we noted that the firm named
Damian M. Kozlowski as chief executive officer of C's private
banking business, and as a new member of the bank's management
committee. Today the firm is grabbing the headlines again, on news
that it has agreed to pay $2 billion to settle class-action
litigation related to investors who suffered billions of dollars in
losses as a result of Enron's collapse. Northrop Grumman Guidance
Systems Working Fine Northrop Grumman (NYSE:NOC) sees itself on
track to meet the 2005 earnings forecast that it issued on April
28, of $3.70 to $3.85 per share. It expects to confirm the
financial guidance at meetings it will hold in conjunction with the
Paris Air Show. NOC also announced that it has received a contract
valued at $200 million over five years to provide the National
Aeronautics and Space Administration (NASA) with services to verify
and validate software. This is by no means the first work for NASA
that the group has undertaken. Long Island-based Grumman built the
Lunar Module, the machine that set men on the moon. Panic in
Detroit Subsides a Little Stocks in the Big-Three automakers are
climbing today after GM heard that the United Auto Workers union
told local leaders yesterday that it will not reopen its contract
with GM before 2007, but may ask workers to shoulder more of the
troubled auto maker's health-care costs. This news came from
several people who attended the meeting, and we have yet to hear
official confirmation. Intel Growing Faster than Expected Last
night Intel (Nasdaq:INTC) lifted its second-quarter guidance for
revenue to $9.1-$9.3 billion from its prior forecast for revenue of
$8.6-$9.2 billion. The average analysts estimate was $8.99 billion.
The chip maker noted that it has seen strong demand for notebook
products, and expects gross margin percentages to increase to 57
percent from its prior view of 56 percent. INTC received at least
six reiterations today, including "neutral," "equal weight," "buy,"
and "outperform," and Pipar Jaffray raised its price target for the
stock to $32 from $30. Most-Active Options Update At 1:30 p.m.
eastern time, the Dow Jones Industrial Average (DJIA - 10,467.9)
was down 0.64 percent, while the S&P 500 Index (SPX - 1194.45)
lost 0.54 percent. The tech-heavy Nasdaq Composite (COMP - 2,058.5)
lost 0.88 percent. At 1:30 p.m., 1,909,005 calls and 1,189,499 puts
had changed hands, for a composite put/call ratio (across all six
options exchanges) of 0.64. The CBOE put/call volume ratio for
equity options stood at 0.62. Eyetech Pharmaceuticals Eyetech
Pharmaceuticals (Nasdaq:EYET) is our featured stock today thanks to
some heavy put activity at the July 10 strike. This pharma,
headquartered in the famous New York City location of Times Square,
has a clear vision, to develop drugs that combat eye diseases.
Hoovers mentions that the firm partnered with Pfizer (PFE:
sentiment, chart, options) to develop a drug called Macugen, a
treatment for age-related macular degeneration, which found enough
favor with the Food and Drug Administration to win itself
fast-track status. On May 24, the shares gapped down on news that
rival Genentech (DNA) has a similar product offering. As a result,
EYET received downgrades from brokerages and closed the day with a
loss of something like half its value, and it has yet to show any
signs of recovery. What can we say about the future for this stock?
According to Zacks, analyst ratings are pessimistic, with six
cautious "holds," a "sell" and a "strong sell." For a declining
stock, this seems appropriate. But the short sellers are not as
numerous as you might expect, since the short-interest ratio is
only 3.51 days to cover. We often see higher short interest than
this on stocks that are doing well! This means that short sellers
might be waiting on the sidelines, and may yet step in, adding
downward pressure on the price. Furthermore, the short interest
reduced by more than six percent last month, so short sellers are
actually drifting away from EYET. If the short sellers are less
pessimistic than we might expect, what about the options players?
They show some clear signs of optimism, pushing the Schaeffer's
put/call open interest ratio (SOIR) for the stock down to 0.67, a
figure that lies in the 25th percentile, and tells us that
sentiment lies toward the optimistic end of the spectrum. Remember,
as contrarians we look for one of the following situations: --
Fundamental and technical strength amid pessimistic sentiment. This
is a signal that upside movement could be on the way if any
significant good news comes along. -- Fundamental and technical
weakness amid optimistic sentiment. This is a signal that downside
movement could be on the way if any significant bad news comes
along. That second bullet point might give investors reason for
discomfort. For a stock that has lost about 77 percent of its value
since December 20 last year, and which is still in decline, there
looks to be too much optimism. The Schaeffer's Equity Scorecard
reading for EYET is 2.0 out of 10.0, indicating that the path of
least resistance is still to the downside. Click on the following
link to see the Schaeffer's Equity Scorecard and Weekly Chart of
EYET since January 2004:
http://www.schaeffersresearch.com/wire?ID=13380 . The best way to
take advantage of the timely Schaeffer commentaries is to sign up
to receive their free e-newsletters -- Opening View, Market Recap
and Monday Morning Outlook. Click here to have the Schaeffer's
commentaries delivered to you free via email every day.
http://www.schaeffersresearch.com/redirect.aspx?CODE=PRMOU1M&PAGE=1
. About Schaeffer's Investment Research
(www.SchaeffersResearch.com) Schaeffer's Investment Research,
founded by Bernie Schaeffer in 1981, is a financial information and
trading resources company. It publishes Bernie Schaeffer's Option
Advisor, the nation's leading options subscription newsletter. The
firm's contrarian approach focuses on stocks with technical and
fundamental trends that run counter to investor expectations. The
firm's website, http://www.SchaeffersResearch.com , is recognized
as one of the leading information sources for stock and options
traders and was cited as the top options website by both Forbes and
Barron's. Click here for more details about Schaeffer's trading
methodology: http://www.SchaeffersResearch.com/method .
Eyetech (NASDAQ:EYET)
過去 株価チャート
から 5 2024 まで 6 2024
Eyetech (NASDAQ:EYET)
過去 株価チャート
から 6 2023 まで 6 2024