MORNING UPDATE: Man Securities Issues Alerts for MCK, DAL, CCE,
COH, and HNZ
CHICAGO, Sept. 9 /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 MCK, DAL, CCE, COH, and HNZ, Market
Overview, Today's Economic Calendar, and the Quote Of The Day.
QUOTE OF THE DAY "The most recent data suggest that, on the whole, the expansion has regained
some traction." -- Alan Greenspan, Chairman, Federal Reserve NewsWatch Alerts for MCK, DAL, CCE, COH, and HNZ ...
NEWSWATCH ALERTS - News That Could Move These Stocks Today----------- McKesson Corp. (NYSE:MCK)*
After announcing late on Tuesday that near-term profits will miss estimates
because of lower-than-expected drug prices, the stock was punished by
investors. Specifically, MCK announced that earnings guidance for the first
half year to be in the range of $0.75-$0.80, while analysts were expecting
$0.50 per share for the 2Q. MCK was quick to say that the FY05 guidance
remained unchanged at $2.20 to $2.35 per share. By the end of trading
Wednesday, the stock had fallen 15.2% closing down $4.85 at 26.98.
* 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) Delta Air Lines Inc. (NYSE:DAL) Announced on Wednesday that 6,000-7,000 jobs will be reduced in the next 18
months as part of a move to achieve a target of $5 billion in savings by 2006.
DAL noted that bankruptcy is a real possibility as a result of the rapid
deterioration of its financial condition due to low yields, high fuel prices,
uncompetitive labor costs, a high debt burden and possible operational
disruption from anticipated pilot early retirements. Also the transformation
plan calls for over 51% of the company's network to be restructured by January
31, 2005. Including a simplification of the fleet by retiring four types of
aircraft in the next four years. The stock closed down 10.3% at $4.02 off
$0.46 and fell further in after hours trading.
Coca-Cola Enterprises Inc. (CCE) CCE revised its earnings guidance for the 3Q and for the year 2004. The
company stated that it now expects 3Q earnings in $0.38 to $0.40 range. Analysts expected earnings of $0.49 per share for the quarter. For the full
year, the company currently expects earnings per share, excluding nonrecurring
item, in $1.26 to $1.30 range. Full year earnings per share are expected in
$1.21 to $1.25 range. The stock closed down 5.4% on Wednesday at $19.48 off
$1.11.
Coach Inc. (NYSE:COH) Following Coach's Tuesday announcement raising guidance by a cent, Prudential
Financial also increased its 2005 EPS estimate. The increase also considered
that COH repurchased 2.43 million shares at an average cost of $39.06, or about
$95 million, during the quarter. Also COH was invited to join Standard &
Poor's 500 Index two weeks ago. The stock closed up 1.3% gaining $0.56 to
$44.07.
H.J. Heinz Co. (NYSE:HNZ) The company held their annual shareholders meeting yesterday and had many
pleasant things to say about their performance. With sales growth of 5.7%, EPS
growth 7.8%, and operating free cash flow of $148 million, the company feels
that FY2005 will successfully bring to a close the three-year growth plan to
refocused and strengthened HNZ. Adding some sauce to the party the company
also announced a Preferred Stock Dividend Of $0.425 Per Share and a $0.285
dividend, with a record date 9/23/04. The stock closed down $0.51 at 37.69 at
the close on Wednesday.
** 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 not fairing too well this morning as just three of the 15
markets that we track are currently positive. The cumulative average return on
the group stands at a minus 0.644 percent. Adding to the concerns of a slowing
global economy and declining household spending for the Japanese economic
recovery, July machine tool orders declined by a worse than expected 11.3
percent. The figure was worse than analysts' opinion for a 2.3 percent decline
and the prior month's 3.9 percent rise. The ripple helped create a 108-point
decline in the Nikkei overnight. Heading a bit west, the Bank of England (BOE)
decided to hold its key Repo Rate steady at 4.75 percent. That lack of move
was widely anticipated, but some expect a sixth (already five increases since
last November) 25 basis point hike in November.
Two key reports are to be released before the start of the regular session of
trade. Initial Jobless Claims for the week ending September 4 are expected to
have declined by 17,000, somewhat offsetting the prior week's surprise 19,000
jump. As a potential indicator of consumer demand and inflationary pressure,
August Import Prices are seen rising by 0.6 percent versus July's 0.2 percent
rise. A terrorist bombing in Jakarta, Indonesia earlier this morning may have
some repercussions throughout the session. Additionally the weekly petroleum
products inventories will be released today. Any "larger than expected"
decline in the stockpiles could prove bullish for the commodity, but negative
for equities.
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 Wednesday's phrase of the day: "Regaining traction." That's how Federal Reserve
Chairman Alan Greenspan summed up the US economy, citing a rebound in job
growth in August, coupled with upward consumer spending momentum in July. Somewhat surprisingly though, given the rapid run up in oil prices, Greenspan
stated inflation was under control and, in fact, said future inflation
expectations "have eased in recent months." However, the quarterly UCLA
Anderson Report runs a completely different theory to Greenspan's. It argues
that corporate and consumer spending is still weak and that the overheated
housing market poses serious risks to the health of the US economy. In fact, it
states these factors could lead to an extended "soft period," with no dynamic
growth, ending with the "distinct possibility" (albeit a 10% chance) that the
economy will spin back into recession as early as 2006. Although the Anderson
Report is credited with correctly predicting the 2001 recession and the current
"soft patch," this does seem to be a particularly bearish case. Some economists
even say there's a greater chance of recession than that. However, with the tax
cuts having worn off and interest rates now rising, the American consumer's
ability to continue propelling the economy forward might be fading -
particularly when many Americans are already submerged in debt. The Anderson
Report projects 3.3% GDP growth in both 2005 and 2006 - not too shabby, but
less than the 4.5% Greenspan boldly projected recently. But Greenspan's
comments all but assure the Fed will surprise nobody and raise interest rates
again on September 21.
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
8:30 a.m.: Initial Jobless Claims for the week ending September 4
(last plus 19,000). 8:30 a.m.: August Import Prices (last plus 0.2 percent). 10:00 a.m.: July Wholesale Trade (last plus 1.1 percent). 10:00 a.m.: DJ-BTM Business Barometer for the week ending August 28
(last unchanged). 12:00 p.m.: July Chicago Fed Midwest Manufacturing Index (last minus
0.7 percent). 4:00 p.m.: San Francisco Fed Pres Yellen speaks on the economic outlook,
monetary policy in Seattle.
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: http://www.investorsobserver.com/must 247profits.com: You'll get exclusive financial commentary, access to a global
network of experts and undiscovered stock alerts. Register NOW for the FREE
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
|