PremierInvestor.net Newsletter Wednesday 04-21-2004 section 1 of 2 Copyright (c) 2004, All rights reserved. Redistribution in any form is strictly prohibited. The entire newsletter is best viewed in COURIER 10 for alignment ================================================================= In section one: Market Wrap: Greenspan Calms, Markets Climb Watch List: SVU, PDLI, MACR, PMCS Trading Ideas Value Plays With Bullish Signals Breakout to Upside (Stocks $5 to $20) Breakout to Upside (Stocks over $20) Breakout to Downside (Stocks over $20) Recently Overbought With Bearish Signals (Stocks over $20) =============================================================== MARKET WRAP (view in courier font for table alignment) =============================================================== 04-21-2004 High Low Volume Advance/Decline DJIA 10317.27 + 2.77 10332.88 10250.48 2.11 bln 1465/1385 NASDAQ 1995.63 + 17.00 1995.91 1973.25 2.04 bln 1848/1214 S&P 100 549.20 + 2.10 550.26 545.38 Totals 3313/2599 S&P 500 1124.09 + 5.94 1125.72 1116.03 RUS 2000 583.22 + 7.41 583.22 573.58 DJ TRANS 2954.42 + 43.15 2957.49 2895.92 VIX 15.60 - 1.07 16.94 15.55 VXO 15.74 - 0.77 17.59 15.58 VXN 22.82 - 0.25 23.35 22.43 Total Volume 4,627M Total UpVol 3,035M Total DnVol 1,540M 52wk Highs 158 52wk Lows 217 TRIN 1.75 PUT/CALL 0.68 =============================================================== =========== Market Wrap =========== Greenspan Calms, Markets Climb by James Brown Stocks opened lower following yesterday afternoon's steep decline and proceeded to trade in choppy action into the lunch hour. Fed Chairman Alan Greenspan managed to soothe the market's inflation and interest rate fears after his comments sparked yesterday's weakness. Alan's comments were bolstered by a strong Beige Book report and the markets ended up generally higher by the close spurred on by positive earnings results. Gold stocks were the biggest losers and continued to take a beating as gold futures dropped almost $7 on the strong dollar. Elsewhere buying was strong in airlines, defense, healthcare, homebuilders, networking, semiconductors and Internet stocks. Traders overreacted to Greenspan's comments yesterday and mistranslated his some of his answers as a sign that the Fed would have to raise rates much sooner than expected. The concern here is that when the Fed begins to tighten rates it could be the beginning in a series of rate hikes and that might choke off the burgeoning economic rebound in the U.S. thus negative affecting corporate profits which would impact stock prices. Alan helped put some of those fears to rest today when he said that if the Fed had to tighten there is no rule that says it has to be a string of rate hikes and that the Fed could stop at just one should it effective. Furthermore Greenspan was pretty bullish on the economy and despite the current environment of low rates he did not see any "broad-based inflation pressures...building." As a matter of fact his comments here, "recent data indicate that growth of activity has remained robust thus far this year. Household spending has continued to move up, and residential home sales and construction remain at elevated levels. In addition, the improvement in business activity has become more widespread. In the industrial sector, nearly two-thirds of the industries that make up the index of industrial production have experienced an increase in output over the past three months. More broadly, indicators of business investment point to increases in spending for many types of capital equipment. And importantly, the latest employment figures suggest that businesses are becoming more willing to add to their workforces, with the result that the labor market now appears to be gradually improving after a protracted period of weakness." were echoed in the Fed's Beige Book report out this afternoon. According to the report growth was "widespread" as "economic activity increased across the nation". The Beige Book also said that manufacturing improved across the country and labor markets were starting to improve as well. You can read Alan's comments here: http://www.federalreserve.gov/BoardDocs/Testimony/2004/20040421/default.htm You can read the Fed Beige Book report here: http://www.federalreserve.gov/fomc/beigebook/2004/20040421/default.htm The Dow Industrials ended the session up less than three points at 10,317 but significantly off its lows near 10,250. The S&P 500 index also posted a single-digit gain but it too was climbing into the closing bell. The NASDAQ composite jumped 17 points to 1995 and while still under the 2000 level it turned in the biggest improvement as numerous tech stocks turned in positive earnings reports. The optimist in me is still hoping that the consolidation in the Industrials will turn out to be a bull flag pattern (see chart) but the freshly minted sell signal in the Dow's MACD makes initiating new bullish positions a big step of faith. Meanwhile the NASDAQ is also in a new declining channel and if it rolls over again under 2020-2025 then a test of the 200-dma might not be far away. Overall market internals trended up positively toward the close. Advancing stocks nudged past decliners 14.6 to 13.8 on the NYSE while on the NASDAQ winners outpaced losers 3 to 2. Up volume was approximately double the down volume numbers across both exchanges while total volume was decent at more than 4 billion between the two. Chart of the Dow Industrials: Chart of the NASDAQ Composite: The earnings parade was marching past at full speed today and we had five Dow-components announcing with all of them surpassing analysts' expectations. First on our list is Honeywell (HON), a conglomerate, who turned in 34 cents per share. Analysts had been looking for 30 cents a share. Revenues soared past estimates to hit $6.18 billion for the quarter. Following HON is J.P.Morgan (JPM). JPM is the No 3 bank in the U.S. and currently in the process of merging with Bank One (ONE). Consensus estimates for JPM were 87 cents a share and JPM reported net income at 92 cents per share. Revenues also beat estimates at $8.98 billion. Coca-Cola Co (KO) is next on the list of Dow components and the beverage maker was expected to turn in profits at 44 cents a share. The biggest soft-drink maker in the world said net profits hit 46 cents a share on revenues of $5.08 billion, also above estimates. SBC Communications (SBC) is the fourth component and the telecom giant released earnings of 37 cents a share, which beat consensus estimates by 5 cents. Last but not least is another conglomerate United Technologies (UTX). Analysts were expecting UTX to report profits of $1.12 per share and revenues at $7.74 billion. The company turned in $1.14 per share on revenues of $8.65 billion. Out of the entire group only SBC managed to trade higher on its earnings news with a 41-cent gain to $24.77. There were dozens and dozens of corporate earnings announcements today and the general trend has been positive. Unfortunately, just beating estimates by a couple of cents (or even a nickel like the few mentioned above) is not enough to inspire more buying interest. Analysts will tell you good news of that magnitude is already baked in so investors are using the reports as an excuse to take profits. However, there are a few noteworthy exceptions. You've probably already heard of Motorola's (MOT) exceptional earnings report last night. The company turned in profits of 19 cents a share compared to estimates of just 7 cents and the stock exploded at the open today. Shares jumped almost 19% to close at three-year highs of $19.30 and lifted both the chip sector and the wireless sector. Before the opening bell Ford Motor Co (F) reported earnings (ex-items) of 96 cents per share. This was more than double last year's 45-cent number and this quarter's estimates of 44 cents per share. Revenues soared to $44.7 billion. The stock jumped more than 10% to close above several resistance levels at $14.94. Meanwhile, boosting the XAL airline index to a 2.46% gain was AMR Corp (AMR), the largest airliner in the U.S. Shares of AMR jumped more than 9% and closed above resistance at its 200-dma after reporting an earnings loss of just $1.03 a share, which is only a penny better than expectations but a vast improvement over last year's $6.68 loss per share. After the closing bell the earnings downpour continued. Internet auction behemoth EBAY said its quarterly profits almost doubled while the value of goods sold soared to $8 billion. Last year EBAY earned 16 cents in the first quarter and analysts had raised their expectations to 25 cents. Depending on which number you use EBAY earned 30-to-31 cents or $200.1 million. Driving the numbers was a 59% jump in sales and a 87% rise in international revenues. EBAY also raised its full year earnings and revenue guidance. Investors were also eager to hear from Qualcomm (QCOM). The CDMA-wireless giant reported earnings of 53 cents per share, not counting profits from its QSI investment arm, compared to 38 cents a year ago and 48 cent estimates. QCOM also raised its earnings estimates for the current quarter to 44-46 cents versus analysts' estimates of 39 cents. The good news wasn't limited to Internets or technology either. Caffeine merchant Starbucks (SBUX) reported very strong quarterly earnings after the closing bell. Analysts had been looking for 17 cents per share compared to 13 cents a year ago. SBUX said net income jumped to 19 cents or $79 million, a 53% jump. Furthermore SBUX said that its same-store sales soared 12%, the strongest rise in more than ten years. Management followed the good news by raising their full year estimates to 90-91 cents compared to Wall Street's estimate of 88 cents. If that's not enough earnings news for you the spectacle continues tomorrow. A few of the larger companies announcing before the opening bell are American Intl Group (AIG), AT&T (T), BellSouth (BLS), Beazer Homes (BZH), Caterpillar (CAT), Guidant (GDT), Hershey Foods (HSY), Kimberly Clark (KMB), Nextel (NXTL), Adolph Coors (RKY), Reebok (RBK), Schering-Plough (SGP), Textron (TXT), and UPS (UPS). Remember, that's just a select few before trading starts! Wall Street will also be eagerly looking for the March Producer Price Index (PPI) for any signs of inflation. Economists expect the delayed report to show a rise of 0.3% compared to a 0.1% in February. We'll also see the weekly jobless claims that are expected to drop to 340,000. Last but certainly not least will be THE earnings report of the day. That's right; Microsoft (MSFT) is due to report after the closing bell. Estimates for the software titan are at 29 cents per share. Trade carefully. The bullish side of my brain would like to think that investors will respond positively to the string of great earnings reports after the bell on Wednesday. Unfortunately the major averages have some significant resistance to break through before we can make any serious progress and odds are we could be stuck in a range bound market between now and the May 4th FOMC meeting. It's not that we're expecting any change in rates at the meeting but it's something investors can focus on as an excuse to be patient. ================================================================== WATCH LIST ================================================================== The PremierInvestor.net watch list is not designed to be read as full fledged stock picks. Rather we would prefer to offer it as an extra tool in today's investor toolbox. Think of it as a radar screen with your own radar operator pointing out interesting developments, technical patterns or potential plays that you may or may not have seen on your own. Due to time constraints we do glance at the news but rarely do we have time to fully read pertinent news stories, due background research and other necessary screens that investors should do before making a decision. A common exercise is to read the entry, glance at the sector and other stocks in that industry and then compare what's happening in the stock to what's happening in the broader market indices. We hope you enjoy the Watch List and that it proves to be a useful tool for your own trading success. STOCKS WORTH WATCHING --------------------------------- Supervalu Inc. - SVU - close: 30.88 change: +0.50 WHAT TO WATCH: We've had our eye on shares of SVU, looking for a breakout move and with solid earnings in the bag last week, that breakout appears to be just around the corner. Once through resistance, we're looking for the stock to continue its upward trek to the $34-35 area. Use a trigger over $31. --- Protein Design Labs - PDLI - close: 425.98 change: +0.61 HAT TO WATCH: PDLI has been lurking on our Watch List from time to time over the past couple weeks, as we're still looking for the stock to break out and run higher ahead of its May 4th earnings report. Yesterday's failed attempt was a bit disconcerting, but the rebound back near resistance today keeps the stock in play. Use a trigger over $26 or yesterday's high and look for a rally towards the $28-29 area. --- Macromedia Inc. - MACR - close: 18.77 change: +0.42 WHAT TO WATCH: Ready to go the other way? We recently looked at MACR as a bearish play on a rollover from the top of its channel near $21 and here it is bouncing from the bottom of that channel near $18. This is an aggressive play due to the fact that earnings are set to be released on the 28th, so the conservative traders will need to wait for the announcement before playing. Target entries on a rebound from the $18 area and target a return to resistance near $21. --- PMC-Sierra Inc. - PMCS - close: 15.07 change: +0.30 WHAT TO WATCH: Investors were clearly disappointed with PMCS' earnings report last week, as the stock broke down below the $16 support level and has continued to deteriorate this week. But we're starting to see the hint of a rebound. We don't want to try to play the stock bullish, as the trend is clearly down. But a failed rebound near $16 could provide a solid bearish entry. Target a drop to solid support near $14. --- =================== On the RADAR Screen =================== SIRI $3.47 - Investors didn't get what they were looking for from SIRI's earnings report and the stock plunged near 9%, ending right on key support at $3.45, as well as the 30-dma. A break below that level tomorrow could easily see a drop back to strong support near $3.00. Only aggressive traders need apply. LNUX $2.36 - So much for a possible double bottom! LNUX broke down hard on Wednesday and now the $2.75 level looms overhead as strong resistance. Chasing the stock lower after a nearly 10% plunge doesn't seem prudent, but a failed rebound near support may be just what the doctor ordered. Initial support will be found near $1.80 and then the $1.50 level will be an obvious price magnet. ================== Trading Ideas ================== This section contains stocks that meet criteria which may make them of interest to long and short side traders. These are not recommendations, nor have they been reviewed by PremierInvestor editors for investment potential. However, each of them has technical and fundamental characteristics that make them worthy of further review by traders and investors looking for fresh ideas. New stocks will appear daily following the market close. Value Plays With Bullish Signals --------------------------------- Ticker Company Name Close Change WFC Wells Fargo & Co New 56.21 +0.85 GSK Glaxosmithkline Plc (ADR) 42.19 +0.64 WB Wachovia Corp 45.28 +0.90 SNY Sanofi-Synthelabb (ADS) 32.46 +0.51 KFT Kraft Foods Inc 32.10 +0.83 WLP Wellpoint Health Network 112.83 +1.58 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- MOT Motorola Inc 19.30 +3.08 F Ford Motor Co 14.94 +1.38 SANM Sanmina-sci Corp 11.67 +1.48 MGM Metro-Goldwyn-Mayer Inc 19.75 +2.10 AMR AMR Corporation 13.12 +1.09 VICR Vicor Corp 16.42 +3.39 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- UN Unilever N.V. 70.58 +1.65 DCX Daimlerchrysler Ag 42.32 +1.49 ITW Illinois Tool Works Inc 85.50 +1.86 ACL Alcon Inc 73.54 +5.96 ZMH Zimmer Holdings 82.14 +2.74 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- PTR Petrochina Co Ltd (ADS) 44.54 -1.68 FNM Fannie Mae 70.70 -1.29 AMGN Amgen Inc 57.01 -1.56 UTX United Technologies Corp 85.02 -2.46 MER Merrill Lynch & Co 55.69 -1.16 RTP Rio Tinto Plc (ADR) 92.45 -3.71 AA Alcoa Inc 31.74 -1.34 CEO Cnooc Ltd (ADR) 38.97 -1.52 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- COX COX Communications Inc 31.39 -0.79 YPF YPF Sociedad Anonima 39.81 -0.60 CSC Computer Sciences Corp 42.45 -0.55 BJS BJ Services Co 43.07 -0.50 XTO XTO Energy Inc 26.71 -0.58 ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright 2004 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter Wednesday 04-21-2004 section 2 of 2 Copyright (c) 2004, All rights reserved. Redistribution in any form is strictly prohibited. The entire newsletter is best viewed in COURIER 10 for alignment ================================================================= In section two: Stop Loss Adjustments: IMAX, UNA Net Bulls (Tech Stocks) Bearish Play Updates: CSCO Active Trader (Non-tech Stocks) New Bullish plays: AAP, URBN Closed Bullish Plays: APA Stock Splits Announcements: BCR, BWA, BR, ERES, TK ================================================================== Stop Loss Adjustments ================================================================== IMAX - short Adjust from $5.75 down to $5.40 UNA - short Adjust from $21.75 down to $21.00 ================================================================== Net Bulls (NB) Tech Stock section ================================================================== ------------ Play Updates ------------ Bearish Play Updates -------------------- CSCO - tech stock short play - Heads up! Today's news pushed CSCO below support and triggered us at $21.94. Unfortunately, CSCO rebounded sharply and it looks like a bear trap. We're suggesting readers still looking for entries wait for CSCO to trade under today's low. ================================================================== Active Trader (AT) Non-Tech Stock section ================================================================== --------- New Plays --------- New Bullish Plays ----------------- Advance Auto Parts - AAP - close: 42.90 change: +0.68 stop: 40.00 Company Description: Advance Auto Parts, Inc. is specialty retailer of automotive parts, accessories and maintenance items to do-it-yourself customers in the United States. The company operates within the United States automotive aftermarket industry, which includes replacement parts (excluding tires), accessories, maintenance items, batteries and automotive fluids for cars and light trucks (pickup trucks, vans, minivans and sport utility vehicles). The company's combined operations are conducted in two operating segments, retail and wholesale. The retail segment consists of the company's retail operations operating under the trade names Advance Auto Parts, Advance Discount Auto Parts and Discount Auto Parts in the United States and Western Auto primarily in Puerto Rico and the Virgin Islands. The wholesale segment includes a wholesale distribution network servicing approximately 415 independently owned dealer stores in 42 states. Why we like it: Easily outpacing its better known and pricier cousin, Autozone (AZO) in its rally from the lows last year, shares of AAP doubled in price from below $20 to above $40 by last December. Since then the stock has been trading in a very healthy bullish consolidation pattern. The 4-month bull flag (between $38 and $43) looks ready to break to the upside and the timing couldn't be better, with the company scheduled to report earnings on March 19th, just under one month from now. The PnF chart certainly presents a bullish picture, with the huge column of X's corresponding to the rally over the past year giving a bullish price target over $80. Note how the consolidation over the past few months has failed to issue a Sell signal, keeping the strongly bullish picture intact. In late March, the stock rebounded off the bottom of the horizontal channel, moved up near $41, pulled back ever so slightly to find support just over the 50-dma ($40.40) and then resumed its upward journey. The past two days have seen the stock rallying strongly on improving volume and today's close at $42.90 has the stock right on the verge of a breakout. We don't want to get caught buying at the top of the recent range, so we'll use a trigger of $43.25, just over Tuesday's intraday high. Once through resistance, we're looking for the stock to continue with the rally that led to the recent consolidation, with an initial upside target of $48. Of course, if the bulls pile on, the $50 psychological target certainly is possible. Aggressive traders can enter on the initial breakout over resistance, while the more conservative approach would be to then look for a pullback to $42-43, confirming that former resistance is now acting as support. We'll set our stop initially at $40, just below last week's consolidation lows, as well as the 50-dma. IF entering on the initial breakout, make sure the move is confirmed by continued strong volume. Annotated Chart of AAP: Picked on April 21st at $42.90 Change since picked +0.00 Earnings Date 5/19/04 (confirmed) Average Daily Volume = 601 K --- Urban Outfitters - URBN - close: 47.13 change: +0.88 stop: 44.00 Company Description: Urban Outfitters, Inc. is a lifestyle merchandising company that operates specialty retail stores under the Urban Outfitters, Anthropologie and Free People brands, as well as the Free People wholesale division. The company has experience creating and managing retail stores that offer highly differentiated collections of fashion apparel, accessories and home goods. In addition to its retail stores, the company offers its products and markets its brands directly to the consumer through its e- commerce websites, www.urbn.com and www.anthropologie.com, and the Urban Outfitters and Anthropologie catalogs. As of January 31, 2003, URBN operated 93 stores in the United States, Europe and Canada. In addition, the company engages in the wholesale distribution of apparel to approximately 1,100 specialty retailers worldwide. Why we like it: Clearly stronger than the overall Retail sector (RLX.X) over the past year, shares of URBN have had an impressive run, vaulting from below $10 to a high earlier this month of $50. Looked at in terms of how far the stock has come, it would seem to be an aggressive move to try to play it for another bullish move here. But looking at the daily chart, we can see that the stock has had a healthy pullback over the past couple weeks and is consolidating nicely, just over the 30-dma ($46.08). This isn't necessarily the highest odds spot for an entry, but if we look at the past several months of price action, the stock has established a pattern of dipping into the area between the 30-dma and the 50-dma ($44.99) and then rallying to new highs. With the RLX still holding very near its highs, this looks like an opportunity to play for a repeat of the pattern. The company reported earnings in early March, so there won't be another earnings event to be concerned about until early June. Note that the post-earnings dip to the 50-dma resulted in the latest breakout move that took the stop up above $50 earlier this month. The current location of the 50-dma lines up nicely with broken resistance at $45, making it a strong level of support and an excellent place to enter new bullish positions. Note how the dip last week found plenty of buying support near that level. We aren't going to use a trigger on the play, and will suggest the best setup for new entries will be on another dip near the 30- dma, with an outside chance of an intraday dip to the 50-dma. More aggressive traders can consider a breakout entry over $47.50, which would constitute a violation of the recent trend of lower highs. Our initial target will be for a return to the $50- 51 area, which served as strong resistance in early April. But if we can get a breakout, then a run as high as $54-55 could be possible. Knowing that all patterns fail eventually, we want to keep a tight reign on the play, and we'll use a stop at $44, which is a full dollar below the 50-dma. If hit, we'll have a strong indication that the strength of the current trend may be waning. Annotated Chart of URBN: Picked on April 21st at $47.13 Change since picked +0.00 Earnings Date 3/11/04 (confirmed) Average Daily Volume = 590 K ============ Closed Plays ============ Closed Bullish Plays -------------------- Apache Corp. - APA - close: 44.07 change: -0.02 stop: 43.00 Things were looking so good for our APA play as last week drew to a close. The stock had finally broken out over strong resistance and was charging into new-high territory on strong volume. Unfortunately, that bullish action didn't last much past Monday's opening bell though, as APA spent the remainder of the week dropping back to test broken resistance near $43.50 as new-found support. After testing that level this morning, the stock did manage a rebound into the close, but that's too late for our purposes. APA is set to release earnings tomorrow and as noted over the weekend, we're dropping the play ahead of that event. Picked on March 17th at $43.17 Change since picked +0.90 Earnings Date 4/22/04 (confirmed) Average Daily Volume = 2.34 mln ================================================================== Stock Splits ================================================================== Announcements ------------- BCR sings a 2-for-1 stock split 30 minutes before Wednesday's opening bell, C.R.Bard (NYSE:BCR) announced that its Board of Directors had approved a 2-for-1 stock split of its common shares and declared a quarterly cash dividend. The quarterly cash dividend is 23 cents per share and payable on a pre-split basis due May 14th, 2003 to shareholders on record as of May 3rd. The stock split is payable as a stock dividend on May 28th to shareholders on record as of May 17th. About the company: C. R. Bard, Inc. (www.crbard.com), headquartered in Murray Hill, N.J., is a leading multinational developer, manufacturer, and marketer of innovative, life-enhancing medical technologies in the fields of vascular, urology, oncology, and surgical specialty products. (source: company press release) --- Shareholders Approve Splits for BWA and BR Annual shareholders meetings for BorgWarner Inc. (BWA) and Burlington Resources (BR) were held today. Both companies had previously announced splits but the decision to split the stock was subject to shareholder approval. BWA shareholders voted to increase the number of authorized shares from 50 million to 150 million, which will allow for BWA's 2-for-1 split to take affect. The payable date is May 17th for shareholders of record on May 3rd. BR shareholders approved to increase the number of authorized shares from 325 million to 650 million. This will allow for BR's previously announced 2-for-1 split. The split is payable on June 1st to shareholders on record as of May 5th. --- ERES provides a 3-for-2 split Shortly after this evening's closing bell, eResearchTechnology, Inc. (NASDAQ:ERES) announced that its Board of Directors has approved a 3-for-2 stock split and a stock buyback program. The split will be distributed on May 27th, 2004 to shareholders on record as of May 6th. The number of shares outstanding should jump to 51.3 million. The stock buy back will allow ERES to purchase upwards of 500,000 post-split shares. About the company: Based in Philadelphia, PA, eResearchTechnology, Inc. (www.eRT.com) is a provider of technology and services to the pharmaceutical, biotechnology and medical device industries on a global basis. The company is a market leader in providing centralized core- diagnostic electrocardiographic (ECG) technology and services to evaluate cardiac safety in clinical development. The company is also a leader in providing technology and services to streamline the clinical trials process by enabling its customers to automate the collection, analysis, and distribution of clinical data in all phases of clinical development. (source: company press release) --- TK ships out a 2-for-1 split After Wednesday's closing bell, Teekay Shipping Corp (NYSE:TK) reported Q1 earnings and with its results announced a 2-for-1 stock split. The Board of Directors approved the 2:1 split as a 100% stock dividend. This dividend is payable on May 17th, 2004 to shareholders on record as of May 3rd. About the company: Teekay is the world's leading provider of international crude oil and petroleum product transportation services, transporting more than 10% of the world's sea-borne oil. With offices in 13 countries, Teekay employs more than 4,700 seagoing and shore-based staff around the world. The Company has earned a reputation for safety and excellence in providing transportation services to major oil companies, oil traders and government agencies worldwide. (source: company press release) ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright (c) 2004 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
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