MORNING UPDATE: Man Securities Issues Alerts for NT, UCOMA, NSM,
SCHN, and TLCV
CHICAGO, April 2 /PRNewswire/ -- Man Securities issues the following Morning Update at 8:30 AM EST with new PriceWatch Alerts for key stocks.
Before the open... PriceWatch Alerts for NT, UCOMA, NSM, SCHN, and TLCV, Market Overview, Today's Economic Calendar, and the Quote Of The Day.
QUOTE OF THE DAY
"The jobs report is going to be very big. We know how the market will react to a negative number, but it'll be interesting to see how it reacts to a positive number."
-- Michael Palazzi, managing director, SG Cowen Securities New PriceWatch Alerts for NT, UCOMA, NSM, SCHN, and TLCV... PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS -- Nortel Networks Corp. (NYSE: NT) Last Price 6.12 - JUN 5.00 CALL OPTION@ $1.35 -> 4.8 % Return assigned* -- UnitedGlobalCom Inc. (Nasdaq: UCOMA) Last Price 8.11 - MAY 7.50 CALL OPTION@ $0.95 -> 4.7 % Return assigned* -- National Semiconductor Corp. (NYSE: NSM) Last Price 45.46 - MAY 45.00 CALL OPTION@ $3.20 -> 6.5 % Return assigned* -- Schnitzer Steel Industries Inc. (Nasdaq: SCHN) Last Price 32.12 - APR 30.00 CALL OPTION@ $3.60 -> 5.2 % Return assigned* -- TLC Vision Corp. (Nasdaq: TLCV) Last Price 12.00 - MAY 10.00 CALL OPTION@ $2.50 -> 5.3 % 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: www.investorsobserver.com/mu18
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NOTE: All stocks and options shown are examples only. These are not recommendations to buy or sell any security.
Overseas markets are putting on a positive face, but appear hesitant to go too far out on the "long" limb. Currently 12 of the 15 markets that we track are positive. The cumulative average return on the group stands at a positive 0.381 percent. A dis-inflationary trend remains intact in the Euro-Zone as hinted by the February Producer Price Index for the region. The February index rose by just 0.1 percent on expectations for a 0.2 percent rise. On a year over year basis, the index was flat. The strength in the euro was mentioned as a contributing factor to the decline in producer prices and would seem to put some pressure on the European Central Bank (ECB) to reduce interest rates. Recall that as of yesterday the governing body decided to hold its key short-term rate at 2.0 percent.
It will be all about the sore subject of employment today, with a totally empty earnings calendar. Before the open of the regular trading session, March Non-Farm Payrolls will be released with expectations for the creation of 120,000 jobs. February offered up a disappointing increase of just 21,000 jobs. The companion report, March Unemployment Rate, is seen holding at 5.6 percent. Now to get you up to speed, we revisit yesterday's release of the weekly initial claims numbers. The number of U.S. workers filing first-time applications for unemployment benefits declined slightly in the week ending March 27 by 3,000 to a seasonally adjusted 342,000. The four-week average was unchanged at 340,250. Continuing claims climbed by 32,000 to 3,062,000. According to research by Deutsche Bank, the volume of initial claims recently has been a poor indicator of growth in non-farm payrolls. From 1981 through 2000, weekly initial claims of 350,000 signaled a monthly increase of 250,000 in non-farm payrolls. The four-week average of claims has held between 340,000 and 360,000 this year and job growth has remained disappointing at best. At this time I am not sure what non-farms number will appease the market, but we certainly have a lot of catching up to do. Deutsche Bank gave us some historical perspective, so what do you think the expected 120,000 will do? If you are keeping a tally for the next report, add Gateway as reducing some 2,500 positions and Sun Microsystems as planning to eliminate about 3,000 jobs. Certainly these are just two companies, but this is not the direction you would expect during an "economic recovery."
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
A busy week for the Wall Street fledglings this week, with seven IPO's making their debut. Several more are set to start trading publicly early this month. The Profit Hog team has identified one of the potential big winners in Cutera -- a California-based medical device maker, debuting on the NASDAQ. Cosmetic surgery is a lucrative business. Last year, almost 8.3 million people went under the surgeon's knife for everything from breast implants, liposuction and face-lifts. While the industry is one often associated with Hollywood's rich and famous, ever-increasing numbers of ordinary people are piling into cosmetic clinics across America in hopes of coming out a changed person. And when you think of how much publicity the industry gets on television entertainment shows and reality shows, it's hardly surprising. In an age where good looks seem to be everything, it's a pretty safe bet that this will continue to be a flourishing industry. That's why Cutera has so much upside potential. Its cosmetic laser surgery devices helped the company rake in $1.7 million in net income and $26.6 million in revenue in the first three quarters of 2003. Cutera was recently priced at $14 -- the low end of its $14-$16 range. Other IPO's to watch include NewAlliance Bancshares, JED Oil, Marchex, and Immunicon.
The Profit Hog's Christian DeHaemer has written a comprehensive FREE report. Read it immediately by following this link: http://www.investorsobserver.com/agora6
TODAY'S ECONOMIC CALENDAR 8:30 a.m.: March Non-Farm Payrolls (seen at plus 120,000, last plus 21,000). 8:30 a.m.: March Unemployment Rate (seen at 5.6 percent, last 5.6 percent). 9:40 a.m.: March ECRI Inflation Gauge (last 116.0). 12:30 p.m.: Treasury Assistant Secretary Abernathy addresses home equity mortgage conference on mortgage standards in Boca Raton, Florida.
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SOURCE Man Securities
-0- 04/02/2004 /CONTACT: Michael Lavelle of Man Securities, +1-800-837-6212/ /Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020214/MANSECLOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840/ /Web site: http://www.mansecurities.com/mu.html /
(NT UCOMA NSM SCHN TLCV)
CO: Man Securities; Nortel Networks Corp.; UnitedGlobalCom Inc.; National
Semiconductor Corp.; Schnitzer Steel Industries Inc.; TLC Vision Corp. ST: Illinois IN: FIN PUB SU: INO -0- Apr/02/2004 14:36 GMT