Systems, Altria Group, and Reynolds American CINCINNATI--(BUSINESS WIRE)--July 6, 2006 Among the stocks featured in the July 6 edition of Schaeffer's Market Blog are Target (NYSE:TGT), Saks (NYSE:SKS), Openwave Systems (NASDAQ:OPWV), Altria Group (NYSE:MO), and Reynolds American (NYSE:RAI). Schaeffer's Market Blog is just one of the many free market commentaries written every day at www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research. The Market Blog is written throughout every trading day by Schaeffer's financial analysts and traders. They are quick insights to the day's most notable market activity from an options perspective. 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=PROB12M&PAGE=1 . Schaeffer's Market Blog for Thursday, July 6, 2006: Below are just a few of today's Market Blog entries. Click here to read all of today's Market Blog: http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB1C&PAGE=1 . 10:15 AM Target Beats the Street Same-store sales data have rolled in this morning. Discount-store chain Target (NYSE:TGT) announced that June same-store sales rose 4.8 percent from the same period a year ago. Analysts had predicted an increase of 4.3 percent. The retailer also stated that it is now confident it can meet, or even beat, its earnings goal of 69 cents for the second quarter. What's more, the firm reported that it expects its July same-store sales to rise in a range of four to six percent. In the year-ago period, same-store sales rose 5.5 percent. In early trading, the shares are up 1.9 percent, as they jumped off support at the 48 level and have clambered above their 10-day and 20-day moving averages. 10:34 AM Saks: It's in the Bag Sticking with retailers for a while, Saks (NYSE:SKS) also presented its monthly sales data. The retailer reported that June same-store sales rose 4.7 percent, thumping the Street estimate for a rise of one percent. Total sales for the five weeks ended July 1 dropped 43.8 percent to $306.8 million from $546.1 million in the same period a year earlier. Technically speaking, the security is up more than one percent on the news, but remains locked in a sideways channel. The stock has been trapped between resistance in the 17 area and support in the 15.40 region since the equity gapped lower on May 2. 11:23 AM Openwave Systems Leads List of Nasdaq Decliners Wireless software developer Openwave Systems (NASDAQ:OPWV) has lost nearly one-third of its value today, plunging into single-digit territory and pegging a new annual low. The firm said its fourth-quarter loss is expected total between 13 and 14 cents per share, with sales of $90 million to $92 million. On an adjusted basis, OPWV officials expect to break even. Analysts were targeting per-share results of 22 cents per share on $122 million in revenue. The firm's president noted that these fourth-quarter projections are "disappointing" but affirmed that "we (OPWV) continue to see customer momentum worldwide and are confident in our strategy as we enter fiscal 2007." Today's decline ushered the security into territory not visited since July 2003. Options activity is modest, despite the dramatic move in the underlying equity. Among the most actively traded options today are the January 2007 10 put, where nearly 4,700 contracts have changed hands, and the July 7.50 put, where 2,100 contracts, likely new positions, have crossed the tape. 11:29 AM Altria and Reynolds American on Fire Following Court Ruling I just happened to glance over my shoulder and see breaking news on CNBC that the Florida Supreme Court threw out a $145 billion punitive damage award against cigarette makers, and decertified the case as a class action. The court stated, "we unanimously conclude that the punitive damages award is excessive as a matter of law." This judgment is considered a major victory for the tobacco industry, and my colleague, Joseph Hargett, was quick to point out the jump for both Altria (NYSE:MO) and Reynolds American (NYSE:RAI) . In fact, MO is challenging its all-time high of 78.68 after vaulting nearly seven percent. In the process, MO took out resistance at the 75 and 78 levels. RAI actually hit a new all-time high of 120.99, but has since backed down a bit. Let's see if the shares regroup and take another run at breaking through 121. Currently, RAI boasts a gain of nearly five percent on the day. For more information on these stocks or any stock in your portfolio, feel free to visit our Schaeffer's Equity Scorecard feature. Click here to read all of today's Market Blog: http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB1C&PAGE=1 . Take advantage of the timely Schaeffer commentaries by signing up for 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=PROB12M&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. 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Schaeffer's Daily Market Blog Features: Target, Saks, Openwave
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