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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject5/31/2001 10:03:34 AM
From: besttrader   of 37746
 
09:59 ET Market Movers : Xerox (XRX 10.01 +0.98) investors applauding news that new auditor found no major accounting issues... ARIAD Pharmaceuticals (ARIA 5.58 +0.45) to report major advances in its Argent cancer and stem cell therapies... Shares of Philadelphia Consolidated (PHLY 31.20 +2.18) to be added to the S&P SmallCap 600.




09:55 ET Novellus (NVLS) 46.27 -0.23 (-0.4%): -- Technical -- Held in the support zone mention in the Morning Movers story between 45/44 and rebounded. Ability to maintain a posture above this area during morning gyrations would argue that the very short term upside bias will remain intact; improving intraday technicals encouraging. Resistance is at its 50 day simple ma at 48.3. Other chip equipment stock eyeing resistance at its 50 day is AMAT (49.9).




09:54 ET Micromuse (MUSE) 38.85 +1.08: In a pre-market note, Banc of America intiates coverage with a BUY rating a price target of $45; says MUSE continues to sell its product well, despite the IT spending downturn; cites strong pipeline and a broad customer footprint for cross-sell opportunities.




09:42 ET Starbucks (SBUX) 19.53 -0.56 (-2.8%): Being impacted by Lehman note previewing company's May comps report due out post-close; firm feels that decelerating comps (albeit to be expected) will likely limit valuation upside; has little visibility on a return to comps momentum.
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