Watch List for June 12, 1998
Markets looks like they are correcting. Some popular portfolio holders are not seeking any new buys but selling out their profitable positions (and their not so profitable ones) One portfolio is bullish on LBOR and I tend to agree.
There were some stocks on the list that bucked the trend, especially COST, SEEK and AEOS. Still others were about status quo with small gains like OWN,TGH, and ADSI that was even (I still like that one)
I'm still bullish on COST, BBY (the energizer bunny), but would not advocate any new position in it at this time until a trend is established tomorrow.
Oil service sector is so low now that I wouldn't be surprised if there is rebound because it is so very oversold. I'd take a look at that tomorrow.
1> MTC - MONSANTO CO COM .CHE
1-Dy = 98.9 ( 47) VL/30= 66.5 ( 71) Price= 58.0 ( 95)
2> LUV - SOUTHWEST AIRLINES CO COM .ATR
1-Dy = 100.0 ( 79) VL/30= 68.7 ( 72) Price= 28.9 ( 84)
3> COST - COSTCO COMPANIES INC COM .RWC
1-Dy = 100.0 ( 79) VL/30= 108.6 ( 84) Price= 59.9 ( 95)
4> NWS - NEWS CORP LTD A D R .PNE
1-Dy = 103.9 ( 95) VL/30= 462.2 ( 98) Price= 24.5 ( 79)
5> SLM - S L M HOLDING CORP COM .FAE
1-Dy = 104.5 ( 96) VL/30= 135.2 ( 89) Price= 38.8 ( 90)
6> EAGL - EAGLE HARDWARE&GARDEN INC COM .RSP
1-Dy = 106.5 ( 97) VL/30= 812.7 ( 99) Price= 20.3 ( 71)
7> ADM - ARCHER DANIELS MIDLAND CO COM .FCR
1-Dy = 101.5 ( 90) VL/30= 78.4 ( 75) Price= 20.3 ( 71)
8> BBY - BEST BUY CO INC-LEAPS 99 S/O .RSP
1-Dy = 103.2 ( 94) VL/30= 124.2 ( 87) Price= 39.5 ( 90)
9> KM - K MART CORP COM .RDI
1-Dy = 100.0 ( 79) VL/30= 102.5 ( 82) Price= 20.6 ( 72)
10> TSN - TYSON FOODS INC CL A CL A .FMP
1-Dy = 104.6 ( 96) VL/30= 256.2 ( 96) Price= 24.1 ( 78)
11> GLBL - GLOBAL INDUSTRIES LTD COM .OWD
1-Dy = 100.0 ( 79) VL/30= 226.9 ( 95) Price= 19.6 ( 70)
12> IGL - I M C GLOBAL INC COM .CAG
1-Dy = 101.0 ( 87) VL/30= 378.5 ( 98) Price= 30.4 ( 85)
13> UVSGA - UNITED VIDEO SATELLITE CL A .BPE
1-Dy = 104.0 ( 95) VL/30= 432.8 ( 98) Price= 38.5 ( 90)
14> INMT - INTERMET CORP COM .APT
1-Dy = 101.3 ( 89) VL/30= 85.6 ( 78)Price= 18.4 ( 67)
ARticle I noticed on ARQL on today's watch lists...
6/11/98 - WYETH-AYERST INVESTS $2.0 MILLION IN ARQULE, INC. IN ACCORD WITH
Five Year Drug Discovery Collaboration
MEDFORD, Mass., June 11 /PRNewswire/ -- ArQule, Inc. (Nasdaq: ARQL) announced today that Wyeth-Ayerst Pharmaceuticals, a division of American Home Products Corporation (NYSE: AHP), has made a $2.0 million equity investment in ArQule, to collaborate in the discovery and optimization of drug candidates for a minimum of 15 of Wyeth-Ayerst's selected pharmaceutical targets. This investment is in accordance with the Common Stock Purchase Agreement and the Research and License Agreement, both dated July 3, 1997 (the "Agreements"). Under the terms of the Agreements, Wyeth-Ayerst committed to pay ArQule approximately $28 million, including the $2 million equity investment, as well as additional fees and milestone payments, as compounds enter clinical trials. In addition, ArQule will be entitled to royalties from sales of any products emanating from this collaboration. |
