Schaeffer's Daily Market Blog Features: Joseph A. Bank Clothiers, Brocade Communications, Vanda, Perry Ellis International, and Parlux Fragrances.CINCINNATI -- Among the stocks featured in the December 7 edition of Schaeffer's Market Blog are Joseph A. Bank Clothiers (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :JOSB), Brocade Communications (NASDAQ:BRCD), Vanda (NASDAQ:VNDA), Perry Ellis International Perry Ellis International is a leading international marketer of clothing, offering a diverse portfolio of brands through multiple distribution channels. PEI Brands
PARL Periapical Radiolucency PARL Performance Assessment Report Lead PARL Performance and Acountability Reporting Lead ). 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 In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. by Schaeffer's financial analysts and traders. They are quick insights to the day's most notable market activity from an options perspective. To have this report delivered to you free via email every day click on the following link and you'll also get an opportunity to win an iPod Nano A flash-based digital music player from Apple, introduced in 2005. Like larger iPod models, the nano has a color screen. Although the nano name suggests ultra-small "nanotechnology," the iPod shuffle is actually smaller. See iPod. . http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB PROB Probable/Probably PROB Problem PROB People's Republic of Bangladesh 13M&PAGE=1 . Don't forget that many of our observations are available as audio presentations that you can hear on your computer or download from Apple's iTunes Music Store to play on a portable device such as an iPod. To see the full menu of podcasts, please visit http://www.schaeffersresearch.com/commentary/podcasts/. 11:22 AM Jos. A Bank Technicals Save Short Sellers Early this morning, Joseph A. Bank Clothiers (NASDAQ:JOSB) reported that third-quarter earnings rose 17 percent from last year to $5.5 million, or 30 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . Analysts were anticipating a profit of 29 cents per share. Sales rose 13 percent to $119.5 million. Same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. rose 2.3 percent. Heading into the report, expectations on the Street were decidedly low. WhisperNumber.com quoted JOSB's whisper number Whisper Number Unofficial and unpublished earnings per share forecasts that circulate among the professionals and wealthy investors on Wall Street. Whisper numbers are especially useful when they differ from the consensus forecast. at 28 cents per share, with the website's consensus of investors offering up opinions arriving a penny below the analyst view. Furthermore, Zacks reported that four of the five brokerage firms offering up an opinion on the shares rated them a "hold." And the biggest potential driver arrived from the short-selling community, as more than 44 percent of the stock's total float was sold short. So, why didn't all these bears rush for the exits? The answer is: "Never under estimate technical resistance." Scanning JOSB's technical charts, I found that the stock has been capped by its 10-month trendline since April. What's more, today's peak in the equity at $32.52 coincides roughly with this long-term moving average. Apparently, today's good earnings news was not solid enough to punch JOSB through this rather stout line in the sand. 1:40 Brocade May Still Have Room to Run Heavy put option volume on Brocade Communications (NASDAQ:BRCD) may be depressing the stock in the short-term, but the upward trend could resume as these bearish Bearish Words used to describe investor attitude. A bearish investor believes that a particular asset or the market as a whole will decline in value. bearish players seem to be reaching extreme levels. When sentiment is concentrated on one side of the trade, that's rarely the side you want to be playing on. Given the strong upward trend of BRCD shares over the past few months, the high level of pessimism is exactly the type of "wall of worry" that stocks like to climb. Today's put option volume on the shares is more than four times respective call options volume. 2:03 PM Vanda Up Dramatically Rockville, MD.-based pharmaceutical company Vanda (NASDAQ:VNDA) made previously unseen gains today after announcing positive results for Phase III Noun 1. phase III - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the FDA trials of its experimental schizophrenia drug, Iloperidone. Barring complications, the company plans to file a new drug application in late 2007. Adding to this, in an interview with CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. today Vanda's Chief Executive said that a number of pharmaceutical companies have expressed interest in acquiring the outfit. Since going public last spring, the stock found resistance at the 10-level until jumping and finding support at the 14-level in mid-November. Today, however, VNDA has soared 11 points to stand at $23.40, an increase of 70 percent. 2:58 PM Parlux and Perry Ellis Perry Ellis (March 3, 1940 – May 30, 1986) was an American fashion designer who founded a sportswear house in the mid-1970s. The Rise of Perry Ellis Perry Edwin Ellis was born in Portsmouth, Virginia, on March 3, 1940, as the only child of Edwin and Winifred See Two Different Outcomes Yesterday, Perry Ellis International (NASDAQ:PERY) agreed to a $63 million cash deal wherein they would re-acquire their namesake name·sake n. One that is named after another. [From the phrase for the name's sake.] namesake Noun fragrance line from Parlux Fragrances (NASDAQ:PARL). The Perry Ellis fragrance has accounted for approximately 40 percent of PARL revenue over the last several years. A spokesperson for PARL said that the deal "allows us to strengthen our balance sheet and have additional resources to expand our other brands." Since hitting an all-time high of $19.24 back in February of this year, PARL has been in something of a tailspin tail·spin n. 1. The rapid descent of an aircraft in a steep, spiral spin. 2. Informal A loss of emotional control sometimes resulting in emotional collapse. . After finding brief support at the 6.50-level over the last month, the shares are again on the descent, currently at $5.80, a drop of 13 percent from yesterday's close. PERY, on the other hand, continues on a gradual and steady ascent, hitting an all-time high of $41.73 earlier today. 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=PROB13C&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 and get entered to win an IPod Nano. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB13M&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. Click here for more details about Schaeffer's trading methodology: http://www.SchaeffersResearch.com/method . |
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