Schaeffer's Daily Market Blog Features Continental Airlines, EchoStar Communications, CVS Corp., Ross Stores, and Progressive.CINCINNATI -- Among the stocks featured in the March 15 edition of Schaeffer's Market Blog are Continental Airlines (NYSE NYSE See: New York Stock Exchange :CAL), EchoStar Communications (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 :DISH), CVS (1) (Concurrent Versions System) A version control system for Unix that was initially developed as a series of shell scripts in the mid-1980s. CVS maintains the changes between one source code version and another and stores all the changes in one file. Corp (NYSE:CVS), Ross Stores (NASDAQ:ROST), and Progressive (NYSE:PGR PGR Project Gotham Racing (game) PGR Procuraduría General de la República (Mexico) PGR Patriot Guard Riders (national motorcycle group based in Centennial, CO) ). Schaeffer's Market Blog is just one of the many free market commentaries written everyday 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. 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=PROB PROB Probable/Probably PROB Problem PROB People's Republic of Bangladesh 12M&PAGE=1 . Schaeffer's Market Blog for Wednesday, March 15, 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 . 2:39 PM More Gains for Airlines Another day and more gains for airlines, as the AMEX AMEX See: American Stock Exchange Airlines Index (XAL XAL Extended Application Language XAL Xenon Arc Lamp XAL XML-Accelerator Library XAL X10 Abstraction Library XAL Extensible Address Language - 53.54) has added another 1.48 percent today thanks to crude oil being down almost a buck. Although yesterday the XAL had a great day in the face of higher oil, today things are working like you'd expect; lower oil means higher airlines. Checking in on select airlines, the top two names are Continental Airlines (NYSE:CAL) and AMR (1) (Adaptive Multi-Rate) A variable rate speech codec selected by the 3GPP for the 3G evolution of the GSM cellphone system (WCDMA). Using the Algebraic CELP (ACELP) compression technology, AMR provides toll quality sound at transmission rates from 4.75 to 12. Corp. (AMR) - both are up around four-percent to make new multi-year highs. Given how many shorts are betting against these two names, there is the potential for a serious short-covering rally. 2:39 PM EchoStar Communications Rallies on Earnings News Early this morning, EchoStar Communications (NASDAQ:DISH) reported fourth-quarter net of $133 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. , a vast improvement over year-ago results of $70 million, or 15 cents per share. Total revenue expanded by 12.8 percent to $2.18 billion for the reporting period. Analysts were targeting per-share results of 35 cents on revenue of $2.19 billion, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. First Call. The satellite broadcasting concern said it added 3330,000 new net subscribers for the quarter, bringing the total customer base to 12.04 million. In 2005, DISH added around 1.14 million subscribers. DISH shares have rallied nearly two percent today and have been marching higher since mid-November, gaining almost 23 percent. Today's move has lifted the stock above its 20-month moving average. DISH has not closed above this long-term trendline on a monthly basis since May 2004. 11:54 AM Resignations at CVS Corp. CVS Corp. (NYSE:CVS) is in the news today after the pharmaceutical retailer's controller and treasurer both issued notices of resignation. This news follows an internal investigation into the accounting of a year-2000 sale of plush-toy inventory to a third party. The Securities and Exchange Commission has now opened an "informal inquiry" into the matter. Just before noon, the stock is off 2.8 percent after being in the red by as much as 3.8 percent earlier today. The shares violated vi·o·late tr.v. vi·o·lat·ed, vi·o·lat·ing, vi·o·lates 1. To break or disregard (a law or promise, for example). 2. To assault (a person) sexually. 3. their 10-day moving average this morning but have already recovered above this short-term trendline. Additionally, the stock's long-term uptrend uptrend A series of price increases in a security or in the general market. Some investors believe a security tends to take on a certain inertia; as a result, these investors search for stock in an uptrend, thinking that it will probably continue to move in along its 10-month and 20-month trendlines remains impressive. 11:06 AM Ross Stores Matches Earnings Expectations Before the open this morning, Ross Stores (NASDAQ:ROST) announced that fourth-quarter earnings soared 37 percent to $71 million, or 49 cents per share, compared to its year-ago results of $51.8 million, or 35 cents per share. Revenue for the three-month period jumped 16 percent to $1.41 billion, while 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. climbed six percent. The Street expected earnings of 49 cents per share on sales of $1.39 billion. Following a brief pop higher on the open, the retailer has retreated back below resistance at its 10-day and 20-day moving averages. The stock is currently down more than one percent and is testing former support/resistance in the 27.50 region. 10:58 AM Progressive Drops Despite Positive Earnings Progressive (NYSE:PGR) stated that net income totaled $126.5 million, or 64 cents per share, in February, down slightly from a profit of $127.7 million, or 63 cents per share, for the same period a year ago. The company's net premiums written inched two percent higher to $1.21 billion from $1.18 billion last year. The shares have rolled over since their positive start to the session and are currently down 0.22 percent after being rejected by resistance near their 20-day moving average. The stock is resting on it 10-day trendline and has additional support at the 102 level. This region has buoyed the equity since February 7. The above are just a few of today's Daily Market Blog entries. Click here to read all of today's Daily 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 Contrarian An investment style that goes against prevailing market trends by buys assets that are performing poorly and selling when they perform well. Notes: A contrarian investor believes that the people who say the market is going up do so only when they are fully 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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