Schaeffer's S&P 500 Index Hot Stocks Features Mylan Laboratories, Honeywell International, Freescale Semiconductor, American Power Conversion, and Amazon.com.

CINCINNATI -- Among the stocks featured in the February 3 edition of Schaeffer's S&P 500 Index Hot Stocks are Mylan Laboratories (NYSE:MYL), Honeywell International (NYSE:HON), Freescale Semiconductor (NYSE:FSL), American Power Conversion (NASDAQ:APCC), and Amazon.com (NASDAQ:AMZN). Schaeffer's S&P 500 Index Hot Stocks 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. 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=PRSHS12M&PAGE=1 .

Schaeffer's S&P 500 Index Hot Stocks for Friday, February 3, 2006:

A daily feature available on SchaeffersResearch.com is the "SPX Hot Stocks" column. Each afternoon, we will provide a list of the day's top-20 performing stocks in the S&P 500 Index (SPX - 1,266.98) as well as the bottom-20 names. Featured along with this table will be news that is moving some of the securities.

NOTE: Stocks trading under $5 per share have been eliminated from this listing of the top-20 and bottom-20 performing stocks.

The SPX is wallowing in negative territory again this afternoon. The index is still suffering as investors were disappointed by a lower-than-expected 193,000 jobs added to nonfarm payrolls during January. This addition leaves the door open for the Federal Reserve to lift the interest rate. Unlike yesterday, more than 100 SPX components are in positive territory; not unlike yesterday though, decliners still lead advancers. Of the 500 components, 214 (43 percent) have advanced. The SPX is poised to finish this week lower than the last, and is going to need a late-day rally to finish above its 10-week moving average. Let's see what the last hour-plus holds.

As is customary, let's start with the good news. Mylan Laboratories (NYSE:MYL) is far and away our top gainer of the day, logging a jump greater than 10 percent. MYL posted better-than-expected, third-quarter results of 25 cents per share. MYL then narrowed its fiscal 2006 forecast to 94 cents to one dollar per share (ex-items), while investors look for 97 cents per share. The company's 2007 forecast also brackets the consensus estimate. Wachovia upgraded the security to "outperform" from "market perform" thanks to the positive results and forecast.

We have to dig a bit to find news on the positive side, but that doesn't mean that news is non-existent. SPX member, Honeywell International (NYSE:HON) is moving higher today, thanks to a sweet upgrade. HON was upgraded to "buy" from "hold" at Citigroup, thanks to improving trends for revenue, margins, cash flow, and return on invested capital. Citigroup also raised its price target to $46 from $40, its 2006 earnings estimate to $2.50 per share from $2.45 per share, its 2007 forecast from $2.75 per share to $2.90 per share, and (finally) its 2008 projection to $3.25 per share from $3.05 per share. HON increased more than two percent in trading thanks to this upgrade and subsequent elevated forecasts.

The final advancing stock under the hot-stocks microscope this afternoon is Freescale Semiconductor (NYSE:FSL). Credit Suisse First Boston (CSFB) upgraded FSL to "outperform" from "neutral." CSFB attributed the elevation to improving growth prospects and more opportunities with FSL's former parent company, Motorola (MOT). The brokerage maintained its 12-month price target of $32 on FSL. The semi company increased more than two percent thanks to this upgrade.

Turning to the downside, American Power Conversion (NASDAQ:APCC) plummeted more than 14 percent following yesterday's disappointing fourth-quarter earnings news. APCC posted ex-item earnings of 19 cents per share on revenue of $578.6 million. The consensus estimate stood at 26 cents per share and revenue of $564 million.

APCC may have dropped more, but Amazon.com (NASDAQ:AMZN) dropped the loudest today. The online retailer plunged more than 10 percent after reporting disappointing earnings after the bell yesterday. During the fourth-quarter, AMZN earned 21 cents per share, matching the Street's estimate. The disappointment settled in when AMZN posted quarterly sales of $2.98 billion. While this isn't a bad quarter's work, it is less than investors were expecting. In addition, AMZN's year-over-year growth of unit shipments of 22 percent was its lowest. The retailer's expenses rose 32 percent, nearly twice the rate of its sales increase.

Click the following link to see a Chart of the SPX 500 Index's Top-20 Percentage Gainers: http://www.schaeffersresearch.com/wire?ID=15199 .

Click the following link to see a Chart of the SPX 500 Index's Top-20 Percentage Losers: http://www.schaeffersresearch.com/wire?ID=15199 .

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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 .