Schaeffer's S&P 500 Index Hot Stocks Features Waters, Lexmark International, Coach, Avaya, and Symantec.

CINCINNATI -- Among the stocks featured in the January 24 edition of Schaeffer's S&P 500 Index Hot Stocks are Waters (NYSE:WAT), Lexmark International (NYSE:LXK), Coach (NYSE:COH), Avaya (NYSE:AV), and Symantec (NASDAQ:SYMC). Schaeffer's S&P 500 Index Hot Stocks 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. 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 Tuesday, January 24, 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 - 1,267.97) 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 major market indices are holding on to their modest gains as we head into the final hour of trading today. So far, a pullback in crude-oil prices and some solid earnings reports have spurred traders to some light buying on the SPX, but the index remains capped by the 1,270 level and its 10-week moving average. Of the 500 components in the SPX, just 67 of them are currently trading in positive territory.

With earnings season shifting into high gear, the vast majority of today's outperforming and underperforming stocks have arrived on our list due to earnings performance. Leading off today's advancers, Waters (NYSE:WAT) reported a profit of $78.2 million, or 71 cents per share. On a non-GAAP basis, the company earned 73 cents per share, compared to analyst expectations for 64 cents a share. In response to this Street-beating performance, WAT has surged more than 13 percent higher on the day.

Lexington, Kentucky-based Lexmark International (NYSE:LXK) also wowed investors when it said that fourth-quarter net income arrived at $82.3 million, or 71 cents per share. Sales arrived at $1.37 billion. Analysts were looking for earnings of 50 cents per share. However, the results were disappointing to LXK, leading the firm to cut 825 positions and send 525 more to low-cost countries. Looking forward, the company expects to post first-quarter revenue in the high-single-digit to low-double-digit range, with earnings in a range from 60 cents to 70 cents per share. LXK was last seen higher by nearly 11 percent.

Coach (NYSE:COH) has rallied more than nine percent after the company posted second-quarter income of $174.2 million, or 45 cents per share, compared to $126.9 million, or 32 cents per share, last year. Excluding option expenses, the company earned 47 cents per share, toping analyst expectations for 44 cents per share. Net sales rose to $650.3 million, from $531.8 million last year.

Avaya (NYSE:AV) has been the target of some rather negative backlash from its earnings report yesterday. In fact, Citigroup downgraded the shares to "hold," saying that while earnings met its expectations, it's concerned about the outlook. "Our concerns include: lack of significant revenue growth potential; competition from Cisco in the IP telephony space; cost increases and currency headwinds dampening the margin expansion story; and existing consensus numbers that look meaningfully too aggressive -- especially in out years," the broker said. So far today, AV is leading decliners on the SPX, with a loss of more than 10 percent.

Symantec (NASDAQ:SYMC) is our lone non-earnings-related equity to make an appearance on today's list. After the close on Monday, SYMC announced that President Gary Bloom plans to leave the company before the end of March. Bloom is also expected to resign from his position as vice chairman of the board. At last check, SYMC was down approximately six percent.

Finally, SafeCo (SAFC) said that fourth-quarter net income rose to $190.7 million, or $1.53 per share, compared to $179.8 million, or $1.41 per share, last year. Analysts expected the company to earn $1.28 per share in the period. On the news, SAFC has shed more than three percent.

Click the following link to see a Chart of the SPX 500 Index's Top-20 Percentage Gainers: http://www.schaeffersresearch.com/wire?ID=15076 .

Click the following link to see a Chart of the SPX 500 Index's Top-20 Percentage Losers: http://www.schaeffersresearch.com/wire?ID=15076 .

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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 .