Schaeffer's S&P 500 Index Hot Stocks for Monday, December 27, 2004:
A daily feature available on SchaeffersResearch.com is the "SPX Hot Stocks" column. Each afternoon immediately prior to the close, we will provide a list of the day's top-20 performing stocks in the S&P 500 Index (SPX - 1,208.83) as well as the bottom-20 names. Featured along with this table will be news that is moving some of the shares.
It's been a rather volatile day for the SPX, as the broad market indicator has gone from an intraday high of 1,214.17 to its current perch just below breakeven. Alternative energy company Calpine (NYSE:CPN) is one of the few energy stocks doing well amid today's sell-off in the oil patch. The stock has gained more than five percent so far today, and appears to be riding last week's news that one of its subsidiaries completed a $195-million project financing for 525-MW Valladolid III Engergy center in Mexico.
Telecommunication stocks are also faring well today, at least those not associated with phone services. Fiber-optic concern CIENA (NASDAQ:CIEN) is surging higher today, as the telecom sector seems to be riding the Sirius Satellite Radio (SIRI) wave. Earlier today, SIRI announced that it had met its year-end goal of one million subscribers. While it remains one of Wall Street's lowest rated stocks (according to analyst recommendations), CIEN has climbed more than 3.50 percent today on the sector's strength.
Another high-speed telecom firm doing well today is Comcast (NASDAQ:CMCSA) . In an article published over the weekend in Barron's, an analyst noted that the stock should be worth about $40 per share, more than 20 percent higher than CMCSA's close on Thursday. Also, the firm announced today that it will pay $36.5 million to tender 11 million stock options. CMCSA has gained nearly three percent in today's trading activity.
With crude oil prices plunging as much as six percent on the trading session today, it should come as no surprise that many of our underperformers are oil- and oil-services related stocks. Crude prices plunged today, as the February contract on crude was last seen down $2.93 at $41.25. Some of those oil stocks suffering today include: Rowan (NYSE:RDC) , EOG Resources (NYSE:EOG) , and BJ Services.
Click the following link to see a Chart of the SPX 500 Index's Top 20 Percentage Gainers: http://www.schaeffersresearch.com/wire?ID=12107 .
Click the following link to see a Chart of the SPX 500 Index's Top 20 Percentage Losers: http://www.schaeffersresearch.com/wire?ID=12107 .
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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.
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