MORNING UPDATE: Man Securities Issues Alerts for MCK, DAL, CCE, COH, and HNZ CHICAGO, Sept. 9 /PRNewswire/ -- Man Securities issues the following Morning Update at 8:30 AM EDT with new NewsWatch Alerts for key stocks. (Logo: http://www.newscom.com/cgi-bin/prnh/20020214/MANSECLOGO ) Before the open... NewsWatch Alerts for MCK, DAL, CCE, COH, and HNZ, Market Overview, Today's Economic Calendar, and the Quote Of The Day. QUOTE OF THE DAY "The most recent data suggest that, on the whole, the expansion has regained some traction." -- Alan Greenspan, Chairman, Federal Reserve NewsWatch Alerts for MCK, DAL, CCE, COH, and HNZ ... NEWSWATCH ALERTS - News That Could Move These Stocks Today----------- McKesson Corp. (NYSE:MCK)* After announcing late on Tuesday that near-term profits will miss estimates because of lower-than-expected drug prices, the stock was punished by investors. Specifically, MCK announced that earnings guidance for the first half year to be in the range of $0.75-$0.80, while analysts were expecting $0.50 per share for the 2Q. MCK was quick to say that the FY05 guidance remained unchanged at $2.20 to $2.35 per share. By the end of trading Wednesday, the stock had fallen 15.2% closing down $4.85 at 26.98. * To learn more about how to use these alerts and for our FREE report, "The 18 Warning Signs That Tell You When To Dump A Stock ", go to: http://www.investorsobserver.com/mu18n (Note: You may need to copy the link above into your browser then press the [ENTER] key) Delta Air Lines Inc. (NYSE:DAL) Announced on Wednesday that 6,000-7,000 jobs will be reduced in the next 18 months as part of a move to achieve a target of $5 billion in savings by 2006. DAL noted that bankruptcy is a real possibility as a result of the rapid deterioration of its financial condition due to low yields, high fuel prices, uncompetitive labor costs, a high debt burden and possible operational disruption from anticipated pilot early retirements. Also the transformation plan calls for over 51% of the company's network to be restructured by January 31, 2005. Including a simplification of the fleet by retiring four types of aircraft in the next four years. The stock closed down 10.3% at $4.02 off $0.46 and fell further in after hours trading. Coca-Cola Enterprises Inc. (CCE) CCE revised its earnings guidance for the 3Q and for the year 2004. The company stated that it now expects 3Q earnings in $0.38 to $0.40 range. Analysts expected earnings of $0.49 per share for the quarter. For the full year, the company currently expects earnings per share, excluding nonrecurring item, in $1.26 to $1.30 range. Full year earnings per share are expected in $1.21 to $1.25 range. The stock closed down 5.4% on Wednesday at $19.48 off $1.11. Coach Inc. (NYSE:COH) Following Coach's Tuesday announcement raising guidance by a cent, Prudential Financial also increased its 2005 EPS estimate. The increase also considered that COH repurchased 2.43 million shares at an average cost of $39.06, or about $95 million, during the quarter. Also COH was invited to join Standard & Poor's 500 Index two weeks ago. The stock closed up 1.3% gaining $0.56 to $44.07. H.J. Heinz Co. (NYSE:HNZ) The company held their annual shareholders meeting yesterday and had many pleasant things to say about their performance. With sales growth of 5.7%, EPS growth 7.8%, and operating free cash flow of $148 million, the company feels that FY2005 will successfully bring to a close the three-year growth plan to refocused and strengthened HNZ. Adding some sauce to the party the company also announced a Preferred Stock Dividend Of $0.425 Per Share and a $0.285 dividend, with a record date 9/23/04. The stock closed down $0.51 at 37.69 at the close on Wednesday. ** For the FREE report, "The Secrets of Smart Election Year Investing - Insights, Stocks, And Strategies." go to: http://www.InvestorsObserver.com/FREEelection NOTE: All stocks and options shown are examples only. These are not recommendations to buy or sell any security. MARKET OVERVIEW Overseas markets are not fairing too well this morning as just three of the 15 markets that we track are currently positive. The cumulative average return on the group stands at a minus 0.644 percent. Adding to the concerns of a slowing global economy and declining household spending for the Japanese economic recovery, July machine tool orders declined by a worse than expected 11.3 percent. The figure was worse than analysts' opinion for a 2.3 percent decline and the prior month's 3.9 percent rise. The ripple helped create a 108-point decline in the Nikkei overnight. Heading a bit west, the Bank of England (BOE) decided to hold its key Repo Rate steady at 4.75 percent. That lack of move was widely anticipated, but some expect a sixth (already five increases since last November) 25 basis point hike in November. Two key reports are to be released before the start of the regular session of trade. Initial Jobless Claims for the week ending September 4 are expected to have declined by 17,000, somewhat offsetting the prior week's surprise 19,000 jump. As a potential indicator of consumer demand and inflationary pressure, August Import Prices are seen rising by 0.6 percent versus July's 0.2 percent rise. A terrorist bombing in Jakarta, Indonesia earlier this morning may have some repercussions throughout the session. Additionally the weekly petroleum products inventories will be released today. Any "larger than expected" decline in the stockpiles could prove bullish for the commodity, but negative for equities. Be prepared for the investing week ahead with Bernie Schaeffer's FREE Monday Morning Outlook. For more details and to sign up, go to: http://www.investorsobserver.com/freemo DYNAMIC MARKET OPPORTUNITIES Wednesday's phrase of the day: "Regaining traction." That's how Federal Reserve Chairman Alan Greenspan summed up the US economy, citing a rebound in job growth in August, coupled with upward consumer spending momentum in July. Somewhat surprisingly though, given the rapid run up in oil prices, Greenspan stated inflation was under control and, in fact, said future inflation expectations "have eased in recent months." However, the quarterly UCLA Anderson Report runs a completely different theory to Greenspan's. It argues that corporate and consumer spending is still weak and that the overheated housing market poses serious risks to the health of the US economy. In fact, it states these factors could lead to an extended "soft period," with no dynamic growth, ending with the "distinct possibility" (albeit a 10% chance) that the economy will spin back into recession as early as 2006. Although the Anderson Report is credited with correctly predicting the 2001 recession and the current "soft patch," this does seem to be a particularly bearish case. Some economists even say there's a greater chance of recession than that. However, with the tax cuts having worn off and interest rates now rising, the American consumer's ability to continue propelling the economy forward might be fading - particularly when many Americans are already submerged in debt. The Anderson Report projects 3.3% GDP growth in both 2005 and 2006 - not too shabby, but less than the 4.5% Greenspan boldly projected recently. But Greenspan's comments all but assure the Fed will surprise nobody and raise interest rates again on September 21. Receive incisive economic/market commentary, profitable advice and access to a network of leading investment exports. Simply follow this link: http://www.investorsobserver.com/agora2 TODAY'S ECONOMIC CALENDAR 8:30 a.m.: Initial Jobless Claims for the week ending September 4 (last plus 19,000). 8:30 a.m.: August Import Prices (last plus 0.2 percent). 10:00 a.m.: July Wholesale Trade (last plus 1.1 percent). 10:00 a.m.: DJ-BTM Business Barometer for the week ending August 28 (last unchanged). 12:00 p.m.: July Chicago Fed Midwest Manufacturing Index (last minus 0.7 percent). 4:00 p.m.: San Francisco Fed Pres Yellen speaks on the economic outlook, monetary policy in Seattle. Man Securities is one of the world's leading option order execution firms. Man's in-house broker team offers a level of personal service and experience unavailable from no-frills discount brokers. To improve your understanding of option pricing get Man's FREE "Margin/Option Wizard software at: http://www.investorsobserver.com/mancd. Member CBOE/NASD/SPIC. This Morning Update was prepared with data and information provided by: InvestorsObserver.com - Better Strategies for Making Money -> For Investors With a Sense of Humor. Only $1 for your first month plus seven free bonuses worth over $420, see: http://www.investorsobserver.com/must 247profits.com: You'll get exclusive financial commentary, access to a global network of experts and undiscovered stock alerts. Register NOW for the FREE 247profits e-Dispatch. Go to: http://www.investorsobserver.com/agora Schaeffer's Investment Research - Sign up for your FREE e-weekly, Monday Morning Outlook, Bernie Schaeffer's look ahead at the markets. Sign Up Now http://www.investorsobserver.com/freemo PowerOptionsPlus - The Best Way To Find, Compare, Analyze, and Make Money On Options Investments. For a 14-Day FREE trial and 5 FREE bonuses go to: http://www.PowerOptionsPlus.com All stocks and options shown are examples only. These are not recommendations to buy or sell any security and they do not represent in any way a positive or negative outlook for any security. Potential returns do not take into account your trade size, brokerage commissions or taxes which will affect actual investment returns. Stocks and options involve risk and are not suitable for all investors and investing in options carries substantial risk. Prior to buying or selling options, a person must receive a copy of Characteristics and Risks of Standardized Options available from Sharon at 800-837-6212 or at http://www.cboe.com/Resources/Intro.asp. Privacy policy available upon request. http://www.newscom.com/cgi-bin/prnh/20020214/MANSECLOGO http://photoarchive.ap.org/ DATASOURCE: Man Securities CONTACT: Michael Lavelle of Man Securities, +1-800-837-6212 Web site: http://www.mansecurities.com/mu.html

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