PVN Providian Financial

MORNING UPDATE: Man Securities Issues Alerts for NXTL, OVTI, PVN, INCY, And OPSW CHICAGO, Feb. 19 /PRNewswire/ -- Man Securities issues the following Morning Update at 8:30 AM EST with new PriceWatch Alerts for key stocks. (Logo: http://www.newscom.com/cgi-bin/prnh/20020214/MANSECLOGO ) Before the open... PriceWatch Alerts for NXTL, OVTI, PVN, INCY, and OPSW, Market Overview, Today's Economic Calendar, and the Quote Of The Day. QUOTE OF THE DAY "The power to change Washington rests not in my hands, but in yours. Always remember, you have the power to take our country back." -- Howard Dean, Governor New PriceWatch Alerts for NXTL, OVTI, PVN, INCY, and OPSW... PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS -- Nextel Communications, Inc. (NASDAQ:NXTL) Last Price 28.62 - MAY 25.00 CALL OPTION@ $4.60 -> 4.1 % Return assigned* -- OmniVision Technologies Inc. (NASDAQ:OVTI) Last Price 25.63 - MAR 25.00 CALL OPTION@ $2.50 -> 8.1 % Return assigned* -- Providian Financial Corp. (NYSE:PVN) Last Price 12.70 - MAR 12.50 CALL OPTION@ $0.75 -> 4.6 % Return assigned* -- Incyte Corporation (NASDAQ:INCY) Last Price 8.34 - MAR 7.50 CALL OPTION@ $1.20 -> 5 % Return assigned* -- Opsware Inc. (NASDAQ:OPSW) Last Price 9.20 - APR 7.50 CALL OPTION@ $2.10 -> 5.6 % Return assigned* * 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/mu18 (Note: You may need to copy the link above into your browser then press the [ENTER] key) ** 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 performing quite well this morning as 14 of the 15 markets that we track are currently positive. The cumulative average return on the group stands at a plus 0.594 percent. The France CAC 40 Index has moved to a fresh 52-week high and a level not seen since early July of 2002. Real Gross Domestic Product in the fourth quarter in Germany rose by 0.2 percent over the third quarter, which rose by 0.2 percent over its prior quarter. Exports, which had been the main driver in the third quarter (rising by 3.8 percent), rose by just 0.3 percent in Q4. Imports (which detract from GDP) rose by 2.7percent in the quarter. This should magnify the potential threat to continued growth of the rising euro. A reasonable amount of economic data today and a well-rounded grouping of earnings releases should give investors a little something to ponder. Before the market open at 8:30 a.m., Initial Jobless Claims for the week ending February 14 are seen declining by 9,000, overcoming the prior week's surprise 6,000 rise to a seasonally adjusted two month high of 363,000. Sharing the same time slot, a feel for inflation at the manufacturing level via the tandem January Producer Price reports. The January Producer Price Index is expected to have risen by 0.4 percent, creeping higher from the 0.3 percent rise in December. The Core Index, less food andenergy, is seen at a more temperate plus 0.1 percent, matching on a percentage basis the prior month's rise. At 10:00 a.m., the Conference Board's January Leading Economic Indicators is seen rising by 0.4 percent, coming on the heels of December's 0.2percent rise to 114.3. The December reading was said to be 2.5 percent above the prior high in the index set in May 2002. In the December report, seven out of 10 indicators rose. The biggest positive contributors to the index were vendor performance, stock prices, building permits and falling claims for unemployment insurance. The biggest negative contributor was a drop in money supply. This index was designed to predict future economic growth and was equal to 100 in 1996. At noon, the FebruaryPhiladelphia Fed Index on business conditions is seen cooling slightly to 36.0 from January's 38.8 reading. On Tuesday it was reported that the New York Federal Reserve manufacturing survey surged to a record high of 42.05 in February. In these reports, any reading greater than zero denotes expansion in that index or component. Finally, a live voice out of the Federal Reserve inner circle at 1:30 p.m. as Chicago Fed President Moskow speaks on the economic outlook in Chicago. 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 It's been tough for Abercrombie & Fitch recently. Besides the uproar over its controversial catalog which forced the company to terminate production in December, it has also endured a desperate sequence of falling sales. But the best time to buy a stock is when it has few friends. Given the company's solid profit/operating margins and management team that doesn't resort to mass discounting when times get tough, Martin Denholm, financial editor at the Taipan Group, bought at $28.83 in late November. Even as the stock slumped 20%, he remained confident. And after gradually clawing back its losses, traders were rewarded Wednesday. Abercrombie posted profits of $94.3 million (96 cents per share), bettering estimates by a penny. Net sales increased 4.8% to $560.4 million. And despite a drop in same store sales, the overall strong earnings and the announcement of 50 cents-per-share annual dividend quickly pacified the news. Shareholders will see the first 12.5 cents payment by March 30. Investors jumped on the news. And after a Wachovia upgrade, they lifted Abercrombie up 9.2% to $30.79. Denholm's traders are now sitting on a 6.8% gain. Martin Denholm writes for the Taipan Group's FREE daily e-Dispatch. To sign up and receive information on where to invest your money, read incisive daily political, economic, and market commentary, and gain access to a network of financial experts, follow this link: http://www.investorsobserver.com/agora2 TODAY'S ECONOMIC CALENDAR 8:30 a.m.: Initial Jobless Claims for the week ending February 14 (last plus 6,000). 8:30 a.m.: January Producer Price Index (last plus 0.3 percent). 8:30 a.m.: January Producer Price Core Index, less food and energy (last minus 0.1 percent). 10:00 a.m.: DJ-BTM Business Barometer for the week ending February 14 (last minus 0.2 percent). 10:00 a.m.: January Leading Economic Indicators (last plus 0.2 percent). 12:00 p.m.: February Philadelphia Fed Index. 1:30 p.m.: Chicago Fed Pres Moskow speaks on the economic outlook in Chicago. 4:30 p.m.: Money Supply. Man Financial Inc is one of the world's major futures and options brokers and has been recognized as a leading option order execution firm for individuals and institutions. Member CBOE/NASD/SIPC (CRD#6731). For more information and a free CD with educational tools to help you invest smarter, see http://www.investorsobserver.com/mancd 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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