Among the stocks featured in the October 13 edition of Schaeffer’s Market Blog are Progressive (NYSE:PGR), Polaris Industries (NYSE:PII), Cardinal Health (NYSE:CAH), Lam Research (NASDAQ:LRCX), and Xerox (NYSE:XRX). Schaeffer’s Market Blog 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. The Market Blog is written throughout every trading day by Schaeffer’s financial analysts and traders. They are quick insights to the day’s most notable market activity from an options perspective.
Progressive (NYSE:PGR) was upgraded this morning by AG Edwards from “hold” to “buy.” This upgrade comes on the heels of PGR’s earnings that came in at $1.54 per share versus Wall Street estimate of $1.59 per share. The company’s third-quarter net fell 21 percent due to Hurricanes Katrina and Rita.

The stock is bounding off its 20-day moving average upon this upgrade to new all-time highs.

10:29 AM Polaris Industries Cuts Outlook for 2005

According to Yahoo! Finance, Polaris Industries (NYSE:PII) engages in the design, engineering, manufacturing, and marketing of motorized products for recreation and utility use, including all terrain vehicles (ATV), snowmobiles, and motorcycles together with related replacement parts, garments, and accessories. This morning before the market open, PII reported third-quarter results that were in line with analyst estimates but guided its outlook for 2005 lower as a result of disappointing ATV shipments.

Technically speaking, the shares have been trending lower since April. PII is now trading below all major moving averages, a negative sign from a technical perspective. This morning’s negative news has sent shares of PII another 3.5 percent lower to $44.40.