Schaeffer's Midday Options Update Adobe Systems, Gateway, Nortel Networks, Pixar, Transocean.

Business Editors

CINCINNATI--(BUSINESS WIRE)--Jan. 30, 2004

Today's Schaeffer's Midday Options Update Features Adobe Systems (Nasdaq:ADBE), Gateway (NYSE:GTW), Nortel Networks (NYSE:NT), Pixar (Nasdaq:PIXR), Transocean (NYSE:RIG). The Midday Options Update contains a brief commentary on the day's most notable activity and a table listing the most active calls and puts for the day. The Midday Options Update is published 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/addinfo

Schaeffer's Midday Options Update

Mixed-to-disappointing economic data hit the Street today, and the Dow responded by plunging more than 50 points while the Nasdaq is ping-ponging around breakeven before midday. Investors are reacting to a report on U.S. economic growth, which slowed to a four-percent annual pace for the fourth quarter, down from a heady 8.2 percent in the third quarter. Economists, who had expected a cooling for the quarter, were looking for growth of about 4.9 percent. The Commerce Department also announced that gross domestic product increased 3.1 percent for all of 2003, the fastest rise since 2000. Contrasting these reports was the continuation of the nine-month expansion streak for manufacturing activity in the Chicago region. The Chicago Purchasing Managers Index came in at 65.9 percent versus 59.2 percent in December. The economists' average estimate looked for a reading of 61.4 percent.