Schaeffer's S&P 500 Index Hot Stocks Features PeopleSoft, Novell, Mercury Interactive,...

CINCINNATI -- Among the stocks featured in the September 10 edition of Schaeffer's S&P 500 Index Hot Stocks are PeopleSoft (Nasdaq:PSFT), Novell (Nasdaq:NOVL), Mercury Interactive (Nasdaq:MERQ), Visteon (NYSE:VC), and Alcoa (NYSE:AA).

Schaeffer's S&P 500 Index Hot Stocks is just

one of the many free market commentaries written 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/redirect.aspx?CODE=PRSHS1M&PAGE=1 .

Schaeffer's S&P 500 Index Hot Stocks for Friday, September 10, 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 - 1105.76) as well as the bottom-20 names. Featured along with this table will be news that is moving some of the shares.

NOTE: Stocks trading under $5 per share have been eliminated from this listing of the top-20 and bottom-20 performing stocks.

PeopleSoft (Nasdaq:PSFT) has seen a sizeable bump today, slightly more than 10 percent, thanks to a ruling made by a federal judge. The judge pushed aside Department of Justice antitrust objections, clearing the way for Oracle (ORCL) to continue its hostile takeover bid. PSFT received an analyst upgrade to "neutral" from "sell," while two additional analysts cut their ratings on the stock. This news was not just beneficial for PSFT and ORCL, but Mercury Interactive (Nasdaq:MERQ) rose nearly seven percent, as the ripples of the ruling worked their way into the software sector.

Yesterday, Novell (Nasdaq:NOVL) signed a contract to provide Hungary's National Office of Judicial Services with a network and an administration system. NOVL will install the system in 158 offices, its largest in Hungary, connecting 7, 350 work stations. This news sent the company's stock up nearly nine percent.

Looking at stocks that have slipped today, Visteon (NYSE:VC) withdrew its third-quarter and full-year financial forecasts. This loss can be attributed to the lower-than-anticipated North American production estimates released by Ford Motor (F), to whom VC supplies auto parts.

Alcoa (NYSE:AA) has fallen more than six percent today after announcing that it sees third-quarter earnings of 30 to 35 cents per share. This is well below the Street's estimate of 52 cents per share. To add to AA's misery, the company received an analyst downgrade to "equal weight" from "overweight" in response to the poor earnings report.

Click the following link to see a Chart of the SPX 500 Index's Top 20 Percentage Gainers: http://www.schaeffersresearch.com/wire?ID=11085

Click the following link to see a Chart of the SPX 500 Index's Top 20 Percentage Losers: http://www.schaeffersresearch.com/wire?ID=11085

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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.