MORNING UPDATE: Seven Summits Research issues alerts for AA, GCI, PDCO, EYE, and DBRN

CHICAGO, Oct. 11 /PRNewswire/ -- Seven Summits Research issues the following Morning Update at 8:30 AM EDT with new PriceWatch Alerts for key stocks.

Before the open... PriceWatch Alerts for AA, GCI, PDCO, EYE, and DBRN, Market Overview, News Leaders and Laggards, Today's Economic Calendar, and the Quote Of The Day.

QUOTE OF THE DAY

"We are anxious to see the Chinese fulfill the commitment they made to allow market forces to play a larger role in setting their currency's value over time. They've gotten on the path that allows them to do so and we'd like to see China continue on that path."

-- John Snow, Treasury Secretary, US New PriceWatch Alerts for AA, GCI, PDCO, EYE, and DBRN... PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS -- Alcoa Inc. Last Price 22.66 - JAN 22.50 CALL OPTION@ $1.45 -> 6.1 % Return assigned* -- Gannett Co. Inc. Last Price 66.19 - JAN 65.00 CALL OPTION@ $3.80 -> 4.2 % Return assigned* -- Patterson Companies Inc. Last Price 39.96 - APR 35.00 CALL OPTION@ $6.40 -> 4.3 % Return assigned* -- Advanced Medical Optics Inc. Last Price 35.45 - JAN 35.00 CALL OPTION@ $2.70 -> 6.9 % Return assigned* -- Dress Barn Inc. Last Price 24.35 - MAR 22.50 CALL OPTION@ $3.50 -> 7.9 % 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

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NOTE: All stocks and options shown are examples only. These are not recommendations to buy or sell any security.

MARKET OVERVIEW

In overseas trading, 13 of the 15 markets that we track are showing gains. In London, the FTSE is up 0.44, and the French and German markets are faring even better, with the CAC 40 up 0.60 and the Dax up 0.64. Trailing the way is Sydney, down 0.8 percent. But the star of the show was the Japanese market, up almost 2.5 percent, the largest gain in more than three years.

The November futures contract on sweet crude oil moved 0.78 percent higher on Monday. Meanwhile, November Unleaded Gas futures dropped 0.61 percent, continuing last week's downward. Pump prices are falling too, but the downward price revisions could not, in good conscience, be described as abrupt.

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DYNAMIC MARKET OPPORTUNITIES

Just how much longer will the US Federal Reserve continue to raise interest rates? According to Atlanta Fed president Jack Guynn, fifteen months after beginning its monetary tightening policy, the board "still has a ways to go." Where the US economy is concerned, Guynn sticks to his belief that it is "most likely on a path that will keep us at or near potential growth," despite the aftereffects of the recent hurricanes. It could be because the aftermath will trigger a bout of higher inflation that Guynn and the Fed are maintaining their course. Specifically, Guynn is concerned that higher inflation in the energy sector will spill over to consumers and adversely affect spending. The evidence? Year-over-year consumer prices rose 3.6% in August. However, the fourth quarter appears to have ushered in a more downbeat mood - at least among economists anyway. According to the Blue Chip Economic Indicators newsletter, a panel of economists surveyed just lowered their third quarter GDP growth estimate from the 3.6% annualized rate projected in early September to 3.4% today. The fourth quarter growth projection was also lowered from 3% to 2.9%. Such revisions aren't entirely surprising, considering that many believe the recent heavy hit from Hurricanes Katrina and Rita is bound to affect the US economy negatively in the short-term. Despite those downward moves, the full-year growth forecast remains unchanged at a reasonably healthy 3.5%. However, as the rebuilding efforts get underway with a vengeance, 2006 economic growth will receive a small upward shift - from 3.2% to 3.3%.

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NEWS LEADERS AND LAGGARDS

So far today, Gannett Co, New York Community Bancorp, and Johnson Controls lead the list of companies with the most news stories while Dress Barn and International Rectifier are showing a spike in news. Infosys Technologies, Apple Computer, and Genentech have the highest srtIndex scores to top the list of companies with positive news while MedcoHealth Solutions and Sigmatel lead the list of companies with negative news reports. Motorola has popped up with a high positive news sraIndex score.

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TODAY'S ECONOMIC CALENDAR 7:45 a.m. Oct 8 ICSC Store Sales Index 8:55 a.m. Oct 8 Redbook Retail Sales Index 2:00 p.m. Sept FOMC Minutes 5:00 p.m. Oct 9 ABC/Washington Post Consumer Confidence Index 5:30 p.m. Fed Gov Kohn speaks on globalization and inflation in Wooster, Ohio

Seven Summits Investment Research is an independent investment research group focusing on the U.S. equities and options markets. Our unique set of analytical tools, screening techniques, rigorous research methods and committed staff provide solid information to help our clients make the best investment decisions possible. For more information go to http://www.sevensummitsinvestmentresearch.com/ . CRD# 137114

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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 Catherine at 800-698-9101 or at http://www.cboe.com/Resources/Intro.asp. Privacy policy available upon request.