Schaeffer's Upon Further Review Highlights the Following Stocks: Chico's FAS, Coach, Ford Motor, Patterson Companies, and Williams-Sonoma

Business Wire, August 24, 2006

CINCINNATI -- Today's "Upon Further Review" from Schaeffer's Investment Research focuses on Chico's FAS (NYSE:CHS), Coach (NYSE:COH), Ford Motor (NYSE:F), Patterson Companies (NASDAQ:PDCO), and Williams-Sonoma (NYSE:WSM). "Upon Further Review" is a report that analyzes newsworthy stocks that are generating a lot of attention on Wall Street. "Upon Further Review" is published on www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research. E[acute accent]Take advantage of the timely Schaeffer commentaries by signing up for their free e-newsletters -- Opening View, Market Recap, and Monday Morning Outlook. Click here to have the Schaeffer's commentaries delivered to you free via email every day. http://www.schaeffersresearch.com/redirect.aspx?CODE=PRSC12M&PAGE=1 .

E[acute accent]Upon Further Review:

E[acute accent]Chico's FAS: Citing weaker-than-expected same-store sales for August and a disappointing same-store sales picture overall, women's apparel retailer Chico's FAS (NYSE:CHS) lowered its earnings guidance for the next four quarters. Adding insult to injury, a quartet of brokerage houses downgraded the stock this morning. CHS has shed one-quarter of its value today and is trading at a new annual low. The shares are nearing the potential support of their 80-month moving average, a trendline the stock has never breached. Short interest on CHS has been dropping dramatically for many months, declining 72 percent in the past two years and essentially reducing short-covering strength the stock once enjoyed. E[acute accent]Click the following link to see the monthly chart of Chico's FAS since September 2001 with 80-month moving average: http://www.schaeffersresearch.com/wire?ID=17205 .

E[acute accent]Coach: Coach (NYSE:COH) is not responding well to criticism today, dipping nearly five percent after Piper Jaffray reduced its rating on the shares to "market perform." A short-lived rally in the shares recently petered out at the stock's descending 160-day moving average, which is now effectively acting as a ceiling against short-term upside in the security. A longer-term view of the shares reveals they have been sandwiched between their 80-week and 160-week moving averages since mid-May. E[acute accent]Click the following link to see a daily chart of Coach since April 2006 with 160-day moving average: http://www.schaeffersresearch.com/wire?ID=17205 .

E[acute accent]Ford Motor: Ford Motor (NYSE:F) is making waves across the newswires today after today's "USA Today" reported that the American automaker is considering taking itself private, while "The New York Times" suggested that F could be looking for alliance partners. As I mentioned on Monday (http://www.schaeffersresearch.com/commentary/ observations.aspx?ID=17177)(Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists), the 7.50 level is significant from an options-related perspective; the September series is now home to more than 86,000 open positions. The level is also home to the stock's 160-day moving average. What's more, the 50-percent retracement zone between the equity's January peak and July nadir? Right at 7.51. The shares are currently consolidating around this level, which holds triple-barreled significance. E[acute accent]Click the following link to see a daily chart of Ford Motor since January 2006 with 160-day moving average: http://www.schaeffersresearch.com/wire?ID=17205 .

E[acute accent]Patterson Companies: Patterson Companies (NASDAQ:PDCO) is a major manufacturer of supplies used in the wild world of dentistry. The company's fiscal first-quarter earnings dropped to 30 cents per share, a penny below year-ago results, although revenue rose 10 percent. Excluding items, the firm would have banked per-share results of 31 cents, a penny shy of Wall Street's consensus view. This negative earnings surprise catalyzed a drop of nearly 10 percent in the stock today. PDCO has tagged a new annual low today, but thanks to years of market outperformance, the shares continue to linger above their 80-month moving average. Bearing down from overhead is the 35 level, which served as the lower rail of a short-term trading range during the latter half of 2004 but has acted as resistance since last December. Coincidentally or no, the 35.83 mark represents a 50-percent correction between the equity's April 2003 low and its May 2005 peak. E[acute accent]Click the following link to see the monthly chart of Patterson Companies since March 2003 with 80-month moving average: http://www.schaeffersresearch.com/wire?ID=17205 .

E[acute accent]Williams-Sonoma: A brokerage downgrade from Prudential in response to disappointing earnings news has sent Williams-Sonoma (NYSE:WSM) shares spiraling lower today. The specialty retailer lowered its 2006 revenue and earnings outlooks, citing weakness at its Pottery Barn chain. Like both CHS and PDCO, WSM has fallen to a new annual low but continues to tread water above its 80-month trendline. The last time the stock endured a monthly close beneath this moving average was in September 2001. E[acute accent]Click the following link to see the monthly chart of Williams-Sonoma since April 2001 with 80-month moving average: http://www.schaeffersresearch.com/wire?ID=17205 .