Schaeffer's Upon Further Review Highlights the Following Stocks: Check Point Software Technologies, Midway Games, Hilton Hotels, Boyd Games, and Trump Entertainment Resorts

Business Wire, July 5, 2006

CINCINNATI -- Today's "Upon Further Review" from Schaeffer's Investment Research focuses on Check Point Software Technologies (NASDAQ:CHKP), Midway Games (NYSE:MWY), Hilton Hotels (NYSE:HLT), Boyd Games (NYSE:BYD), and Trump Entertainment Resorts (NASDAQ:TRMP). "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.

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Upon Further Review:

Check Point Software Technologies: Check Point Software Technologies (NASDAQ:CHKP) was hit with a downgrade this morning from "buy" to "hold," with the brokerage firm saying that near-term business trends are weak and the company is lacking a longer-term strategy to re-energize growth. While the shares gapped lower on the open, I was impressed with the way the shares have charged sharply higher from its opening low. The equity is clawing its way back to support at the 17.50 level. This region halted the stock's decline on June 30 and is the site of peak put open interest among the front three months of options. This accumulation of bearish bets could serve as a layer of potential options-related support should CHKP successfully reclaim this strike.

Click the following link to see a Daily Chart of CHKP since May 2006: http://www.schaeffersresearch.com/wire?ID=16364 .

Midway Games: Midway Games (NYSE:MWY) might finally be grabbing the attention of technical and momentum traders. The stock has received a lift during the past few trading sessions from National Amusements, as it continues to increase its stake in the company. According to the Dow Jones Newswires, the group acquired 56,000 shares on June 29, another 68,900 shares on June 30, and 70,600 shares were purchased on July 3. The equity is up more than eight percent this morning, and has soared roughly 44 percent since its close on June 28. Furthermore, the shares have tackled potential resistance at both the nine and 10 levels. In addition, short sellers are feeling the pinch. With more than 2.4 million MWY shares sold short, this buildup of bearish bets represents potential buying pressure that could push the security higher. As the stock continues to roll higher, busting through roadblocks, it's likely to attract more buyers back to its side.

Click the following link to see a Daily Chart of MWY since January 2006: http://www.schaeffersresearch.com/wire?ID=16364

Casinos: It seems as if the unthinkable has happened this morning. The casinos in Atlantic City were closed as part of a shutdown of New Jersey's government triggered by an impasse in the state's efforts to pass a budget. According to various media reports, all 12 of the city's casinos were shuttered at 8:00 a.m. Eastern time as the Garden State's government shutdown entered its fifth day. The shutdown is a result of the state legislature's failure to approve a $31 billion budget submitted by the governor by the Saturday deadline. Naturally, this shutdown is having an effect on a number of casino operators, as a prolonged closure could have a painful effect on earnings.

Looking at the technicals on a few of the affected companies, I've run across some interesting developments. Both Boyd Gaming (NYSE:BYD) and Trump Entertainment Resorts (NASDAQ:TRMP) have pulled back this morning, but are perched on or near former support levels. BYD resides near the 38 level, which halted the stock's decline in October 2005 and served as support in December 2004 through January 2005. Meanwhile, TRMP is down more than five percent, but is balanced on support at the 19 level, which has held up the shares since mid-June and buoyed the equity throughout April. Should either of these two securities breach their respective support levels, they could be in for a substantial decline as the bulls finally unload their long positions.

Click the following link to see a Weekly Chart of BYD since July 2004: http://www.schaeffersresearch.com/wire?ID=16364

Meanwhile, Hilton Hotels (NYSE:HLT) has once again been rejected by resistance at the 28.50 level, but is resting on its ascending 10-week moving average. What's more, the security's long-term uptrend is still intact, indicating that the shares are in far better shape than their counterparts.

Click the following link to see a Monthly Chart of HLT since September 2001: http://www.schaeffersresearch.com/wire?ID=16364

The best way to take advantage of the timely Schaeffer commentaries is to sign up to receive 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