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U.S. stock market report 1124 ET 16Oct2009 Human Genome attract call interest
Shares of Human Genome Sciences rose 13 cents to $19.55 near midday and a number of option players appear to be positioning for extended gains in the stock within the next few weeks. The stock's average option implied volatility, a key driver of an options price, rallied to 156 percent, from about 123 percent late yesterday, 'as some players seem to be bracing for a short-term bounce higher in this biotech,' said Frederic Ruffy, option strategist at WhatsTrading.com.
Human Genome's option volume is double the norm with about 35,000 calls traded compared to 13,000 puts, according to Trade Alert. The Nov $22 call strike was the most popular, with volume of 9,571 contracts that exceeded its open interest. The Nov $20, $23 and the $30 strike that expires in January 2010 were also active. Earnings are expected late this month.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1113 ET 16Oct2009
MGIC Investment down after results, comments
Shares of MGIC Investment Corp plunged on Friday, after the company reported a third-quarter loss that was wider than expected. The company also said it may not be able to repay amounts owed under its notes due in 2011.
For details, see
The stock fell 18 percent to $5.99.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1058 ET 16Oct2009
Markets fall after results from GE, BofA
U.S. stocks were down on Friday, pressured by disappointing quarterly results from Dow components General Electric Co and Bank of America .
BofA reported a quarterly loss, while GE posted revenue that came in below expectations.
For details, see
The Dow Jones industrial average fell 1.1 percent to 9,947.77 while the S&P 500 lost 1.3 percent to 1,082.45 and the Nasdaq was off 1.3 percent to 2,144.71.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1024 ET 16Oct2009
Scientific Games falls after JPMorgan downgrade
Shares of Scientific Games Corp fell on Friday after JPMorgan downgraded the stock to 'neutral' from 'overweight.'
The firm wrote that various positives for the company, including a strong balance sheet and potential growth opportunities, were already priced into the shares.
For details, see
The stock shed 7.3 percent to $17.76.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1012 ET 16Oct2009-Oct consumer sentiment unexpectedly falls
survey
U.S. consumer sentiment fell unexpectedly in October on concerns that the 'dismal' state of personal finances wouldn't recover quickly from the recession, a report showed on Friday.
The Reuters/University of Michigan Surveys of Consumers said its preliminary index of sentiment for October fell to 69.4 from September's 73.5. That was below economists' median expectation of a steady reading of 73.5, according to a Reuters poll.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0955 ET 16Oct2009-Bulls may rule October expiration
analyst
Friday marks the monthly expiration of October options, an event that may have a positive bias. Expiration-related activity only affects the broad market if there is a preponderance of expiring in-the-money index open interest one way or the other.
'This month, nearly all index calls are in-the-money, and very few index puts are in-the-money,' wrote Larry McMillan, president of McMillan Analysis Corp in an Oct. 15 note to clients. Thus, calls dominate, and that has bullish implications.
If the open interest levels hold up -- if the contracts outstanding are not rolled forward nor exercised -- there should be bullish bias to expiration, he said.
McMillan said monitoring options on the Nasdaq 100 is useful because they are American Style exercise and thus can be exercised early. If the OEX is above 505 as Friday's trading comes to a close, buy programs should be large enough to influence the market, he added.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
0949 ET 16Oct2009
GE CEO says evaluating options for NBC unit
Jeff Immelt, the chief executive of General Electric Co, is considering several scenarios for the future of NBC Universal if its minority partner Vivendi SA chooses to sell its 20 percent stake.
The Dow component is considering the possibility of spinning off the media arm through an initial public offering or taking on another partner, Immelt said on a conference call.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0927 ET 16Oct2009
Industrial output up 0.7 pct in September
U.S. industrial output rose 0.7 percent in September, rising for the third straight month, according to Federal Reserve data released on Friday.
Analysts polled by Reuters had expected an increase of 0.2 percent.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Real-time Equity news
U.S. stock market report 1124 ET 16Oct2009 Human Genome attract call interest
Shares of Human Genome Sciences rose 13 cents to $19.55 near midday and a number of option players appear to be positioning for extended gains in the stock within the next few weeks. The stock's average option implied volatility, a key driver of an options price, rallied to 156 percent, from about 123 percent late yesterday, 'as some players seem to be bracing for a short-term bounce higher in this biotech,' said Frederic Ruffy, option strategist at WhatsTrading.com.
Human Genome's option volume is double the norm with about 35,000 calls traded compared to 13,000 puts, according to Trade Alert. The Nov $22 call strike was the most popular, with volume of 9,571 contracts that exceeded its open interest. The Nov $20, $23 and the $30 strike that expires in January 2010 were also active. Earnings are expected late this month.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1113 ET 16Oct2009
MGIC Investment down after results, comments
Shares of MGIC Investment Corp plunged on Friday, after the company reported a third-quarter loss that was wider than expected. The company also said it may not be able to repay amounts owed under its notes due in 2011.
For details, see
The stock fell 18 percent to $5.99.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1058 ET 16Oct2009
Markets fall after results from GE, BofA
U.S. stocks were down on Friday, pressured by disappointing quarterly results from Dow components General Electric Co and Bank of America .
BofA reported a quarterly loss, while GE posted revenue that came in below expectations.
For details, see
The Dow Jones industrial average fell 1.1 percent to 9,947.77 while the S&P 500 lost 1.3 percent to 1,082.45 and the Nasdaq was off 1.3 percent to 2,144.71.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1024 ET 16Oct2009
Scientific Games falls after JPMorgan downgrade
Shares of Scientific Games Corp fell on Friday after JPMorgan downgraded the stock to 'neutral' from 'overweight.'
The firm wrote that various positives for the company, including a strong balance sheet and potential growth opportunities, were already priced into the shares.
For details, see
The stock shed 7.3 percent to $17.76.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1012 ET 16Oct2009-Oct consumer sentiment unexpectedly falls
survey
U.S. consumer sentiment fell unexpectedly in October on concerns that the 'dismal' state of personal finances wouldn't recover quickly from the recession, a report showed on Friday.
The Reuters/University of Michigan Surveys of Consumers said its preliminary index of sentiment for October fell to 69.4 from September's 73.5. That was below economists' median expectation of a steady reading of 73.5, according to a Reuters poll.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0955 ET 16Oct2009-Bulls may rule October expiration
analyst
Friday marks the monthly expiration of October options, an event that may have a positive bias. Expiration-related activity only affects the broad market if there is a preponderance of expiring in-the-money index open interest one way or the other.
'This month, nearly all index calls are in-the-money, and very few index puts are in-the-money,' wrote Larry McMillan, president of McMillan Analysis Corp in an Oct. 15 note to clients. Thus, calls dominate, and that has bullish implications.
If the open interest levels hold up -- if the contracts outstanding are not rolled forward nor exercised -- there should be bullish bias to expiration, he said.
McMillan said monitoring options on the Nasdaq 100 is useful because they are American Style exercise and thus can be exercised early. If the OEX is above 505 as Friday's trading comes to a close, buy programs should be large enough to influence the market, he added.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
0949 ET 16Oct2009
GE CEO says evaluating options for NBC unit
Jeff Immelt, the chief executive of General Electric Co, is considering several scenarios for the future of NBC Universal if its minority partner Vivendi SA chooses to sell its 20 percent stake.
The Dow component is considering the possibility of spinning off the media arm through an initial public offering or taking on another partner, Immelt said on a conference call.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0927 ET 16Oct2009
Industrial output up 0.7 pct in September
U.S. industrial output rose 0.7 percent in September, rising for the third straight month, according to Federal Reserve data released on Friday.
Analysts polled by Reuters had expected an increase of 0.2 percent.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.