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U.S. stock market report 1726 ET 02Feb2010 Cisco call options heat up ahead of earnings
Some traders are sizing up Cisco Systems Inc's call options ahead of the company's quarterly results due on Wednesday after the close. Its shares rose 1.28 percent to $23.02. Cisco is expected to post its first quarterly revenue growth in more than a year when it reports results, as customers more confident about the economy upgrade their networks. For details, please see . Cisco is the world's top vendor of routers, switches and other network equipment used by global businesses. Cisco's overall volume was double the recent average daily turnover with about 143,000 calls and 43,000 puts traded, according to Trade Alert. One top trade -- 20,000 April $24 calls at a premium of 61 cents per contract on the International Securities Exchange -- might be a liquidating trade, said WhatsTrading.com option strategist Frederic Ruffy. He also noted a 15,000 Feb-March $23 call spread on the Nasdaq PHLX options venue looked like a roll of a bullish position or a time spread for a
27
cent debit.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1650 ET 02Feb2010-AFTER THE BELL
News Corp shares up
Shares of News Corp rose 2.9 percent after the bell on Tuesday as it reported results.
Shares were up at $13.13 after closing at $12.76 on Nasdaq.
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Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1642 ET 02Feb2010-US STOCKS
Wall St climbs for 2nd day on solid earnings, data
U.S. stocks rallied for a second day on Tuesday as better-than-expected earnings and encouraging data calmed investors after the market's recent sell-off.
Rising sales of previously owned U.S. homes and robust earnings from bellwethers representing consumer and industrial businesses, including Whirlpool Corp and Cummins Inc, pointed to a steady rebound in demand.
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Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1501 ET 02Feb2010-US STOCKS SNAPSHOT
Wall Street adds to gains
U.S. stocks added to gains and the Dow Jones industrials rose 1 percent in afternoon trading on Tuesday, helped by stronger-than-expected corporate results.
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Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1500 ET 02Feb2010-Fourth
quarter earnings estimates rising
Expectations for fourth-quarter earnings continue to edge higher as more companies report results. With 48 percent of S&P 500 companies having reported, earnings are expected to rise 204.2 percent compared with a year ago, according to Thomson Reuters data. That's up from an estimate of 185 percent on Jan.
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1357 ET 02Feb2010
SPDR S&P Retail ETF not effective as hedge: Jefferies
Jefferies Equity Derivatives noted retailer Abercrombie & Fitch Co, off-price retailer TJX Cos Inc, Costco Wholesale Corp and rival BJ's Wholesale Club as their top picks ahead of same store sales data due later this week, while picking Gap Inc as likely to miss forecast. Jefferies said in a research note that 'given the extremely low correlation in the SPDR S&P Retail exchange-traded fund and implied correlation,' it would be more effective to use single stocks to express a same store sales view rather than the fund as a hedge or a sector proxy. Retailers ranging from Target Corp to J.C. Penney Co Inc to American Eagle Outfitters Inc will report January sales on Wednesday and Thursday. Sales at stores open at least a year, or same-store sales, are forecast to rise 2.4 percent compared with a drop of 5.7 percent last year, according to Thomson Reuters data. The options market is pricing in the most downside for Dillard's Inc, department store operator Kohl's Corp , Target and Costco, the note said. Options traders are pricing in the least downside for Nordstrom Inc, Limited Brands Inc, Macy's Inc and Ross Stores.
Reuters Messaging: angela.moon.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. 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 1726 ET 02Feb2010 Cisco call options heat up ahead of earnings
Some traders are sizing up Cisco Systems Inc's call options ahead of the company's quarterly results due on Wednesday after the close. Its shares rose 1.28 percent to $23.02. Cisco is expected to post its first quarterly revenue growth in more than a year when it reports results, as customers more confident about the economy upgrade their networks. For details, please see . Cisco is the world's top vendor of routers, switches and other network equipment used by global businesses. Cisco's overall volume was double the recent average daily turnover with about 143,000 calls and 43,000 puts traded, according to Trade Alert. One top trade -- 20,000 April $24 calls at a premium of 61 cents per contract on the International Securities Exchange -- might be a liquidating trade, said WhatsTrading.com option strategist Frederic Ruffy. He also noted a 15,000 Feb-March $23 call spread on the Nasdaq PHLX options venue looked like a roll of a bullish position or a time spread for a
27
cent debit.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1650 ET 02Feb2010-AFTER THE BELL
News Corp shares up
Shares of News Corp rose 2.9 percent after the bell on Tuesday as it reported results.
Shares were up at $13.13 after closing at $12.76 on Nasdaq.
For more please double click
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1642 ET 02Feb2010-US STOCKS
Wall St climbs for 2nd day on solid earnings, data
U.S. stocks rallied for a second day on Tuesday as better-than-expected earnings and encouraging data calmed investors after the market's recent sell-off.
Rising sales of previously owned U.S. homes and robust earnings from bellwethers representing consumer and industrial businesses, including Whirlpool Corp and Cummins Inc, pointed to a steady rebound in demand.
For more please double click
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1501 ET 02Feb2010-US STOCKS SNAPSHOT
Wall Street adds to gains
U.S. stocks added to gains and the Dow Jones industrials rose 1 percent in afternoon trading on Tuesday, helped by stronger-than-expected corporate results.
For more please double click
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1500 ET 02Feb2010-Fourth
quarter earnings estimates rising
Expectations for fourth-quarter earnings continue to edge higher as more companies report results. With 48 percent of S&P 500 companies having reported, earnings are expected to rise 204.2 percent compared with a year ago, according to Thomson Reuters data. That's up from an estimate of 185 percent on Jan.
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1357 ET 02Feb2010
SPDR S&P Retail ETF not effective as hedge: Jefferies
Jefferies Equity Derivatives noted retailer Abercrombie & Fitch Co, off-price retailer TJX Cos Inc, Costco Wholesale Corp and rival BJ's Wholesale Club as their top picks ahead of same store sales data due later this week, while picking Gap Inc as likely to miss forecast. Jefferies said in a research note that 'given the extremely low correlation in the SPDR S&P Retail exchange-traded fund and implied correlation,' it would be more effective to use single stocks to express a same store sales view rather than the fund as a hedge or a sector proxy. Retailers ranging from Target Corp to J.C. Penney Co Inc to American Eagle Outfitters Inc will report January sales on Wednesday and Thursday. Sales at stores open at least a year, or same-store sales, are forecast to rise 2.4 percent compared with a drop of 5.7 percent last year, according to Thomson Reuters data. The options market is pricing in the most downside for Dillard's Inc, department store operator Kohl's Corp , Target and Costco, the note said. Options traders are pricing in the least downside for Nordstrom Inc, Limited Brands Inc, Macy's Inc and Ross Stores.
Reuters Messaging: angela.moon.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. 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.
