Stocks on the move
Real-time Equity news
U.S. stock market report
1735 ET 19Aug2009
US economic diary for Aug. 20
The day's economic agenda includes Jobless Claims at 8:30 a.m. EDT (1230 GMT), Leading Indicators at 10:00 a.m. EDT (1400 GMT) and Philadelphia Fed Survey also at 10:00 a.m.
For more, please double click
Reuters Messaging: angela.moon.reuters.com@reuters.net
1723 ET 19Aug2009-AFTER THE BELL
NetApp falls after quarterly results
Shares of NetApp Inc fell 3.7 percent to $22.05 on Wednesday in extended trade after it released first-quarter results.
The data storage equipment maker's quarterly profit topped Wall Street estimates and said President Tom Georgens would take over as chief executive immediately. For details, see
Reuters Messaging: angela.moon.reuters.com@reuters.net
1713 ET 19Aug2009
Wall St climbs; oil data rekindles recovery hopes
U.S. stocks advanced on Wednesday, shaking off a slide in China's equity market, as investors responded favorably to a surprising drop in crude oil stockpiles that might suggest an improving demand outlook.
The Dow Jones industrial average ended up 61.22 points, or 0.66 percent, at 9,279.16. The Standard & Poor's 500 Index gained 6.79 points, or 0.69 percent, at 996.46. The Nasdaq Composite Index was up 13.32 points, or 0.68 percent, at 1,969.24. For more, click
Reuters Messaging: angela.moon.reuters.com@reuters.net
1653 ET 19Aug2009
Potash attracts a number of option plays
U.S. listed shares of fertilizer producer Potash Corp of Saskatchewan rose 1.56 percent to $95.18 one day after the company said North American potash pricing fell in July, but also noted manufacturers' inventories in North America fell for the first time this year.
The stock's options volume of about 48,000 puts and 52,000 calls was double the norm, according to Trade Alert.
Recent trades included a three-way combination where an investor collected a 75-cent premium after buying December $100-$130 call spreads while selling December $90 puts, 1,600 times. Another player paid a premium of $2.55 for the Sept $80 put-$105 call strangle, 10,000 times, said WhatsTrading.com option strategist Frederic Ruffy.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1619 ET 19Aug2009
Player books profits in Las Vegas Sands
One investor appeared to 'made it big' on casino operator Las Vegas Sands by closing out a long call position in the January 2011 contract, said Andrew Wilkinson, market analyst at Interactive Brokers Group. Its shares fell 1.16 percent to $12.75. It appears the trader bought 20,000 calls at the January $15 strike for $1.70 apiece back on July 9, when shares closed at $7.42. At that time, option implied volatility read 97 percent, making this a very risky play at the outset, he said. The investor closed out the position for $4.35 per contract. If this is indeed what took place, Wilkinson said the player would bank gains of $2.65 per contract for a total of $5.3 million, assuming this was an option play with no stock involved. The gains might have been even bigger had implied volatility not slipped during the six weeks the trade was held to 87 percent. The time lapse decayed the premium on the option.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1517 ET 19Aug2009-S&P support could be tested soon
analyst
The S&P 500 index has so far held support at around the 975-980 level ahead of Friday's August option expiration, frustrating those calling for an immediate correction. Larry McMillan, president of McMillan Analysis Corp, believes that a pullback of around 10 percent in magnitude will take place -- 'but in nonvolatile fashion.' Rather than collapse, he expects the benchmark to work its way lower to around the 900-910 level, provided the correlation to the 1937/38 time period holds up. 'This period saw a strong advance off of the lows followed by a choppy correction of around 10 percent over a month and a half,' he said in a note to clients. Thus, he expects a similar situation set up: but should the correlation levels decline in terms of the SPX staging a sharp rally or drop from current levels, that view would be revised. 'At present we remain committed to the 1937/38 price chart,' McMillan said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1454 ET 19Aug2009
Oil settles higher on supply fall, energy shares rise
U.S. crude futures rose more than $3 on Wednesday, settling up 4.7 percent at $72.42 per barrel after a government oil inventory report showed an unexpected crude oil supply drop last week, as imports fell.
The rise in crude lifted shares in the energy sector, with the S&P energy index up almost 2 percent.
Reuters Messaging: rodrigo.campos.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
1735 ET 19Aug2009
US economic diary for Aug. 20
The day's economic agenda includes Jobless Claims at 8:30 a.m. EDT (1230 GMT), Leading Indicators at 10:00 a.m. EDT (1400 GMT) and Philadelphia Fed Survey also at 10:00 a.m.
For more, please double click
Reuters Messaging: angela.moon.reuters.com@reuters.net
1723 ET 19Aug2009-AFTER THE BELL
NetApp falls after quarterly results
Shares of NetApp Inc fell 3.7 percent to $22.05 on Wednesday in extended trade after it released first-quarter results.
The data storage equipment maker's quarterly profit topped Wall Street estimates and said President Tom Georgens would take over as chief executive immediately. For details, see
Reuters Messaging: angela.moon.reuters.com@reuters.net
1713 ET 19Aug2009
Wall St climbs; oil data rekindles recovery hopes
U.S. stocks advanced on Wednesday, shaking off a slide in China's equity market, as investors responded favorably to a surprising drop in crude oil stockpiles that might suggest an improving demand outlook.
The Dow Jones industrial average ended up 61.22 points, or 0.66 percent, at 9,279.16. The Standard & Poor's 500 Index gained 6.79 points, or 0.69 percent, at 996.46. The Nasdaq Composite Index was up 13.32 points, or 0.68 percent, at 1,969.24. For more, click
Reuters Messaging: angela.moon.reuters.com@reuters.net
1653 ET 19Aug2009
Potash attracts a number of option plays
U.S. listed shares of fertilizer producer Potash Corp of Saskatchewan rose 1.56 percent to $95.18 one day after the company said North American potash pricing fell in July, but also noted manufacturers' inventories in North America fell for the first time this year.
The stock's options volume of about 48,000 puts and 52,000 calls was double the norm, according to Trade Alert.
Recent trades included a three-way combination where an investor collected a 75-cent premium after buying December $100-$130 call spreads while selling December $90 puts, 1,600 times. Another player paid a premium of $2.55 for the Sept $80 put-$105 call strangle, 10,000 times, said WhatsTrading.com option strategist Frederic Ruffy.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1619 ET 19Aug2009
Player books profits in Las Vegas Sands
One investor appeared to 'made it big' on casino operator Las Vegas Sands by closing out a long call position in the January 2011 contract, said Andrew Wilkinson, market analyst at Interactive Brokers Group. Its shares fell 1.16 percent to $12.75. It appears the trader bought 20,000 calls at the January $15 strike for $1.70 apiece back on July 9, when shares closed at $7.42. At that time, option implied volatility read 97 percent, making this a very risky play at the outset, he said. The investor closed out the position for $4.35 per contract. If this is indeed what took place, Wilkinson said the player would bank gains of $2.65 per contract for a total of $5.3 million, assuming this was an option play with no stock involved. The gains might have been even bigger had implied volatility not slipped during the six weeks the trade was held to 87 percent. The time lapse decayed the premium on the option.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1517 ET 19Aug2009-S&P support could be tested soon
analyst
The S&P 500 index has so far held support at around the 975-980 level ahead of Friday's August option expiration, frustrating those calling for an immediate correction. Larry McMillan, president of McMillan Analysis Corp, believes that a pullback of around 10 percent in magnitude will take place -- 'but in nonvolatile fashion.' Rather than collapse, he expects the benchmark to work its way lower to around the 900-910 level, provided the correlation to the 1937/38 time period holds up. 'This period saw a strong advance off of the lows followed by a choppy correction of around 10 percent over a month and a half,' he said in a note to clients. Thus, he expects a similar situation set up: but should the correlation levels decline in terms of the SPX staging a sharp rally or drop from current levels, that view would be revised. 'At present we remain committed to the 1937/38 price chart,' McMillan said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1454 ET 19Aug2009
Oil settles higher on supply fall, energy shares rise
U.S. crude futures rose more than $3 on Wednesday, settling up 4.7 percent at $72.42 per barrel after a government oil inventory report showed an unexpected crude oil supply drop last week, as imports fell.
The rise in crude lifted shares in the energy sector, with the S&P energy index up almost 2 percent.
Reuters Messaging: rodrigo.campos.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.