Stocks on the move
Real-time Equity news
U.S. stock market report
1721 ET 31Aug2009-US STOCKS-Wall St slips on China sell
off
U.S. stocks fell on Monday as concerns about the global economy's health weighed on Wall Street following a sell-off in Chinese equities.
For more, see
Reuters Messaging: angela.moon.reuters.com@reuters.net
1710 ET 31Aug2009
Option player places bullish bet on Devon
Shares of energy company Devon Energy fell 1.9 percent to $61.38. U.S. crude oil futures ended below $70 a barrel on Monday afternoon. But in the options market, volume increased after contrarian options activity in the January 2011 contract. The drop in Devon shares did not deter one option trader from initiating a bull call spread on the stock, said Interactive Brokers Group market analyst Andrew Wilkinson.
Hoping for significant appreciation in the shares, the investor bought 5,000 calls at the Jan $70 strike for an average premium of $7.95 apiece, and simultaneously shed 5,000 calls at the higher Jan $100 strike for $1.77 each, he said. The net cost of the spread was $6.18 per contract. Devon shares must rally 24 percent to surpass the breakeven point of $76.18 for the call spreader to begin to accumulate profits.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1700 ET 31Aug2009
Economic diary for Sept. 1
Economic data on tap on Tuesday includes the Institute for Supply Management's manufacturing index for August, pending home sales for July and construction spending for July.
Wall Street will watch in the afternoon for release of the minutes from the rate-setting Federal Open Market Committee's most recent meeting.
For details, see
Reuters Messaging: leah.schnurr.reuters.com@reuters.net
1645 ET 31Aug2009
ADRs follow China lower; Petrobras weighs
The Bank of New York Mellon index of leading American Depositary Receipts (ADRs) fell 1.2 percent, weighed down by the plunge in Shanghai's stock market. The Bank of New York Mellon Chinese ADR index fell 2.8 percent.
Brazilian energy heavyweight Petrobras also pulled ADR indexes lower with a 4.4 percent decline to $39.64. For the ADR report see
Reuters Messaging: rodrigo.campos.reuters.com@reuters.net
1628 ET 31Aug2009
Bears load up on Washington Federal puts
Shares of Washington Federal Inc fell 2.9 percent to $14.84. In the options market, traders appear to be taking a bearish stance in the stock. Directional sentiment based on order flow was 58 percent bearish with 4,509 put options traded vs. only 46 calls. The combined option volume was 130 times the usual daily turnover in the saving and loan holding company, Trade Alert data show.
The activity was heavily focused in the January 2010 puts at the $15 strike where 3,439 contracts traded, exceeding existing positions held by investors of
472. It looked like buyers dominated the action, as two-thirds hit ask
side, said WhatsTrading.com option strategist Frederic Ruffy.
Option traders also priced in expectations for more stock moves as Washington Federal's average implied volatility rose to 43 percent from about 35 percent late on Friday.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1611 ET 31Aug2009-US STOCKS SNAPSHOT
Wall St ends lower on day; up for month
U.S. stocks ended lower on Monday as a sharp drop in Chinese equities added to concerns about the global economy's recovery.
For more please double click
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1427 ET 31Aug2009
Ford U.S. sales rise in August: company analyst
Ford Motor Co will report a U.S. auto sales increase in August and the industry may post its first monthly year-over-year sales rise since October 2007, the automaker's chief sales analyst said on Monday.
For the industry, the seasonally adjusted annual rate of sales in the United States is likely to come in above last August's 13.6 million rate, but below the top of recent forecasts after buying dropped off near the end of the month, Ford's George Pipas said.
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
1721 ET 31Aug2009-US STOCKS-Wall St slips on China sell
off
U.S. stocks fell on Monday as concerns about the global economy's health weighed on Wall Street following a sell-off in Chinese equities.
For more, see
Reuters Messaging: angela.moon.reuters.com@reuters.net
1710 ET 31Aug2009
Option player places bullish bet on Devon
Shares of energy company Devon Energy fell 1.9 percent to $61.38. U.S. crude oil futures ended below $70 a barrel on Monday afternoon. But in the options market, volume increased after contrarian options activity in the January 2011 contract. The drop in Devon shares did not deter one option trader from initiating a bull call spread on the stock, said Interactive Brokers Group market analyst Andrew Wilkinson.
Hoping for significant appreciation in the shares, the investor bought 5,000 calls at the Jan $70 strike for an average premium of $7.95 apiece, and simultaneously shed 5,000 calls at the higher Jan $100 strike for $1.77 each, he said. The net cost of the spread was $6.18 per contract. Devon shares must rally 24 percent to surpass the breakeven point of $76.18 for the call spreader to begin to accumulate profits.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1700 ET 31Aug2009
Economic diary for Sept. 1
Economic data on tap on Tuesday includes the Institute for Supply Management's manufacturing index for August, pending home sales for July and construction spending for July.
Wall Street will watch in the afternoon for release of the minutes from the rate-setting Federal Open Market Committee's most recent meeting.
For details, see
Reuters Messaging: leah.schnurr.reuters.com@reuters.net
1645 ET 31Aug2009
ADRs follow China lower; Petrobras weighs
The Bank of New York Mellon index of leading American Depositary Receipts (ADRs) fell 1.2 percent, weighed down by the plunge in Shanghai's stock market. The Bank of New York Mellon Chinese ADR index fell 2.8 percent.
Brazilian energy heavyweight Petrobras also pulled ADR indexes lower with a 4.4 percent decline to $39.64. For the ADR report see
Reuters Messaging: rodrigo.campos.reuters.com@reuters.net
1628 ET 31Aug2009
Bears load up on Washington Federal puts
Shares of Washington Federal Inc fell 2.9 percent to $14.84. In the options market, traders appear to be taking a bearish stance in the stock. Directional sentiment based on order flow was 58 percent bearish with 4,509 put options traded vs. only 46 calls. The combined option volume was 130 times the usual daily turnover in the saving and loan holding company, Trade Alert data show.
The activity was heavily focused in the January 2010 puts at the $15 strike where 3,439 contracts traded, exceeding existing positions held by investors of
472. It looked like buyers dominated the action, as two-thirds hit ask
side, said WhatsTrading.com option strategist Frederic Ruffy.
Option traders also priced in expectations for more stock moves as Washington Federal's average implied volatility rose to 43 percent from about 35 percent late on Friday.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1611 ET 31Aug2009-US STOCKS SNAPSHOT
Wall St ends lower on day; up for month
U.S. stocks ended lower on Monday as a sharp drop in Chinese equities added to concerns about the global economy's recovery.
For more please double click
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1427 ET 31Aug2009
Ford U.S. sales rise in August: company analyst
Ford Motor Co will report a U.S. auto sales increase in August and the industry may post its first monthly year-over-year sales rise since October 2007, the automaker's chief sales analyst said on Monday.
For the industry, the seasonally adjusted annual rate of sales in the United States is likely to come in above last August's 13.6 million rate, but below the top of recent forecasts after buying dropped off near the end of the month, Ford's George Pipas said.
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.