Stocks on the move
Real-time Equity news
U.S. stock market report
1720 ET 17Sept2009
US economic diary for Sept. 18
No major economic indicators are scheduled for release.
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Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1719 ET 17Sept2009
US earnings diary for Sept. 18
No S&P 500 companies are scheduled to report results.
For more please double click
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1626 ET 17Sep2009-US STOCKS-Wall St edges down after three
day run higher
U.S. stocks slipped on Thursday after a three-day runup on concern recent gains were overextended despite the latest round of solid economic data.
For more please double click
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1655 ET 17Sept2009
Wall St dips after three days of gains
U.S. stocks dipped on Thursday after a three-day runup on concern recent gains were overextended despite the latest round of solid economic data.
Analysts said investors were trying to assess whether further market gains were justified, with the benchmark S&P 500 now up 58 percent since its early March lows.
The Dow Jones industrial average fell 7.79 points, or 0.08 percent, to end at 9,783.92. The Standard & Poor's 500 Index was down 3.27 points, or 0.31 percent, at 1,065.49. The Nasdaq Composite Index was down 6.40 points, or 0.30 percent, at 2,126.75.
Reuters Messaging: rodrigo.campos.reuters.com@reuters.net
1645 ET 17Sept2009
CBOE Volatility Index gets big option play
The CBOE Volatility Index, the implied volatility measure of the S&P 500 index, ended steady at 23.65. But in VIX products, one investor appears to be expecting much higher volatility levels by year-end. A significant trade was implemented in the VIX options pit in the December contract.
An investor apparently bought 72,000 40 calls for a 90-cent premium. The trader also sold a 22.50/27.50 strangle, 18,000 times on each side for $3.90 and collected 30 cents on the whole package. The transaction created a ratio of four December 40 calls to every one short December strangle, traders said.
'In one possible scenario, this strategy offers a profitable outcome if the VIX explodes and breaks out to the upside putting the December 40 calls in play,' said Dan Deming, VIX options trader at Stutland Equities.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1531 ET 17Sept2009
Susquehanna suggests Nike overwrite play
Nike Inc is due to report quarterly earnings next Wednesday. Ahead of the event, the stock's option implied volatility levels have increased as well as the premium for upside calls, said Susquehanna Financial Group in a note. SFG footwear analyst Christopher Svezia has a neutral rating on the stock. But he believes global revenue trends continue to be challenging and notes 'it will take until 3Q to see early signs of improvement, while continued inventory management, negative currency hedging, and higher 2H demand creation spending ahead of the World Cup will temper margins.' With little improvement likely in the global athletic footwear and apparel marketplace relative to the previous quarter, long investors could look at selling the Oct $60 calls at $1.05 ahead of the quarter, SFG said. Currently, the options imply a one-day earnings move of plus/minus 6 percent vs a realized average move of 4.6 percent and a median move of 3.7 percent over the past four quarters.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1502 ET 17Sept2009
Toyota ADRs up on $1 bln plan to boost U.S. sales
New York-listed shares of bellwether Toyota Motor Corp rose on Thursday, outperforming the broader Bank of New York Mellon index of leading American Depositary Receipts (ADRs) after the company announced a $1 billion marketing campaign to boost U.S. sales in the fourth quarter.
U.S.-traded shares of Toyota rose 0.22 percent to $82.63, while the ADRs index fell 0.6 percent. Asian ADRs also shed 0.84 percent, in line with the U.S. benchmark S&P 500 index that slipped 0.14 percent.
The $1 billion marketing and advertising plan by Japan's top automaker is 30 percent to 40 percent more than Toyota typically spends in the quarter.
Reuters Messaging: angela.moon.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
1720 ET 17Sept2009
US economic diary for Sept. 18
No major economic indicators are scheduled for release.
For more please double click
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1719 ET 17Sept2009
US earnings diary for Sept. 18
No S&P 500 companies are scheduled to report results.
For more please double click
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1626 ET 17Sep2009-US STOCKS-Wall St edges down after three
day run higher
U.S. stocks slipped on Thursday after a three-day runup on concern recent gains were overextended despite the latest round of solid economic data.
For more please double click
Reuters Messaging: caroline.valetkevitch.reuters.com@reuters.net
1655 ET 17Sept2009
Wall St dips after three days of gains
U.S. stocks dipped on Thursday after a three-day runup on concern recent gains were overextended despite the latest round of solid economic data.
Analysts said investors were trying to assess whether further market gains were justified, with the benchmark S&P 500 now up 58 percent since its early March lows.
The Dow Jones industrial average fell 7.79 points, or 0.08 percent, to end at 9,783.92. The Standard & Poor's 500 Index was down 3.27 points, or 0.31 percent, at 1,065.49. The Nasdaq Composite Index was down 6.40 points, or 0.30 percent, at 2,126.75.
Reuters Messaging: rodrigo.campos.reuters.com@reuters.net
1645 ET 17Sept2009
CBOE Volatility Index gets big option play
The CBOE Volatility Index, the implied volatility measure of the S&P 500 index, ended steady at 23.65. But in VIX products, one investor appears to be expecting much higher volatility levels by year-end. A significant trade was implemented in the VIX options pit in the December contract.
An investor apparently bought 72,000 40 calls for a 90-cent premium. The trader also sold a 22.50/27.50 strangle, 18,000 times on each side for $3.90 and collected 30 cents on the whole package. The transaction created a ratio of four December 40 calls to every one short December strangle, traders said.
'In one possible scenario, this strategy offers a profitable outcome if the VIX explodes and breaks out to the upside putting the December 40 calls in play,' said Dan Deming, VIX options trader at Stutland Equities.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1531 ET 17Sept2009
Susquehanna suggests Nike overwrite play
Nike Inc is due to report quarterly earnings next Wednesday. Ahead of the event, the stock's option implied volatility levels have increased as well as the premium for upside calls, said Susquehanna Financial Group in a note. SFG footwear analyst Christopher Svezia has a neutral rating on the stock. But he believes global revenue trends continue to be challenging and notes 'it will take until 3Q to see early signs of improvement, while continued inventory management, negative currency hedging, and higher 2H demand creation spending ahead of the World Cup will temper margins.' With little improvement likely in the global athletic footwear and apparel marketplace relative to the previous quarter, long investors could look at selling the Oct $60 calls at $1.05 ahead of the quarter, SFG said. Currently, the options imply a one-day earnings move of plus/minus 6 percent vs a realized average move of 4.6 percent and a median move of 3.7 percent over the past four quarters.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1502 ET 17Sept2009
Toyota ADRs up on $1 bln plan to boost U.S. sales
New York-listed shares of bellwether Toyota Motor Corp rose on Thursday, outperforming the broader Bank of New York Mellon index of leading American Depositary Receipts (ADRs) after the company announced a $1 billion marketing campaign to boost U.S. sales in the fourth quarter.
U.S.-traded shares of Toyota rose 0.22 percent to $82.63, while the ADRs index fell 0.6 percent. Asian ADRs also shed 0.84 percent, in line with the U.S. benchmark S&P 500 index that slipped 0.14 percent.
The $1 billion marketing and advertising plan by Japan's top automaker is 30 percent to 40 percent more than Toyota typically spends in the quarter.
Reuters Messaging: angela.moon.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.