Stocks on the move
Real-time Equity news
U.S. stock market report
1633 ET 02Dec2009-US STOCKS
Nasdaq gains with online retailers; Dow slips
The Nasdaq rose on Wednesday as strong online holiday sales boosted shares of retailers, including Amazon.com, and relieved some concerns about consumer spending.
The Dow edged lower as falling oil prices prompted investors to sell energy shares, while the Standard & Poor's index finished flat.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1612 ET 02Dec2009 RTRS-US STOCKS SNAPSHOT
Amazon lifts Nasdaq; Dow, S&P flat
The Nasdaq ended higher on Wednesday as investors grew optimistic about Amazon.com Inc's holiday sales prospects, but the Dow and S&P 500 were little changed after oil prices retreated, pressuring shares of energy companies.
Amazon.com, an Internet retailer, finished up 2.7 percent at $142.25 on Nasdaq. During the session, the stock hit an all-time split-adjusted high of $142.67.
* But the S&P energy index dropped 0.8 percent.
* Based on the latest available data, the Dow Jones industrial average fell 18.90 points, or 0.18 percent, to close unofficially at 10,452.68. The Standard & Poor's 500 Index edged up just 0.38 of a point, or 0.03 percent, to finish unofficially at 1,109.24. The Nasdaq Composite Index gained 9.22 points, or 0.42 percent, to close unofficially at 2,185.03.
For more please double click
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1501 ET 02Dec2009
Airlines draw bearish options play after upgrade
Airline stocks were trading higher on Wednesday after Morgan Stanley raised UAL Corp and AMR Corp to 'overweight' from 'equal-weight'. Shares in UAL gained 13.2 percent to $9.35 in late afternoon trading and options activity ran at 12 times the expected by midday, including 12,000 puts and 15,000 calls, said WhatsTrading.com option strategist Frederic Ruffy. One options player bought 2500 Dec $8 puts at 25 cents each, possibly hedging a position in shares, said Ruffy. Dec and Jan10 $9 and $10 calls are seeing action as well and implied volatility is up to 90 percent, from about 88.5 percent late Tuesday, he said.
Shares of U.S. Airways also gained 7.1 percent to $3.95 and in the options market, heavy volume was spotted, running six times the average daily. One player bought 10,000 January $2.5 puts at 13 cents apiece, said Ruffy. The trade seemed repeated again as the total volume in the January $2.5 puts was more than 20,000 versus 16,000 in open interest. Jan $4 puts are seeing interest as well, with more than 5,000 traded and 79 percent on the ask-side, Ruffy said.
Reuters Messaging: angela.moon.reuters.com@reuters.net
1413 ET 02Dec2009-Pre-earnings anxiety trades seen for A
Power: analyst
Shares of wind turbine marker A-Power Energy Generation Systems Ltd fell 5.1 percent to $15.33 ahead of the company's earnings due early Thursday. In options market, top trades seem to reflect some pre-earnings anxiety after the Dec $12.50-$17.50 risk-reversal trades at 20 cents, said WhatsTrading.com option strategist Fred Ruffy. One trader bought 2,400 Dec $12.50 puts at 70 cents and sold half as many Dec $17.50 calls at 90 cents, said Ruffy. After a two-week rally of 60 percent, the stock is down 12 percent over the past three sessions and implied volatility is elevated at 127.5 percent.
Reuters Messaging: angela.moon.reuters.com@reuters.net
1403 ET 02Dec2009
JPMorgan revenues could fall on legislation: analysts
JPMorgan Chase & Co estimates revenue could fall as much as $3 billion next year if new regulations force most of its derivative transactions onto an exchange, according to research firm Sanford C. Bernstein.
The bank, the largest derivatives dealer on Wall Street, could take an earnings hit of 13 cents to 20 cents per share in 2010 if proposed derivatives rules becomes law, the analysts estimated after speaking Tuesday with Steve Black, executive chairman of JPMorgan's investment bank.
For details, see
Shares of JPMOrgan, a Dow component, fell 1.3 percent to $41.67.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1055 ET 02Dec2009
Callaway Golf barely moved after Woods statement
Shares of golf equipment maker Callaway Golf Co barely moved on Wednesday as Tiger Woods admitted he had let his family down in his private life.
The stock stayed in the range where it traded before Woods' statement, trading up 1.5 percent to $7.52 in midmorning trade.
For more please double click
Reuters Messaging: ellis.mnyandu.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
1633 ET 02Dec2009-US STOCKS
Nasdaq gains with online retailers; Dow slips
The Nasdaq rose on Wednesday as strong online holiday sales boosted shares of retailers, including Amazon.com, and relieved some concerns about consumer spending.
The Dow edged lower as falling oil prices prompted investors to sell energy shares, while the Standard & Poor's index finished flat.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1612 ET 02Dec2009 RTRS-US STOCKS SNAPSHOT
Amazon lifts Nasdaq; Dow, S&P flat
The Nasdaq ended higher on Wednesday as investors grew optimistic about Amazon.com Inc's holiday sales prospects, but the Dow and S&P 500 were little changed after oil prices retreated, pressuring shares of energy companies.
Amazon.com, an Internet retailer, finished up 2.7 percent at $142.25 on Nasdaq. During the session, the stock hit an all-time split-adjusted high of $142.67.
* But the S&P energy index dropped 0.8 percent.
* Based on the latest available data, the Dow Jones industrial average fell 18.90 points, or 0.18 percent, to close unofficially at 10,452.68. The Standard & Poor's 500 Index edged up just 0.38 of a point, or 0.03 percent, to finish unofficially at 1,109.24. The Nasdaq Composite Index gained 9.22 points, or 0.42 percent, to close unofficially at 2,185.03.
For more please double click
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1501 ET 02Dec2009
Airlines draw bearish options play after upgrade
Airline stocks were trading higher on Wednesday after Morgan Stanley raised UAL Corp and AMR Corp to 'overweight' from 'equal-weight'. Shares in UAL gained 13.2 percent to $9.35 in late afternoon trading and options activity ran at 12 times the expected by midday, including 12,000 puts and 15,000 calls, said WhatsTrading.com option strategist Frederic Ruffy. One options player bought 2500 Dec $8 puts at 25 cents each, possibly hedging a position in shares, said Ruffy. Dec and Jan10 $9 and $10 calls are seeing action as well and implied volatility is up to 90 percent, from about 88.5 percent late Tuesday, he said.
Shares of U.S. Airways also gained 7.1 percent to $3.95 and in the options market, heavy volume was spotted, running six times the average daily. One player bought 10,000 January $2.5 puts at 13 cents apiece, said Ruffy. The trade seemed repeated again as the total volume in the January $2.5 puts was more than 20,000 versus 16,000 in open interest. Jan $4 puts are seeing interest as well, with more than 5,000 traded and 79 percent on the ask-side, Ruffy said.
Reuters Messaging: angela.moon.reuters.com@reuters.net
1413 ET 02Dec2009-Pre-earnings anxiety trades seen for A
Power: analyst
Shares of wind turbine marker A-Power Energy Generation Systems Ltd fell 5.1 percent to $15.33 ahead of the company's earnings due early Thursday. In options market, top trades seem to reflect some pre-earnings anxiety after the Dec $12.50-$17.50 risk-reversal trades at 20 cents, said WhatsTrading.com option strategist Fred Ruffy. One trader bought 2,400 Dec $12.50 puts at 70 cents and sold half as many Dec $17.50 calls at 90 cents, said Ruffy. After a two-week rally of 60 percent, the stock is down 12 percent over the past three sessions and implied volatility is elevated at 127.5 percent.
Reuters Messaging: angela.moon.reuters.com@reuters.net
1403 ET 02Dec2009
JPMorgan revenues could fall on legislation: analysts
JPMorgan Chase & Co estimates revenue could fall as much as $3 billion next year if new regulations force most of its derivative transactions onto an exchange, according to research firm Sanford C. Bernstein.
The bank, the largest derivatives dealer on Wall Street, could take an earnings hit of 13 cents to 20 cents per share in 2010 if proposed derivatives rules becomes law, the analysts estimated after speaking Tuesday with Steve Black, executive chairman of JPMorgan's investment bank.
For details, see
Shares of JPMOrgan, a Dow component, fell 1.3 percent to $41.67.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1055 ET 02Dec2009
Callaway Golf barely moved after Woods statement
Shares of golf equipment maker Callaway Golf Co barely moved on Wednesday as Tiger Woods admitted he had let his family down in his private life.
The stock stayed in the range where it traded before Woods' statement, trading up 1.5 percent to $7.52 in midmorning trade.
For more please double click
Reuters Messaging: ellis.mnyandu.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.