Stocks on the move
Real-time equity news
U.S. stock market report
1722 ET 28Jan2010-AFTER THE BELL
Amazon rises, reversing course after results
Shares of Amazon.com Inc reversed course shortly after the company reported quarterly results on Thursday to trade up 2.4 percent at $129.10.
The online retailer reported results that handily surpassed expectations in its closely watched holiday quarter and forecast stronger-than-expected revenue for early 2010. For details, see
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1716 ET 28Jan2010-INSTANT VIEW 4
Bernanke reconfirmed by US Senate
A majority of U.S. senators on Thursday voted to confirm Ben Bernanke for a second four-year term at the head of the Federal Reserve.
* A total of 70 senators voted to confirm, with 30 voting against.
COMMENTS: MARK VITNER, ECONOMIST, WELLS FARGO ADVISORS, CHARLOTTE, NORTH CAROLINA:
'I would breath a sign of relief that it is over. I really think that a lot of people failed to realize the significance of all the Congressional stonewalling on the Fed's independence and the perception of the Fed's independence, and the complexity that this could have created in the conduct of monetary policy.
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Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1702 ET 28Jan2010-Regulatory anxiety weighing on markets
academic
'What scares me is that Washington has become the financial capital and businesses are really concerned that the rules of the game are changing every day,' said Reena Aggarwal, professor of finance and an expert in market regulation at Georgetown University's McDonough School of Business.
'Today it's fees on banks, tomorrow it's some other regulatory issue. This uncertainty is really bad for business. There's just so much uncertainty. We've gone through a huge crisis and it's not that we have a simple prescription to get things fixed,' she told Reuters.
And then there's the whole political machine, she added. 'You just don't know after all the haggling in Congress what will eventually come out. I think this uncertainty is very damaging for the markets.'
1632 ET 28Jan2010
Wall St falls on tech earnings, global worry
U.S. stocks dropped on Thursday as poor outlooks from Motorola and Qualcomm dented optimism in the technology sector while worries about Greece's fiscal health dragged on sentiment.
Qualcomm Inc shares tumbled 14.2 percent to $40.48 and Motorola Inc slid 12.4 percent to $6.48 after both companies' earnings and outlooks fell short of expectations.
For more please double click
Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
1550 ET 28Jan2010
Bernanke vote briefly cushions Wall Street
U.S. stocks pared losses on Thursday after the U.S. Senate voted to clear a hurdle to Ben Bernanke's nomination to serve a second four-year term at the head of the Federal Reserve, a strong indication the votes are in place for final approval.
The vote to overcome roadblocks was 77-23. The Senate plans to move directly to a final confirming vote, where a simple majority of 51 is needed.
For more please double click
Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
1504 ET 28Jan2010 JPMorgan gets two large June call spreads
JPMorgan Chase & Co drew two large volume call spreads in the June contract, utilizing a total of 100,000 call option contracts, Interactive Brokers Group option analyst Caitlin Duffy wrote in a note. 'It looks like the big player responsible for the trades is anticipating a significant rebound in shares by expiration in five months time,' she said. The investor initiated one debit call spread and one credit call spread, suggesting an upper limit on the proposed rally in the shares. The stock rose 38 cents to $39.71. The debit spread portion involved the purchase of 25,000 calls at the June $40 strike for an average premium of $2.90 each, marked against the sale of 25,000 calls at the June $48 strike for 61 cents. The cost of the debit spread was $2.29 per contract, positioning the player to break even if shares rise to $42.29 by expiration. The investor stands ready to accumulate maximum profits of $5.71 a contract if shares rise to $48. The credit spread portion, which is a
25,000
lot June $50/$60 credit spread, implies the investor does not expect shares to breach $50 ahead of expiration. The trader keeps the net credit of 30 cents as long as the $50 strike calls land out-of-the-money at expiry.
Reuters Messaging: doris.frankel.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
1722 ET 28Jan2010-AFTER THE BELL
Amazon rises, reversing course after results
Shares of Amazon.com Inc reversed course shortly after the company reported quarterly results on Thursday to trade up 2.4 percent at $129.10.
The online retailer reported results that handily surpassed expectations in its closely watched holiday quarter and forecast stronger-than-expected revenue for early 2010. For details, see
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1716 ET 28Jan2010-INSTANT VIEW 4
Bernanke reconfirmed by US Senate
A majority of U.S. senators on Thursday voted to confirm Ben Bernanke for a second four-year term at the head of the Federal Reserve.
* A total of 70 senators voted to confirm, with 30 voting against.
COMMENTS: MARK VITNER, ECONOMIST, WELLS FARGO ADVISORS, CHARLOTTE, NORTH CAROLINA:
'I would breath a sign of relief that it is over. I really think that a lot of people failed to realize the significance of all the Congressional stonewalling on the Fed's independence and the perception of the Fed's independence, and the complexity that this could have created in the conduct of monetary policy.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1702 ET 28Jan2010-Regulatory anxiety weighing on markets
academic
'What scares me is that Washington has become the financial capital and businesses are really concerned that the rules of the game are changing every day,' said Reena Aggarwal, professor of finance and an expert in market regulation at Georgetown University's McDonough School of Business.
'Today it's fees on banks, tomorrow it's some other regulatory issue. This uncertainty is really bad for business. There's just so much uncertainty. We've gone through a huge crisis and it's not that we have a simple prescription to get things fixed,' she told Reuters.
And then there's the whole political machine, she added. 'You just don't know after all the haggling in Congress what will eventually come out. I think this uncertainty is very damaging for the markets.'
1632 ET 28Jan2010
Wall St falls on tech earnings, global worry
U.S. stocks dropped on Thursday as poor outlooks from Motorola and Qualcomm dented optimism in the technology sector while worries about Greece's fiscal health dragged on sentiment.
Qualcomm Inc shares tumbled 14.2 percent to $40.48 and Motorola Inc slid 12.4 percent to $6.48 after both companies' earnings and outlooks fell short of expectations.
For more please double click
Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
1550 ET 28Jan2010
Bernanke vote briefly cushions Wall Street
U.S. stocks pared losses on Thursday after the U.S. Senate voted to clear a hurdle to Ben Bernanke's nomination to serve a second four-year term at the head of the Federal Reserve, a strong indication the votes are in place for final approval.
The vote to overcome roadblocks was 77-23. The Senate plans to move directly to a final confirming vote, where a simple majority of 51 is needed.
For more please double click
Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
1504 ET 28Jan2010 JPMorgan gets two large June call spreads
JPMorgan Chase & Co drew two large volume call spreads in the June contract, utilizing a total of 100,000 call option contracts, Interactive Brokers Group option analyst Caitlin Duffy wrote in a note. 'It looks like the big player responsible for the trades is anticipating a significant rebound in shares by expiration in five months time,' she said. The investor initiated one debit call spread and one credit call spread, suggesting an upper limit on the proposed rally in the shares. The stock rose 38 cents to $39.71. The debit spread portion involved the purchase of 25,000 calls at the June $40 strike for an average premium of $2.90 each, marked against the sale of 25,000 calls at the June $48 strike for 61 cents. The cost of the debit spread was $2.29 per contract, positioning the player to break even if shares rise to $42.29 by expiration. The investor stands ready to accumulate maximum profits of $5.71 a contract if shares rise to $48. The credit spread portion, which is a
25,000
lot June $50/$60 credit spread, implies the investor does not expect shares to breach $50 ahead of expiration. The trader keeps the net credit of 30 cents as long as the $50 strike calls land out-of-the-money at expiry.
Reuters Messaging: doris.frankel.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.