Stocks on the move
Real-time equity news
U.S. stock market report
1721 ET 26Feb2010
Earnings diary for March 1
Companies expected to post results on Monday include the following:
- DISH Network Corp
- El Paso Corp
- MBIA Inc
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Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
1716 ET 26Feb2010
Economic diary for March 1
Monday's economic indicators include the following reports:
- Jan. personal income & outlays 8:30 a.m. (1330 GMT)
- Jan. construction spending 10 a.m. (1500 GMT)
- Feb ISM index 10 a.m. (1500 GMT)
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Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
1700 ET 26Feb2010-US government went deeper in red in 2009
Treasury
The U.S. government's financial position, reported on an accrual basis that more accurately accounts for long-term liabilities, continued to deteriorate in fiscal 2009, a report issued by the Treasury Department on Friday showed.
The government's net position, after deducting liabilities from assets, was in shortfall by $11.46 trillion in the fiscal year that ended Sept 30, 2009, compared with $10.2 trillion in fiscal 2008.
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Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
1633 ET 26Feb2010
Wall St ends best month since Nov in slow day
U.S. stocks rose on Friday, capping their best monthly advance since November as data showed the economy grew a tad better than expected in the fourth quarter.
On a day marked by light volume as Wall Street was buried in a snowstorm, the falling dollar also boosted the shares of exporters, who benefit from a weaker greenback.
'The dollar has declined somewhat and, in general, when the dollar has been declining, that's positive for equities,' said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.
For more please double click
Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
1603 ET 26Feb2010 CurrencyShares Euro Trust ETF gets put fly
Shares of the CurrencyShares Euro Trust, an exchange-traded fund which reflects the price of the euro, rose 58 cents to $135.85. A put butterfly spread on the fund indicates one investor does not expect the gains to continue. The parameters of the spread benefit the trader most if shares fall about 2.25 percent by April expiration, said Interactive Brokers Group equity options analyst Caitlin Duffy in a note. The transaction comes as the U.S. dollar fell against the euro. For details, see. The investor bought 5,000 puts at the April $134 strike for $1.50 apiece and picked up 5,000 puts at the April $130 strike for an average premium of 58 cents each. The body of the butterfly was sandwiched between the two wings of the spread at the April $132 strike where 10,000 puts were sold for 95 cents a piece. The cost of the trade was 18 cents per contract. Maximum potential profits of $1.82 a contract are available to the player if FXE shares fall to $132 by April expiration. Profit potential of $1.82 per contract trumps maximum loss exposure of 18 cents per contract, and sets up a nice reward-to-risk ratio of more than
10-to
1, she added.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1343 ET 26Feb2010 Best Buy draws bullish three
way strategy
One large investor initiated a bullish three-way strategy on electronics retailer Best Buy with specific expectations. The investor apparently bought the April $37-$40 (1X2) call spread while selling April $34 puts, 4,000 times on the International Securities Exchange, said WhatsTrading.com option strategist Frederic Ruffy. Sentiment data on the ISE indicate that 4,000 of the calls are opening customer buyers. The investor bought 4,000 April $37 calls and sold 8,000 April $40 call strikes and 4,000 April $34 puts. This resulted in a net credit of 8 cents per contract on the package, Ruffy said.
OptionMonster analyst David Russell said 'the trade is designed to leverage a rebound to no greater than $40, which has been a relevant support and resistance level over the last year.' If it closes at that level, the investor will pocket $3 in addition to the small credit already earned,' Russell said in comments on the Web site. He also noted the gains will erode above $40 and become losses over $43. The trader will also lose money if Best Buy shares fall below about $34.
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
1721 ET 26Feb2010
Earnings diary for March 1
Companies expected to post results on Monday include the following:
- DISH Network Corp
- El Paso Corp
- MBIA Inc
For more please double click
Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
1716 ET 26Feb2010
Economic diary for March 1
Monday's economic indicators include the following reports:
- Jan. personal income & outlays 8:30 a.m. (1330 GMT)
- Jan. construction spending 10 a.m. (1500 GMT)
- Feb ISM index 10 a.m. (1500 GMT)
For more please double click
Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
1700 ET 26Feb2010-US government went deeper in red in 2009
Treasury
The U.S. government's financial position, reported on an accrual basis that more accurately accounts for long-term liabilities, continued to deteriorate in fiscal 2009, a report issued by the Treasury Department on Friday showed.
The government's net position, after deducting liabilities from assets, was in shortfall by $11.46 trillion in the fiscal year that ended Sept 30, 2009, compared with $10.2 trillion in fiscal 2008.
For more please double click
Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
1633 ET 26Feb2010
Wall St ends best month since Nov in slow day
U.S. stocks rose on Friday, capping their best monthly advance since November as data showed the economy grew a tad better than expected in the fourth quarter.
On a day marked by light volume as Wall Street was buried in a snowstorm, the falling dollar also boosted the shares of exporters, who benefit from a weaker greenback.
'The dollar has declined somewhat and, in general, when the dollar has been declining, that's positive for equities,' said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.
For more please double click
Reuters Messaging rm://ellis.mnyandu.reuters.com@reuters.net
1603 ET 26Feb2010 CurrencyShares Euro Trust ETF gets put fly
Shares of the CurrencyShares Euro Trust, an exchange-traded fund which reflects the price of the euro, rose 58 cents to $135.85. A put butterfly spread on the fund indicates one investor does not expect the gains to continue. The parameters of the spread benefit the trader most if shares fall about 2.25 percent by April expiration, said Interactive Brokers Group equity options analyst Caitlin Duffy in a note. The transaction comes as the U.S. dollar fell against the euro. For details, see. The investor bought 5,000 puts at the April $134 strike for $1.50 apiece and picked up 5,000 puts at the April $130 strike for an average premium of 58 cents each. The body of the butterfly was sandwiched between the two wings of the spread at the April $132 strike where 10,000 puts were sold for 95 cents a piece. The cost of the trade was 18 cents per contract. Maximum potential profits of $1.82 a contract are available to the player if FXE shares fall to $132 by April expiration. Profit potential of $1.82 per contract trumps maximum loss exposure of 18 cents per contract, and sets up a nice reward-to-risk ratio of more than
10-to
1, she added.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1343 ET 26Feb2010 Best Buy draws bullish three
way strategy
One large investor initiated a bullish three-way strategy on electronics retailer Best Buy with specific expectations. The investor apparently bought the April $37-$40 (1X2) call spread while selling April $34 puts, 4,000 times on the International Securities Exchange, said WhatsTrading.com option strategist Frederic Ruffy. Sentiment data on the ISE indicate that 4,000 of the calls are opening customer buyers. The investor bought 4,000 April $37 calls and sold 8,000 April $40 call strikes and 4,000 April $34 puts. This resulted in a net credit of 8 cents per contract on the package, Ruffy said.
OptionMonster analyst David Russell said 'the trade is designed to leverage a rebound to no greater than $40, which has been a relevant support and resistance level over the last year.' If it closes at that level, the investor will pocket $3 in addition to the small credit already earned,' Russell said in comments on the Web site. He also noted the gains will erode above $40 and become losses over $43. The trader will also lose money if Best Buy shares fall below about $34.
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.