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Real-time equity news
U.S. stock market report 1724 ET 15Apr2010 MGM option volume pops up ahead of expiry
MGM Mirage, Bank of America, Mattel and First Horizon National, among others.
Economic indicators on tap for Friday include March housing starts and University of Michigan sentiment data for April.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1712 ET 15April2010
Icahn raises offer for Lions Gate
Billionaire activist shareholder Carl Icahn on Thursday said he raised his hostile offer for Lions Gate Entertainment Corp to $7 a share from $6 a share.
He said he also intends to replace Lions Gate's board with his own slate of nominees. Icahn said the offering period will expire on May 14.
Lions Gate had no immediate comment.
For details, see
Shares of Lions Gate rose 8.3 percent to $6.90 in extended trading.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1703 ET 15April2010
Goldman: Buy Eli Lilly puts, sell Pfizer puts to fund
Goldman Sachs advised clients this week to buy May Eli Lilly puts and offsetting the purchase by selling May Pfizer Inc puts at nearly zero cost. 'Our analyst prefers Pfizer to Eli Lilly heading into earnings based on recent outperformance and earnings expectations.' Goldman option strategists said in a note. Lilly option prices appear low vs. Pfizer relative to history. With Lilly shares at a recent reference point of $36.92, the strategists suggested the purchase of the May $35 puts for 39 cents to position for downside and volatility. They estimate shares would need to move 1 percent to break-even if investors traded out after April 19 earnings and volatility fell by the eight-quarter median of 5.5 percent. The median share move over the past 8 quarters has been almost 3 percent. With Pfizer shares recently at $17.18, investors can consider selling the May $16 puts for 14 cents to fund Lilly puts. The key risk to the combined trade is that Pfizer underperforms Lilly in the near term.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1619 ET 15April2010-Foreign central bank U.S. debt holdings rise
Fed
Foreign central banks' ownership of U.S. Treasuries and agency securities at the Federal Reserve rose for a 10th consecutive week, data from the U.S. central bank showed on Thursday.
The combined holdings of Treasuries and agency securities by foreign central banks at the Fed rose $8.18 billion to $3.039 trillion in the week ended April 14.
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Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1627 ET 15April2010
Boston Scientific rises after FDA move
Boston Scientific Corp said on Thursday it was resuming shipments of most of its implanted defibrillators after U.S. regulators cleared manufacturing changes.
The company said it was immediately resuming distribution of Cognis and Teligen devices, which 'represent virtually all of the company's defibrillator implant volume in the United States.'
For details, see
Shares of Boston Scientific gained 6.4 percent to $7.60.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1623 ET 15April2010
Google shares fall after Q1 results
Google Inc said its revenue grew 23 percent in the first quarter, beating Wall Street expectations.
Shares of Google, which have increased roughly 5 percent since Monday, slid
3 percent to $577.71 in after
hours trade on Thursday.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1621 ET 15April2010
Wall Street ends higher on transports, data drags
U.S. stocks posted their sixth straight session of gains on Thursday as an encouraging profit forecast from United Parcel Service lifted transportation shares, though concerns about a rise in weekly jobless claims limited the market's advance.
The Dow Jones industrial average added 21.46 points, or 0.19 percent, to end unofficially at 11,144.57. The Standard & Poor's 500 Index edged up 1.03 points, or 0.09 percent, to finish unofficially at 1,211.68. The Nasdaq Composite Index gained 10.83 points, or 0.43 percent, to close unofficially at 2,515.69.
Reuters Messaging: ryan.vlastelica.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 1724 ET 15Apr2010 MGM option volume pops up ahead of expiry
MGM Mirage, Bank of America, Mattel and First Horizon National, among others.
Economic indicators on tap for Friday include March housing starts and University of Michigan sentiment data for April.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1712 ET 15April2010
Icahn raises offer for Lions Gate
Billionaire activist shareholder Carl Icahn on Thursday said he raised his hostile offer for Lions Gate Entertainment Corp to $7 a share from $6 a share.
He said he also intends to replace Lions Gate's board with his own slate of nominees. Icahn said the offering period will expire on May 14.
Lions Gate had no immediate comment.
For details, see
Shares of Lions Gate rose 8.3 percent to $6.90 in extended trading.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1703 ET 15April2010
Goldman: Buy Eli Lilly puts, sell Pfizer puts to fund
Goldman Sachs advised clients this week to buy May Eli Lilly puts and offsetting the purchase by selling May Pfizer Inc puts at nearly zero cost. 'Our analyst prefers Pfizer to Eli Lilly heading into earnings based on recent outperformance and earnings expectations.' Goldman option strategists said in a note. Lilly option prices appear low vs. Pfizer relative to history. With Lilly shares at a recent reference point of $36.92, the strategists suggested the purchase of the May $35 puts for 39 cents to position for downside and volatility. They estimate shares would need to move 1 percent to break-even if investors traded out after April 19 earnings and volatility fell by the eight-quarter median of 5.5 percent. The median share move over the past 8 quarters has been almost 3 percent. With Pfizer shares recently at $17.18, investors can consider selling the May $16 puts for 14 cents to fund Lilly puts. The key risk to the combined trade is that Pfizer underperforms Lilly in the near term.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1619 ET 15April2010-Foreign central bank U.S. debt holdings rise
Fed
Foreign central banks' ownership of U.S. Treasuries and agency securities at the Federal Reserve rose for a 10th consecutive week, data from the U.S. central bank showed on Thursday.
The combined holdings of Treasuries and agency securities by foreign central banks at the Fed rose $8.18 billion to $3.039 trillion in the week ended April 14.
For more please double click
Reuters Messaging: ellis.mnyandu.reuters.com@reuters.net
1627 ET 15April2010
Boston Scientific rises after FDA move
Boston Scientific Corp said on Thursday it was resuming shipments of most of its implanted defibrillators after U.S. regulators cleared manufacturing changes.
The company said it was immediately resuming distribution of Cognis and Teligen devices, which 'represent virtually all of the company's defibrillator implant volume in the United States.'
For details, see
Shares of Boston Scientific gained 6.4 percent to $7.60.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1623 ET 15April2010
Google shares fall after Q1 results
Google Inc said its revenue grew 23 percent in the first quarter, beating Wall Street expectations.
Shares of Google, which have increased roughly 5 percent since Monday, slid
3 percent to $577.71 in after
hours trade on Thursday.
For details, see
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1621 ET 15April2010
Wall Street ends higher on transports, data drags
U.S. stocks posted their sixth straight session of gains on Thursday as an encouraging profit forecast from United Parcel Service lifted transportation shares, though concerns about a rise in weekly jobless claims limited the market's advance.
The Dow Jones industrial average added 21.46 points, or 0.19 percent, to end unofficially at 11,144.57. The Standard & Poor's 500 Index edged up 1.03 points, or 0.09 percent, to finish unofficially at 1,211.68. The Nasdaq Composite Index gained 10.83 points, or 0.43 percent, to close unofficially at 2,515.69.
Reuters Messaging: ryan.vlastelica.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.