Stocks on the move
Real-time equity news
U.S. stock market report
1715 ET 16April2010
Citi option volume swells, volatility up
Option activity on Citigroup continued to draw heavy trading. Its shares fell 5.2 percent to $4.56. Traders exchanged about 3.10 million contracts, bringing this week's total to more than 10.5 million, according to Trade Alert data. Influential factors were the expiration of April options, SEC Goldman charges and Citi's Monday morning earnings release, said WhatsTrading.com option strategist Frederic Ruffy.
Goldman Sachs Group was charged with fraud by the Securities and Exchange Commission over its marketing of a subprime mortgage product designed to fail. Citi June $5 calls were among the busiest, with 330,000 lots traded and half traded on the bid, Ruffy said. One player sold 10,000 contracts at 27.5 cents in morning action. In all, the June $5 call traded 402,207 times. Traders also eyed the May $5, January 2011 $5 and Jan 2012 $7.50 calls, he said. Implied volatility rose and approached 60 percent for the first time in 2010.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1706 ET 16April2010
US Economic, earnings diaries for April 19
Companies scheduled to report quarterly results on Monday include Citigroup , IBM, Eli Lilly, Halliburton and Hasbro Inc .
Economic indicators include the March leading index number.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1621 ET 16April2010
Markets close lower on Goldman charges, earnings
Financial stocks plunged on Friday, ending Wall Street's six-day winning streak as fraud charges against Goldman Sachs and some disappointing earnings sent investors running for cover.
The Dow Jones industrial average dropped 125.91 points, or 1.13 percent, to 11,018.66, according to the latest available figures. The Standard & Poor's 500 Index lost 19.54 points, or 1.61 percent, to 1,192.13. The Nasdaq Composite Index shed 34.43 points, or 1.37 percent, to 2,481.26.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1604 ET 16April2010
Traders scoop up Deutsche Bank put options
Deutsche Bank AG shares dropped 9.24 percent to $74.17 on news the SEC charged Goldman Sachs with fraud over its marketing of a subprime mortgage product designed to fail. In the options patch, DB action was explosive as volume was 14 times the average daily volume with 12,000 put options traded against 2,259 calls options, according to Trade Alert. Some put buyers snapped up the May $70, April $75 and May $65 put options, said WhatsTrading.com option strategist Frederic Ruffy. Traders are bracing for more share price swings as the demand for options sent the stock's option implied volatility higher. Option implied volatility rose almost 30 percent to 48 percent during the session, Ruffy said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1306 ET 16April2010
Oppenheimer downgrades Goldman after SEC move
Oppenheimer on Friday downgraded Goldman Sachs Group Inc to 'perform' from 'outperform' after the Securities and Exchange Commission charged the financial services giant with fraud.
The fraud is related to the structuring and marketing of a debt product tied to subprime mortgages.
For details, see
'Goldman is the only party charged, and this concerns us because it makes it appear that the SEC's agenda is being driven in large part by public sentiment,' Oppenheimer wrote to clients.
The firm added that the company 'is probably vulnerable to more charges and outsized fines.'
Shares of Goldman fell 10 percent to $165.28.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1252 ET 16April2010
Markets extend losses on Goldman, banks sink
U.S. stocks extended losses on Friday, with the S&P 500 briefly down more than 2 percent after Goldman Sachs was charged with fraud by the U.S. regulators and company earnings disappointed investors.
The Dow Jones industrial average dropped 150.47 points, or 1.35 percent, to 10,994.10. The Standard & Poor's 500 Index fell 22.83 points, or 1.88 percent, to 1,188.84. The Nasdaq Composite Index lost 43.06 points, or 1.71 percent, to 2,472.63.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1242 ET 16April2010
Crude oil sinks after Goldman news
May crude futures fell on Friday, tracking equities following the news that the U.S. government charged Goldman Sachs with fraud over subprime-related financial products dragged down markets.
For details, see
The contract lost 3 percent to $82.91 per barrel.
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
1715 ET 16April2010
Citi option volume swells, volatility up
Option activity on Citigroup continued to draw heavy trading. Its shares fell 5.2 percent to $4.56. Traders exchanged about 3.10 million contracts, bringing this week's total to more than 10.5 million, according to Trade Alert data. Influential factors were the expiration of April options, SEC Goldman charges and Citi's Monday morning earnings release, said WhatsTrading.com option strategist Frederic Ruffy.
Goldman Sachs Group was charged with fraud by the Securities and Exchange Commission over its marketing of a subprime mortgage product designed to fail. Citi June $5 calls were among the busiest, with 330,000 lots traded and half traded on the bid, Ruffy said. One player sold 10,000 contracts at 27.5 cents in morning action. In all, the June $5 call traded 402,207 times. Traders also eyed the May $5, January 2011 $5 and Jan 2012 $7.50 calls, he said. Implied volatility rose and approached 60 percent for the first time in 2010.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1706 ET 16April2010
US Economic, earnings diaries for April 19
Companies scheduled to report quarterly results on Monday include Citigroup , IBM, Eli Lilly, Halliburton and Hasbro Inc .
Economic indicators include the March leading index number.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1621 ET 16April2010
Markets close lower on Goldman charges, earnings
Financial stocks plunged on Friday, ending Wall Street's six-day winning streak as fraud charges against Goldman Sachs and some disappointing earnings sent investors running for cover.
The Dow Jones industrial average dropped 125.91 points, or 1.13 percent, to 11,018.66, according to the latest available figures. The Standard & Poor's 500 Index lost 19.54 points, or 1.61 percent, to 1,192.13. The Nasdaq Composite Index shed 34.43 points, or 1.37 percent, to 2,481.26.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1604 ET 16April2010
Traders scoop up Deutsche Bank put options
Deutsche Bank AG shares dropped 9.24 percent to $74.17 on news the SEC charged Goldman Sachs with fraud over its marketing of a subprime mortgage product designed to fail. In the options patch, DB action was explosive as volume was 14 times the average daily volume with 12,000 put options traded against 2,259 calls options, according to Trade Alert. Some put buyers snapped up the May $70, April $75 and May $65 put options, said WhatsTrading.com option strategist Frederic Ruffy. Traders are bracing for more share price swings as the demand for options sent the stock's option implied volatility higher. Option implied volatility rose almost 30 percent to 48 percent during the session, Ruffy said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1306 ET 16April2010
Oppenheimer downgrades Goldman after SEC move
Oppenheimer on Friday downgraded Goldman Sachs Group Inc to 'perform' from 'outperform' after the Securities and Exchange Commission charged the financial services giant with fraud.
The fraud is related to the structuring and marketing of a debt product tied to subprime mortgages.
For details, see
'Goldman is the only party charged, and this concerns us because it makes it appear that the SEC's agenda is being driven in large part by public sentiment,' Oppenheimer wrote to clients.
The firm added that the company 'is probably vulnerable to more charges and outsized fines.'
Shares of Goldman fell 10 percent to $165.28.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1252 ET 16April2010
Markets extend losses on Goldman, banks sink
U.S. stocks extended losses on Friday, with the S&P 500 briefly down more than 2 percent after Goldman Sachs was charged with fraud by the U.S. regulators and company earnings disappointed investors.
The Dow Jones industrial average dropped 150.47 points, or 1.35 percent, to 10,994.10. The Standard & Poor's 500 Index fell 22.83 points, or 1.88 percent, to 1,188.84. The Nasdaq Composite Index lost 43.06 points, or 1.71 percent, to 2,472.63.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1242 ET 16April2010
Crude oil sinks after Goldman news
May crude futures fell on Friday, tracking equities following the news that the U.S. government charged Goldman Sachs with fraud over subprime-related financial products dragged down markets.
For details, see
The contract lost 3 percent to $82.91 per barrel.
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.