Real-time equity news
U.S. stock market report
1725 ET 15July2010
Goldman to pay $550 mln to settle SEC charges
Goldman Sachs Group Inc agreed to pay $550 million to regulators to settle civil fraud charges over how it marketed a subprime mortgage product, sending its shares up more than 4 percent.
Its shares continued to rise after the closing bell, gaining 4.9 percent to $152.25. The stock closed at $145.22.
Reuters Messaging: leah.schnurr.reuters.com@reuters.net
1710 ET 15July2010
Wall St recoups losses on BP, Goldman
U.S. stocks ended little changed on Thursday, recouping losses late in the day, led by a sudden turnaround in Goldman Sachs and BP.
The potential resolution of two major overhangs -- BP's oil spill and fraud charges against Goldman Sachs by U.S. regulators -- was enough to turn market sentiment around in the last half hour.
Reuters Messaging: leah.schnurr.reuters.com@reuters.net
1655 ET 15July2010
Citi July $4 options turn busy into earns
Option traders exchanged about 902,000 contracts in Citigroup Inc ahead of its second-quarter results on Friday. The overall volume was led by the trading of approximately 535,000 calls, according to Trade Alert. Traders focused on the July $4 call and put strikes, where volume was heavy. Those July options expire after the close on Friday.
'Heading into Citigroup earnings, there were some large option trades in the July $4 call strike. It appeared that many traders sold those calls early in the session on the belief that the upside in Citi potentially will not go beyond $4.10 to $4.20 after it reports,' said Joe Cusick, senior market analyst at online brokerage optionsXpress in Chicago. There was also a large block of July $4 puts purchased as a likely protective hedge against a potentially bearish earnings announcement.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1557 ET 15July2010
Apple option volatility rises into iPhone event
Bullish and bearish option traders in Apple Inc are scrambling to take positions ahead of an iPhone 4 news conference. As a result, Apple implied option volatility is up 5 percent to 44.5 percent, said optionsXpress senior market analyst Joe Cusick. Apple is likely to announce a fix for the iPhone 4's reception problems, rather than a recall, at a surprise press conference on the device on Friday, analysts said. For details see.
'Apple option traders are bracing for a big move in the underlying shares boosted by uncertainty over the iPhone 4 smartphone and next week's earnings,' said Jon Najarian, a co-founder of Web information site optionMonster.
Najarian noted the spurt in volatility was much higher compared to April when the 30-day implied volatility peaked at 32 percent during their last earnings cycle.
In all, about 208,000 calls and 153,000 puts traded in Apple near the close, according to option analytics firm Trade Alert.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1518 ET 15July2010
Wall St reform passes, goes to Obama for signing
The U.S. Congress on Thursday approved the broadest overhaul of financial rules since the Great Depression and sent it to President Barack Obama to sign into law. For details see
By a vote of 60 to 39, the Senate gave final approval to a sweeping measure that tightens regulations across the financial industry in an effort to avoid a repeat of the 2007-09 financial crisis.
Reuters Messaging: rodrigo.campos.reuters.com@reuters.net
1501 ET 15July2010
Options bull targets Western Union
Western Union Co, the world's largest payment transfer company, saw an opening buyer of 5,000 November $17.50 calls at 65 cents per contract, said Patrick Mortimer, director of option trading at Pipeline Trading Systems. These 34 delta options trade at an implied volatility of 34.5 percent, up 2 percent from Wednesday's level, he added.
The bullish transaction will begin to profit when WU's share price rises more than 14.5 percent, he said.
The strategist might be looking for WU to deliver strong earnings when it reports second-quarter earnings on July 27, said WhatsTrading.com option strategist Frederic Ruffy.
Western Union shares slipped 8 cents to $15.88 during the afternoon session. Its overall option volume was 16.8 times the usual level with about 11,000 calls and 4,026 puts traded, according to Trade Alert.
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.
U.S. stock market report
1725 ET 15July2010
Goldman to pay $550 mln to settle SEC charges
Goldman Sachs Group Inc agreed to pay $550 million to regulators to settle civil fraud charges over how it marketed a subprime mortgage product, sending its shares up more than 4 percent.
Its shares continued to rise after the closing bell, gaining 4.9 percent to $152.25. The stock closed at $145.22.
Reuters Messaging: leah.schnurr.reuters.com@reuters.net
1710 ET 15July2010
Wall St recoups losses on BP, Goldman
U.S. stocks ended little changed on Thursday, recouping losses late in the day, led by a sudden turnaround in Goldman Sachs and BP.
The potential resolution of two major overhangs -- BP's oil spill and fraud charges against Goldman Sachs by U.S. regulators -- was enough to turn market sentiment around in the last half hour.
Reuters Messaging: leah.schnurr.reuters.com@reuters.net
1655 ET 15July2010
Citi July $4 options turn busy into earns
Option traders exchanged about 902,000 contracts in Citigroup Inc ahead of its second-quarter results on Friday. The overall volume was led by the trading of approximately 535,000 calls, according to Trade Alert. Traders focused on the July $4 call and put strikes, where volume was heavy. Those July options expire after the close on Friday.
'Heading into Citigroup earnings, there were some large option trades in the July $4 call strike. It appeared that many traders sold those calls early in the session on the belief that the upside in Citi potentially will not go beyond $4.10 to $4.20 after it reports,' said Joe Cusick, senior market analyst at online brokerage optionsXpress in Chicago. There was also a large block of July $4 puts purchased as a likely protective hedge against a potentially bearish earnings announcement.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1557 ET 15July2010
Apple option volatility rises into iPhone event
Bullish and bearish option traders in Apple Inc are scrambling to take positions ahead of an iPhone 4 news conference. As a result, Apple implied option volatility is up 5 percent to 44.5 percent, said optionsXpress senior market analyst Joe Cusick. Apple is likely to announce a fix for the iPhone 4's reception problems, rather than a recall, at a surprise press conference on the device on Friday, analysts said. For details see.
'Apple option traders are bracing for a big move in the underlying shares boosted by uncertainty over the iPhone 4 smartphone and next week's earnings,' said Jon Najarian, a co-founder of Web information site optionMonster.
Najarian noted the spurt in volatility was much higher compared to April when the 30-day implied volatility peaked at 32 percent during their last earnings cycle.
In all, about 208,000 calls and 153,000 puts traded in Apple near the close, according to option analytics firm Trade Alert.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1518 ET 15July2010
Wall St reform passes, goes to Obama for signing
The U.S. Congress on Thursday approved the broadest overhaul of financial rules since the Great Depression and sent it to President Barack Obama to sign into law. For details see
By a vote of 60 to 39, the Senate gave final approval to a sweeping measure that tightens regulations across the financial industry in an effort to avoid a repeat of the 2007-09 financial crisis.
Reuters Messaging: rodrigo.campos.reuters.com@reuters.net
1501 ET 15July2010
Options bull targets Western Union
Western Union Co, the world's largest payment transfer company, saw an opening buyer of 5,000 November $17.50 calls at 65 cents per contract, said Patrick Mortimer, director of option trading at Pipeline Trading Systems. These 34 delta options trade at an implied volatility of 34.5 percent, up 2 percent from Wednesday's level, he added.
The bullish transaction will begin to profit when WU's share price rises more than 14.5 percent, he said.
The strategist might be looking for WU to deliver strong earnings when it reports second-quarter earnings on July 27, said WhatsTrading.com option strategist Frederic Ruffy.
Western Union shares slipped 8 cents to $15.88 during the afternoon session. Its overall option volume was 16.8 times the usual level with about 11,000 calls and 4,026 puts traded, according to Trade Alert.
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.