Real-time equity news
U.S. stock market report
1725 EST 18Jan2011
Apple holiday quarter shines, shares advance
Shares of Apple Inc added 1.1 percent to $344.40 in extended trading after the company reported better-than-expected revenue, fueled by blockbuster holiday sales of the iPhone and iPad.
For details, see For Instant View, see
Reuters Messaging: alina.selyukh.thomsonreuters.com@reuters.net
1705 EST 18Jan2011 Google pre
earnings options action is brisk
Options action is picking up in Google Inc and is likely to remain brisk this week ahead of expiration this Friday and its earnings later this week, said WhatsTrading.com options strategist Frederic Ruffy.
Google's stock rose 2.48 percent to close at $639.63 and notched a new year high intraday after several brokerages raised their price target on the company's stock ahead of the Internet giant's results, which are slated for Thursday after the close.
In the options, overall volume was 2.4 times greater than average daily volume with about 74,000 calls and 43,000 puts traded, data from Trade Alert showed. WhatsTrading.com options strategist Frederic Ruffy said the top trades are an apparent January $610-$650 bearish risk reversal at $2.70 that traded
1,800 times, which he believes might be a short
term hedge or collar ahead of earnings. Beyond that, he said most of the action has been in smaller lots and includes a possible January $595-$605-$650-$670 iron condor at $7.35, which traded 355 times. The trade involves buying and holding four different options with different strike prices and is constructed by holding a long and short position in two strangle strategies.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1640 EST 18Jan2011-AIG selects four banks to manage share sale
source
AIG chose Bank of America, Deutsche Bank AG, Goldman Sachs Group Inc and JPMorgan Chase & Co, to manage the sale of the government's 92 percent stake in the insurer, a person familiar with the situation said on Tuesday.
For details, see
Shares of AIG ticked down 0.5 percent to $52.89 after the bell.
Reuters Messaging: alina.selyukh.thomsonreuters.com@reuters.net
1632 EST 18Jan2011
Cargill to sell Mosaic majority stake; Mosaic down
Agribusiness company Cargill Inc plans to sell its majority stake in fertilizer company Mosaic Co. For details, see
Mosaic shares dipped 0.2 percent to $84.90 in after-market trading.
Reuters Messaging: alina.selyukh.thomsonreuters.com@reuters.net
1632 EST 18Jan2011
IBM rises after the bell on strong Q4 profit, outlook
Shares of International Business Machines Corp rose 2.3 percent to $154.13 after the bell as the company reported a higher-than-expected quarterly profit and gave an upbeat outlook for 2011, raising hopes for a strong recovery in corporate technology spending.
For details, see
Reuters Messaging: alina.selyukh.thomsonreuters.com@reuters.net
1629 EST 18Jan2011
Citi January $5 call options become popular
Citigroup Inc slid 6.43 percent to close at $4.80. A steep drop in bond trading revenue pushed Citigroup's fourth-quarter profit far below expectations, casting doubt over Chief Executive Vikram Pandit's claim that the bank had 'turned the corner.' For details, see.
In the U.S. options market, the stock's January $5 calls were the most actively traded contract after more than 349,000 contracts changed hands. According to Trade Alert, 52 percent of the total volume traded on the bid, indicating selling pressure.
The contract is 20 cents out-of-the-money and currently has the most open interest of any listed options contract today, said optionsXpress senior market analyst Joe Cusick. The open interest in the Citi January $5 call option is roughly 2.5 million contracts.
'Some investors might be liquidating positions as the contract, which expires at the end of the week, falls deeper out-of-the-money,' Cusick said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2011. 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 EST 18Jan2011
Apple holiday quarter shines, shares advance
Shares of Apple Inc added 1.1 percent to $344.40 in extended trading after the company reported better-than-expected revenue, fueled by blockbuster holiday sales of the iPhone and iPad.
For details, see For Instant View, see
Reuters Messaging: alina.selyukh.thomsonreuters.com@reuters.net
1705 EST 18Jan2011 Google pre
earnings options action is brisk
Options action is picking up in Google Inc and is likely to remain brisk this week ahead of expiration this Friday and its earnings later this week, said WhatsTrading.com options strategist Frederic Ruffy.
Google's stock rose 2.48 percent to close at $639.63 and notched a new year high intraday after several brokerages raised their price target on the company's stock ahead of the Internet giant's results, which are slated for Thursday after the close.
In the options, overall volume was 2.4 times greater than average daily volume with about 74,000 calls and 43,000 puts traded, data from Trade Alert showed. WhatsTrading.com options strategist Frederic Ruffy said the top trades are an apparent January $610-$650 bearish risk reversal at $2.70 that traded
1,800 times, which he believes might be a short
term hedge or collar ahead of earnings. Beyond that, he said most of the action has been in smaller lots and includes a possible January $595-$605-$650-$670 iron condor at $7.35, which traded 355 times. The trade involves buying and holding four different options with different strike prices and is constructed by holding a long and short position in two strangle strategies.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1640 EST 18Jan2011-AIG selects four banks to manage share sale
source
AIG chose Bank of America, Deutsche Bank AG, Goldman Sachs Group Inc and JPMorgan Chase & Co, to manage the sale of the government's 92 percent stake in the insurer, a person familiar with the situation said on Tuesday.
For details, see
Shares of AIG ticked down 0.5 percent to $52.89 after the bell.
Reuters Messaging: alina.selyukh.thomsonreuters.com@reuters.net
1632 EST 18Jan2011
Cargill to sell Mosaic majority stake; Mosaic down
Agribusiness company Cargill Inc plans to sell its majority stake in fertilizer company Mosaic Co. For details, see
Mosaic shares dipped 0.2 percent to $84.90 in after-market trading.
Reuters Messaging: alina.selyukh.thomsonreuters.com@reuters.net
1632 EST 18Jan2011
IBM rises after the bell on strong Q4 profit, outlook
Shares of International Business Machines Corp rose 2.3 percent to $154.13 after the bell as the company reported a higher-than-expected quarterly profit and gave an upbeat outlook for 2011, raising hopes for a strong recovery in corporate technology spending.
For details, see
Reuters Messaging: alina.selyukh.thomsonreuters.com@reuters.net
1629 EST 18Jan2011
Citi January $5 call options become popular
Citigroup Inc slid 6.43 percent to close at $4.80. A steep drop in bond trading revenue pushed Citigroup's fourth-quarter profit far below expectations, casting doubt over Chief Executive Vikram Pandit's claim that the bank had 'turned the corner.' For details, see.
In the U.S. options market, the stock's January $5 calls were the most actively traded contract after more than 349,000 contracts changed hands. According to Trade Alert, 52 percent of the total volume traded on the bid, indicating selling pressure.
The contract is 20 cents out-of-the-money and currently has the most open interest of any listed options contract today, said optionsXpress senior market analyst Joe Cusick. The open interest in the Citi January $5 call option is roughly 2.5 million contracts.
'Some investors might be liquidating positions as the contract, which expires at the end of the week, falls deeper out-of-the-money,' Cusick said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2011. 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.