STOCKS NEWS US-Players focus on Crocs upside call options

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1212 ET 10June2009 Bullish players load up on Crocs call options
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Shares of Crocs Inc (CROX.O) rose 45 cents to $3.70 along with a jump in
its call volume. Crocs, the maker of brightly colored resin shoes, will be
presenting at the Piper Jaffray annual consumer conference in New York on
Wednesday. Option players have been eyeing the January 2010 $7.50 and the June
and June $4 call options. The top trade of the day was a block of 3,342 January
$7.50 calls at the offer for a premium of 45 cents per contract, which was part
of a broker-dealer purchase of 4,000 contracts, said WhatsTrading.com option
strategist Frederic Ruffy. The flurry of call activity sent the stock's option
implied volatility to 110 percent from 108 percent the previous session. In
all, 8,330 calls traded compared to 775 puts, three times the norm, according
to Trade Alert. Sentiment based on order flow was 77 percent bullish.

Reuters Messaging: doris.frankel.reuters.com@reuters.net
1202 ET 10June2009-DA Davidson: high oil prices could hurt recovery
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DA Davidson on Wednesday wrote that crude oil prices, which "act as a
direct, broad-based tax that impedes consumer spending on other items," could
slow or delay an economic recovery in spite of federal economic stimulus
spending.

"Most investors appear to be anticipating the recession bottoming out this
summer and a quick economic rebound in the fourth quarter," the firm wrote.
"Rising oil prices are one force that could lengthen the recession and add a
growing dimension of pain to many American families. If oil prices suddenly
race up to $100 per barrel, a sustainable consumer led economic recovery would
be difficult to achieve.

"Bottom-line, rising oil prices combined with the continuing rise in
10-year Treasury note yields are becoming near-term equity market concerns," it
wrote.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1144 ET 10June2009 Goldman suggests RIM call spreads ahead of earnings
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Call spreads in Research in Motion Ltd (RIM.TO) (RIMM.O) look attractive
for upside leverage at reduced cost as either an overlay on long stock
positions or outright options strategy ahead of June 18 earnings, said Goldman
Sachs derivative strategists in a note. Goldman raised its price target on RIM
and reiterated its "conviction buy" rating on shares of the Blackberry maker,
citing increased shipments in the smartphone market and stable gross margins.
"Strong smartphone unit growth could drive upside to consensus estimates and
P/E multiple expansion given discount valuation versus key peers," the note
said. Option prices have fallen in absolute terms but remain high vs the Nasdaq
100 index .NDX. Consistent with Goldman analyst's positive outlook, the skew
is at a 1-year low, making calls comparatively expensive. The strategists
suggests buying July $85/$95 call spreads for upside in a wide range at reduced
cost. With shares at $82.02, the strategy costs $3.10.

Reuters Messaging: doris.frankel.reuters.com@reuters.net
1122 ET 10June2009-Markets fall on concerns about high oil
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Major U.S. indexes fell on Wednesday, on concerns that surging oil prices
could hurt an economic recovery, pulling down shares of technology companies
and big manufacturers.

For details, see [ID:nN10407828]

The Dow Jones industrial average .DJI fell 0.3 percent to 8,736.68 while
the S&P 500 .SPX lost 0.5 percent to 938.15 and the Nasdaq .IXIC was off
1.2 percent to 1,838.50.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1113 ET 10June2009-99 Cents Only climbs after earnings
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Discount retailer 99 Cents Only (NDN.N) shares jumped on Wednesday after
the company reported better-than-expected fourth-quarter earnings, citing
increased sales and and improvements in operating efficiencies.

The company reported consolidated earnings of 10 cents per share on revenue
of $329.2 million, topping Wall Street estimates of 4 cents per share and
$323.8 million in revenue.

For 2010, 99 Cents Only believes the current economic environment will
continue to generate opportunities for the company, but noted that it would be
pleased to maintain the profitability generated in the fourth-quarter.

Shares climbed 13 percent to $12.13. Fellow discount retailers Family
Dollar Stores Inc (FDO.N) shed 1.1 percent to $30.52, Dollar Tree Inc (DLTR.O)
slipped 0.4 percent to $44.14 while Big Lots Inc (BIG.N) dropped 2.6 percent to
$23.59.

Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net
1107 ET 10June2009-Sina results, outlook weighs on peers
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Shares of Chinese Internet companies fell on Wednesday, a day after Sina
Corp (SINA.O) reported a drop in its first-quarter earnings. The company also
gave a revenue outlook that was below expectations.

For details, see [ID:nBNG311065]

Shares of Sina fell 7.8 percent to $30.36 while Baidu Inc (BIDU.O) was off
2.9 percent to $300.36 and Sohu.com Inc (SOHU.O) fell 1.5 percent to $67.81.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net