Stocks on the move [HOT-RTRS] Real-time Equity news [U E] [RESF/US]
U.S. stock market report [.N]
1344 ET 26May2009 Option players seem to be bullish on Seagate
------------------------------------------------------------------------------
Some investors appear to be bullish on Seagate Technology (STX.O),
expecting the stock to move above $9 before September expiration as put sellers
dominate the action. Its shares rose 2.96 percent to $8.69 in afternoon trade.
About 20,000 puts traded in Seagate vs 3,147 calls, double the normal combined
daily turnover, according to Trade Alert. Most of the focus is in July and
September at-the-money $8 and $9 puts and appears to be driven by premium
sellers. Earlier in the session, the majority of that activity hit bid-side,
said WhatsTrading.com option strategist Frederic Ruffy. ISEE data also indicate
that sellers, not buyers, have dominated the action. The stock's option implied
volatility is off a few points and fell to multi-month lows of 59 percent.
Earnings are expected in mid-July, Ruffy said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1328 ET 26May2009-BMO raises price target on Research in Motion
------------------------------------------------------------------------------
BMO Capital Markets on Tuesday raised its price target on Research In
Motion (RIMM.O) shares, citing strong device unit shipments and lower operating
expenses at the BlackBerry maker.
The target was raised to $82 from $72.
"We believe RIM has a strong product cycle with a mix of GSM/CDMA and new
3G devices slated for launch during calendar year 2009," the firm wrote.
Shares of Research in Motion advanced 6.3 percent to $76.54 on Tuesday.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1318 ET 26May2009-GM sinks after sources say exchange falls short
------------------------------------------------------------------------------
Shares of General Motors GM.N tumbled on Tuesday, after sources said that
the automaker's offer to exchange shares in the reorganized company for $27
billion in bond debt has met with a tepid response from investors.
GM bondholders have only tendered a low-single digit percentage of the
total debt available, the sources said.
For details, see [ID:nN26497252]
Shares of GM, a Dow component, fell 11 percent to $1.27.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1250 ET 26May2009 CIT Group calls stir, implied volatilities high
------------------------------------------------------------------------------
Shares of commercial lender CIT Group Inc (CIT.N) rose 3.81 percent to
$3.27 in afternoon trade. The rise in shares was accompanied by active call
activity and high options implied volatility. Its June $5 call options are busy
after a player recently bought 22,000 contracts for a premium of 20 cents a
contract, said WhatsTrading.com option strategist Frederic Ruffy. More than
25,000 contracts traded earlier in that strike price with nearly all trading
ask-side, he added. The equity's implied option volatility is elevated, but
steady, at 157 percent, according to Ruffy.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1138 ET 26May2009-Procter & Gamble upgraded at BMO
------------------------------------------------------------------------------
BMO Capital Markets on Tuesday upgraded Procter & Gamble (PG.N) to
outperform from market perform, saying the stock would rebound as uncertainty
surrounding its earnings prospects lift.
"We note that while the earnings of Avon Products Inc (AVP.N), Estee Lauder
Cos (EL.N), and Newell Rubbermaid Inc (NWL.N) are still under pressure, their
stocks have soared from 52-week lows once the concerns were addressed," the
firm wrote to clients.
For details, see [ID:nBNG489980]
Shares of Procter, a Dow component, rose 1.8 percent to $53.96 on Tuesday.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1127 ET 26May2009-Most S&P companies beating estimates in Q1: data
------------------------------------------------------------------------------
A majority of companies in the S&P 500 .SPX are reporting first-quarter
results above expectations, according to the Thomson Reuters This Week In
Earnings report.
"Of the 484 S&P 500 companies that have reported first-quarter earnings to
date, 65 percent reported earnings above analyst expectations and 26 percent
reported earnings below analyst expectations," the report read. "In aggregate,
companies in the S&P 500 are reporting earnings that are 6.7 percent above
estimates, which is well above the minus 9.5 percent average over the past
eight quarters."
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1122 ET 26May2009-Markets up after consumer confidence data
------------------------------------------------------------------------------
Major U.S. indexes rose on Tuesday, advancing after the release of data
that showed consumer confidence rose in May, lifting investor optimism.
For details, see [ID:nN26446362]
The Dow Jones industrial average .DJI rose 1.9 percent to 8,436.93 while
the S&P 500 .SPX gained 1.9 percent to 903.75 and the Nasdaq .IXIC was up
2.6 percent to 1,736.40.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
