June 1, 2009 / 6:05 PM / 10 years ago

STOCKS NEWS US-Treasury: lending from TARP banks fell in March

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 For U.S. stock market report double-click [.N] 1358 ET 01June2009-Treasury: lending from TARP banks fell in March ------------------------------------------------------------------------------
 The U.S. Treasury Department on Monday said that average lending from about 500 banks that have received government capital injections fell $42 billion in  March compared to February.
 In the first monthly lending report from its Capital Purchase Program, the Treasury said average loans outstanding from CPP recipient banks fell to $5.237 billion in March from $5.279 billion in February.
 For details, see [ID:nN01335394]
 Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1344 ET 01June2009-Celldex shares gain after vaccine data ------------------------------------------------------------------------------
 Shares of Celldex Therapeutics (CLDX.O) rallied on Monday after the company released data from two studies of its experimental cancer vaccine that demonstrated its potential to help patients with brain cancer live longer.
 The data involved only 40 patients, but strongly suggested that the immunotherapeutic vaccine, called CDX-110, can delay worsening of the disease and potentially extend survival of patients with the deadly, common form of brain cancer following initial treatment with Schering-Plough Corp's SGP.N Temodar.
 The vaccine is being developed with Pfizer Inc (PFE.N).
 For details, see [ID:nN01468750]
 Shares of Celldex rose 31 percent to $11.81 while Dow component Pfizer slid 1.8 percent to $14.92.
 Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1333 ET 01June2009 Traders load up on Nvidia call options ------------------------------------------------------------------------------
 Shares of graphics chipmaker Nvidia Corp (NVDA.O), which attracted several days of bullish order flow last week, rose 4.7 percent to $10.92 in afternoon trade. In the stock's options, more than 11,200 contracts changed hands in the June $12.50 call strike. The volume included a block of 8,291 contracts traded at the offer for a premium of 20 cents a contract on the International Securities Exchange, which appeared to be fresh buying, said WhatsTrading.com option strategist Frederic Ruffy. There was no news on the stock to explain the bullish trading. The stock's option implied volatility was steady at around 61 percent, he added. In all, about 24,000 calls crossed the tape vs. 3,465 puts, according to Trade Alert. Sentiment based on order flow was 64 percent bullish.
 Reuters Messaging: doris.frankel.reuters.com@reuters.net
 1230 ET 01June2009-S&P 500 ETF players likely seek safety net ------------------------------------------------------------------------------
 A huge block of near-term out-of-the-money put options was bought in the SPDR S&P 500 (SPY.P) fund in what appears to be insurance against a pullback in the underlying S&P 500 index .SPX. U.S. stocks jumped on Monday on strong economic data. The exchange-traded fund, commonly referred to as the "Spyders," trades at one-10th the value of the S&P benchmark. The SPY rose 2.59 percent to $94.80 in afternoon trade. One top options trade in the market was a block of 50,000 SPY June $90 puts trading for a premium of $1.01 per contract on the International Securities Exchange, an opening customer buyer, according to ISEE sentiment data, said WhatsTrading.com option strategist Frederic Ruffy. More than 114,000 contracts have changed hands in that strike price, making it the top favorite name in the options crowd.
 Reuters Messaging: doris.frankel.reuters.com@reuters.net 1211 ET 01June2009-Dow Jones auto index rallies after GM bankruptcy ------------------------------------------------------------------------------
 The Dow Jones U.S. Automobile index .DJUSAU rallied on Monday, following the news that General Motors (GM.N) had filed for Chapter 11 bankruptcy protection.
 In the bankruptcy, the third-largest ever in the United States, the government will own 60 percent of a "new GM."
 For details, see [ID:nN01398575]
 The index gained 6.6 percent to 71.34 while GM was up 17 percent to 88 cents. Ford Motor Co (F.N) added 5.7 percent to $6.08.
 Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 

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