Intel Calls Fall; Stocks Sink
A stronger-than-expected employment report combined with the Intel profit
warning to trigger a broad-based selloff in stocks Friday. Drugs were the day’s
top sector while computer technology was the weakest.
At the close, the VIX had increased 2.89 to 29.35.
Among bigger movers on heavier-than-average volume:
Intel
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PowerRating) closed down 3 13/16 to 29 7/16 after its earnings warning.
The Intel April 35 calls fell 1 1/16 to 9/16 on more than 23,000 contracts.
Philip Morris
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PowerRating) was one of the few positive holdout on the Dow as it
gained .90 to 51.75. The Philip Morris April 50 calls closed up .55 to 3.20 on
more than 16,000 contracts.
Dell Computer
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PowerRating) fell 2 3/4 to 23 5/8 while the Dell March 25 calls
slipped 5/16 to 1/2 on more than 18,000 contracts.