Intel Calls Rise; Nasdaq Turns
Stocks sloughed off more earnings warnings as the Nasdaq managed to reverse
the recent downtrend with a 1.2% increase. Semis were the top sector while
biotechnology was the weakest.
At the clsoe, the VIX had decreased 1.64 to 29.22.
Among bigger movers on heavier-than-average volume:
Intel
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PowerRating) rose 1 1/16 to 30 3/8 as semis regrouped. The Intel March
30 calls added 1 7/16 to 1 5/8 on more than 9000 contracts.
Dell Computer
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PowerRating) gained 1 3/8 to 23 7/16 to help the techs. The Dell
August 25 calls added 1/2 to 3 1/4 on more than 6000 contracts.
Bristol Myers
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PowerRating) slipped .80 to 63.40 while the BMY June 70 calls lost
.50 to 2.50 on more than 3000 contracts.
Seibel Systems
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PowerRating) slid 2 31/64 to 33 5/8 while the SEBL March 35
calls sank 1 3/8 to 2 5/8 on more than 11,000 contracts.