AMCC Puts Rise; Techs Tank
Tech stocks are under pressure Friday following a round of
weaker-than-expected earnings and quite a few negative warnings about future
quarters. Drugs are the day’s top sector while semiconductors are the weakest.
At mid-day, the VIX is up .74 to 25.72.
The OEX February 720 calls are down 2.30 to 9.20.
Among bigger movers on heavier-than-average volume:
Applied Micro Circuits
(
AMCC |
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PowerRating) has fallen 6 13/16 to 71 3/16 as select
techs have been walloped. The AMCC Febraury 70 puts are up 2 3/8 to 5 1/4 on
more than 10,000 contracts.
Qualcomm
(
QCOM |
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PowerRating) has gained 4 5/8 to 78 7/16 after better-than-expected
earnings. The QCOM February 75 calls have gained 1 3/8 to 7 on more than 5800
contracts.
PMC Sierra
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PowerRating) is the disaster of the day, falling 26 1/4 to 69 5/8
after warning of future revenue problems. The PMCS February 89 puts have jumped
9 1/4 to 14 on more than 1300 contracts.
Pfizer
(
PFE |
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PowerRating) is up 1/2 to 44 15/16 in a resurgent drug group. The Pfizer
March 45 calls are up 1/2 to 2 3/8 on more than 8000 contracts.