Ariba Calls Rally; Nasdaq Shines
Internets and semiconductors are powering a Nasdaq rally Thursday that has
taken the index up 1.6% Thursday to its highest level in nearly three months. The
Dow and S&P 500 are marginally higher as well, but the day clearly belongs
to tech.
At mid-day, the VIX is down .20 to 22.88.
The OEX July 810 calls are up 1 to 9 1/4.
Among bigger movers on heavier-than-average volume:
Ariba
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PowerRating) is up 20 3/4 to 124 3/16 after beating earnings estimates
on Wednesday. The Ariba August 140 calls are up 6 3/8 to 8 on
heavier-than-average volume.
Brocade
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PowerRating) is up 7 5/16 to 201 3/16 while the Brocade July 200 calls
have added 3 1/8 to 7 3/8 on more than five times the average volume.
PMC Sierra
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PowerRating) is up 21 7/16 to 229 1/2 ahead of its earnings
announcement scheduled for after the bell. The PMC Sierra July 250 calls are up
4 1/8 to 5 1/4 on five times the average volume.
Cisco
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PowerRating) is up 2 9/16 to 66 7/16 while the Cisco July 65 calls are 1
3/16 to 2 1/2 on more than 6000 contracts.
Looking ahead, the Producer Price Index numbers will be released at 8:30 AM
ET on Friday and should offer more clues as to the inflationary pressures, or
lack thereof, in the economy.