BEA Systems Calls Rise; Market Higher
The Nasdaq turned in a respectable 2.1% gain Wednesday following the Fed’s
decision to leave interest rates alone. Biotechs and gold and silver were the
top sectors of the day while forest and paper products and oil services were the
weakest.
By the close, the VIX had decreased 1.30 to 23.49.
The OEX 820 calls ended the day down 7/8 to 4 3/4.
Among bigger movers on heavier-than-average volume:
BEA Systems
(
BEAS |
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PowerRating) rose 7 8/64 to 45 63/64 after being listed as a
Lehman Brothers "Uncommon Value" stock. The BEAS July 45 call gained 2
1/2 to 4 1/8 on more than quadruple average volume.
Voice recognition software maker Lernout & Hauspie
(
LHSP |
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PowerRating) gained 3
7/8 to 44 7/8 while the LHSP July 45 calls rose 2 5/16 to 3 1/2 on five times
the average volume.
WorldCom
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WCOM |
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PowerRating) held on to early gains to finish up 4 7/8 to 44 9/16.
The WCOM July 42 1/2 calls added 2 to 3 on triple average volume.
Phelps Dodge
(
PD |
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Chart |
News |
PowerRating), an industrial copper mining company issued an earnings
warning and fell 7/8 to 36 5/8. The Phelps Dodge July 40 puts rose 2 1/2 to 3
5/8 on eight times the average volume.