Broadcom Calls Rise; Stocks Mixed
Stocks are mixed Tuesday following an April trade deficit report that showed
a slight decrease from March’s levels. Leading sectors of the day include
Internets and semiconductors while lagging sectors include chemicals and oil
services.
At mid-day, the VIX has increased .72 to 23.52.
The OEX 800 calls are down 1/4 to 21 3/4.
Among bigger movers on heavier-than-average volume:
Broadcom
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PowerRating) has jumped 18 to 165 1/2 on news the broadband chip
maker will join the S&P 500. The Broadcom July 200 calls are up 4 7/8 to 7
1/2 on five times the average volume.
In the Internet sector, America Online
(
AOL |
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PowerRating) is up 2 1/4 to 56 3/4 while
the AOL July 60 calls have gained 3/4 to 2 on triple the average volume.
Micron
(
MU |
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PowerRating) is pacing the semis with a 3 1/8 gain to 84 5/8. The Micron
July 85 calls are up 1 1/2 to 7 1/4 on quadruple the average volume.
Digital Island
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PowerRating) is up 11 3/8 to 45 7/8 on news the company will
receive $45 million in investments from Compaq, Intel and Microsoft. The Digital
Island August 50 calls have gained 4 15/16 to 7 1/4 on five times the average
volume.
Looking ahead, the week’s economic news is light as traders look ahead to
Thursday’s weekly unemployment numbers at 8:30 AM ET for more clues as to the
Fed’s inclination about rates next week.