Intel Puts Up; Market Sinks
A slightly higher-than-expected CPI number has helped trigger a round of
profit taking, as all three major averages have sunk into the red. Oil services
and biotechs are the top groups of the day while Internets and semiconductors
are the weakest.
At mid-day, the VIX has increased .62 to 22.68.
The OEX 810 calls have fallen 5 1/4 to 6 3/4.
Among bigger movers on heavier-than-average volume:
Intel has fallen 4 1/2 to 141 13/16 ahead of its earnings announcement due
out after the bell. The Intel July 140 puts have gained 1 1/2 to 3 on triple the
average volume.
Copper Mountain
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PowerRating) is down 26 3/16 to 97 1/4 after beating earnings
estimates but failing to top whisper numbers. The CMTN July 100 calls are down
20 5/8 to 3 1/8 on quadruple the average volume.
Dell
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PowerRating) is bucking the day’s downward course and is up 1/2 to 54
1/16. The Dell July 50 calls are up 1/2 to 4 1/4 on heavier-than average volume.
America Online
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PowerRating) is down 2 1/8 to 60 7/8 while the AOL July 60 calls
are down 15/16 to 1 7/8.
Looking ahead, June’s housing starts and building permits reports will be
released Thursday at 8:30 AM ET.