Microsoft Calls Rise; Stocks Mixed
Stocks are mixed Wednesday following a tame Consumer Price Index report that showed
very little in the way of inflationary pressures. The May CPI posted a 0.1%
increase which was smaller than the 0.2% increase analysts expected while the
closely-watched core rate came in at the expected 0.2%.
At mid-day, the VIX is up .25 to 24.62.
The OEX June 800 calls are up 1/8 to 4.
Among bigger movers on heavier-than-average volume:
Microsoft
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PowerRating) is up 3 to 70 7/8 following word that the company’s
antitrust case will move on to the U.S. Circuit Court of Appeals. The Microsoft
July 70 calls are up 1 3/8 to 4 1/4 on nearly 10,000 contracts.
Novellus
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PowerRating) is up 5 7/8 to 57 7/16 after news that the company will
be added to the S&P 500. The Novellus June 50 calls are up 6 1/4 to 8 on
quadruple the average volume.
Drug giant Schering Plough
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PowerRating) is up 3 1/8 to 48 5/8 after receiving an
analyst upgrade. The Schering Plough June 45 calls are up 2 5/8 to 3 3/4 on
quadruple the average volume.
America Online
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PowerRating) is up 1 3/4 to 53 3/8 while the AOL June 50 calls
have added 1 1/2 to 3 1/4 on five times the average volume.
Looking ahead, the May industrial production and capacity utilization numbers
are due out Thursday at 9:15 AM ET.