Rambus Puts Rise; Stocks Stay Mixed
Cyclicals helped move the Dow and S&P 500 higher Tuesday, but weakness in
select Nets and chips weighed on the Nasdaq. Top-performing sectors were oil
services, forest and paper products, and broker/dealers. On the downside were
semiconductors and Internets.
By the close, the VIX had decreased .49 to 22.39.
The OEX 810 calls ended down 1/4 to 6 1/2.
Among bigger movers on heavier-than-average volume:
Rambus
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PowerRating) sank 10 to 87 1/4 as semiconductors fell victim to
profit-taking. The Rambus July 75 puts rose 1 5/8 to 2 1/4 on five times the
average volume.
JDS Uniphase
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PowerRating) continued its selloff, falling 5 7/16 to 95 11/16
following its Monday announcement to merge with SDL Inc. The JDSU July 100 calls
plunged 3 9/16 to 2 11/16 on more than 5000 contracts.
Brokerages continued to show strength, as Paine Webber
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PowerRating) added 3
13/16 to 49 15/16. The Paine Webber July 50 calls rose 1 1/2 to 2 1/8 on nearly
2000 contracts.
Also strong was Lehman Brothers
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PowerRating), which gained 4 5/16 to 106 7/16.
The Lehman July 110 calls tacked on 1 13/16 to 2 on heavier-than-average volume.