Yahoo! Calls Leap; Stocks Higher
Stocks are higher Wednesday following the parade of positive earnings and
takeover announcements. Internets and broker/dealers are the top sectors of the
day while health care and chemicals are the weakest.
At mid-day, the VIX has increased .74 to 23.13.
The OEX July 810 calls are up 1 3/8 to 7 7/8.
Among bigger movers on heavier-than-average volume:
Yahoo!
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PowerRating) has jumped 15 3/8 to 120 7/8 after topping analyst
earnings estimates. The Yahoo! July 120 calls have gained 3 3/4 to 6 1/2 on more
than 8000 contracts.
Rambus
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PowerRating) has risen 6 7/8 to 94 1/4 as semiconductor stocks rebound
from recent declines. The Rambus July 100 calls are up 1 1/8 to 4 1/2 on four
times the average volume.
JP Morgan
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PowerRating) has gained 5 15/16 to 123 7/8 as speculation about
financial takeover targets swirls through the market. The JP Morgan July 125
calls have added 2 1/16 to 3 on triple the average volume.
Nasdaq bellwether Sun Microsystems
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PowerRating) is up 3 3/16 to 93 3/8 while
the SUNW July 85 calls have added 2 3/8 to 9 3/8 on five times the average
volume.
Looking ahead, the June Producer Price Index numbers will be released Friday
at 8:30 AM ET.