SPLK - Splunk, Inc. – Options on software and data analysis company, Splunk, Inc., are far more active than usual this morning, with volume topping 4,600 contracts versus the stock’s average daily options volume of 670 contracts, as of 11:20 a.m. ET. Shares in the name are up better than 6% on the day to stand at $31.63, the highest level since October 2012. Traders positioning for shares in the name to extend gains in the near term snapped up January and February expiry call options. Upside calls with one full trading week remaining to expiration looked to the Jan. $30 and $35 strikes, purchasing around 500 and 220 contracts at those striking prices, at average premiums of $0.92 and $0.11 apiece, respectively. Bullish activity spread to the Feb. $35 strike where around 450 calls were purchased for an average premium of $0.41 each, preparing buyers to profit at February expiration in the event that Splunk shares rally another 12% to exceed the average breakeven price of $35.41. But, not all of the activity is in SPLK calls; trading traffic is also robust in the Jan. $30 strike put options. Traders exchanged around 1,300 puts at the Jan. $30 strike versus previously existing open interest of 446 contracts. Put players paid an average premium of $0.42 per contract, and may profit at expiration in the event that Splunk’s shares slip 6.5% from the current price to trade below $29.58.
GNK - Genco Shipping & Trading, Ltd. – Call options looking for shares in drybulk shipping company, Genco Shipping & Trading, Ltd., to rally substantially during the next five weeks were active this morning as shares in the name moved higher. The stock gained more than 4% during the first 15 minutes of the session, hitting an intraday high of $4.24. However, the stock was unable to hang onto earlier gains, and currently trades down 4% on the day at $3.91 as of 12:40 p.m. in New York. Traders positioning for Genco’s shares to extend the start-of-session rally purchased more than…
GM - General Motors Co. – A couple of bullish bets in options covering automobile manufacturer, General Motors, may prove prudent investments for some strategists should shares in GM increase approximately 15.0% by January expiration. Shares in the Detroit, MI-based company are on the rise in early-afternoon trade, standing 0.45% higher on the session at $26.54 as of 12:10 pm in New York. It looks like options players initiated two ratio call spreads this morning. The larger of the transactions involved the purchase of 3,602 calls at the Jan. 2012 $26 strike at a premium of $2.82 each, against the sale of 7,204 calls up at the Jan. 2012 $30 strike for a premium of $1.22 apiece. Net premium paid for the spread amounts to $0.38 per contract, thus positioning the trader to make money should shares in the automaker exceed the effective breakeven price of $26.38 at expiration in January. The investor could rake in maximum potential profits of $3.62 per contract in the event that shares in GM rally 13.0% to settle at $30.00 at expiration next year. Meanwhile, the smaller and more optimistic of the trades engaged the purchase of 1,000 Jan. 2012 $27 strike calls for an average premium of $2.37 each, and the sale of twice as many of the Jan. 2012 $31 strike contracts at an average premium of $0.97 a-pop. The net cost of the spread amounts to $0.43 apiece, and therefore an average breakeven share price of $31.43. Maximum potential profits of $3.57 per contract are available on the trade should shares in the car maker surge 16.8% to settle at $31.00 at expiration day. Shares in GM last traded above $31.00 back in mid-July.
BCSI - Blue Coat Systems, Inc. – Call options on Blue…
After pesonal spending growth slowed modestly one month ago, rising 3.8% Y/Y, in August US consumption once again disappointed, staying flat in the month, below the 0.1% expected sequential rebound, although this was offset by an upward revision to the last month's data from 0.3% to 0.4%. On an inflation adjusted basis, as feeds into the GDP beancount, Real PCE dipped -0.1% in August, well below July's 0.3% bounce, missing the expectation of a 0.1% rise while the Core PCE Index was inline with the 1.7% expected on a Y/Y basis.
At the same time, Personal Income was in line with expectations, ...
The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday September 29, 2016:
Qualcomm Said to be in Talks to Acquire NXP Semiconductors for $30B+
Qualcomm Inc. (NASDAQ: QCOM) is said in talks to acquire NXP Semiconductors NV (NASDAQ: NXPI), according to sources as reported by Dow Jones on Thursday. The sources said a deal, which could happen over the next two to three months, would likely be valued at over $30 billion, though NXP's market cap was already over $32 billion following the report.
By insidesources. Originally published at ValueWalk.
IRS Walks Tightrope in Plan to Use Private Debt Collectors
The Internal Revenue Service is looking to use private contractors to help collect tax debt but some warn there is a risk of increased scams and abuse.
The IRS announced its intent to use private debt collectors Sept. 26 in response to a congressional order. The federal agency hopes to have the program operational by spring. The idea could help the agency to more efficiently collect tax debt, but it might also be opening the door to fraud and abuse.
“What makes it worse is the prevalence of these scam artists who call pretending to be IRS collectors,ȁ...
U.S. stocks fell as banks retreated amid growing concern that Deutsche Bank AG’s woes will spread to the global financial sector. Health-care shares sank on speculation tighter regulations will crimp profits.
In early 2009, the seven largest publicly traded college operators were worth a combined $51 billion. Today, they’ve been all but wiped out.
When Barack Obama took office, America’s seven largest publicly traded college operators were worth a combined $51 billion, with more than 815,000 students enrolled at campuses spread across the country. The schools were flooded with with people seeking shelter from the recession, returning to school to pick up new skills.
Almost eight years later, the industry has been decimated. The seven largest listed operators are worth just over $6 billion, and the most valuable co...
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I was so pleased yesterday by the announcement that I have joined the Research team at GoldCore as it meant that I could finally start talking about it and was back in a role that lets me indulge in my passion by researching and geeking out on all things gold, silver and money.
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Epizyme was founded in 2007, and trying to create drugs to treat patient's cancer by focusing on genetically-linked differences between normal and cancer cells. Cancer areas of focus include leukemia, Non-Hodgkin's lymphoma and breast cancer. One of the Epizme cofounders, H. Robert Horvitz, won the Nobel Prize in Medicine in 2002 for "discoveries concerning genetic regulation of organ development and programmed cell death."
Before discussing the drug targets of Epizyme, understanding epigenetics is crucial to comprehend the company's goals.
Genetic components are the DNA sequences that are 'inherited.' Some of these genes are stronger than others in their expression (e.g., eye color). Yet, some genes turn on or off due to external factors (environmental), and it is und...
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