CBC.ca
CBC.ca
... shares fell $4.05 â€" or 4.2 per cent â€" to $93.09 US on the New York Stock Exchange, although it regained a little of that in after-hours trading. ...
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Airliners are seeing massive call option action today with Continental (NYSE: CAL) trading more than 7,700 October $18 calls with shares at $16.80; Delta (NYSE: DAL) trading more than 13,200 October $10 calls with shares at $9.35; and US Air (NYSE: LCC) trading more than 10,600 October $6 calls with shares at $5.18. Furthermore, JetBlue (NASDAQ: JBLU) October $7 calls are trading 10,900 October $7 calls with shares at $6.50. The trades have seen some very large blocks hit, and it may be a “shotgun approach” looking for consolidation in the airline industry, or just a bullish view as oil breaks below $70 a barrel and the airline companies seem to have seen the worst. Most of the airline stocks are at 52 week highs after jet fuel recently hit long time lows, which will improve margins plus the added benefit of a rebounding economy generating more air traffic and better fill rates on planes.
Joe Kunkle, OptionsHawk.com
11:00 AM EST
Amgen, Inc. (NASDAQ: AMGN) is seeing some positive action this morning. The biotech and drug maker announced Phase 3 trial results evaluating denosumab versus Zometa in advanced cancer patients with solid tumors or multiple myeloma showing that denosumab delayed skeletal related events (osteoporosis etc.). Shares are up over 2% at $62.20 on over 175,000 shares as of 8:52 AM EST. As this is already the leader here, the fallout may be limited in competitors. If you can believe it, Amgen is now within about 3% of its 52-week highs. -JON OGG