Real-time equity news [E U]
U.S. stock market report
1103 ET 27Apr2010 Exco call spread looks for share rebound
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Exco Resources Inc slipped 1 cent to $6.83 and one options strategist
hopes to catch a rebound in the shares of the Dallas-based oil and gas producer.
In the options market, an XCO September $8-$10 call spread was bought on Friday
morning for 37.5 cents, trading 15,000 times as an opening position, said
WhatsTrading.com options strategist Frederic Ruffy. The trade was tied to
300,000 shares at $6.70. The stock has been pummeled for a 67.5 percent loss
since April 2011, Ruffy said. But he noted that shares rose 12.2 percent this
week and “the hefty call spread seems to express the view that the stock can
continue to recover some of its losses through mid-September.” The company’s
earnings come into play on May 1.
Reuters Messaging:
doris.frankel.reuters.com@reuters.net
0710 ET 27April2012-Economic and earnings diary for April 27
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Companies scheduled to report quarterly results on Friday include Chevron
and Newmont Mining. Ford Motor, Merck & Co,
International Paper and Procter and Gamble reported results
earlier Friday.
Economic indicators on tap include first-quarter gross domestic product data
and the April University of Michigan sentiment index.
