STOCKS NEWS US-Markets flat as upgrades offset jobs data

Stocks on the move Real-time Equity news U.S. stock market report 1149 EST 06Nov2009-Markets flat as upgrades offset jobs data ------------------------------------------------------------------------------ U.S. stocks were flat on Friday, as positive broker comments on such companies as General Electric and Amazon were offset by data showing the unemployment rate soared to 10.2 percent last month, its highest in more than 26 years. Bernstein upgraded both GE and Amazon to "outperform," while Goldman Sachs upgraded Travelers Cos. For details, see The Dow Jones industrial average was flat at 10,007.47, while the S&P 500 was down less than a tenth of a percent to 1,066.25 and the Nasdaq was unchanged at 2,105.56. Reuters Messaging: [e-mail] 1101 EST 06Nov2009-W&T Offshore shares sink after downgrade ------------------------------------------------------------------------------ Shares of W&T Offshore Inc fell on Friday, after the company was downgraded to "hold" from "buy" at Jefferies, which said it saw few near-term catalysts to lift the stock. Jefferies expects the company to go through a 10 percent decline in production in 2010, and said the current commodity price and service cost environment appeared light. For details, see The stock shed 6.7 percent to $10.99. Reuters Messaging: [e-mail] 1041 ET 06Nov2009-Clorox calls turn busy, implied vols up ------------------------------------------------------------------------------ Investors appear to be picking up Clorox Co call options as its shares rose 7 cents to $59.54 and reached a high of $59.95 in morning trading. Overall option volume was six times the average daily turnover with about 12,000 calls traded against only 304 puts so far, Trade Alert data show. Some customers bought-to-open November and December $65 calls on the International Securities Exchange in early trade, according to ISEE data, said WhatsTrading.com option strategist Frederic Ruffy. He noted the November $60 call strikes were the most actives, with 4,700 contracts traded and 67 percent trading ask-side. The stock's average implied volatility is up to 25.5 percent, from about 24.7 percent late on Thursday. Reuters Messaging: [e-mail] 1023 ET 06Nov2009-Steel shares up after trade tariffs against China ------------------------------------------------------------------------------ U.S. steel producers' stocks rose on Friday, a day after the United States slapped preliminary anti-dumping duties as high as 99 percent on Chinese-made oil well pipe in the biggest U.S. trade action against China. The 10-stock Dow Jones iron and steel index rose 0.6 percent, even as the broad S&P 500 fell 0.1 percent. Shares of United States Steel Corp, which had joined other steelmakers in petitioning the Commerce Department for import curbs in April, rose 1.2 percent to $37.23. For more on this story, see ET 06Nov2009-Blue Coat draws ratio put spread ------------------------------------------------------------------------------ Shares of Blue Coat Systems Inc fell 1.1 percent to $25.02 on Friday morning, one day after the Internet-monitoring equipment maker announced a strategic plan to drive long-term revenue growth and increase operating profitability. In the options market, one player might be looking to hedge or bet against the company, WhatsTrading.com option strategist Frederic Ruffy said. A December $22.50-$25 (2X1) put ratio spread was bought at 20 cents and traded 2,500 times in what appeared to be an opening position, Ruffy added.

Overall volume was four times the average daily turnover with 8,373 puts and 759 calls traded, according to Trade Alert. Reuters Messaging: [e-mail] Keywords: MARKETS STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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