Market Chatter: Apple Volatility and Hurricane Sandy
Late day thoughts:
1) Hurricane Sandy getting an unusual amount of early attention. KeyBanc notes that "With trees still bearing leaves, the potential for downed lines is increased" and that this could affect electric utilities like Exelon, FirstEnergy, Pepco and PPL.
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Credit Suisse noted that storms of this type (nor'easters with the possibility of snow) "tend to be very good for retail sales due to their advance warning," with grocery stores and home improvement chains the likely beneficiaries.
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3) Apple: expect volatility. Traders tell me that Apple options are pricing in a move of 5 to 6 percent tomorrow, after the earnings are released tonight. Either way. Up or down.
(UPDATE: Apple Posts Rare Earnings Miss; Outlook Disappoints)