Options Trading News

September 19, 2012  Wed 7:27 AM CT


Earnings Beat and Guidance Is Raised

Cracker Barrel Old Country Store earned $1.47 a share on revenue of $700 million. Analysts had only expected $1.30 and $685 million, respectively. Management also raised guidance based on strong comparable sales and new store openings. CBRL climbs 6 percent before the bell on my tradeMONSTER platform.

Bank of America Turns Bullish on Achillion

Achillion Pharmaceuticals got a big vote of confidence from Bank of America today, which upgraded the stock and almost doubled the price target to $13 from $7. The rating went all the way from "underperform" to "buy," based on a view its two-drug treatment for Hepatitis C will be a success. ACHN climbs 12 percent early trading.

Weak Outlook Weighs on Ascena Retail

Ascena Retail reported better-than-expected quarterly results, but the guidance left something to be hoped for. Management sees full-year profit of just $1.45 to $1.55 a share, while the Street was modeling $1.56. ASNA drops 6 percent on the news.

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The art of trading

As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

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