Options Trading News

July 23, 2013  Tue 7:31 AM CT


All-Cash Deal At Rich Premium

Cyber-security provider Sourcefire is getting gobbled up by Cisco Systems for $2.7 billion. The deal values the smaller company at $76 a share in cash. FIRE catapults 29 percent higher before the opening bell on my tradeMONSTER platform. Rival Fortinet (FTNT) is up 10 percent, as well.

Array BioPharma Gains on Phase II Data

Array BioPharma announced positive results from a Phase II trial of its ARRY-502 compound for the treatment of asthma. Management said it's now seeing a partner to keep developing the product. ARRY rose 17 percent in the premarket.

Subscriber Gains Weigh on Netflix

Netflix's earnings beat expectations, but subscriber growth did not! Only 630,000 streaming customers signed up in the second quarter, while analysts had projected 700,000. Given its massive 183 percent rally year-to-date, traders are taking a cautious stance, sending NFLX down 4 percent in early trading.

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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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