Wednesday, October 3, 2012

Wednesday 10.3 pre-mkt outlook

The /ES closed yesterday at 1440 and looks to open at 1442 today.

$BBY is in talks of going private buyout, supposedly valuing the company at 11 billion which is double it's current mkt cap (an expectation the share price would go from 18 to 36, dubious to this guy)

$FDO came out with earnings, same store sales increased but revenue declined slightly. They also slightly increased the forward outlook. It's up about 2.5% pre-mkt where I expect it to stay.

$NFLX is on watch after an upgrade by Citi, trading up 4% after closing at 56.46 to 58.80 in pre-mkt. The 60 calls will be ones to watch off the open. We could be in for a good old fashioned short squeeze today, 30% of the float is short.

$AAPL is in the news as their Asian suppliers have reportedly begun producing products for a mini tablet. It sold off big yesterday, down to 650 before rallying to 660 in the last hour.

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