Market Round-up (GNW, NLX-U, DVAX, BKS, BGP)
Genworth Financial (NYSE: GNW) calls active on low volatility. GNW is expected to report Q4 EPS on January 29 and February 14 calls have traded 138 times on a transaction volume of 9,021 contracts versus its open interest of 17,915 contracts. According to Track Data, GNW’s February call option implied that the volatility for the month is at 52, and for March is at 53, which is below its 26-week average of 72. This suggests a decreasing price movement. Read more about this company here.
Overture Acquisition (AMEX: NLX-U) has entered into an agreement with Victory Park Capital Advisors. Under the agreement, funds managed by Victory Park or other purchasers acceptable to Victory Park and NLX-U may buy up to an aggregate of 2 million shares of Overture Acquisition’s ordinary shares from third parties before the company’s Extraordinary General Meeting of Shareholders commences. Read more about this company here.
The January Consumer Confidence Index stands at 55.9 vs the expectations for 54 and 53.6 in December. Present situation 25, vs. 20.2 prior, while expectations ticked up to 76.5 from 75.9. Although consumers' short-term outlook is moderately positive, it does not suggest any sharp pickup in activity in the forthcoming months.
According to Reuters, Dynavax (NASDAQ: DVAX) is in talks with partners on SD-101, a Hepatitis C drug. DVAX, which is currently on the lookout for a global marketing partner for SD-10, is also in talks with possible ex-US partners on Heplisav, its Hepatitis B vaccine, Reuters mentioned. The company may announce data from an early state trial of DV-601, a Hepatitis B drug, in mid-2010. Read more about this company here.
Borders (NYSE: BGP) CEO Ron Marshall is quitting after little more than a year on the job. The book retailer has not been able to post a yearend profit since 2006. Read more about this company here.
Barnes & Noble (NYSE: BKS) shares have jumped on rumors that it is providing a bookstore on the yet-to-be-launched tablet computer by Apple (NASDAQ: AAPL). Read more about this company here.
