Market Insights from Schaeffer's Market Blog: Stocks Featured in the September 12 Edition

Strategic Insights -

Schaeffer's Market Blog, published on September 12, highlighted various stocks, including Fortunet (NASDAQ:FNET), Bank of America (NYSE:BAC), American Eagle Outfitters (NASDAQ:AEOS), Altria Group (NYSE:MO), and General Motors (NYSE:GM). The blog, written by Schaeffer's financial analysts and traders, provides quick insights into the day's most notable market activity from an options perspective. The featured stocks showcased significant price movements and potential opportunities for investors.

Key Takeaways:

  • Fortunet (NASDAQ:FNET) continues to make gains, with the stock adding over 28% and leading the Nasdaq on September 12. The company has won approval from the Nevada State Gaming Control Board to operate mobile gambling devices.
  • Bank of America (NYSE:BAC) acquired HealthLogic Systems to expand its financial services to the healthcare industry. UBS downgraded BAC to "neutral" from "buy" due to concerns about a potential recession.
  • American Eagle Outfitters (NASDAQ:AEOS) has an "extreme" rating on Schaeffer's Equity Scorecard, suggesting a potential bullish pickup. The stock scores 8.0 out of 10, indicating a path of least resistance towards higher prices.
  • Altria Group (NYSE:MO) is showing massive options activity in the September series at the 70, 75, and 80-strike calls, potentially related to dividend-capture strategies. The stock goes ex-dividend on September 13.
  • General Motors (NYSE:GM) hit a 52-week high, climbing to levels last seen in early September 2005. The stock has an "extreme" rating on Schaeffer's Equity Scorecard, scoring 9.0 out of 10, hinting at a potential short-covering rally.

Statistics:

  • Fortunet (NASDAQ:FNET) added over 28% in the previous day and another 14% on September 12.
  • Bank of America (NYSE:BAC) acquired HealthLogic Systems to expand its financial services to the healthcare industry (terms not disclosed).
  • American Eagle Outfitters (NASDAQ:AEOS) has a score of 8.0 out of 10 on Schaeffer's Equity Scorecard.
  • Altria Group (NYSE:MO) traded over 1 million contracts in the September series at the 70, 75, and 80-strike calls on September 12.
  • General Motors (NYSE:GM) climbed to a 52-week high at $33.10, up 4% on September 12.

Sources:

  • Schaeffer's Market Blog (September 12)
  • Schaeffer's Investment Research (www.SchaeffersResearch.com)
  • Schaeffer's Equity Scorecard
  • Zacks (analyst ratings)
  • UBS (research report)
  • Nevada State Gaming Control Board (approval for Fortunet)