Sprint Nextel (NYSE: S) operates a wireless and wireline network servicing 54 million customers, closed at $19.28.
- The Wall Street Journal reported that S board of directors started a search in August to replace current CEO Gary Forsee.
- Alex Brown says: "We continue to believe that any change in leadership at this point will lead to yet another year or more of attempting to turn the company around."
- S November option implied volatility of 39 is above its 26-week average of 31 according to Track Data, suggesting larger risk.
Sears Holding (NASDAQ: SHLD) closed at $141.40.
- The WSJ says: "Activist investor Ralph Whitworth "has reportedly taken a 5 million-share stake in SHLD, which would amount to 3.5% of the retailer's outstanding shares."
- SHLD November option implied volatility of 38 is above its 26-week average of 31 according to Track Data, suggesting larger risk.
Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
Apple backs AT&T in continuing spat with Verizon
Closing Bell: The recession is still over, still... do you feel it?
Struggling Playboy outsources business ops
