Apple (NASDAQ: AAPL) Chief Executive Steve Jobs disclosed he has a "more complex" medical condition and would take a leave of absence until the end of June. RBC Capital Markets downgraded AAPL to Underperform. AAPL is recently down $7.30 to $78.03 in pre-open trading. February option implied volatility of 75 is above its 26-week average of 56, according to Track Data, suggesting larger price movement.
Motorola (NYSE: MOT) closed at $4.11. MOT announced job cuts of 4,000 and guided Q4 lower on increasing mobile device unit losses. JPMorgan raised its rating on MOT to Overweight from Neutral. February option implied volatility of 89 is above its 26-week average of 79, according to Track Data, suggesting larger price movement.
Microsoft (NASDAQ: MSFT) closed at $19.09. MSFT is expected to report Q2 EPS on January 22. MSFT February option implied volatility of 57 is above its 26-week average of 45, according to Track Data, suggesting larger price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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