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This morning conglomerate Tyco International (TYC - 46.15) reported second-quarter earnings of 65 cents per share. The consensus estimate was for the company to post profits of 61 cents per share.
The stock has added nearly 15 percent from its 52-week low logged earlier this month, in front of the report. From a longer-term technical perspective, the stock may find resistance from its overhead 20-month moving average, which stands at approximately 49.
In yesterday's trading, the out-of-the-money April 47-1/2 call was active. The option saw over 6,100 contracts change hands yesterday. Open interest rose by nearly 4,900 contracts in response