Citigroup Inc (C), Blackstone Group LP (BX), and UnitedHealth Group Inc (UNH) are on the move, following earnings
It's been a busy morning on the earnings front, with
financial names in the spotlight for the
second day in a row. Today,
Citigroup Inc (NYSE:C) and
Blackstone Group LP (NYSE:BX) are in focus, while insurance issue
UnitedHealth Group Inc (NYSE:UNH) is also fresh out of the confessional. Here's a look at how each of the companies fared, as well as Wall Street's reaction.
C is fresh off an
earnings beat, sending the shares 1.6% higher to $51.54. However, the stock has struggled to take out the $52 level in recent weeks, and topped out at this mark earlier -- running into its descending 10-week moving average.
Most option traders are probably
hoping C gets rejected by that trendline. During the last 10 weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock has amassed a put/call volume ratio of 0.71 -- just 4 percentage points from a 12-month high.
BX, meanwhile, has tacked on nearly 2% at $34.19, despite the firm's
first quarterly loss since 2011. Specifically, the company's per-share loss of 35 cents was sharper than expected, exacerbated by sagging asset values.
BX's rally may be putting the heat on option bears. The stock's 10-day ISE/CBOE/PHLX put/call volume ratio of 1.17 outstrips more than three-quarters of comparable readings from the past year. In other words, traders have displayed a
stronger-than-usual preference for bearish bets over bullish in recent weeks.
Finally,
UNH's slightly
better-than-expected third-quarter earnings -- and 27% year-over-year surge in revenue -- aren't helping the shares. The stock was last seen 3.8% lower at $117.40, though it remains up over 16% on a year-to-date basis.
Option speculators have been
banking on additional downside, per data from the ISE, CBOE, and PHLX. During the last two weeks, UNH has racked up a put/call volume ratio of 1.55 -- in the 87th percentile of its annual range.