U.S. exchanges are trying for a third straight win, with a slew of Fed officials slated to speak and the latest Federal Open Market Committee (FOMC) meeting minutes on tap. Among the equities in focus are retail giant Target Corporation (NYSE:TGT), computer chip producer Fairchild Semiconductor Intl Inc (NASDAQ:FCS), and China-based mobile Internet provider NQ Mobile Inc (ADR) (NYSE:NQ).
NQ is up 1.8% this morning, last seen trading at $3.89, after agreeing to sell Beijing Tianya Co., Ltd. to Tack Fiori International Group -- a company based in the Cayman Islands and traded in Hong Kong. Beijing Tianya operates NQ Mobile Inc's health applications related business. The positive effect on the shares probably has short sellers sweating, as 12.7% of the stock's available float is currently sold short -- accounting for nearly four weeks of trading, at NQ's typical daily pace. Options traders might be pleased, however, as NQ's Schaeffer's put/call open interest ratio (SOIR) of 0.17 is lower than all but 4% of readings in the past year, indicating that near-term traders are showing an extreme preference for calls over puts.
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