Citigroup believes the probability of Intel (INTC) acquiring Altera (ALTR) is over 50% after press reports stated the two companies are back to the negotiating table. Citi does not believe the deal is done, however, and says even if the merger goes through, it is unlikely to change its Neutral rating on Intel.
Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSSnap (SNAP) up... To see the rest of the story go to thefly.com. See Story Here
Pre-earnings options volume in Intel is normal with calls leading puts 2:1. Implied volatility suggests the market is anticipating a move near 5.6%, or $1.96, after results are released. Median move over the past eight quarters is 7.8%.
Intel (INTC) is scheduled to report results of its fiscal first quarter after the market close on April 25, with a conference call scheduled for 5:00 pm ET. What to watch... To see the rest of the story go to thefly.com. See Story Here