Loop Capital analyst Cody Acree is keeping his Hold rating and $50 price target on Intel (INTC) ahead of its Q3 results next week. The analyst believes that the company will likely deliver in-line earnings and may even lift its FY19 revenue guidance again after a modest raise last quarter thanks to the strong back-to-school season sales of PCs/notebooks/tablets. Longer term however, Acree contends that Intel's market share may be challenged by AMD's (AMD) new server processors, noting that the latter's new architecture and manufacturing leadership will see a period of share gains eroding Intel's data center business growth.
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Thursday's total option volume of 43.9 million contracts resulted in net open interest growth of 5.26 million calls and 5.69 million puts. Ford (F), Bank of America (BAC), Apple (AAPL) and Advanced Micro (AMD) saw the greatest growth. Top five new positions opened include 60k Pure Storage (PSTG) Mar-20 12.5 puts, 60k Ford (F) Sep-20 5 puts, 59k Ford (F) Sep-20 9 calls, 55k Macy's (M) Mar-20 11 puts and 35k Sally Beauty (SBH) Mar-20 12.5 puts.