Stocks on the Move: Bed Bath & Beyond, Inc. (BBBY), Cameron International Corporation (CAM), and Deere & Co. (DE)

Stocks on the Move: Bed Bath & Beyond (BBBY), Cameron International (CAM), and Deere & Company (DE)

Jared Levy Senior Derivatives Specialist, www.ONN.tv

Thursday’s "Movers" episode, shot on location at the Chicago Mercantile Exchange (CBOE), covers notable price action in three stocks: Bed Bath & Beyond Inc. (BBBY), Cameron International Corp. (CAM), and Deere & Company (DE).

Bed Bath & Beyond Inc. (BBBY)
The domestics retailer announced first-quarter earnings of 34 cents per share, nine cents better than the consensus view. Revenue was up 2.8% on a year-over-year basis, while comparable-store sales inched 1.6% lower. The shares are up nearly 10% this morning. They were upgraded to "neutral" from "underperform" at Cowen.

The July 31 straddle is trading at $2.45, 7.9% of strike. Last night, the 28 straddle was at $2.88, or 10.2% of strike. The release of earnings has caused implied volatility to contract a bit.

Cameron International Corp. (CAM)
The provider of flow equipment products, systems, and services for the oil industry was upgraded at Goldman Sachs to "buy" with a $42 price target. The brokerage cited greater confidence in the company’s backlog and ability to win new equipment orders. The stock is up nearly 7% in early trading on decent volume.

The July 30 straddle is at $3.25, or 10.8% over strike, down from last night, when the July 25 straddle was trading at $3.30, or 13.2% of strike.

Deere & Company (DE)
Deere was upgraded to "neutral" from "sell" at Goldman, who cited a more balanced risk/reward profile after the stock’s recent sell-off left an 8% margin to the firm’s $42 price target. DE shares are currently trading 3.6% higher.

The July 41 straddle is trading 8.9% over strike, down from 9.25% at last night’s close.

For more breaking news on the options market, stay tuned in to www.ONN.tv. Thanks for watching!