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Schaeffer's Street Stories: Bearish Bets Surge on Struggling BB&T Corporation After Earnings


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Published in Business and Finance on , Last Modified on 2009-01-23 13:21:16 by Market Wire   Print publication without navigation


CINCINNATI--([ BUSINESS WIRE ])--BB&T Corporation (NYSE: BBT) attracted heavy put volume on Thursday in the wake of its fourth-quarter earnings report. Traders on the International Securities Exchange (ISE) bought to open 1,939 puts, compared to just 529 calls. BBT's single-day put/call ratio on the ISE arrived at 3.67, as nearly 4 times more puts than calls were purchased.

Elsewhere, analysts are having a more difficult time deciding how they feel about BBT after earnings. So far today, the equity has garnered 3 price-target cuts, along with an upgrade. Friedman, Billings, Ramsey & Co. lowered its price target from $22 to $15 and backed its "underperform" rating, while Bernstein dropped its price target from $35 to $34, and reiterated a "market perform" opinion.

To continue reading this article, click here: [ http://www.schaeffersresearch.com/commentary/content/bearish+bets+surge+on+struggling+bbt+corporation+after+earnings/observations.aspx?click=home&ID=90709 ]


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