Business & Finance
Business and Finance
Business and Finance
Mon, January 26, 2009
Sat, January 24, 2009
Fri, January 23, 2009 Schaeffer's Street Stories: Bearish Bets Surge on Struggling BB&T Corporation After Earnings
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.
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