Micron Technology Inc (NASDAQ:MU) up by 4.65%, Two Harbors Investment Corp (NYSE:TWO)

Posted by Lynn Eisler May 10, 2013 0 Comment 1900 views

Micron Technology, Inc (NASDAQ:MU): In Thursday’s trading session, Micron Technology, Inc (NASDAQ:MU) rose by 4.65%. The opening price was $10.22 per share which rose to an intraday high of $10.75 before dipping down to $10.71 per share in Thursday’s trading session. More than 46.67 million shares were traded over the day while the average volume was much lower and stood at 29 million, measured over a period of 30 days.

Micron Technology, Inc (NASDAQ:MU) is riding in the wake of the current bullish trend that exists in the broader equities markets and the stock has risen 1.7%. Option traders have been taking cognisance if the positive price action and so far, around 35,000 calls have been recorded. This is close to double that of the average intraday volume. In comparison, less than 9,500 puts have been traded. A large percentage of current traders have their sights set on extended long-term gains. This has resulted in quick stock pickup. Most of these calls have been traded at the asking price. This is an indication that there is some buy-to-open activity taking place and that the volatility will increase.

Two Harbors Investment Corp (NYSE:TWO): In Thursday’s trading session, Two Harbors Investment Corp (NYSE:TWO) down by 1.13%. The opening price was $12.29 which rose to an intraday high of $12.31 before dropping down to $12.20 per share in the Thursday trading session. More than 5.31 million shares were traded over the day while the average volume was much lower and stood at 6.98 million. This was measured over a period of 30 days.

In the quarter, the company had recorded a comprehensive income of $248 million which amounted to $0.81 per weight average of diluted share. This is particularly mentionable in light of Two Harbors Investment Corp (NYSE:TWO)’s first-quarter performance since agencies raise the pressure in order to interest rate the little volatility that exists. The comprehensive income was also driven by the non-agency performance. In addition to this, there was a slight impact from depreciation in the Silver bay common stock.

Two Harbors Investment Corp (NYSE:TWO) operates as a REIT- real estate investment trust. The Company focuses on investing, financing as well as managing residential mortgage loans, residential mortgage-backed securities (RMBS), residential real properties, and various other financial assets.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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