Speed Commerce, Inc. SPDC
We tagged SPDC for observation in our premarket report on Friday, and what has followed is two consecutive days of upward momentum.
We observed a low of .018 on Friday morning, and a subsequent high of .0289 for an intraday gain of 61% Then yesterday the stock traded in a range from .0289 to .041, for a 42% intraday rip. All told, SPDC made an total session-over-session swing of 128% since we began tracking the stock.
We’ll continue to do so for the time being- the recovery off of recently recorded annual lows has been rapid, as can be seen on the following chart snapshot. A return to PPS-levels of just a few weeks ago would mean significant gains from the current price, so we’ll have our eyes peeled for the possibility of a continued uptrend.
Fresh Options Ideas
After poring over the earnings calendar from post-market yesterday and this morning, we came across a pair of interesting plays for which we’ll formulate a couple of correlated options ideas.
FirstMerit Corp. FMER
Despite an earnings miss this morning, FMER is flying in premarket trading on concurrent news of a $3.4B buyout/merger with Huntington Bancshares in a deal that will effectively create the state of Ohio’s largest regional bank. We’re going to tag the FMER 02/19 $17.50 and $20 Calls for potential dip-and-rip scenarios.
- Huntington Bancshares to Strengthen Midwest Franchise With Financially and Strategically Accretive Merger With FirstMerit Corporation (Tue 12:09AM EST)
Rambus, Inc. RMBS
Regarding RMBS, we’re seeing a classic earnings-beat gap up to the tune of 7% in early trading today. Better than expected figures were released post-market yesterday, so we’ll be tracking a set of contracts here as well. Specifically, the RMBS 02/19 $12 Calls.
- Rambus posts 4Q profit (Mon, Jan 25)
AEZS, AMBS, SBFM, PGSY, BVAP, VRCI,