Buyouts and breakups, but stocks are slipping again

After the open… There has been plenty of M&A activity since yesterday's closing bell. It seems like everybody has a deal of some sort in the works. Stocks were up in the pre-market, then traders appear to have gotten spooked by a sudden, precipitous fall in the value of the ruble, and momentum changed entirely. Now all indices are down about 0.2%. Traders still seem very happy with eBay's (EBAY) decision to split off PayPal as a separate company, however.

Here are your Tuesday morning market metrics. Industries doing well today include Building Products, Multi-Utilities and Internet Software. Industries showing weakness include Automobiles, Airlines and Auto Components.

The VIX is up 0.5% to 16.07 after closing on Monday at 15.98. Apple (AAPL) options are seeing high volume, with 23,274 October 110 calls changing hands. These appear to have been initiated as sells. The put-call volume ratio is 1.01, (277,119/279,186). NYSE Adv/Dec 1,039/1,718. Nasdaq Adv/Dec 922/1,193. 

Julian Close has been a business writer since the first day of the twenty-first century, having written for PRA International and the United Nations Department of Peacekeeping. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. He became a stockbroker in 1993, but now works for Fresh Brewed Media and uses his powers only for good. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.

Julian Close

Julian Close

Julian Close became a stockbroker in 1995. In his 20 years of market experience, he has seen all market conditions and written about every aspect of investing. Julian has also written extensively on corporate best practices and even written reports for the United Nations. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.

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