In the report, Reynolds noted, “Following ABB's acquisition announcement for PWER of $6.35/share, we are downgrading to Hold from

ABB to Acquire Power-One for $6.35/Share in Cash

The Deal:ABB (NYSE: ABB) and Power-One (NASDAQ: PWER) announced Monday that their boards of directors have agreed to a transaction in which

Today’s tickers: MSFT, GILD & PWER

MSFT - Microsoft Corp. – Reporting from CNBC’s David Faber this morning that activist fund ValueAct Capital Management LLC has acquired a $2 billion stake in Microsoft Corp. lifted shares in the world’s largest software maker today, with the stock up 3.5% at $30.80 as of 12:10 p.m. ET. Options volume on MSFT is fast approaching the stock’s average daily level, with roughly 210,000 contracts in play as of midday. Fresh interest in weekly call and put options suggests some traders are positioning for the price of the underlying to extend gains in the near term, while others are betting the shares will lose steam by the end of the week. The April 26 ’13 $31 strike is seeing the most volume among the weekly contracts, with around 6,000 calls and roughly 8,000 puts traded so far. Bullish strategists appear to have purchased most of the calls for an average premium of $0.25 each, and may profit at expiration in the event that MSFT’s shares top $31.25. Meanwhile, traders bracing for shares to reverse course snapped up around 6,000 of the $31 strike puts at an average premium of $0.35 apiece. Put buyers make money as long as the price of the underlying settles below the breakeven point at $30.65 by expiration. Overall trading traffic is favoring puts over calls as of the time of this writing, with the call/put ratio hovering around 2.6 as of 12:15 p.m. ET.

GILD - Gilead Sciences, Inc. – Upside call options are changing hands on Gilead Sciences today, with shares in the biotechnology company rising as much as 1.9% to a new 52-week high of $54.20 during the first half of the session. Trading traffic in the weekly options on Gilead suggests some traders anticipate fresh highs leading up to the firm’s first-quarter earnings report on May 2nd after the closing bell. The April 26 ’13 $55 strike calls are seeing the most volume, with upwards of 2,800 contracts changing hands versus open interest of…

Index Technicals: For technicals on the major indices today, the S&P looks poised to bounce off its 1515 support and head

Index Technicals: For technicals on the major indices today, the S&P looks poised to bounce off its 1515 support and head to 1524

Index Technicals: For technicals on the major indices today, the S&P looks poised to bounce off its 1515 support and head to

Deutsche Bank initiated coverage on shares of Tesaro (NASDAQ: TSRO) with a “buy”

Jefferies noted, “The company preannounced 4Q12 rev of $190-195M vs. prev $210-230M and a $12-15M loss. Margin pressure was surprising, and we believe

Top Headline Boeing (NYSE: BA) shares took a hit after the market close Wednesday when further problems with its 787