Align Technology Inc. (ALGN) yesterday reported financial results for the third quarter of fiscal 2009. Earnings per share were 13 cents, surpassing the Zacks Consensus Estimate of 5 cents and the year-ago earnings of 11 cents. Net Sales Net sales increased 5.4% year over year to $79.3 million. Growth was driven by higher case shipments in [...]

(ALGN) Align Technology Report Tops Estimates

Align Technology, Inc. (ALGN) faces another lawsuit after settling a long-pending litigation with Ormco Corporation, a subsidiary of Danaher Corporation (DHR). The new litigation is concerned with the company’s operations way back in the third quarter of 2007. The class action lawsuit was filed by the Law Offices of Howard G. Smith, on behalf of [...]

(ALGN) Align Technology Faces Class Action Lawsuit

Align Technology, Inc. (ALGN) has settled all pending litigations and begun a new strategic collaboration with Ormco Corporation, a subsidiary of Danaher Corporation (DHR). Shares of Align reacted positively to this news with the price increasing roughly 28% to close at $13.00 on August 17. It has traded above the $13 level almost the entire [...]

(ALGN) Align Settles Litigation – new strategic collaboration with Ormco

Today’s tickers: COG, HPQ, ALGN, VIX, WLP, UNH, CVX, & OIH

COGThe oil and gas company appeared on our ‘hot by options volume’ market scanner after a ratio call spread was established in the September contract. Broad market declines did not spare COG today as shares fell nearly 4% to stand to the current price of $33.75. The bullish investor responsible for the spread looked to the deep in-the-money September 30 strike price to purchase 3,000 calls for an average premium of 4.15 apiece. The long calls were marked against the short sale of 6,000 calls at the higher September 35 strike for 1.15 per contract. Thus, the net cost of the spread amounts to 1.85 and yields maximum potential profits of 3.15 if COG rallies up to $35.00 by expiration next month. The investor has already realized profits on the transaction because shares are currently higher than the breakeven point at $31.85. But, the ratio of 2 short calls for each long call leaves the trader vulnerable to potentially unlimited losses in the event that shares of COG surge higher than $38.15 by expiration. – Cabot Oil & Gas Corp. –

HPQThe global technology company has experienced a more than 1.5% decline in shares today to $43.26 ahead of its third-quarter earnings release, which is scheduled to follow the closing bell on Tuesday afternoon. At least one investor was seen bracing for bad news or at least for continued declines in the price of the underlying. The trader established a ratio put position by purchasing 5,000 puts at the August 42.5 strike for approximately 89 cents apiece, spread against the sale of 10,000 puts at the lower August 40 strike for 25 cents per contract. The net cost of the bearish transaction amounts to 39 cents and yields maximum potential profits of 2.11 if the stock slips to $40.00 by expiration this Friday. Shares must fall about 3% from the current price in order for the trader to begin to amass profits beneath the breakeven point at $42.11. Maximum profits of $1,055,000 will be retained by the investor if the stock falls to $40.00 and the lower strike puts remain out-of-the-money. If shares were to slip lower than $40.00, the trader may have shares of the underlying put to him at expiration given the ratio of 2 short put options to each long contract in his possession. Investor uncertainty has marched steadily…

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