Seagate Seeks to Reduce Share Count and 3 Chip and Big Data Stocks on the Move

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Qualcomm Incorporated (NASDAQ:QCOM) has received an inordinate amount of interest from call players on Monday as roughly 22,000 of the options have been exchanged, a number which is twice its average daily call volume and approximately 2.8 times the number of puts exchanged. A lot of the attention has focused on the February 65 call which saw a huge block of 8,000 contracts cross the tape at the bid price of $1.03, implying that they were sold. In addition, volume surpasses open interest at this out-of-the-money strike which points to sell-to-open activity.

EMC Corporation (NYSE:EMC) saw its Outperform maintained at RBC Capital in a research report sent to investors Monday morning. RBS presently has a $30 price target on the shares.

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Seagate Technology (NASDAQ:STX) has a goal to shrink its share count during the next two years to 250 million from 400 million.

SanDisk Corporation’s (NASDAQ:SNDK) shares were reiterated as a Buy at Sterne Agee in a Monday research note issued to investors. The analyst has a target price of $51 on the stock.

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