Collective Brands Inc (PSS) $12.35 +9.20%
Collective Brands (PSS, news, chart) is seeing 6 times its normal trading in cautious action ahead of a possible ruling in its $305 million award to Adidas. The stock is trading up 97 cents to $12.28 and 3,735 calls have traded, compared to 414 puts. Sentiment is bearish, however, as most of the day’s call volume seems to be trading bidside. The December 12.5s are the most actives, with 1,500 contracts traded and 99 percent trading on the bid. On July 16, Caris analysts said a judge was to rule on the Adidas suit, which involves PSS paying $31 million in actual damages and $274 million divided from Payless profits and punitive damages, on July 21. The analysts said they expect the judge to lower the award or set it aside completely. On June 27 Collective Brands agreed to pay $30 million to settle trademark infringement brought by K-Swiss.
Category: All Stocks, Retail, Small Cap Stocks
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
