Manitowoc (MTW) is seeing some volatility today. The farm and construction machinery co. reported quarterly earnings of 18 cents per share, which beat Street estimates by a nickel. Revenues came up a bit short of expectations. Shares sank in pre-market and hit morning lows of $5.75 before bouncing back to a high of $7.42. MTW was recently up $1 to $6.95 and some players are positioning for more short term gains with May and June 7.5 calls.
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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.