Huge Bet on Bank of America, US Airways Faces Depositions, and 3 More Hot Stocks

Bank of America (NYSE:BAC): An order of 50,000 $11 puts on Bank of America has been confirmed as the initiation of a position, according to Steven Sears, noting that this morning’s open interest shows a 50,000 rise to 116,958 contracts. Sears also points out that the stake could be a long position hedging their bet, rather than a bearish position.

BAC

US Airways Group (NYSE:LCC): US Airways’ merger with American Airlines is reportedly under investigation by the Justice Department, which has started to depose people involved. The core issue at hand is whether the airlines should sell take off and landing rights at Reagan National Airport near Washington, as the combined carrier would would have 68 percent of the slots, well above its rivals.

LCC

News Corp. (NASDAQ:NWSA): News Corp. has officially spun off its publishing business and entertainment business on Friday, with the new News Corp. and 21st Century Fox (FOXC) making their trading debuts. The spin off is providing the company a way to try and reinvent itself after a phone hacking scandal crippled the News-owned News of the World, and landed the company with a $139 million compensation settlement.

NWSA

New York Times Co. (NYSE:NYT): Several bids have lined up for the Times’ sale of the Boston Globe, according to sources close to the subject. The Taylor family is one of the parties that might be interested in the Globe, though Steve Taylor, a former executive at the Boston Globe and a member of the Taylor family, did not immediately return with comments. The way the sale itself is executed will be closely watched by Tribune Co., which is considering a sale of The Los Angeles Times and Chicago Tribune.

NYT

Arch Coal Inc (NYSE:ACI): Following a healthy premarket rally, Arch Coal shares are still up after selling its Canyon Fuel Company Utah unit to Bowie Resources, for $435 million in cash. ”The sale of our Utah operations is consistent with our previously announced plan to unlock value for our shareholders by divesting certain non-core thermal coal assets,” the statement read.

ACI

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