Morning Commentary: Citrix trading actively again; Macquarie adds; Blackstone trades at 108.5

By Rebecca Melvin

New York, July 15 – Citrix Systems Inc. was trading actively again among U.S. convertibles early Tuesday, with shares of the Fort Lauderdale, Fla.-based cloud computing company remaining strong.

“I don’t know why, but it’s trading lots,” a New York-based trader said.

Citrix’s 0.5% convertibles due 2019 were quoted at 106.25 bid, 106.75 offered with the underlying shares at $63.95. That was near the high end of where shares were trading Tuesday and compared with 106.125 bid, 106.5 offered versus an underlying share price of $62.94 at the end of Friday.

Macquarie Infrastructure Co. LLC’s 2.875% convertibles, which have also accounted for a large chunk of volume in the last several days, changed hands at 107.375 early Tuesday, compared to 107 late Monday. Macquarie shares slipped lower early Tuesday.

Exelixis Inc.’s 4.25% convertibles due 2019 remained quiet early Tuesday, a Connecticut-based trader said, despite movement in the shares of the South San Francisco, Calif.-based biotechnology company lower following a 23% pop on Tuesday on positive drug data.

Meanwhile, Blackstone Mortgage Trust Inc.’s 5.25% convertibles due 2018 made an appearance in trading Tuesday, with those bonds crossing Trace data at 108.5, which was down 0.5 point from their previous level. Shares of the New York-based real estate financial company were down 0.6% last at $28.90.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.