Schaeffer's Trading Floor Blog
Stocks quoted in this article:

Analysts are weighing in today on mobile phone maker Nokia Corporation (ADR) (NYSE:NOK), mining issue Randgold Resources Ltd. (ADR) (NASDAQ:GOLD), and restaurateur Buffalo Wild Wings (NASDAQ:BWLD). Here's a quick roundup of today's adjusted brokerage notes.

  • Standard & Poor's lowered its long-term rating on NOK to "B+" from "BB-," and reiterated its short-term "B" rating this morning, on the heels of Tuesday's acquisition news. Nokia Corporation (ADR) has surged roughly 95% on a year-over-year basis to perch at $3.93, yet skepticism is running hot toward the security. Short interest ramped up by 11.3% during the past two reporting periods, and now these pessimistic plays make up a healthy 6.2% of the stock's available float. In fact, it would take nearly 12 sessions to buy back these shorted shares, at the equity's average daily trading volume -- pointing to an ample amount of sideline cash.

  • Despite a year-to-date loss of about 35% to hover at $64.46, GOLD was raised to "neutral" from "reduce" at Nomura in pre-market action, although the broker also cut its price target to 4,370p from 4,650p. Meanwhile, data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows a 10-day call/put volume ratio of 4.09 for Randgold Resources Ltd. (ADR), confirming calls bought to open have more than quadrupled puts during the past two weeks. This ratio is just 9 percentage points shy of a 12-month peak, signaling traders have been snatching up calls over puts at a near annual-high clip.

  • BWLD -- which has gained more than 36% so far this year to perch at $99.39 -- was upgraded to "buy" from "hold," and saw its price target lifted to $117 from $98 at Miller Tabak today. The brokerage firm cited "the combination of lower average wing costs, mid-single-digit comp growth, and lower operating costs" as the catalyst for the adjustment. However, Schaeffer's put/call open interest ratio (SOIR) for Buffalo Wild Wings sits at 1.45, with puts outpacing calls among options expiring in the next three months. This ratio ranks higher than 83% of similar annual readings, conveying short-term traders have rarely been more put-heavy toward the stock during the past year.

permanent link

Partner Center

© 2015 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email:

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by | Data delayed 15-20 minutes unless otherwise indicated.