Stocks quoted in this article:
As the week kicks off with promising euro-zone news and some strong results on the earnings front, the major indexes are enjoying a session in the green today. Even so, a handful of equities have ventured off the beaten path to seek out new annual lows. Presently, the New York Stock Exchange (NYSE) has just eight stocks at new bottoms, while the Nasdaq shows 20 at fresh new lows. Among the stocks tagging 52-week lows in today's session are Tyson Foods, Inc. (NYSE:TSN - 14.60) and Molycorp, Inc. (NYSE:MCP - 11.88).
- Shares of TSN have lost about 5% today to touch a new low of $14.50 -- extending their year-to-date decline to more than 29% -- after the company fell short of analysts' quarterly earnings projections, and downwardly revised its fiscal-year guidance. Not surprisingly, puts on the poultry processor have trumped calls lately, as traders on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have bought to open 130 puts for every 100 calls during the past two weeks. This ratio of 1.30 arrives in the 80th percentile of its annual range, implying that speculators were scooping up puts over calls at a faster-than-usual pace ahead of TSN's quarterly report.
- After a weaker-than-expected earnings report prompted a few bearish brokerage notes on Friday, MCP is still trekking lower today, falling to a new bottom of $11.22. Over the past year, the stock has shed about 78%, and has trailed the broader S&P 500 Index (SPX) by roughly 56% during the past 60 sessions. As traders respond to this underperformance, the equity has racked up a Schaeffer's put/call open interest ratio (SOIR) of 0.87, which ranks in the 90th annual percentile. In other words, short-term options players have been more bearishly aligned toward the stock just 10% of the time during the last 12 months.
Keep reading to see what was on today's new highs list.