Schaeffer's Trading Floor Blog

Stocks On the Move: Achillion Pharmaceuticals, Inc., Nordstrom, Inc., and TASER International, Inc.

ACHN, JWN, and TASR are moving sharply in Friday's trading

by 8/15/2014 12:28 PM
Stocks quoted in this article:

Around midday, three of the top market movers are antiviral developer Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN), department store chain Nordstrom, Inc. (NYSE:JWN), and electronic control device maker TASER International, Inc. (NASDAQ:TASR). Here's a quick roundup of how ACHN, JWN, and TASR are performing on the charts so far.

  • ACHN is soaring on the heels of a successful hepatitis C drug trial and an "outperform" initiation at FBR, up 9.3% to trade at $9.23. In fact, the stock touched a fresh annual high of $9.94 earlier. Achillion Pharmaceuticals, Inc.'s technical tenacity isn't limited to today, either -- the shares are up 178% year-to-date. Additional gains could be on the way, too, should short sellers decide to hit the exits. Currently, 26.6% of ACHN's float is sold short, which would take 6.3 sessions to buy back, at the equity's average daily trading volume.

  • JWN is down 4.1% to hover near $65.87, following a price-target cut to $67 at BMO, and emerging concerns that the retailer's acquisition of Trunk Club will weigh on profits for the new few years. Taking a step back, shares of Nordstrom, Inc. are still sitting a solid 6.5% above breakeven on a year-to-date basis. The brokerage bunch isn't buying in, though. Twelve out of 20 covering analysts give JWN a "hold" or worse recommendation, compared to five "strong buys" and three "buys."

  • TASR has tacked on 7.5% today to trade at $13.66, as the company's body cameras have come into focus due to the situation in Ferguson, Missouri. Nevertheless, the shares remain off nearly 14% in 2014. Meanwhile, TASER International, Inc.'s Schaeffer's put/call open interest ratio (SOIR) of 0.54 ranks in the 87th percentile of its annual range. In other words, short-term traders have rarely preferred puts over calls more strongly, looking back one year.


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