Schaeffer's Trading Floor Blog

Stocks On the Move: Mattel, Inc., Qiwi PLC, and Select Comfort Corp.

MAT, QIWI, and SCSS are moving sharply in Thursday's trading

by 7/17/2014 2:05 PM
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In afternoon trading, three of the top market movers are Barbie parent Mattel, Inc. (NASDAQ:MAT), payment services provider Qiwi PLC (NASDAQ:QIWI), and mattress expert Select Comfort Corp. (NASDAQ:SCSS). Here's a quick roundup of how this trio of names is performing on the charts so far.

  • MAT has fallen 6.6% this afternoon to trade at $36.45, on the heels of this morning's second-quarter earnings miss. Today's losses only add to Mattel, Inc.'s 2014 turmoil, as the shares are down more than 23% year-to-date. Nevertheless, traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have displayed optimism toward the stock in recent months. The equity's 50-day call/put volume ratio across this trio of exchanges checks in at 1.73 -- higher than 94% of comparable readings from the past year. Should MAT continue to stumble, a capitulation among option bulls could result in headwinds.

  • QIWI is in even worse shape than MAT today, down 8.6% at $40.65 amid fresh geopolitical tensions for Russia. However, the shares are testing support at their 50-day moving average and the $40 level. Today's pullback aside, Qiwi PLC has outperformed the market for some time -- besting the broader S&P 500 Index (SPX) by 30 percentage points during the past three months. Not surprisingly, the brokerage bunch is bullish. Three analysts rate the stock a "strong buy" (compared to just one "hold" and not a single "sell"), and QIWI's consensus 12-month price target rests at a lofty $54.60. If the stock fails to resume its longer-term uptrend, though, the shares could suffer from a round of downgrades and/or price-target reductions.

  • Unlike the previous pair of names, SCSS has rallied to the tune of an 8.1% gain, and currently hovers at $20.52. Sparking the upward move was last night's second-quarter earnings beat. Longer-term, however, Select Comfort Corp. has struggled on the charts, down nearly 23% year-over-year. As such, short sellers have flocked to the equity, with 7.8% of its float sold short (which would take more than two weeks to cover, at the stock's average daily trading volume). In fact, it's possible some of today's gains are the result of short sellers covering their bearish bets, following SCSS' positive fundamental news.

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