Schaeffer's Trading Floor Blog

Stocks On the Move: Sky-mobi Ltd (ADR), DreamWorks Animation SKG, Inc., and Fabrinet

MOBI, DWA, and FN are moving sharply in Monday's trading

by 8/18/2014 1:50 PM
Stocks quoted in this article:

In afternoon trading, three of today's biggest market movers are Chinese app issue Sky-mobi Ltd (ADR) (NASDAQ:MOBI), movie maker DreamWorks Animation SKG, Inc. (NASDAQ:DWA), and electronics equipment producer Fabrinet (NYSE:FN). Here's a quick roundup of how MOBI, DWA, and FN are performing on the charts so far.

  • MOBI is up 25.2% today to trade at $8.40, after reporting a 32.4% pop in second-quarter revenue. Year-to-date, the shares have more than doubled in value, and today's bullish gap has helped push Sky-mobi Ltd (ADR) through previous congestion in the $7 region. However, the stock is now staring up at the $8.50 mark, which served as a ceiling in late June and early July. Today's move higher may come as a welcome development to option players. The equity's Schaeffer's put/call open interest ratio (SOIR) of 0.21 ranks lower than 82% of similar readings taken in the past year, meaning short-term speculators are more call-heavy than usual toward MOBI.

  • DWA is also putting in a strong performance on the charts today -- up 10.7% to linger near $22.90 -- as traders cheer the company's new chief financial officer. Heading into today's session, the stock was staring down a roughly 42% year-to-date loss, so it's no surprise to see sentiment tilted toward the bearish side. At the ISE, CBOE, and PHLX, for example, the equity's 50-day put/call volume ratio of 2.24 ranks in the 90th percentile of its annual range. Elsewhere, short interest accounts for 14.7% of DreamWorks Animation SKG, Inc.'s available float, and would take more than a week to cover, at the stock's average daily trading levels.

  • Having a decidedly different day is FN, which was last seen off 18% at $14.58 -- and tagged a new 52-week low of $13.57 right out of the gate -- after the company said it has postponed the results of its fourth-quarter and fiscal 2014 earnings reports due to an internal audit. Against this backdrop, trading on FN was temporarily halted on the Big Board, and the stock was quickly sent to the short-sale restricted list. As such, put volume has soared to 97 times the average intraday pace today, extending the recent trend witnessed in Fabrinet's options pits. Specifically, the equity's 50-day ISE/CBOE/PHLX put/call volume ratio of 0.89 ranks in the bearishly skewed 85th annual percentile.

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