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

U.S. stocks are mixed this afternoon, as enthusiasm over this morning's solid gross domestic product (GDP) reading has faded ahead of the Fed's policy announcement. Among the names making notable moves are at-home carbonation purveyor SodaStream International Ltd (NASDAQ:SODA), commodity stock United States Steel Corporation (NYSE:X), and stun-gun specialist TASER International, Inc. (NASDAQ:TASR). Here's a quick look at how SODA, X, and TASR are faring on the charts today.

  • SODA has spiked nearly 12% this afternoon to trade at $33.27, as Wall Street cheers a stronger-than-forecast second-quarter earnings report. It's quite likely we're seeing a short-squeeze rally play out today, as 31.2% of the equity's float is sold short -- representing 6.2 times SODA's average daily trading volume. Despite today's jump, shares of SodaStream International Ltd are still down about 33% year-to-date, and have yet to rise high enough to challenge resistance at their looming 40-day moving average.

  • X is also on the upswing after earnings, rallying almost 20% to trade at $33.18. Earlier in the session, United States Steel Corporation tagged a fresh high of $33.45 -- its best price since August 2011. Like its sector peer AK Steel Holding Corporation (NYSE:AKS), X looks due for some bullish brokerage attention. Currently, only 38% of analysts have deemed the stock worthy of a "buy" rating, and the average 12-month price target of $28.20 is well below today's new high.

  • TASR has vaulted to a gain of 15.5% this afternoon, with the stock riding high in the wake of this morning's second-quarter earnings announcement. Now, shares of TASER International, Inc. are poised to end the day above their 50-day moving average for the first time since April 3 -- but they're still sitting on a year-to-date deficit of more than 16%. Short sellers were targeting TASR ahead of today's earnings news, with the number of shares sold short ramping up by 14.3% during the past two reporting periods. With short interest accounting for 6.8% of the stock's float, it looks like some of the weaker bearish hands are hitting the exits amid today's rally.

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