Schaeffer's Trading Floor Blog

Stocks On the Move: Trulia Inc, El Pollo Loco Holdings Inc, and First Solar, Inc.

TRLA, LOCO, and FSLR are moving sharply in Monday's trading

by 7/28/2014 1:42 PM
Stocks quoted in this article:

U.S. stocks are trading south of breakeven this afternoon, though they've pared the worst of their pre-market losses and are fighting back toward the breakeven line. Among the names making notable moves are real estate site Trulia Inc (NYSE:TRLA), chicken chain El Pollo Loco Holdings Inc (NASDAQ:LOCO), and alternative energy name First Solar, Inc. (NASDAQ:FSLR). Here's a quick look at how TRLA, LOCO, and FSLR are faring on the charts today.

  • TRLA has spiked 17.2% to $66.05, with traders responding to a buyout bid from Zillow, Inc. (NASDAQ:Z) that's expected to close in early 2015. Earlier in the session, TRLA tagged a new all-time high of $66.68, while the bid from Zillow values the stock at about $70.53 per share. Today's M&A news likely caught Trulia Inc bears off-guard; currently, short interest accounts for 38.6% of the stock's float, or 10.7 times its average daily trading volume.

  • Wall Street newcomer LOCO has spiked 29.6% to trade at $31.15 this afternoon, down from a record high of $32.82 earlier in the day. California-based El Pollo Loco Holdings Inc made its public trading debut last Friday, with the stock opening at $19 per share -- well above LOCO's initial public offering (IPO) price of $15 per share.

  • FSLR has jumped 3.5% to trade at $66.28, boosted by a deal to supply XSOL Co. with 100 megawatts of solar modules annually for projects in the Japanese market. Shares of First Solar, Inc. have already rallied more than 21% so far in 2014, but most analysts remain skeptical. Among 13 brokerage firms tracking FSLR, only 38% have deemed the stock worthy of a "buy" rating.

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