Stocks quoted in this article:
U.S. stocks are broadly lower this afternoon, as a rising employment cost index suggests the Fed may be forced to hike rates sooner than expected. Additionally, traders are weighing the prospect of a potential Argentine default. Among the names making notable moves are commercial printer VistaPrint Limited (NASDAQ:VPRT), 3-D printer specialist 3D Systems Corporation (NYSE:DDD), and media company World Wrestling Entertainment, Inc. (NYSE:WWE). Here's a quick look at how VPRT, DDD, and WWE are faring on the charts today.
- VPRT has spiked 27.8% today to trade at $48.20, narrowing its year-to-date loss to 15.2%. Last night, VistaPrint Limited crushed Wall Street's quarterly profit and revenue predictions, and the news likely has short sellers rushing to cover. Short interest accounts for nearly 28% of VPRT's float, or 23.4 times the stock's average daily trading volume. Meanwhile, analysts have taken note of the firm's fundamental outperformance. Earlier in the session, Jefferies upped its price target to $51 from $49, while Topeka Capital lifted its target to $50. Today's rally has propelled VPRT north of its 80-day moving average for the first time since late April, but the stock's positive momentum fizzled out around the $49 level -- which is home to its formerly supportive 320-day trendline.
- DDD is off more than 10% to $50.32, widening its 2014 loss to roughly 46%. Traders are responding to a second-quarter earnings miss, with CEO Avi Reichental noting that "transitional forces temporarily pressured our gross profit margin." Following the profit miss, J.P. Morgan Securities lowered its price target on 3D Systems Corporation to $49 from $54.50. Additional target cuts could be on the horizon for DDD, as the equity's average 12-month price target of $66.13 is an ambitious 31.4% north of its current perch.
- WWE is up 3.7% on the day in the wake of a slimmer-than-forecast quarterly loss. The shares peaked at $13.40 earlier in the session, but WWE has since pared its gains to trade at $12.54 -- which suggests short-term resistance here isn't giving way just yet. The $13 level has rejected multiple rally attempts by World Wrestling Entertainment, Inc. since July 17. However, a capitulation by some of the weaker bearish hands could help WWE continue to challenge this technical ceiling, as a hefty 22% of the security's float is sold short.