Schaeffer's Trading Floor Blog

Stocks to Watch Thursday: Target Corporation, 3D Systems Corporation, and Angie's List Inc

Analyzing TGT, DDD, and ANGI ahead of tomorrow's trading

by 2/5/2014 5:04 PM
Stocks quoted in this article:

Momentum names that made notable moves on Wednesday and could continue to do so into Thursday's session include retailer Target Corporation (NYSE:TGT), printing solutions specialist 3D Systems Corporation (NYSE:DDD), and business referral site Angie's List Inc (NASDAQ:ANGI) . Here is a quick look at these stocks ahead of tomorrow's opening bell.

Target Corporation (NYSE:TGT)

Target's technical struggles continued in today's session, during which the stock dropped below the $55 level for the first time since May 2012. At the closing bell, the equity stood at $55.07, marking a year-to-date loss of 13%. Regardless, TGT's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 3.59 is just 1 percentage point short of a 12-month peak, indicating speculators have bought to open calls over puts on the struggling stock at a near-annual-high rate recently. This trend was evident in today's options pits, where call volume nearly doubled its average daily amount and almost quadrupled the number of puts exchanged.

3D Systems Corporation (NYSE:DDD)

3D Systems landed on the short-sale restricted (SSR) list, as the shares plunged 15.4% to close at $64.10, in the wake of the company's gloomy preliminary fourth-quarter earnings results. (The company will announce the final report ahead of the market's open on Friday, Feb. 28.) Subsequently, DDD's total options volume jumped to 161,000, which is equivalent to more than four times the average daily pace. In particular, speculators went after the weekly 2/7 series of options, which accounted for five of the day's 10 most active strikes.

Angie's List Inc (NASDAQ:ANGI)

Angie's List fell 8.7% today to close at $17.22, after being hit with a downgrade to "neutral" from "buy" at BofA-Merrill Lynch this morning. This negative price action represents a change of pace for ANGI shares, which boast a lofty one-month gain of 29%. As such, Angie's List made its way to the SSR list, drawing significant attention from put players. By the end of the session, puts outnumbered calls by a margin of roughly 2-to-1, with these options making up six of the eight most active strikes of the day.


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