SNAP, BA, NVDQ Stocks On the Move Today

BA stock hit its highest perch to date earlier after the company received an onslaught of new orders

by Karee Venema |

Published on Jun 19, 2017 at 3:18 PM

It's a record-setting day on Wall Street, as tech stocks stage a sharp rebound. Among the names making volatile moves are Snapchat parent Snap Inc (NYSE:SNAP), Dow stock Boeing Co (NYSE:BA), and flourescence imaging specialist Novadaq Technologies Inc. (NASDAQ:NVDQ). Here's a quick look at what's moving shares of SNAP, BA, and NDVQ.

Snap Stock Bounces On Time Warner Content Deal

Snap shares skimmed the $17 level in early trading, home to its IPO, before rallying to a nearly 5% lead on news the company has inked a deal with Time Warner to develop original programming for Snapchat. The stock was most recently seen trading up 1.4% at $17.81. SNAP's long-term trajectory remains to the downside -- off 26% from its March 2 open at $24 -- amid increased pressure from short sellers. Since the March 15 reporting period, short interest on Snap stock has more than tripled to a record 65.5 million shares, or 5.6% of its available float.

Boeing Hits New High After Paris Air Show Opening

Boeing stock is fresh off a record high of $199.47 -- last seen trading up 1.3% at $198.92 -- after the aerospace giant launched its newest 737 aircraft iteration and unveiled a slew of new orders at the Paris Air Show. BA shares are now sporting an impressive 27.7% year-to-date advance, best of all Dow stocks. As such, the outperformer seems due for a round of well-deserved upgrades, which could draw more buyers to BA's table, considering six of 14 analysts still maintain a "hold" or worse recommendation.

NVDQ Stock Volume Spikes on Stryker Buyout

Stryker said it will buy Novadaq Technologies in a deal valued at roughly $701 million, or $11.75 per NVDQ share -- nearly double Friday's closing price of $6.05. As such, Novadaq Technologies stock volume has hit a 52-week peak of 23.9 million shares traded, with the security 95.7% higher this afternoon at $11.74. The news is likely catching short sellers off guard, considering a healthy 10% of NVDQ's float is sold short.

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