Facebook Inc, Under Armour Inc, and Netflix Inc. Break Out to New Highs

Among the stocks flirting with fresh highs are Facebook Inc (FB), Under Armour Inc (UA), and Netflix, Inc. (NFLX)

Jul 13, 2015 at 2:07 PM
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A number of notable stocks have hit highs today due to buyout buzz, big announcements, bullish brokerage attention, and positive drug data. Three companies we'd like to highlight this afternoon are social network Facebook Inc (NASDAQ:FB), athletic apparel maker Under Armour Inc (NYSE:UA), and streaming content provider Netflix, Inc. (NASDAQ:NFLX).

  • FB is fresh off a record peak of $90.22, and was up 2.2% at last check at $89.99. The stock is surging amid broad-market tailwinds -- and in spite of a price-target cut to $105 from $107 at Pivotal Research. The intraday gains are vindicating the brokerage bunch's confidence in Facebook Inc. An astounding 93% of analysts rate the shares a "buy" or better, and not a single one considers them a "sell." Also, FB's consensus 12-month price target of $97.76 rests in never-before-seen territory.

  • UA topped out at an all-time best of $89.14 -- and remains 3.3% higher at $89.09 -- following an upward price-target revision to $95 from $91 at Cowen. This is just more of the same for a stock that's charged 31% higher in 2015. On the sentiment front, there is plenty of sideline cash available to fuel additional upside for Under Armour Inc. Over 8% of the equity's float is sold short, representing roughly eight days' worth of pent-up buying power, at UA's average trading rate.

  • NFLX is currently 4.6% north of breakeven at $711.99, after tagging a record high of $716.16 earlier. Sparking the surge was a bullish note from Goldman Sachs, which bumped its price target to $780 from $620, citing Netflix, Inc.'s "significant opportunity to expand margins." In options land, short-term bettors have rarely been more call-skewed than they are currently. NFLX's Schaeffer's put/call open interest ratio (SOIR) checks in at 1.03 -- below 86% of comparable readings taken in the last year. Looking ahead, the stock will undergo a 7-for-1 split at tomorrow's close, and report earnings Wednesday evening.


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