Canadian Solar Inc. (CSIQ), Fossil Group Inc (FOSL), and Juno Therapeutics Inc (JUNO) are slated to report earnings this week
Earnings season is winding down, but there are still a few intriguing names due to report results. Three companies heading into the earnings booth this week are alternative energy issue Canadian Solar Inc. (NASDAQ:CSIQ), fashion accessories firm Fossil Group Inc (NASDAQ:FOSL), and drugmaker Juno Therapeutics Inc (NASDAQ:JUNO). Below, we'll take the pre-earnings temperature of CSIQ, FOSL, and JUNO.
- CSIQ is scheduled to tell all before the open tomorrow, and based on its near-term at-the-money (ATM) straddle, the market is anticipating an 11.4% post-event move. This is actually less than the 13.2% swing the stock has averaged in the aftermath of the company's past eight quarterly reports. Technically speaking, Canadian Solar Inc. is down 1.6% today at $23.20, along with the broader market, and is off about 4% on the year. However, since hitting a two-year low of $14.16 in late August, the stock has bounced by an impressive 64%. Amid this sharp uptrend, betting has grown extremely bullish at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). CSIQ's 10-day call/put volume ratio of 15.98 ranks just 1 percentage point from an annual peak, with nearly 16 calls bought to open for each put.
- Ahead of Thursday night's earnings report for FOSL, short sellers have been very active. In fact, over one-quarter of the stock's float is sold short, and would take roughly two weeks to repurchase, at typical daily trading levels. Speaking of earnings, the market is pricing in a 12.6% post-event move, based on near-term ATM straddle data -- considerably sharper than Fossil Group Inc's average post-earnings, single-session move of 6.9%, looking at the past eight quarters. On the charts, FOSL is down 1.3% at $54.41, and has surrendered half of its value on a year-to-date basis.
- JUNO will step up to the earnings plate tomorrow night, and this time around, a roughly 11% swing is expected in the aftermath. Looking back three quarters, the stock has typically moved a more modest 7.6% in the session after the company reports. Analysts are confident ahead of the event, with 80% doling out "strong buy" ratings, and not a single "sell" opinion on the books. Plus, Juno Therapeutics Inc's consensus 12-month price target of $62 sits in territory not charted since early June -- and represents a nearly 21% premium to its current perch. At last check, JUNO is up 2.7% at $51.30, as it tries to avoid closing below its 20-day moving average for two straight sessions for the first time since late September.