Quarterly Data Drives TIF, AMWD, and DLTR Higher

Tiffany & Co. (TIF), American Woodmark Corporation (AMWD), and Dollar Tree, Inc. (DLTR) are moving on earnings and sales data

Nov 24, 2015 at 2:43 PM
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A number of noteworthy companies reported earnings this morning, and in most cases, their respective stock prices have responded quite positively. Among the names rallying on quarterly results are jewelry icon Tiffany & Co. (NYSE:TIF), kitchen cabinet king American Woodmark Corporation (NASDAQ:AMWD), and discount retailer Dollar Tree, Inc. (NASDAQ:DLTR). Below, we'll take a closer look at the post-event action on TIF, AMWD, and DLTR.

TIF reported worse-than-expected third-quarter earnings this morning, and also forecast a 5-10% drop in full-year profits, pressured by a stronger dollar. What's more, Credit Suisse lowered its price target by $1 to $81. Nonetheless, at last check, the stock was 4.3% higher at $79.76. Longer term, the shares have plunged over 35% year-to-date, helping to explain option traders' recent penchant for put buying. Specifically, across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX, Tiffany & Co. has amassed a 50-day put/call volume ratio 1.14 -- in the 69th percentile of its annual range. Once again, puts are hot today, running at five times the expected intraday pace, and outstripping calls 13,000 contracts to 9,700.

AMWD has surged an even more impressive 13.4% to flirt with $76.70, after earlier hitting an all-time peak of $76.87. Buoying the shares are the company's fiscal second-quarter earnings beat and expanded stock repurchase authorization. This likely comes as good news to a recent crop of option bulls. During the prior 20 days at the ISE, CBOE, and PHLX, American Woodmark Corporation traders have bought to open 4.25 calls for each put. To put that figure in perspective, the stock's 20-day ISE/CBOE/PHLX call/put volume ratio ended the month of October at 2.13, roughly half the current level.

Rounding out our list of post-earnings gainers is DLTR, last seen 6.3% higher at $73.89 -- bringing the equity into positive year-to-date territory. Earlier, in fact, the shares nearly touched their 200-day moving average for the first time since their late-August bear gap, before pulling back slightly. Adding to the positive momentum, the retailer posted upbeat third-quarter sales, overshadowing an earnings miss. In the options pits, traders have been wagering on continued upside for Dollar Tree, Inc., per its 50-day ISE/CBOE/PHLX call/put volume ratio of 1.99 -- in the top quartile of its annual range. So far today, calls are being exchanged at more than two times the anticipated rate, and also more than double the number of puts on the tape.


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