Earnings Season Highlights

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A collection of noteworthy post-earnings reactions

Published on Mar 8, 2022 at 11:09 AM

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What Does Walgreens Stock Have to Offer as Earnings Loom?

by Schaeffer's Digital Content Team

Published on Mar 8, 2022 at 10:52 AM

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Call Traders Target Rising Shell Stock

by Laura McCandless

So far, 17,000 calls have crossed the tape -- five times the intraday average -- in comparison to 2,122 puts. The March 55 call is by far the most popular, followed by the weekly 3/11 52-strike call.

Published on Mar 8, 2022 at 10:33 AM

Intraday Option Activity
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Alphabet Announces $5.4 Billion Cybersecurity Firm Buyout

by Fernanda Horner

Published on Mar 8, 2022 at 9:56 AM

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Apple Stock Muted Ahead of 1st Product Launch of 2022

by Jake Scott

Published on Mar 8, 2022 at 9:48 AM

Analyst Update

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Broadcasting Stock Gets Boost After UBS Dishes Out Bull Note

by Lillian Currens

Broadcasting concern DISH Network Corp (NASDAQ:DISH) is up 4.9% at $30.91 this morning, following an upgrade from UBS to "buy" from "neutral." The analyst called DISH "undervalued," noting its next-generation, cloud-based 5G network has some good long-term growth potential. The firm in question maintains a price target of $44.

UBS joins a bullish brokerage bunch. Heading into today, seven called DISH a "strong buy," compared to three "hold" ratings. Plus, the 12-month consensus price target of $45.60 is a 54.7% premium to last night's close.

Short interest has also been on the rise, however, up 6% in the most recent reporting period. The 25.18 million shares sold short make up a hefty 10.1% of the stock's available float, and would take over eight days to cover, at its average daily pace of trading.

The stock has lost roughly 9% this year, with a notable bounce off its Feb. 24 annual low of $25.84 rejected by the 80-day moving average. This trendline also acted as a ceiling during a mid-January breakout on the chart. On the flip side, DISH seems to have found a floor near the $28 level, which has captured several pullback since December 2020.

Published on Mar 8, 2022 at 7:51 AM

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Today's Stock Market News & Events: 3/8/2022

by Schaeffer's Digital Content Team

Today the NFIB small-business index, data on the foreign trade deficit, and wholesale inventories are slated for release.

The following public company is slated to release corporate earnings today, March 8:

Desktop Metal Inc. (NYSE:DM -- $3.54) manufactures and sells additive manufacturing solutions for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. Desktop Metal will report its Q4 earnings of 2021 before the open today.

DICK's Sporting Goods Inc. (NYSE:DKS -- $99.50) operates as a sporting goods retailer primarily in the eastern United States. DICK's Sporting Goods will report its Q4 earnings of 2021 before the open today.

Olaplex Holdings Inc. (NASDAQ:OLPX -- $14.06) manufactures and sells hair care products. Olaplex will report its Q4 earnings of 2021 before the open today.

Petco Health and Wellness Co. Inc. (NASDAQ:WOOF -- $17.69) operates as a retailer of premium pet consumables, supplies, and companion animals and services. Petco Health and Wellness will report its Q4 earnings of 2021 before the open today.

Stevanato Group S.p.A. (NYSE:STVN -- $15.91) engages in the design, production, and distribution of products and systems to provide integrated solutions for pharma and healthcare. Stevanato Group will report its Q4 earnings of 2021 before the open today.

ABM Industries Inc. (NYSE:ABM -- $45.49) provides integrated facility solutions in the United States and internationally. ABM Industries will report its Q4 earnings of 2021 after the close today.

Bumble Inc. (NASDAQ:BMBL -- $16.23) provides online dating and social networking platforms in North America, Europe, internationally. Bumble will report its Q4 earnings of 2021 after the close today.

Casey's General Stores Inc. (NASDAQ:CASY -- $177.58) operates convenience stores under the Casey's and Casey's General Store names. Casey's General Stores will report its Q4 earnings of 2021 after the close today.

Cricut Inc. (NASDAQ:CRCT -- $14.01) designs and markets a creativity platform that enables users to turn ideas into professional-looking handmade goods in the United States, Europe, and internationally. Cricut will report its Q4 earnings of 2021 after the close today.

DoubleVerify Holdings Inc. (NYSE:DV -- $23.70) provides a software platform for digital media measurement, data, and analytics in the United States and internationally. DoubleVerify will report its Q4 earnings of 2021 after the close today.

FIGS Inc. (NYSE:FIGS -- $13.56) operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States. FIGS will report its Q4 earnings of 2021 after the close today.

Guidewire Software Inc. (NYSE:GWRE -- $88.66) provides software products for property and casualty insurers worldwide. Guidewire Software will report its Q4 earnings of 2021 after the close today.

MongoDB Inc. (NASDAQ:MDB -- $279.98) provides general purpose database platform worldwide. MongoDB will report its Q4 earnings of 2021 after the close today.

Stitch Fix Inc. (NASDAQ:SFIX -- $10.55) sells a range of apparel, shoes, and accessories through its Website and mobile application in the United States. Stitch Fix will report its Q4 earnings of 2021 after the close today.

Sumo Logic Inc. (NASDAQ:SUMO -- $10.79) provides cloud-native software-as-a-service platform that enables organizations to address the challenges and opportunities presented by digital transformation, modern applications, and cloud computing worldwide. Sumo Logic will report its Q4 earnings of 2021 after the close today.

W&T Offshore Inc. (NYSE:WTI -- $6.22) engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. W&T Offshore will report its Q4 earnings of 2021 after the close today.

Yext Inc. (NYSE:YEXT -- $6.00) organizes business facts to provide answers to consumer questions in North America and internationally. Yext will report its Q4 earnings of 2021 after the close today.

Looking ahead to tomorrow, job openings and quits are on tap for Wednesday.

All economic dates listed here are tentative and subject to change.

Published on Mar 7, 2022 at 2:49 PM

Updated on Mar 7, 2022 at 4:49 PM

Quantitative Analysis

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Analyst: Don't Sweat This Insurance Stock's Pullback

by Fernanda Horner

Published on Mar 7, 2022 at 3:32 PM

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Cannabis Sector Kicks Off March With a Blast of Q4 Earnings

by Schaeffer's Digital Content Team

Welcome back to our weekly series, Schaeffer's Cannabis Stock News Update, where we recap what happened in the world of marijuana stocks, and look at how the cannabis industry is evolving as we make our way through 2022.

The world of cannabis saw massive growth in 2021 and 18 states plus D.C. officially legalized the adult-use of cannabis by the end of the year. Thirty-one states plus D.C. had taken decriminalization measures regarding cannabis by the end of 2021. As of late 2021, marijuana is classified at the U.S. federal level as a Schedule I substance under the Controlled Substances Act. In other words, cultivating, distributing, and possessing cannabis remains illegal at the federal level.

In addition, here is a quick summary of the major (and action-worthy!) cannabis stock news from this week:

Village Farms International, Inc. (NASDAQ:VFF) released its fourth quarter of 2021 financial results on Tuesday, March 1. According to Village Farms' CEO, "In the fourth quarter, we once again saw strong year-over-year growth in sales and adjusted EBITDA, with positive adjusted EBITDA contributions from each of our Canadian Cannabis, US Cannabis and Village Farms Fresh (produce) businesses for the second consecutive quarter."

Cronos Group Inc. (NASDAQ:CRON) also released fourth quarter of 2021 financial results on March 1. Per Cronos Group's CEO, "Our fourth quarter 2021 results indicate positive momentum, which we will look to carry forward as we begin to implement our strategic and operational realignment initiatives. As we look to 2022, we will continue to realign Cronos Group's organizational structure to match our strategy, with a primary focus on adult-use products and elevating our brands through rare cannabinoids.”

The Valens Company Inc. (NASDAQ:VLNS) released fourth quarter of 2021 financial results on Tuesday. According to Valens' CEO, "This quarter showcases the progress we have made in our business plan in key areas despite a competitive and challenging operating environment in Canada and globally. Net revenue slightly declined quarter-over-quarter, as we completed the transition of our B2B business to align with the 'fewer, bigger, better' strategy and was negatively impacted by the floods in British Columbia which resulted in supply chain disruptions. However, in our two key revenue segments, we are very pleased with the industry leading growth in provincial sales revenue and the full quarter revenue generated by our Green Roads US CBD business. With the B2B transition largely behind us, we expect to have more sustained growth in 2022."

Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) released fourth quarter of 2021 financial results on Tuesday, March 1. Per Zynerba's CEO, “In 2022, we look to build on last year’s progress as we continue to enroll patients in our confirmatory pivotal Phase 3 trial in Fragile X syndrome, initiate a Phase 3 program in autism spectrum disorder and report topline results in our Phase 2 trial in 22q11.2 deletion syndrome. We are committed to achieving our goal of bringing the first pharmaceutical product indicated for the treatment of behavioral symptoms of Fragile X syndrome to market, as well as advancing Zygel in other rare and near rare neuropsychiatric indications.”

On Tuesday, Organigram Holdings Inc. (NASDAQ:OGI) announced that it had received an investment from BAT of $6.3 million CAD, increasing BAT's equity position in Organigram up to 19.5%.

GrowGeneration Corp. (NASDAQ:GRWG) released fourth quarter of 2021 financial results on Tuesday, March 1. Revenues increase nearly $30 million year-over-year in Q4 and over $200 million year-over-year compared to 2020. According to GrowGen's CEO, "In order to position the company for 2022 and beyond, we have made several strategic decisions to drive margin improvements and EBITDA. As of Dec. 31, 2021 our balance sheet remains strong with $81 million of available liquidity. Given our view of the business today and the continued challenges across the US market, we expect to generate full year revenue of $415 to $445 million in 2022."

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) released fourth quarter of 2021 financial results on Tuesday. HYFM reported a 26% jump in net sales in Q4 of 2021 compared to Q4 of 2020. For the full year of 2021, Hydrofarm holding reported a 40% increase in net sales compared to 2020. Per HYFM's CEO, in late 2021 and early 2022 we acted on several margin enhancing initiatives to reduce costs and mitigate inflationary pressures, including increasing prices where appropriate, as well as right-sizing our headcount as we have begun realizing synergies from our 2021 acquisitions. Together with our unique position as a leading ‘picks and shovels' supplier to the CEA industry and a strong balance sheet that can support future growth, we remain excited about our prospects in 2022 and beyond."

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) released its fourth quarter of 2021 financial results on Tuesday. According to Jazz's CEO, "2021 was a transformative year for Jazz, delivering over $3 billion in revenue for the first time. Our talented team achieved our goal of five key launches through 2020 and 2021, delivering innovative medicines to patients in critical need. We also acquired and integrated GW Pharmaceuticals, which expanded our commercial portfolio with Epidiolex®, enhanced our R&D capabilities and talent, and added the industry-leading GW cannabinoid platform.

On Wednesday, Clever Leaves Holdings Inc. (NASDAQ:CLVR) confirmed that it had signed an internationall sales agreement with Foliumed and subsidiary Fidelio for a period of one year. Through Clever Leaves providing this German cannabis company with product, Fidelio will be able to speed up production. According to CLVR's CEO, “Leveraging our Colombian operation to build and maintain relationships throughout the cannabinoid and pharmaceutical industry is incredibly important to us."

Vessel, a brand under the Flora Growth Corp. (NASDAQ:FLGC), confirmed the execution of a distribution agreement with JustCBD's Speedy to launch cash-and-carry distribution centers. This will be Vessel's first step into traditional smoke shop channels and Vessel plans to create new products specifically for this distribution arrangement. According to JustCBD CEO, “The Vessel team designs excellent customer experiences, and whether through e-commerce or traditional wholesale, the products are always well received by customers. We see this agreement as the first of many where we leverage JustCBD’s existing distribution network and Flora’s diverse product portfolio to amplify growth for our combined Company.”

Manitoba Harvest, a wholly-owned subsidiary of cannabis brand Tilray Brands, Inc. (NASDAQ:TLRY), plans to release its brand new hemp products at the upcoming Natural Products Expo West. According to the VP of Marketing at Manitoba Harvest, “Hemp has been one of the most misunderstood plants for decades, and we’re thrilled to see consumers beginning to understand its nutritional value. These new items take full advantage of Hemp’s Protein and Omega content and will be a perfect option for consumers looking to enhance their wellness routine."

Clever Leaves Holdings Inc. (NASDAQ:CLVR) confirmed it had signed a 4-year and $7.8 million supply agreement with Australian Natural Therapeutics Group (ANTG). According to the terms of the agreement, CLVR will provide CBD isolate and THC crude oil from Colombia as well as THC dried flower from Portugal. According to Clever Leaves' CEO, “Australia is a rapidly expanding market, and increasing product shipments to the country allows Clever Leaves to accelerate market growth further. ANTG’s research focus, pharmaceutical certifications and distribution capabilities are aligned with our mission to produce high-quality cannabinoid-based medicinal treatments that can meet patient needs.”

*NEW CANNABIS AND PSYCHEDELICS STOCK ALERT* Incannex Healthcare Limited (NASDAQ:IXHL) began trading at the opening bell on Monday, March 1, on the Nasdaq Global Market. According to Incannex CEO, "The ringing of the closing bell to commemorate the listing of our ADSs was a milestone for Incannex, as we advance our pipeline of novel synthetic cannabinoid and psychedelic agents through the clinic. Listing on Nasdaq will help increase our visibility with international investors and clinical research facilities. We look forward to continuing our strategy of pursuing U.S. Food and Drug Administration approval for all of our therapies and to bringing these innovative medicines to patients in need."

Published on Mar 7, 2022 at 3:16 PM

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Analog Devices Moves Forward with European Expansion Plans

by Schaeffer's Digital Content Team

Published on Mar 7, 2022 at 2:08 PM

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This Small-Cap Stock Has Big-Time Risk Ahead of Earnings

by Schaeffer's Digital Content Team

Published on Mar 7, 2022 at 1:15 PM

Earnings Preview

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Can Earnings Help This Sporting Goods Stock Recover?

by Jake Scott

Dick's Sporting Goods Inc (NYSE:DKS) stock was last seen down 5.7% to trade at $103.46 this afternoon, and adding to its nearly 10% year-to-date deficit. Today's negative price action has Dick's Sporting Goods stock extending its mark below the formerly supportive 200-day moving average. And while February saw DKS lock in its worst month since September, the company will report fourth-quarter financial results before the open tomorrow, March 8, inspiring confidence that the shares could be on the mend soon.

DKS Chart March 7

Looking at Dick's Sporting Goods stock's earnings history, the shares have moved higher in six out of the last eight post-earnings sessions, going back two years. The shares averaged an 8% pop the day after earnings, regardless of direction. This time around, the options market is pricing in a much larger 18.8% move for tomorrow's trading. A move of the latter's magnitude would put the shares back on track to reclaiming their Nov. 22 all-time high of $142.78.

A shift in the options pits could provide serious tailwinds for DKS. This is per the stock's 50-day put/call volume ratio of1.02 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 84% of readings from the past year. This means that long puts have been getting picked up at a quicker-than-usual clip in the last 10 weeks.

A short squeeze could also provide more fuel for the stock's fire. Short interest increased by 15.1% in the most recent reporting period. However, these bearish bets still represent a hefty 22.3% of the stock's total available float, and more than six days of pent-up buying power, at the security's average pace of trading.

Published on Mar 7, 2022 at 12:23 PM

Editor's Pick
Most Active Options Update

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Options Players, Analysts Paying Attention to SoFi Stock

by Lillian Currens

There's been some buzz surrounding SoFi Technologies Inc (NASDAQ:SOFI). Between the company's fourth-quarter earnings beat last week and news of a billion-dollar acquisition late last month, the personal finance company has kept investors busy. So busy, in fact, that the equity just turned up on Schaeffer's Senior Quantitative Analyst Rocky White's list of names that have attracted the most weekly options volume in the last two weeks.

To be more specific, During this time period, 2,422,812 calls and 1,154,713 puts have been exchanged. The most popular contract during this time was the weekly 3/4 12-strike call, followed by the 13-strike call in the same series with 258,270 contracts exchanged between the two.

mao march 7

The stock has also caught the attention of one analyst, with Piper Sandler initiating coverage with a "neutral" rating and a $12 price target today. The analyst joins an already optimistic brokerage bunch. Coming into today, seven of the nine in coverage considered SOFI a "strong buy," while the 12-month consensus price target of $17.29 is a 74.5% premium to current levels.

Short sellers, meanwhile, have been piling on the security. Short interest rose 42% in the last two reporting periods, and the 101.25 million shares sold short make up 18.3% of the stock's available float.

SOFI was last seen down 0.8% at $9.92, pacing for its third-straight loss. The equity is down 44% in the past year and down 13.6% in March alone. The stock's 50-day moving average has added to its woes, stopping out two rally attempts already this year.

sofi chart march 7