Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Jun 2, 2015 at 1:40 PM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Update

Analysts are weighing in on security solutions expert Barracuda Networks Inc (NYSE:CUDA), oil-and-gas issue Hercules Offshore, Inc. (NASDAQ:HERO), and mobile game maker iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY). Here's a quick roundup of today's brokerage notes on CUDA, HERO, and DSKY.

  • Guggenheim chimed in on a number of IT issues today -- and at least one financial firm -- and for CUDA, this resulted in a fresh "buy" initiation and $45 price target. On the charts, the stock has been trying to make a comeback since taking a sharp bounce off its 160-day moving average on May 18, up 14.4% at $40.32. Option traders, meanwhile, have been buying to open puts over calls at a faster-than-usual clip in recent weeks. Specifically, Barracuda Networks Inc's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.40 sits in the 77th percentile of its annual range.

  • HERO is popping today -- last seen 6.6% higher at $0.70 -- as a pre-OPEC rebound in oil overshadows a pair of negative analyst notes. Specifically, Cowen and Company cut its price target to $0.50 from $0.75, while Global Hunter Securities reduced its target price by a dime to $0.60. Today's positive price action is a rare occurrence for Hercules Offshore, Inc., which has surrendered nearly 85% of its value over the past 52 weeks. Not surprisingly, sentiment is tilted toward the skeptical side. For starters, one-fifth of the equity's float is sold short. Elsewhere, all eight analysts covering the shares maintain a "hold" or worse suggestion, while the average 12-month price target of $0.72 doesn't anticipate much upside from current trading levels.

  • DSKY is failing to capitalize on a price-target hike to $14 from $12 at Piper Jaffray, with the shares 1.4% lower at $10.83. This downtrend is just more of the same for a stock that's shed 37% year-to-date, and more recently, encountered a stern layer of resistance at its 120-day moving average. In the options pits, speculators at the ISE, CBOE, and PHLX have shown a preference for long calls over puts in recent weeks, and over the past 10 sessions, they have bought to open 4.12 calls for each put. Echoing this call-skewed trend is iDreamSky Technology Ltd's Schaeffer's put/call open interest ratio (SOIR) of 0.50, which indicates call open interest doubles put open interest among options slated to expire in three months or less.
Published on Jun 3, 2015 at 9:23 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Buzz Stocks

U.S. stocks are getting a pre-market lift, thanks to encouraging data and an interest rate decision across the pond. In company news, today's stocks to watch include fast-food chain Wendys Co (NASDAQ:WEN), cloud concern Synchronoss Technologies, Inc. (NASDAQ:SNCR), and accessories designer Vera Bradley, Inc. (NASDAQ:VRA)

  • WEN is sitting pretty this morning, after the company announced it will buy back $1.4 billion in stock and sell a bakery business to streamline operations. The chain also slashed its full-year adjusted earnings guidance to reflect the bakery sale. As such, the shares are 3.2% higher ahead of the bell, looking to add to their nearly 23% year-to-date advance -- and make a run at last month's seven-year high of $11.67. Should Wendys Co continue to trek higher, it could prompt a round of bullish analyst notes. Nine of 11 brokerage firms rate the stock a "hold" or worse, and WEN's consensus 12-month price target of $11.71 represents a slim 5.5% premium to Tuesday's close at $11.10.

  • SNCR is reportedly looking to be purchased in a potential agreement that could be worth more than $2 billion, and is drawing interesting from several private-equity firms. The buyout buzz has the shares perched 18.4% higher ahead of the bell, relative to last night's close at $42.53. Recently, Synchronoss Technologies, Inc. has struggled on the charts, dropping 19% since its late-April high of $52.45, and breaching most of its historically supportive trendlines. Short sellers could get burned by today's expected gap higher. Over 12% of SNCR's float is sold short, representing 12 days' worth of pent-up buying activity, at average daily volumes.

  • Finally, VRA was temporarily halted in electronic trading while the company reported lackluster first-quarter earnings and issued disappointing guidance. Although pre-market trading has resumed, the stock is getting pummeled -- down nearly 14% ahead of the bell, and headed for fresh all-time lows. It's already been a tough year for Vera Bradley, Inc., which has shed 30.6% in 2015 to rest at $14.14 -- ushered lower by its 10-week moving average, and hitting a record low of $13.15 just yesterday. Short sellers have been piling on amid this sell-off, with more than one-quarter of VRA's float sold short. At the stock's typical daily trading levels, it would take nearly 18 sessions to repurchase all these bearish bets.
Published on Jun 3, 2015 at 9:28 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Upgrades

Analysts are weighing in on wearable camera maker GoPro Inc (NASDAQ:GPRO), semiconductor specialist Ambarella Inc (NASDAQ:AMBA), and professional networking site LinkedIn Corp (NYSE:LNKD). Here's a quick roundup of today's bullish brokerage notes on GPRO, AMBA, and LNKD.

  • GPRO is up 3% in electronic trading -- and on its way to explore levels not seen since early January -- after J.P. Morgan Securities raised its price target to $75 from $70. Specifically, the brokerage firm said recent developments -- including plans to build a drone and GoPro Inc's new touchscreen camera -- "should translate into strong capture-device growth through 2016 and into 2017, and yield media and software revenue opportunities." Technically speaking, GPRO has added more than 57% since hitting a 2015 low of $37.13 on March 10, and settled last night at $58.40. Additional gains could be on the horizon, should shorts begin to capitulate due to this upward momentum. Roughly one-quarter of GPRO's float is sold short, and would take more than four sessions to cover, at the stock's average daily pace of trading. Looking ahead, GPRO will host its annual shareholder meeting next Monday.

  • It's been a busy week for AMBA, whose chips are used in GPRO's cameras. The stock rallied to a record high of $95.67 on Monday -- thanks to a bullish brokerage note -- only to retreat from this mark yesterday, and close the session at $92.21. Today, the shares are headed higher once again, after Ambarella Inc's strong turn in the earnings confessional was met with a round of upbeat analyst attention. Included in the bunch was an upgrade to "hold" from "underperform" at Needham, and a price-target hike to $123 from $96 at Pacific Crest. Year-to-date, the stock has already added almost 82%, and a continued rise could prompt another round of upwardly revised analyst notes. In fact, half of those covering the shares maintain a "hold" or "strong sell" recommendation, while the average 12-month price target of $80.91 stands at a discount to current trading levels. AMBA could continue to garner some attention tomorrow, when it holds its annual shareholder meeting.

  • J.P. Morgan Securities added LNKD to its "U.S. equity analyst focus list," explaining it believes "LinkedIn is the most actionable name in our coverage universe." The stock has certainly been on a roll this week -- up 5.1% from last Friday's close at $194.93 to trade at $204.81 -- on Icahn-related rumors. The equity looks poised to extend this momentum today, and possible take out recent resistance at its 320-day moving average. This should come as good news for option traders, who have been scooping up long calls over puts at a rapid-fire rate in recent weeks. Specifically, LinkedIn Corp's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 2.14 ranks in the 94th percentile of its annual range. Meanwhile, LNKD's annual shareholder meeting is scheduled for 1 p.m. ET today.
Published on Jun 3, 2015 at 9:31 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Downgrades

Analysts are weighing in today on flying enthusiast American Airlines Group Inc (NASDAQ:AAL), food and beverage concern Dean Foods Co (NYSE:DF), and online travel firm Tripadvisor Inc (NASDAQ:TRIP). Here's a quick roundup of today's bearish brokerage notes on AAL, DF, and TRIP.

  • After taking a hit yesterday, AAL is down once again. The shares are 0.7% lower this morning at $43.48, after BofA-Merrill Lynch lowered its outlook to "neutral." The stock has been getting hammered in 2015, dropping 18.9%. Unfortunately for shareholders, American Airlines Group Inc may not be in the clear yet. The stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of of 5.51 is only 8 percentage points from an annual high. Plus, 10 of 13 brokerage firms say the equity is a "buy" or better. In other words, AAL could face headwinds if option traders or analysts change their bullish tune.

  • Morgan Stanley lowered its rating on DF to "equal weight" from "overweight," and now the shares are off 1.8% at $18.19. On the charts, Dean Foods Co has managed to outdo the S&P 500 Index (SPX) by more than 14 percentage points in the past 20 sessions, and short-term option traders are now more call-skewed than normal. The security's Schaeffer's put/call open interest ratio (SOIR) of 0.41 is lower than 82% of all readings from the past year. This also means that call open interest more than doubles put open interest among options expiring within three months.

  • Barclays weighed in on a number of online names overnight, and for TRIP this meant a new "underweight" rating and a $68 price target -- marking a discount to current levels. On top of this, Pacific Crest resumed coverage on the stock with a "sector weight" opinion. Tripadvisor Inc is 0.03% lower today at $76.30, as it clings to its slim 2015 lead. Most analysts have already taken a wait-and-see approach, as 14 brokerage firms say the shares are a "hold," with six others calling them a "strong buy," and one saying they're a "sell." However, TRIP's consensus 12-month price target of $88.83 stands at a 16.4% premium to its current perch, suggesting future price-target cuts could be in the cards.
Published on Jun 3, 2015 at 10:48 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Stocks On the Move
Put players have been active in Halozyme Therapeutics, Inc.'s (NASDAQ:HALO) options pits in recent months, per data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). In fact, the equity's 50-day put/call volume ratio across this trio of exchanges sits at 0.57 -- in the 99th percentile of its annual range.

Echoing this trend is HALO's Schaeffer's put/call open interest ratio (SOIR) of 0.48, which rests higher than 92% of all similar readings taken in the past year. Simply stated, short-term speculators have been more put-heavy toward the security just 8% of the time within the past year.

This skepticism is seen outside of HALO's options arena, as well. Short interest, for example, jumped 7.1% in the latest reporting period, and now accounts for a lofty 16.6% of the equity's available float. Additionally, it would take shorts more than three weeks to cover these shorted shares, at the security's average daily pace of trading.

What's surprising is that there is this amount of pessimism levied toward a stock that's almost doubled in value on a year-to-date basis. Today alone, the shares have jumped 5.2% to trade at $18.93 -- and are fresh off an all-time peak of $19.05 -- on news the company has inked another collaboration deal, this time with AbbVie Inc (NYSE:ABBV). Should Halozyme Therapeutics, Inc. (NASDAQ:HALO) extend its trek into record-high territory, a capitulation from option bears and/or short sellers could help fuel the equity's fire.
Published on Jun 3, 2015 at 12:53 PM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Update

Analysts are weighing in on apparel and accessories maker G-III Apparel Group, Ltd. (NASDAQ:GIII), biopharmaceutical firm Esperion Therapeutics Inc (NASDAQ:ESPR), and security software specialist Nice-Systems Ltd (ADR) (NASDAQ:NICE). Here's a quick roundup of today's brokerage notes on GIII, ESPR, and NICE.

  • GIII hit a record high of $66.18 earlier -- and was last seen up 9.8% at $65.97 -- after the firm's stronger-than-expected first-quarter earnings and upwardly revised full-year forecast was met with a batch of bullish brokerage notes. Wunderlich, for example, upped its price target to $75 from $62, saying G-III Apparel Group, Ltd. has "leveraged the Calvin Klein brand in department stores, done a sterling job of taking discarded concepts and revitalizing them at its own stores; its business model among the best in the apparel space." Today's positive price action just echoes the equity's longer-term technical trajectory, with GIII boasting a 31% year-to-date lead, thanks to lifts from its 50- and 60-day moving averages. In the options pits, speculators have shown a preference for long calls over puts of late, and at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), they have bought to open 1.81 calls for each put over the past 10 sessions.

  • Unlike last week's brokerage notes -- which sent shares of ESPR tumbling -- the stock is up 5.2% today, after JMP Securities boosted its price target on the shares to $177 from $121. Not only does this new outlook represent expected upside of 68.2% to the equity's current perch at $105.21, it also resides in never-before-seen territory. Longer term, ESPR has put in a strong performance on the charts, and has grown more than sevenfold over the past 52 weeks. Against this backdrop, most analysts have taken the glass-half-full approach. Of the seven brokerage firms covering the shares, six maintain a "buy" or better rating, versus just one "strong sell." Elsewhere, Esperion Therapeutics Inc's average 12-month price target of $124.67 sits at an 18.5% premium to the stock's present price -- and represents a move to record highs.

  • J.P. Morgan Securities raised its rating on NICE to "overweight" from "neutral," and upped its price target by $4 to $72. The shares have since added 3.5% to trade at $65.50, and are now less than 3 percentage points away from their May 19 all-time high of $67.15. This upward momentum is just more of the same for a stock that's up 29% on the year, and more upgrades and/or price-target hikes could be on the horizon. Currently, half of those covering Nice-Systems Ltd maintain a tepid "hold" recommendation, while the average 12-month price target of $66.86 is within a chip-shot of current trading levels.
Published on Jun 4, 2015 at 9:17 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Upgrades

Analysts are weighing in on cybersecurity specialist FireEye Inc (NASDAQ:FEYE), social media giant Facebook Inc (NASDAQ:FB), and telecommunications concern AT&T Inc. (NYSE:T). Here's a quick roundup of today's bullish brokerage notes on FEYE, FB, and T.

  • FEYE is poised to notch another annual high today, after reports the firm is teaming up with Visa Inc (NYSE:V) to share -- and subsequently sell -- cyber-threat intelligence were well-received on Wall Street. Piper Jaffray, for instance, boosted its price target to $60 from $50, while Evercore ISI and Stifel both raised their price targets to $55. Although FEYE hasn't traded north of either mark since April 2014, the stock has been making technical strides recently. Year-to-date, in fact, FEYE has soared 51% -- and has been hitting a string of higher highs along the way, including a 52-week peak of $48.29 just yesterday. A continued uptrend could prompt another round of upbeat analyst notes, considering half of those covering the shares maintain a "hold" or worse rating. Plus, FireEye Inc's average 12-month price target of $47.50 stands at a discount to last night's close at $47.69.

  • Ahead of FB's annual shareholder meeting -- which is on next Thursday's docket -- Evercore ISI upped its price target on the stock to $105 from $95, representing expected upside of 27.4% to Wednesday's close at $82.44, and a trek into uncharted territory. On the charts, FB has been gaining ground since taking a sharp bounce off its 200-day moving average on May 12, up 7.4%. What's more, the shares broke out above their 50-day moving average yesterday -- a trendline that has contained the security's advances since late April. Option traders, meanwhile, have been rolling the dice on more upside in recent months. Facebook Inc's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 2.57 ranks in the 78th annual percentile. Simply stated, calls have been bought to open over puts at an accelerated clip.

  • J.P. Morgan Securities raised its rating on T to "overweight" from "neutral" and its price target to $40 from $35 -- a level the stock has not seen the north side of in more than seven years. Despite this vote of confidence, shares of T are down about 1% in electronic trading, after settling last night at $35.03. Longer term, the stock has spent the past year bouncing between $32 and $37.50, but option traders have been betting on a breakout. The security's 10-day ISE/CBOE/PHLX call/put volume ratio of 1.27 rests higher than 71% of all similar readings taken in the past year. Echoing this is AT&T Inc.'s Schaeffer's put/call open interest ratio (SOIR) of 0.95, which sits in the 22nd percentile of its annual range. In other words, short-term speculators are more call-heavy than usual toward T.
Published on Jun 4, 2015 at 9:20 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Buzz Stocks

Soaring bond yields are weighing heavily on U.S. equities this morning. In company news, today's stocks to watch include telecom firm T-Mobile US Inc (NYSE:TMUS), entertainment expert Starz (NASDAQ:STRZA), and diagnostics concern Opko Health Inc. (NYSE:OPK)

  • TMUS is reportedly in talks with DISH Network Corp (NASDAQ:DISH) on a potential merger, just a week after a similar deal hit the Street. The M&A buzz has shares of T-Mobile US Inc 6.6% higher ahead of the bell -- and on track to open at a multi-year high. Yesterday, the stock closed at $38.33, up more than 42% in 2015, after hitting a nearly seven-year peak of $39.12 on Monday. Not surprisingly, the brokerage bunch has been extremely bullish on TMUS. Fifteen of 18 analysts rate the shares a "buy" or better, compared to two "holds" and just one "sell." Likewise, traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have bought to open TMUS calls over puts at an accelerated clip of late, per the equity's 10-day call/put volume ratio of 20.18 -- in the 89th percentile of its annual range.

  • STRZA, which is up 40.4% year-to-date to perch at $41.70, is in focus this morning, after media magnate John Malone said the company may be a buyout target of Lions Gate Entertainment Corp. (USA) (NYSE:LGF). The comments carry weight, as Malone owns a roughly 3% stake in LGF. Should the shares capitalize on the speculation, Starz could top yesterday's all-time high of $43.30. Short sellers are likely getting antsy. Over 9% of STRZA's float is sold short, which represents nearly 12 sessions' worth of pent-up buying power, at the stock's typical daily trading level.

  • OPK is also making M&A headlines, after securing a deal to buy Bio-Reference Laboratories (NASDAQ:BRLI) for roughly $1.5 billion. Wall Street is panning the move, though, as Opko Health Inc. is poised to open nearly 5.2% lower. Longer term, the stock has been a beast, almost doubling in value this year to trade at $19.12, and touching a record peak of $19.20 just yesterday. Additional upside could be on tap, too, considering roughly 18% of OPK's float is sold short. At the equity's average daily volume, it would take 12 sessions to repurchase all these bearish bets.
Published on Jun 4, 2015 at 9:38 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Downgrades

Analysts are weighing in today on wireless behemoth Verizon Communications Inc. (NYSE:VZ), commodity concern Chesapeake Energy Corporation (NYSE:CHK), and microblogging issue Twitter Inc (NYSE:TWTR). Here's a quick roundup of today's bearish brokerage notes on VZ, CHK, and TWTR.

  • J.P. Morgan Securities lowered its outlook on VZ to "neutral" from "overweight," and now the shares are 1.9% lower at $48.17. (On the flip side, the brokerage firm was much kinder to this rival.) With the dip, Verizon Communications Inc.'s year-to-date lead falls to 2.9%, and option traders are likely cheering. The stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio comes in at 1.37 -- ranking in the 87th percentile of its annual range. In other words, put buying has been more popular than normal during the past two weeks. 

  • CHK is off 1.9% at $13.30 today -- a new three-year low -- after Deutsche Bank cut its price target to $16 from $18. This just adds insult to injury, with the stock now down over 32% in 2015. No wonder, then, most analysts are on the bearish side. That is, 16 of 20 brokerage firms say Chesapeake Energy Corporation is a "hold" or worse. It's not just the brokerage bunch that's skeptical. Nearly 22% of CHK's float is sold short, which would take over a week to buy back, at its average trading pace.

  • Evercore ISI reduced its price target on TWTR -- while doing the opposite to sector peer Facebook Inc (NASDAQ:FB) -- by $10 to $39, and downgraded the stock to "hold." Regardless, the equity is 0.6% higher at $37.21 today. Since its bear gap in late April, the stock has been consolidating in this area, and option traders have been betting on a breakout. Twitter Inc's 50-day ISE/CBOE/PHLX call/put volume ratio of 2.65 is higher than 73% of readings from the past year. Not everyone shares this optimism, though. During the most recent two-week reporting period, short interest on TWTR rose by almost 23%.
Published on Jun 4, 2015 at 1:27 PM
Updated on Mar 19, 2021 at 7:15 AM
  • By the Numbers
The results are in! In this month's "Nutrition Action Health Letter," the Center for Science in the Public Interest named the "9 Worst Chain Restaurant Meals of the Year." Appearing on the list were a number of publicly traded companies, including Bloomin' Brands Inc's (NASDAQ:BLMN) Outback Steakhouse, Cheesecake Factory Inc (NASDAQ:CAKE), Darden Restaurants, Inc.'s (NYSE:DRI) Red Lobster, and Sonic Corporation (NASDAQ:SONC). Against this backdrop, we decided to take the proverbial blood pressure of BLMN, CAKE, DRI, and SONC -- both on and off the charts.

Outback's Herb Roasted Prime Rib dinner led the way, as the steak and sides weigh in at a hefty 2,400 calories and 71 grams of saturated fat. Meanwhile, shares of parent company BLMN have waddled lower under pressure from their 10-week moving average -- down nearly 9% year-to-date at $22.54.

Traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) are expecting additional losses, too, purchasing puts at an accelerated clip. BLMN's 50-day put/call volume ratio across this trio of exchanges is 4.80 -- ranking just 8 percentage points from an annual high.

Moving along, CAKE is the only restaurant chain to earn two spots on the list. Its Louisiana Chicken Pasta boasts 2,370 calories, while its Warm Apple Crisp has 1,740 -- plus 32 teaspoons of sugar!

On the charts, CAKE has advanced less than 4% in 2015 to flirt with $52.18. As such, the brokerage bunch is mostly skeptical toward the equity. Specifically, 80% of covering analysts consider the shares a tepid "hold."

Another notable on the list of notorious meals is Red Lobster's Create Your Own Combination. The study's authors selected three shrimp dishes, french fries, a Caesar salad, and one biscuit -- totaling 2,710 calories and four days' worth of sodium.

Red Lobster parent DRI, meanwhile, has advanced more than 11% this year, hovering around $65.14. However, the majority of analysts tracking the shares consider them a "hold" or worse. Also, the stock's average 12-month price target of $69.78 represents a slim 7% premium to current levels. This could pave the way for a round of upgrades and/or price-target hikes.

Finally, SONC's Pineapple Upside Down Master Blast packs in just over 2,000 calories and 61 grams of saturated fat. The company's shares, meanwhile, have declined 18.2% since hitting an all-time high of $36.73 in late March, and now trade at $30.03.

Short sellers are anticipating further struggles, too. Over 9% of SONC's float is sold short, which represents more than seven sessions of trading, at the stock's average daily clip.
Published on Jun 4, 2015 at 1:33 PM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Update

Analysts are weighing in on retailers Five Below Inc (NASDAQ:FIVE) and Dillard's, Inc. (NYSE:DDS), as well as drugmaker Atara Biotherapeutics Inc (NASDAQ:ATRA). Here's a quick roundup of today's brokerage notes on FIVE, DDS, and ATRA.

  • FIVE is popping today -- up 8.2% at $37.98 -- after the firm's better-than-expected first-quarter results and upwardly revised full-year forecast received a round of applause from the brokerage bunch. Dougherty, for example, raised its price target by $5 to $45, while Barclays boosted its target price to $44 from $42. Wells Fargo, meanwhile, said Five Below Inc's "growth story is back on track," and should continue to improve. Since late April, FIVE has been sandwiched between support at its 60-day moving average and resistance at its 32-day trendline, but thanks to today's gap, the security is on pace to close north of its 320-day moving average for the first time since Jan. 8. Meanwhile, it appears option traders were betting on a post-earnings slide. The stock's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.64 ranks in the 90th annual percentile, meaning puts have been bought to open over calls at a near-annual-high clip.
  • Credit Suisse weighed in on department stores today, downgrading the sector as a whole to "underweight" from "market weight." The brokerage firm also took aim at individual names within the sector, and for DDS, this resulted in a rating cut to "underperform" from "neutral." In response, the shares have tumbled 2.4% to $114.40, and are at risk of closing south of their 320-day moving average for the first time since February 2014. Longer term, Dillard's, Inc. has surrendered nearly 21% since topping out at a record high of $144.21 in mid-April, but option traders have been rolling the dice on a bounce. At the ISE, CBOE, and PHLX, the security's 10-day call/put volume ratio of 1.16 rests higher than 66% of similar readings taken in the past year.
  • Biotechs have been garnering a lot of attention this week, and sector component ATRA saw its price target lifted to $47 from $43 at Jefferies overnight -- sending the stock 4.7% higher today to $42.83. This positive price action is just more of the same for an equity that's surged more than 60% year-to-date. Should Atara Biotherapeutics Inc extend this momentum, another round of price-target hikes could be on the horizon, considering the stock's consensus 12-month price target of $42.67 is roughly in line with current trading levels.
Published on Jun 4, 2015 at 4:41 PM
Updated on Mar 19, 2021 at 7:15 AM
  • The Week Ahead

Next week's lineup is relatively light once again, with just a handful of notable earnings and economic reports on tap. Among the bigger-name companies making their way into the spotlight are retailers Sears Holdings Corp (NASDAQ:SHLD) and Lululemon Athletica inc. (NASDAQ:LULU), as well as tax prep giant H & R Block Inc (NYSE:HRB). In addition, tech titan Apple Inc. (NASDAQ:AAPL) will surely make some waves. In terms of data, retail sales, import and export prices, and the producer price index (PPI) are the main highlights.

Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.

Monday, June 8

  • There are no notable economic reports scheduled for Monday. Dave & Busters (PLAY), FuelCell Energy (FCEL), HRB, SHLD, and Vail Resorts (MTN) will step up to the earnings mic, while AAPL will kick off its Worldwide Developers Conference.

Tuesday, June 9

  • Tuesday will feature the latest Job Openings and Labor Turnover Survey (JOLTS) from the Labor Department. Burlington Stores (BURL), Hovnanian Enterprises (HOV), LULU, Mattress Firm (MFRM), and Pep Boys-Manny Moe and Jack (PBY) are scheduled to report quarterly results.

Wednesday, June 10

  • Weekly crude inventories and the Treasury budget are due out Wednesday. Among the companies in the earnings lineup are Krispy Kreme (KKD) and Men's Wearhouse (MW).

Thursday, June 11

  • Thursday's docket is packed with reports, including weekly jobless claims, retail sales, import and export prices, and business inventories. Bojangles (BOJA) will take its inaugural turn in the earnings confessional.

Friday, June 12

  • The week closes out with the PPI and the Thomson Reuters/University of Michigan consumer sentiment index. There are no earnings reports worth noting.

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