Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on May 12, 2015 at 1:50 PM
Updated on Mar 19, 2021 at 7:15 AM
  • By the Numbers
ITT Educational Services, Inc. (NYSE:ESI) is taking it on the chin today, down 36.4% at $2.56 -- and fresh off an all-time low of $2.07. The catalyst behind the stock's implosion is news that the Securities and Exchange Commission (SEC) has filed fraud charges against the company and a pair of top executives. In fact, trading on the shares -- which have been placed on the short-sale restricted list, attracting the interest of put traders -- was halted briefly this morning.

As alluded to, ESI puts have been popular today. By the numbers, 12,000 contracts have changed hands -- 20 times the usual intraday clip, and nearly four times the number of calls on the tape. This preference for puts over calls has been on display for the past couple weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). Specifically, ESI's 10-day put/call volume ratio of 3.66 ranks in the 91st percentile of its annual range, meaning traders have bought to open puts over calls at an accelerated clip recently.

Echoing this is the security's Schaeffer's put/call open interest ratio (SOIR) of 0.69, which is higher than 64% of comparable readings from the past year. Stated differently, speculators targeting ESI options with a shelf-life of three months or less have preferred puts -- relative to calls -- by a greater-than-usual margin.

Negativity toward ITT Educational Services, Inc. (NYSE:ESI) has spilled beyond the options pits, as well. An astonishing 61.8% of the equity's float is sold short, which would take more than four weeks to repurchase, at the security's average daily trading volume.
Published on May 12, 2015 at 2:15 PM
Updated on Mar 19, 2021 at 7:15 AM
  • Stocks On the Move
Put players have been active in Rocket Fuel Inc's (NASDAQ:FUEL) options pits in recent weeks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day put/call volume ratio of 0.18 rests in the 64th annual percentile.

Mirroring this is FUEL's Schaeffer's put/call open interest ratio (SOIR) of 0.80, which rests just 6 percentage points from a 52-week peak. In other words, near-term traders have rarely been as put-heavy toward the security as they are now.

This skepticism is seen outside of the options pits, as well, where short interest accounts for nearly 18% of the equity's available float. Additionally, six out of seven analysts maintain a lukewarm "hold" recommendation on the shares, while FUEL's average 12-month price target of $10.56 represents a tepid 14% premium to current trading levels. Today, in fact, Citigroup lowered its price target on FUEL to $9.50 from $12.

Technically speaking, the stock has made some big moves to the upside recently. Last Friday, for example, FUEL popped 9% in the wake of an unsolicited $350 million buyout offer from Gravity4 -- a bid BMO called "low-ball." In today's session, the stock is up 8.4% at $9.28, after unveiling a new partnership with Japan-based Cyber Communications Inc.

Longer term, though, Rocket Fuel Inc (NASDAQ:FUEL) remains a technical dud. Year-to-date, specifically, the stock has surrendered 42% -- and has not traded in double-digits since late March.
Published on May 13, 2015 at 9:23 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Upgrades

Analysts are weighing in on real estate issue Zillow Group Inc (NASDAQ:Z), software specialist Microsoft Corporation (NASDAQ:MSFT), and web domain giant Godaddy Inc (NYSE:GDDY). Here's a quick roundup of today's bullish brokerage notes on Z, MSFT, and GDDY.

  • Z was hit with a mixed bag of brokerage notes, after the company unveiled a first-quarter revenue miss last night. Specifically, Deutsche Bank upped its price target to $96, while Craig-Hallum boosted its target price to $95. Barclays and Cowen, meanwhile, each lowered their price targets to $90. At last check, the shares were up 0.4% in electronic trading -- and were briefly halted in the wake of the results -- after settling last night at $97.98, 7.5% below Z's year-to-date breakeven line. Outside of a rare upgrade earlier this week -- as well as today's pair of price-target hikes -- the brokerage bunch is mostly skewed toward the skeptical side. Roughly 82% of analysts maintain a tepid "hold" recommendation, while the average 12-month price target of $103.36 is within striking distance to current trading levels.

  • Deutsche Bank lifted its outlook on MSFT to "buy" from "hold" and boosted its price target to $55 from $44, explaining "weak PC market sentiment is already reflected in the stock and investor enthusiasm about Azure and Office 365 is just starting to kick in." The new price target represents expected upside of 16.2% to Tuesday's settlement at $47.35 -- and a trek into territory not charted since early 2000. On the sentiment front, option traders have been bracing for some downside. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), for example, the equity's 50-day put/call volume ratio of 0.67 rests in the 82nd percentile of its annual range. Ahead of the bell, Microsoft Corporation is up 1.4%, and ready to add to its modest 1.9% year-to-date advance.

  • GDDY, meanwhile, is bracing for a 2% drop out of the gate, as traders digest the company's first-quarter earnings report. The mood is much brighter among the brokerage bunch, however, with the stock receiving price-target hikes from Barclays (to $34) and Oppenheimer (to $32) -- both of which represent a move to all-time highs. Since going public on April 1, shares of GDDY have added a minute 2.4%, and closed last night at $26.77. Optimism has been building, however, and at the ISE, CBOE, and PHLX, Godaddy Inc's 10-day call/put volume ratio has jumped to 1.16 from 0.30 since the start of the month.
Published on May 13, 2015 at 9:25 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Buzz Stocks
U.S. stocks appear ready to rebound this morning, with futures signaling a fast start. In company news, today's stocks to watch include drugmaker Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), department store chain Macy's, Inc. (NYSE:M), and energy issue Williams Companies Inc (NYSE:WMB).

  • VRTX is charging north on news that a Food and Drug Administration panel is recommending the company's cystic fibrosis therapy, Orkambi, for approval. Specifically, the shares are perched 6.8% higher in electronic trading, after closing yesterday at $124.08. Looking more closely at the charts, Vertex Pharmaceuticals Incorporated boasts a year-over-year lead of 86%, and has been grinding higher recently atop its 120- and 160-day moving averages. Along the way, the stock hit a record high of $137.50 on April 23, on the heels of buyout buzz.

  • M is sitting 2.4% lower ahead of the bell, after the company reported first-quarter results that missed the Street's estimates. In other news, the retailer raised its share buyback plan by $1.5 billion, and its quarterly dividend by 15%. On the charts, Macy's, Inc. is sitting slightly below its year-to-date breakeven mark, resting at $65.33, after pulling back from an early April record peak of $69.98. Meanwhile, traders at the International Securities (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have been buying to open puts over calls at a breakneck pace in recent weeks. M's 10-day put/call volume ratio across those exchanges is 2.60 -- higher than 88% of comparable readings from the past year.

  • WMB announced it will buy affiliate Williams Partners LP (NYSE:WPZ) in an all-stock deal worth nearly $14 billion. As such, Williams Companies Inc shares are soaring in electronic trading, up 5.6%, after closing at $50.10 yesterday. Longer term, WMB has advanced 11.5% year-to-date, and has been trending higher since taking a bounce off its 32-month moving average. Option traders remain unconvinced, though. WMB's 10-day ISE/CBOE/PHLX put/call volume ratio of 2.11 ranks in the 88th percentile of its annual range, meanings speculators have been buying to open puts over calls at a much faster-than-usual rate.
Published on May 13, 2015 at 9:30 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Downgrades
Analysts are weighing in today on forex concern FXCM Inc (NYSE:FXCM), healthcare firm Humana Inc (NYSE:HUM), and mining concern Vale SA (ADR) (NYSE:VALE). Here's a quick roundup of today's bearish brokerage notes on FXCM, HUM, and VALE. 

  • KBW cut its price target on FXCM to $1 from $1.50 while keeping its "underperform" rating, as the currency firm continues to deal with legal troubles that came to light earlier this week. Additionally, FXCM Inc on Friday reported a first-quarter loss. At last check, the shares of FXCM Inc -- which closed at $1.90 yesterday -- were pointed 0.5% lower in electronic trading, and could steepen their staggering year-to-date loss of 88.5%. With the stock now in the low single digits, options traders have been gambling on a turnaround -- over the past 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), 30.61 FXCM calls have been bought to open for every put. Similarly, the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.10 is lower than 99% of all comparable readings from the past year, showing that short-term traders have rarely been this call-skewed. Elsewhere, all five analysts covering the stock rate it a "hold" or worse.  
  • The shares of HUM are down 0.7% in pre-market trading, after Sterne Agee CRT downgraded the equity to "underperform" from "neutral," with the brokerage firm saying "We believe there is material EPS guidance risk and that investor conversations about acquisitions are wishful thinking at these valuations." What's more, Leerink analyst Ana Gupte just yesterday speculated on a potential merger with Aetna Inc (NYSE:AET) . Although Humana Inc is up over 20% year-to-date to dock at $173.38, the stock could face potential resistance in the $175 area -- which acted as support until HUM released underwhelming first-quarter earnings late last month (subscription required). Looking to the options pits, traders have shown a preference for calls, as HUM's 50-day ISE/CBOE/PHLX call/put volume ratio of 2.09 ranks in the 88th annual percentile.
  • The shares of VALE are 0.5% higher in pre-market trading, despite Macquarie downgrading the stock to "neutral" from "outperform." The negative note echoes the current sentiment among the brokerage bunch, as 80% of covering analysts rate the stock a "hold" or worse. On the charts, the shares of Vale SA have dropped nearly 47% year-over-year to close yesterday at $7.37. Accordingly, puts have been prominent in the options pits, as VALE's 10-day ISE/CBOE/PHLX put/call volume ratio of 2.23 stands in the 90th percentile of its annual range. 
Published on May 13, 2015 at 1:16 PM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Update
Analysts are weighing in today on aerospace engineering concern Ducommun Incorporated (NYSE:DCO), pharmaceutical distribution firm McKesson Corporation (NYSE:MCK), and media insight issue Rentrak Corporation (NASDAQ:RENT). Here's a quick look at today's brokerage notes on DCO, MCK, and RENT. 

  • The shares of DCO are 21.6% lower at $23.98 -- making it the top percentage loser on the Big Board, and earning it a place on the short-sale restricted (SSR) list -- after the company's surprise first-quarter loss was met with a pair of negative brokerage notes. Specifically, Canaccord Genuity cut its price target to $30 from $31 while keeping its "hold" opinion, and D.A. Davidson & Co lowered its target to $28 from $30 while reaffirming a "neutral" rating. Heading into today's session, Ducommun Incorporated had been a technical outperformer, with the shares up over 21% year-to-date. However, today's bear gap has pulled the shares 5.1% into the red for 2015. Looking to the options pits, traders were aligning bullishly ahead of earnings. Over the past 50 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), 3.50 DCO calls were bought to open for every put. Elsewhere, short interest declined by 26.1% during the last reporting period, and now accounts for a scant 1.6% of the stock's available float.  
  • On the other hand, MCK released fiscal fourth-quarter earnings that toppled analysts' expectations, sending the shares 2% higher to $234.09. In fact, the stock touched a record peak of $236 in intraday action. In response, no fewer than nine brokerage firms raised their price targets on the security, including Raymond James (to $265), J.P. Morgan Securities (to $255), and Credit Suisse (to $263). Additionally, all nine brokerage firms reiterated "outperform" or equivalent ratings. Technically speaking, McKesson Corporation has been a beast, with the shares up over 31% year-over-year. Despite this uptrend, options traders have been betting bearishly on the stock, as MCK's 50-day ISE/CBOE/PHLX put/call volume ratio of 2.43 stands higher than 97% of all similar readings from the past year. Mirroring this indicator is the stock's Schaeffer's put/call open interest ratio (SOIR) of 1.77, which ranks in the 96th annual percentile. Said another way, short-term speculators have only been more put-skewed 4% of the time over the last 12 months. 
  • Wunderlich upgraded RENT to "buy" from "hold" -- and lifted its price target to $65 from $60 -- after the company reported better-than-expected fiscal fourth-quarter revenue. On the charts, Rentrak Corporation has jumped 23.3% to $63, making it one of the top percentage gainers on the Nasdaq. Furthermore, today's pop has the shares above their 200-day moving average for the first time since a post-earnings bear gap in early February. Traders had been picking up calls at a rapid-fire clip ahead of yesterday's earnings release, as 29.5 RENT calls have been bought to open for every put over the last 10 days at the ISE, CBOE, and PHLX. Meanwhile, short interest declined by 5% during the last reporting period, but still accounts for 15% of RENT's available float. It would take these bettors 11 sessions to cover their positions, at average trading volumes.
Published on May 14, 2015 at 9:15 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Buzz Stocks

U.S. stocks are poised for a strong session, following Wednesday's choppy action. In company news, today's stocks to watch include retailer Kohl's Corporation (NYSE:KSS), drugmaker Puma Biotechnology Inc (NYSE:PBYI), and chip producer Cypress Semiconductor Corporation (NASDAQ:CY).

  • KSS is getting walloped in pre-market trading, as declining same-store sales outweigh a first-quarter earnings beat. At last check, the stock was down 11%, after closing at $74.51 yesterday -- and on a 22% year-to-date lead. On top of that, Kohl's Corporation is at risk of closing below its supportive 80-day moving average for the first time in 2015. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have been buying to open calls over puts at a rapid-fire rate in recent months. The equity's 50-day call/put volume ratio of 1.71 ranks in the 97th percentile of its annual range.

  • PBYI is reeling ahead of the bell on disappointing breast cancer drug results. Specifically, the shares are off 18% in electronic trading, threatening to drag them into negative year-to-date territory. As of Wednesday's close at $209.72, Puma Biotechnology Inc had rallied 10.8% in 2015. One group likely to cheer a drop in the stock is short sellers. Twelve percent of PBYI's float is sold short, representing two weeks' worth of trading, at the equity's average daily volume.

  • CY has placed an all-cash bid to purchase Integrated Silicon Solution, Inc. (NASDAQ:ISSI) for roughly $627 million, or $19.75 per share -- a 5.4% premium to last night's close at $18.74. Amid this news, shares of Cypress Semiconductor Corporation are pointed 2.3% higher this morning, attempting to hurdle their 20-day moving average, and come back from an 11.4% year-to-date deficit to rest at $12.65. Options traders are hopeful, based on data from the ISE, CBOE, and PHLX. During the past two weeks across those exchanges, nearly 29 calls have been bought to open for every put. CY's resultant 10-day ISE/CBOE/PHLX call/put volume ratio of 28.78 outstrips 89% of comparable readings from the last 12 months.
Published on May 14, 2015 at 9:29 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Downgrades
Analysts are weighing in today on blue chip Cisco Systems, Inc. (NASDAQ:CSCO), chipmaker EZchip Semiconductor Ltd (NASDAQ:EZCH), and security technology firm Identiv Inc (NASDAQ:INVE). Here's a quick roundup of today's bearish brokerage notes on CSCO, EZCH, and INVE.

  • The shares of CSCO are 1% lower in electronic trading, despite the company's fiscal third-quarter earnings beat. Furthermore, the blue chip addressed yesterday's rumors about a potential acquisition of FireEye Inc (NASDAQ:FEYE), with CEO John Chambers saying, "We won't comment on rumors about acquisitions or not. But I wouldn't bet on the one that you heard today." While a handful of analysts lifted their price targets on CSCO, Sterne Agee downgraded the stock to "neutral." Heading into today's session, Cisco Systems, Inc. has been trending upwards, with the shares up roughly 5.5% year-to-date to finish Wednesday at $29.35 -- just south of the stock's seven-year high of $30.31, tagged March 2. However, puts have been more prominent than usual in the options pits, as CSCO's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.49 ranks in the 62nd annual percentile. 
  • EZCH plummeted to a five-year low of $14.30 yesterday, due to CSCO's plan to phase out one of its chips, and the shares are poised to extend their journey lower today. Reacting were Chardan and Jefferies, which lowered their price targets to $15 and $16.50, respectively. Technically speaking, EZchip Semiconductor Ltd is now down 22.5% year-to-date to close yesterday at $14.84. However, despite the stock's long-term downtrend, traders have favored calls over puts in the options pits, as EZCH's 50-day ISE/CBOE/PHLX call/put volume ratio of 7.10 is higher than 93% of all comparable readings from the past year. 
  • Cowen and Company cut its price target on INVE to $18 from $24 while keeping its "outperform" rating, after the firm posted a wider-than-expected first-quarter loss. At last check, the shares of Identiv Inc were 3.9% lower ahead of the bell, which will steepen their 35.9% year-to-date deficit. Despite this downtrend, short-term traders have been more call-skewed than usual. Drilling down, INVE's Schaeffer's put/call open interest ratio (SOIR) of 1.14 stands in the 97th percentile of its annual range. Said another way, near-term speculators have only been more call-heavy on INVE 3% of the time over the last 12 months. 
Published on May 14, 2015 at 9:38 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Upgrades

Analysts are weighing in on discount travel service Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP), burger giant Shake Shack Inc (NYSE:SHAK), and retailer J C Penney Company Inc (NYSE:JCP). Here's a quick roundup of today's bullish brokerage notes on CTRP, SHAK, and JCP.

  • CTRP is up 13.3% out of the gate -- and already hit a record high of $75.68 -- after the firm's stronger-than-forecast first-quarter earnings was met with a round of upbeat analyst attention. Specifically, Oppenheimer boosted its outlook to "outperform" from "perform," Stifel raised the stock to "buy" from "hold," and Brean Capital increased its price target to $96 from $70. Today's projected price move just echoes the equity's longer-term technical strength, with Ctrip.com International, Ltd. up nearly 63% year-to-date to trade at $74.08. Option traders, meanwhile, have been initiating long puts over calls at a faster-than-usual clip in recent months. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), CTRP's 50-day put/call volume ratio of 0.83 rests just 5 percentage points from a 52-week peak.
  • SHAK unveiled standout first-quarter results and upwardly revised its full-year revenue forecast -- sending the shares up 9.5% in early trading. Adding to the buzz is a price-target hike to $60 from $40 at Jefferies, which cited Shake Shack Inc's "supercharged growth." On the charts, the stock has put in a strong performance since going public in late January, tacking on more than 59%. However, there is plenty of skepticism surrounding the stock. Short interest accounts for almost 41% of the equity's float, and all six analysts covering SHAK maintain a tepid "hold" recommendation. Plus, the average 12-month price target of $37 sits well below the equity's current perch at $74.86. Should the shares maintain their upward momentum, a round of short-covering and/or some additional bullish brokerage notes could translate into tailwinds for SHAK.
  • UBS upped its price target on JCP to $7 from $5, after the company posted a narrower-than-expected first-quarter loss and raised its annual gross margin goal. Unfortunately for Wednesday's batch of option bulls, the shares do not appear ready to capitalize, and are down more than 5% at $8.27. Heading into today's session, the stock was gaining ground on the charts, up more than 34% year-to-date. Short sellers have maintained their grip, though, and have shorted 32% of JCP's total available float. Elsewhere on the fundamental front, J C Penney Company Inc will host its annual shareholder meeting tomorrow.
Published on May 14, 2015 at 10:24 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Off the Charts

"Madden 16" -- the wildly popular NFL video game made by Electronic Arts Inc. (NASDAQ:EA) -- has announced its cover model: New York Giants wide receiver Odell Beckham Jr. At age 22, he'll be the youngest player ever to represent the Madden franchise.

The honor is well-deserved. Beckham -- who beat out Patriots tight end Rob Gronkowski -- broke out during his rookie season, catching more than 90 passes for over 1,300 yards and 12 touchdowns (in just 12 games!). The wideout was also propelled into the spotlight following this sick one-handed catch.

Beckham will now try to build on the success of his rookie season, and avoid a sophomore slump. On top of that, he'll need to avoid the so-called "Madden curse." If you're unfamiliar, players that appear on the game's cover have a really bad track record, marred by injury and underperformance.

A few examples worth considering:

  • In 2001, just months after making the cover following a 4,000-yard season, Vikings quarterback Daunte Culpepper shredded his knee and was lost for the year. He came back the following season, but was a shadow of his former self.

  • Following a huge 2005 season, Seahawks running back Shaun Alexander won the Madden cover vote. The subsequent year, he broke his foot; the year after that, he suffered wrist, knee, and ankle injuries.

  • Browns running back Peyton Hillis had a breakout 2010 season and surprisingly won the vote to become Madden's featured athlete. However, his 2011 campaign was marred by a contract dispute, strep throat, and a hamstring injury.

Clearly, Beckham has cause for concern -- the curse is real. However, shares of Madden's maker -- EA -- are far from cursed. The shares have surged 32% year-to-date to trade at $62.22, and are within striking distance of their 10-year high of $63.46, touched on Monday.

Electronic Arts Inc. (NASDAQ:EA) could also benefit from a capitulation among skeptics. Over 16 million shares are sold short, which would take more than a week to buy back, at the stock's typical daily trading levels. In other words, EA could be on the verge of a short-covering rally.
Published on May 14, 2015 at 1:40 PM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Update
Analysts are weighing in today on mobile device concern BlackBerry Ltd (NASDAQ:BBRY), semiconductor manufacturer Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM), and integrated circuit specialist Linear Technology Corporation (NASDAQ:LLTC). Here's a quick look at today's brokerage notes on BBRY, TSEM, and LLTC. 

  • Cowen and Company raised its price target on BBRY to $11 from $10 while underscoring its "market perform" rating, amid lingering rumors that the company is a potential takeover target for Apple Inc. (NASDAQ:AAPL). Today, the shares of BlackBerry Ltd are 0.4% higher at $10.30, and since hitting an annual low of $8.59 on March 31, are up over 20%. However, options traders have been picking up puts at a faster-than-usual clip, as BBRY's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.46 is higher than 86% of all similar readings from the past year. The brokerage bunch has been skeptical of the equity as well, as about 84% of covering analysts rate it a "hold" or worse. Meanwhile, short interest declined by 11.8% during the last reporting period, but still accounts for 17% of the stock's available float. It would take these bettors nearly 11 sessions to cover their positions, at average trading volumes. Should BBRY extend its recent rebound, a short squeeze could add fuel to the fire.
  • The shares of TSEM are 4.7% higher at $15.99, after the company's first-quarter earnings and current-quarter guidance surpassed expectations. Reacting was Ascendiant Capital, which raised its price target on the stock to $28 from $24 -- in five-year-high territory -- while reiterating its "buy" opinion. Technically speaking, today's positive price action is more of the same for Tower Semiconductor Ltd., as the shares are up 85.9% year-over-year. Accordingly, traders have favored calls over puts in the options pits -- over the past 10 days at the ISE, CBOE, and PHLX, 19.59 TSEM calls have been bought to open for every put.  
  • J.P. Morgan Securities upgraded LLTC to "neutral" from "underweight" and raised its price target to $48 from $40, sending the shares 1.6% higher to $46.79. Looking back, Linear Technology Corporation has been fairly range-bound in 2015, with the shares trading between $45 and $49. Year-to-date, though, the shares are up 2.6%. Options traders have been betting on a pullback, as LLTC's 10-day ISE/CBOE/PHLX put/call volume ratio of 3.26 stands in the 94th annual percentile. Simply stated, puts have only been bought to open with more rapidity 6% of the time over the past year. Short sellers have taken a shine to the security as well, as short interest surged by 9.4% during the last reporting period. It now comprises 5.5% of LLTC's available float, which would take five sessions to buy back, at average trading volumes.
Published on May 14, 2015 at 3:21 PM
Updated on Mar 19, 2021 at 7:15 AM
  • The Week Ahead

Next week's economic docket is highlighted by the Federal Open Market Committee's (FOMC) latest meeting minutes, which come out on Wednesday. Additionally, housing data is in the limelight, as housing starts, existing home sales, and the National Association of Home Builders (NAHB) housing market index are slated for release. What's more, home improvement stores Home Depot Inc (NYSE:HD) and Lowe's Companies, Inc. (NYSE:LOW) will report, along with retailers Wal-Mart Stores, Inc. (NYSE:WMT), Target Corporation (NYSE:TGT), and Best Buy Co Inc (NYSE:BBY); tech concerns Hewlett-Packard Company (NYSE:HPQ), Marvell Technology Group Ltd. (NASDAQ:MRVL), and Salesforce.com, inc. (NYSE:CRM);  and China-based firms Qihoo 360 Technology Co Ltd (NYSE:QIHU), JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) and Trina Solar Limited (ADR) (NYSE:TSL)

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 5/18
The week starts off with the National Association of Home Builders (NAHB) housing market index. For earnings, we'll see Agilent Technologies (A), JA Solar (JASO), Take-Two Interactive (TTWO), and Urban Outfitters (URBN). 

Tuesday 5/19
Housing starts is the lone report on Tuesday's docket. Revealing earnings will be Home Depot (HD), Wal-Mart Stores (WMT), Analog Devices (ADI), Cheetah Mobile (CMCM), Dick's Sporting Goods (DKS), Etsy (ETSY), NQ Mobile (NQ), Qihoo 360 Technology (QIHU), and TJX Companies (TJX).

Wednesday 5/20
On Wednesday, the minutes from the Federal Open Market Committee's (FOMC) latest meeting will be released, along with weekly crude inventories. Stepping up for earnings will be American Eagle Outfitters (AEO), Hormel Foods (HRL), L Brands (LB), Lowe's (LOW), NetApp (NTAP), Salesforce.com (CRM), Shoe Carnival (SCVL), SouFun (SFUN), Staples (SPLS), Target (TGT), and Williams-Sonoma (WSM). 

Thursday 5/21
Weekly jobless claims come out on Thursday, plus the Philadelphia Fed manufacturing survey and existing home sales. Advance Auto Parts (AAP), Aeropostle (ARO), Aruba Networks (ARUN), Best Buy (BBY), Buckle (BKE), Dollar Tree (DLTR), Gap (GPS), Hewlett-Packard (HPQ), Marvell Technology Group (MRVL), Ross Stores (ROST), and Trina Solar (TSL) will show their earnings power.  

Friday 5/22
Closing out the week is the consumer price index (CPI) and Markit's flash purchasing managers manufacturing index (PMI). ANN Inc (ANN), Campbell Soup (CPB), Deere & Company (DE), and Foot Locker (FL) will release earnings. 

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