Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Jul 22, 2015 at 9:37 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Buzz Stocks

U.S. stocks are taking it on the chin, amid the latest round of lackluster earnings. In company news, today's stocks to watch include tech heavyweight Apple Inc. (NASDAQ:AAPL), medical equipment maker Intuitive Surgical, Inc. (NASDAQ:ISRG), and biopharmaceutical specialist Biogen Inc (NASDAQ:BIIB)

  • AAPL is staring at a nearly 7% deficit at $121.74, following last night's mixed turn in the earnings confessional. While the company posted better-than-expected fiscal third-quarter profits and sales, it also offered up a disappointing revenue forecast. Apple Inc.'s pullback is being exacerbated by an unwinding of optimism across the Street. This morning, in fact, Cowen and Company downgraded its rating to "market perform" from "outperform," while slashing its price target to $130 from $140. FBR and BofA-Merrill Lynch followed suit, reducing their price targets to $175 and $142, respectively. Additional negative notes could be forthcoming, with 22 of 34 analysts rating AAPL a "buy" or better, and its average 12-month price target of $149.28 sitting in record-high territory.

  • ISRG is basking in positive brokerage attention, following an earnings beat and expectations for surgical procedures to grow up to 13% this year. Specifically, Canaccord Genuity upgraded its opinion to "buy," and boosted its price target to $615 from $517 -- with no fewer than eight other brokerages also upping their targets. Out of the gate, Intuitive Surgical, Inc. jumped to an annual high of $564.86, and was last seen 10.3% higher at $556.89 -- putting it back into positive territory in 2015. There's plenty of sideline cash available to fuel more upside for the shares, too. ISRG's short interest ratio of 5.00 indicates it would take one week to repurchase all of its shorted shares, at typical daily trading volumes.

  • Finally, BIIB said its experimental Alzheimer's drug, aducanumab, failed to slow mental decline during a Phase I trial -- proving at least one brokerage firm right. The disappointing news has the shares sitting 4.4% lower at $391.59, and testing support at their 160-day moving average. Option traders weren't expecting this from Biogen Inc. During the last 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have bought to open 1.74 calls for every put -- a ratio that ranks in the bullishly skewed 87th percentile of its annual range.

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Published on Jul 22, 2015 at 9:56 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Downgrades

Analysts are weighing in on coal concern Peabody Energy Corporation (NYSE:BTU), identity theft issue Lifelock Inc (NYSE:LOCK), and search engine specialist Yahoo! Inc. (NASDAQ:YHOO). Here's a quick roundup of today's bearish brokerage notes on BTU, LOCK, and YHOO.

  • It's been a dismal run for BTU, shedding 92% of its value during the last 52 weeks -- and hitting a record low of $1.12 on Monday. In today's session, the stock is off 2.5% at $1.17, after J.P. Morgan Securities downgraded its outlook to "neutral" from "overweight," saying BTU is under "extreme pressure" from short sellers. In fact, short interest surged 35% in the past two reporting periods, and now accounts for almost two-fifths of Peabody Energy Corporation's available float. Next week, the firm is scheduled to report earnings the morning of Tuesday, July 28.

  • LOCK had a terrible day on Tuesday -- plunging 49%, after the Federal Trade Commission (FTC) levied stiff allegations against the company. The brokerage bunch was quick to offer its two cents, with no fewer than four firms chiming in on the stock. RBC, for example, downgraded LOCK to "sector perform" from "outperform," and slashed its price target by $9 to $11. Elsewhere, Wunderlich Securities cut its outlook to "hold" from "buy," and lowered its price target to $9.25 from $20. Despite these bearish brokerage notes, Lifelock Inc is up 9.5% at the open to trade at $8.92. Considering its 14-day Relative Strength Index (RSI) closed last night at 11 -- deep in oversold territory -- a near-term bounce may have been in the cards. Looking ahead, LOCK earnings are tentatively scheduled for next week.

  • YHOO is down 2.7% out of the gate to linger near $38.67, after the firm -- along with several of its peers -- issued disappointing earnings. What's more, a handful of analysts cut their price targets on the shares, including BMO (to $46) and Evercore ISI (to $47). Cantor and Pivotal Research, meanwhile, bucked the trend by boosting their respective price targets to $62 -- territory YHOO hasn't charted since August 2000 -- and $43. Today's post-earnings price action is likely being celebrated in the options pits. Yahoo! Inc.'s 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.59 ranks in the 94th annual percentile. In other words, puts have been bought to open over calls at a near-annual-high clip.
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Published on Jul 22, 2015 at 11:24 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Commodities

By Karolin Schaps

LONDON (Reuters) - Oil prices fell on Wednesday, with U.S. crude for September hitting a contract low, as U.S. government data showed oil inventories unexpectedly rose last week and equity markets suffered from disappointing trading results.

U.S. crude oil stocks rose by 2.5 million barrels, Energy Information Administration data showed, compared with an expected 2.3-million-barrel drawdown.

With crude stocks remaining well above their five-year seasonal average, U.S. crude <CLc1> for delivery in September slipped $1.19 to a contract low of $49.67 a barrel. It was trading at $50, down 86 cents, at 1450 GMT.

"The crude oil inventory rise was driven by a strong rebound in crude oil imports, which neared 8 million barrels per day," said John Kilduff, partner at Again Capital LLC in New York.

Brent crude <LCOc1> was trading 64 cents lower at $56.40 a barrel.

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A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. REUTERS/Lucy Nicholson

Disappointing financial results from technology giant Apple resulted in weak early trading in the U.S. stock market, weighing down crude prices that were already edging lower after early signs U.S. crude stocks had risen.

A global oil glut and subsequent price drop have thus far left OPEC members cold.

Delegates from members of the Organization of the Petroleum Exporting Countries (OPEC) indicated this week they expected the price drop to be short-lived and that they would not defer from a strategy of keeping output high to maintain market share.

Pressure has been rising on OPEC states to adjust production in the face of a rise in Iranian exports once Western sanctions are loosened. A sharp fall in the Chinese stock market and fallout from the Greek debt crisis have also added to concerns about demand being strong enough to absorb high supply.

The global supply glut is also taking its toll on the products market. China's exports of diesel in August are expected to reach their highest since at least 1999 as the domestic market cannot absorb high output from refineries, sources said.

OPEC kingpin Saudi Arabia has also been stepping up exports of diesel.

 

(Additional reporting by Jacob Gronholt-Pedersen in Singapore and Robert Gibbons in New York; editing by Dale Hudson and Jason Neely)

Published on Jul 22, 2015 at 1:26 PM
Updated on Mar 19, 2021 at 7:15 AM
  • Stocks On the Move
Cult enthusiasts are most likely counting down the minutes to tonight's premier of "Sharknado 3: Oh Hell No!" on the SyFy network. While the movie is failing to make a good impression on critics, NBCUniversal parent Comcast Corporation (NASDAQ:CMCSA) is certainly making a lasting impression on the charts.

In fact, the stock topped out at a record high of $64.99 earlier. More recently, the equity was sitting 0.2% higher at $64.40 -- extending its year-over-year advance to 17.7%.

Despite the security's technical tenacity, put buyers have been increasing their presence in the equity's options pits in recent weeks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), for example, CMCSA's 10-day put/call volume ratio of 0.78 ranks in the 63rd annual percentile.

Even more telling is CMCSA's Schaeffer's put/call open interest ratio (SOIR) of 0.83, which sits higher than 73% of all similar readings taken in the past year. Simply stated, short-term speculators are more put-skewed than usual toward the stock.

Given CMCSA's longer-term technical trajectory, a portion of the recent put activity -- particularly at out-of-the-money strikes -- could be a result of shareholders protecting paper profits. In fact, the company is slated to take its turn in the earnings confessional ahead of tomorrow's open, so speculators could be initiating some post-earnings insurance.

Looking back over the past eight quarters, Comcast Corporation (NASDAQ:CMCSA) has averaged a single-session post-earnings move of 2.2% -- seven of which have been to the upside. This time around, the options market is pricing in a slightly bigger swing of 2.7%, based on the equity's near-term at-the-money straddle.
Published on Jul 22, 2015 at 2:08 PM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Update

Analysts are weighing in today on blue chip Microsoft Corporation (NASDAQ:MSFT), fast-casual restaurant chain Chipotle Mexican Grill, Inc. (NYSE:CMG), and chipmaker ARM Holdings plc (ADR) (NASDAQ:ARMH). Here's a quick roundup of today's brokerage notes on MSFT, CMG, and ARMH.

  • MSFT is off 2.7% this afternoon at $45.99, after the company posted a massive quarterly loss. Further contributing to the stock's struggles are price-target cuts at Jefferies (to $37) and Wunderlich Securities (to $50). After accounting for the slide, Microsoft Corporation is now sitting below its year-to-date breakeven mark -- yet option traders remain very optimistic. The security's 10-day call/put volume ratio across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is 2.62, which ranks in the 94th annual percentile.

  • CMG has jumped 7.8% to trade at $725.84 -- and earlier touched a record peak of $729.65 -- after the company's earnings beat. The shares are also on the receiving end of price-target hikes from Credit Suisse ($750), J.P. Morgan Securities ($750), Piper Jaffray ($740), and Deutsche Bank ($710). Thanks to this morning's bull gap, Chipotle Mexican Grill, Inc. has found its way into positive year-to-date territory. Option players have been counting on additional gains, too. CMG's 50-day ISE/CBOE/PHLX call/put volume ratio of 1.01 outranks all but 10% of comparable readings recorded in the previous year.

  • ARMH is taking its lumps today, plunging 5.7% at $45.09 -- and back in the red for 2015 -- on lackluster earnings and Apple Inc.'s (NASDAQ:AAPL) weaker-than-expected sales forecast. (AAPL is a major customer of ARM Holdings plc.) Contributing to ARMH's bearish bias is a $5 price-target cut to $50 at Topeka Capital -- though Northland Capital raised its price target to $61 from $59. On the Street, while options traders have been extremely pessimistic toward the security, the brokerage crowd is overwhelmingly positive, generally speaking. Eleven analysts have doled out "buy" or better endorsements on ARMH, versus one "hold" and a pair of "strong sells." Also, the stock's consensus 12-month price target of $58.25 registers in uncharted territory.

For other stocks in analysts' crosshairs, read Analyst Upgrades: GoPro, Inc., Ambarella Inc, and Exxon Mobil Corporation and Analyst Downgrades: Peabody Energy Corporation, Lifelock Inc, and Yahoo! Inc.

Published on Jul 23, 2015 at 8:09 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Overseas Trading
Asian markets ended higher, with China's Shanghai Composite posting its sixth consecutive daily gain. Specifically, the index jumped 2.4% amid optimism over the government's ongoing efforts to stabilize the market. Meanwhile, Japan's Nikkei added 0.4% on encouraging trade data, Hong Kong's Hang Seng tacked on 0.5% amid strength in casino stocks, and South Korea's Kospi inched just 0.02% higher following weaker-than-expected second-quarter growth data.

European bourses are mostly lower amid a raft of earnings, following the Greek parliament's passage of reforms necessary to secure bailout funds. At midday, Germany's DAX has lost 0.3%, the French CAC 40 is 0.04% lower, and London's FTSE 100 is flat.


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Published on Jul 23, 2015 at 9:23 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Buzz Stocks

U.S. stocks could extend their recent losses today, as earnings season fails to impress. In company news, today's stocks to watch include sports apparel designer Under Armour Inc (NYSE:UA), financial firm Bank of America Corp (NYSE:BAC), and healthcare concern CIGNA Corporation (NYSE:CI)

  • UA is poised to open at an all-time high, after the company topped expectations in the earnings confessional and upped its full-year sales forecast once again. Specifically, the shares are up 3.2% in pre-market trading, after finishing at $89.37 yesterday. This expected technical milestone could have short sellers shaking in their boots. Over 8% of Under Armour Inc's float is sold short, which would take more than eight sessions to repurchase, at the stock's typical daily volumes. In other words, there's plenty of sideline cash available to boost UA to even higher highs.

  • BAC Chief Financial Officer Bruce Thompson is stepping down, and will be replaced by Paul Donofrio, headlining a round of upper management changes. On the charts, the stock hit a five-year high of $18.48 yesterday, before settling at $18.45 -- up 3.1% in 2015. Skepticism is running high in Bank of America Corp's options pits, however. During the last 50 days on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity has racked up a put/call volume ratio of 0.24 -- higher than nearly three-quarters of comparable readings from the past year. In other words, speculators have been buying to open BAC puts over calls at an accelerated clip.

  • Finally, Anthem Inc's (NYSE:ANTM) $48 billion acquisition of CI -- roughly $188 per share -- could be announced by week's end, according to inside sources. The rumblings have CIGNA Corporation poised to gap 5% higher at the open. Longer term, the stock has been a beast, surging close to 47% year-to-date at $151.07, and perched atop its 10-week moving average. Option bulls should be happy. CI's 10-day ISE/CBOE/PHLX call/put volume ratio of 7.57 ranks in the 86th percentile of its annual range.

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Published on Jul 23, 2015 at 9:24 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Upgrades

Analysts are weighing in today on storage device specialist SanDisk Corporation (NASDAQ:SNDK), integrated circuit issue Cirrus Logic, Inc. (NASDAQ:CRUS), and cybersecurity stock Fortinet Inc (NASDAQ:FTNT). Here's a quick roundup of today's bullish brokerage notes on SNDK, CRUS, and FTNT.

  • SNDK is up 12% in electronic trading, after the company's second-quarter profit roughly doubled the average analyst estimate. Adding to the bullish buzz are upgrades to "buy" at B. Riley and BofA-Merrill Lynch, as well as price-target hikes from no fewer than four brokerage firms. (Jefferies and Stifel, however, lowered their respective target prices.) Today's projected price move will provide a much-needed boost for a stock that's down nearly 45% year-to-date at $54.18 -- and fresh off a two-year low of $53.18. Against this backdrop, sentiment around the Street is skewed toward the skeptical side. In the options pits, specifically, SanDisk Corporation's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 4.11 ranks 3 percentage points from a 52-week peak.

  • CRUS -- a big supplier for struggling Apple Inc. (NASDAQ:AAPL) -- is also set to pop in the wake of a strong quarterly report, up 10% ahead of the bell. What's more, Stifel boosted its outlook on the shares to "buy" from "hold," while Northland Securities upped its price target to $45 from $44 -- territory not charted since September 2012. While the security has done well in 2015 -- up 30% at $30.71 -- CRUS has more recently pulled back to its 180-day moving average after hitting a two-year high of $38.20 in late May, and closed just north of this trendline last night. Meanwhile, short-term option speculators are more put-skewed now than at any other time in the past year -- Cirrus Logic, Inc.'s Schaeffer's put/call open interest ratio (SOIR) of 1.51 rests higher than all comparable readings taken over the last 12 months.

  • Stellar second-quarter earnings and a subsequent round of bullish brokerage notes has FTNT up 11.6% in electronic trading -- and on its way to take out its June 18 all-time peak of $44.12. Among the many names chiming in on the stock was J.P. Morgan Securities, which raised its rating to "overweight," as well as Oppenheimer and JMP Securities -- which each boosted their price targets to $55. Longer term, FTNT has rallied almost 38% year-to-date -- thanks to a rash of recent cyber attacks -- to trade at $42.30. Put players have been active, though, and at the ISE, CBOE, and PHLX, Fortinet Inc's 10-day put/call volume ratio of 4.58 arrives in the 98th annual percentile. Simply stated, puts have been bought to open over calls at a faster clip just 2% of the time within the past year.

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Published on Jul 23, 2015 at 9:54 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Downgrades

Analysts are weighing in on chipmakers QUALCOMM, Inc. (NASDAQ:QCOM) and Texas Instruments Incorporated (NASDAQ:TXN), as well as kidney disease specialist Keryx Biopharmaceuticals (NASDAQ:KERX). Here's a quick roundup of today's bearish brokerage notes on QCOM, TXN, and KERX.

  • It's been a rough ride for QCOM in 2015, down 16% at $62.40. To the delight of option traders, the equity is extending this negative price action today -- off 2.7% -- after the firm offered up a weak current-quarter forecast, and confirmed plans to explore cost-cutting measures. Also pressuring the shares is a bevy of price-target cuts, including ones from Susquehanna (to $60) and Topeka Capital (to $65). Should QUALCOMM, Inc. continue its downward trajectory, another round of bearish brokerage notes could be on the horizon. More than half of those following the shares currently maintain a "buy" or better rating, while the average 12-month price target of $74 stands at an 18.6% premium to QCOM's present price.

  • TXN also provided a lackluster third-quarter forecast, due to a "generally softer market," prompting a number of brokerage firms to downwardly revise their price targets. Included in the bunch were Baird and Deutsche Bank, which reduced their target prices to $49, and Morgan Stanley, which lowered its price target by $4 to $46. However, the stock is up 1.3% at the open to trade at $49.95 -- and pare its year-to-date deficit to 6.5%. In the options pits, short-term speculators have been more put-heavy than usual toward Texas Instruments Incorporated. Specifically, the equity's Schaeffer's put/call open interest ratio (SOIR) of 2.22 ranks in the 65th annual percentile.

  • KERX tumbled to a new annual low of $8.69 out of the gate -- and was last seen 3.9% lower at $9.17 -- after Cowen and Company cut its rating to "market perform" from "outperform." Heading into today's session, the stock had already shed about a third of its value in 2015, and short sellers have been gambling on even steeper losses. In fact, short interest surged 11.9% in the last two reporting periods, and now accounts for more than 40% of Keryx Biopharmaceuticals' available float.
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Published on Jul 23, 2015 at 12:23 PM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Update

Analysts are weighing in today on biotech Cara Therapeutics Inc (NASDAQ:CARA), tech firm F5 Networks, Inc. (NASDAQ:FFIV), and mining giant Freeport-McMoRan Inc (NYSE:FCX). Here's a quick roundup of today's brokerage notes on CARA, FFIV, and FCX.

  • Shares of CARA are blowing up, after the company released encouraging results from a Phase 2 trial of its uremic pruritus treatment. Stoking the bullish flames is a pair of price-target hikes to $27 at Needham and Janney. At last check, Cara Therapeutics Inc was up 35.7% at $21.50 -- just off an earlier annual high of $21.66. This price action stands in stark contrast to what's being witnessed on the charts of this sector peer, which is fresh off an annual low. Longer term, CARA has more than doubled in value in 2015. One group that's not being caught off-guard by the upward gap is the brokerage bunch, as 100% of analysts have doled out "strong buy" recommendations on the stock.

  • FFIV has soared 9.3% to trade at $129.50, resting just below its year-to-date breakeven mark. The positive price action is the result of an earnings beat and subsequent round of price-target hikes -- with no fewer than a dozen brokerages boosting their targets. In options land, bettors are tilted in a decisively skeptical direction. Over the last two weeks, more than three F5 Networks, Inc. puts have been bought to open for each call across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). The resultant put/call volume ratio of 3.41 sits just 9 percentage points from an annual bearish extreme.

  • FCX is continuing its collapse at midday, down 8.2% at $13.82, and fresh off a six-year low of $13.30. Sparking today's sell-off is a quarterly net loss of more than $1.8 billion, due to sinking commodity prices -- though the firm's adjusted per-share profit of 14 cents topped estimates. But that's not all -- Jefferies also hit Freeport-McMoRan Inc with a $9 price-target cut to $19. Additional bearish notes could be forthcoming, as well. After all, two-thirds of analysts currently rate FCX a "buy" or better, and its consensus 12-month price target of $24.81 stands at a nearly 80% premium to current trading levels.

For other stocks in analysts' crosshairs, read Analyst Upgrades: SanDisk Corporation, Cirrus Logic, Inc., and Fortinet Inc and Analyst Downgrades: Qualcomm, Texas Instruments Incorporated, and Keryx Biopharmaceuticals.

Published on Jul 24, 2015 at 8:08 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Overseas Trading
Stocks in Asia ended the week on a low note, following the lead of Wall Street and the commodities market. The Shanghai Composite snapped a six-day winning streak, retreating 1.3% due to a steeper-than-forecast drop in the preliminary China Caixin purchasing managers index (PMI). Japan's Nikkei shed 0.7% after the International Monetary Fund (IMF) urged the Bank of Japan to "stand ready to ease further, provide stronger guidance to markets through enhanced communication, and put greater emphasis on achieving the 2% inflation target in a stable manner." Meanwhile, Hong Kong's Hang Seng and South Korea's Kospi fell 1.1% and 0.9%, respectively.

European bourses are just barely higher at midday, despite weakness in commodities, mixed earnings, and a retreat in Markit's flash eurozone PMI. At last check, London's FTSE 100 is up less than 0.1%, the French CAC 40 has added 0.4%, and Germany's DAX is a mere 0.01% higher.

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Published on Jul 24, 2015 at 9:19 AM
Updated on Mar 19, 2021 at 7:15 AM
  • Analyst Upgrades

Analysts are weighing in on e-commerce concern Amazon.com, Inc. (NASDAQ:AMZN), java giant Starbucks Corporation (NASDAQ:SBUX), and networking communications specialist Juniper Networks, Inc. (NYSE:JNPR). Here's a quick roundup of today's bullish brokerage notes on AMZN, SBUX, and JNPR.

  • It's poised to be a record-setting day for AMZN, with the shares up 22% in electronic trading. Today's bullish backdrop comes courtesy of the firm unexpectedly banking a second-quarter profit and a subsequent round of upbeat analyst notes. Among those chiming in on the stock were B. Riley -- which boosted its outlook to "buy" from "neutral" and its price target to $646 from $428 -- and Barclays, which raised its rating to "overweight" from "equal weight" and its target price to $700 from $412. Heading into today's trading, the stock was already boasting an impressive 55.4% year-to-date lead to trade at $482.18 -- and the options market was pricing in a much slimmer post-earnings move. Regardless, option traders should be pleased with this projected move. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Amazon.com, Inc.'s 10-day call/put volume ratio of 1.21 ranks in the 65th annual percentile, meaning calls have been bought to open over puts at a faster-than-usual clip.

  • SBUX is also set to explore uncharted territory today, after the firm unveiled better-than-expected fiscal third-quarter earnings, as well as a new buyback program. As we suspected earlier this month, a bevy of brokerage firms boosted their price targets on SBUX, including Wedbush (to $70), Guggenheim (to $68), and Barclays (to $54), with the latter remarking it was "among the strongest and most remarkable quarters" for the company. Specifically, after closing last night at $56.56 -- its highest settlement to date -- the shares are up 5.5% ahead of the bell. Should Starbucks Corporation extend this momentum, a mass exodus of option bears could help fuel the stock's fire. The security's 10-day ISE/CBOE/PHLX put/call volume ratio of 0.67 ranks higher than 75% of all similar readings taken in the past year.

  • Not to be left out, JNPR is eyeing an 8% pop out of the gate -- and a move to levels not seen since January 2014 -- thanks to a strong showing in the earnings confessional, a fresh share repurchase plan, and a round of upbeat analyst notes. MKM Partners, for example, raised its rating to "neutral" from "sell" and its fair value to $28 from $22. Cantor, meanwhile, upped its price target to $36 from $31, territory not seen in more than four years. Another round of upgrades and/or price-target hikes could come down the pike, should Juniper Networks, Inc. continue to add to its nearly 19% 2015 gain. Roughly 64% of analysts maintain a "hold" or worse suggestion, while the average 12-month price target of $26.02 stands at a discount to Thursday's close at $26.49.
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