The U.S. has experienced historic levels of rainfall in 2019, and some on Wall Street see this as bad news for the boating business. Brokerage firm RBC this morning downgraded boat producer Brunswick Corporation (NYSE:BC) to "sector perform" from "outperform," and lowered its price target to $47 from $55. The analyst note said that dealers will likely be hesitant to take in new orders as they try to unload their inventory going into 2020. While RBC likes BC stock in the long term, these near-term weather issues could keep the shares range bound, the note said.

The equity has already had a rough stretch on the charts, falling from a September peak around $69 to almost $41 last month. The shares have been trading below their 50-day moving average since early May, last seen trading at $45.62.

Despite this technical weakness, analysts are very upbeat on the marine products specialist. By the numbers, 11 of the 14 covering firms recommend buying the security, and the average 12-month price target is all the way up at $64.14.

And while options activity overall is relatively quiet on Brunswick, sentiment seems bullish among speculators, as well. This is because peak open interest of 3,060 contracts is at the September 50 call, and most of these options crossed at the ask price, suggesting they were bought to open. If that's the case, these traders are hoping BC shares rise above $50 in the months ahead.

The shares of Biogen Inc (NASDAQ:BIIB) are up 0.9% at $236 after the firm said its spinal muscular atrophy treatment Spinraza was well tolerated in patients with the disease, with many seeing "unprecedented" motor milestones. The study also reported that 100% of children who participated were able to sit without assistance and 88% were able to walk. 

BIIB has taken a serious beating on the charts since suffering a massive bear gap in March. The stock hit a two-year bottom of $216.12 on March 25, but has since managed to consolidate atop the $220 level. The equity is still down 21% year-to-date, however. 

Analysts have been cautious on the stock, with 17 of the 24 considering it a "hold." Plus, the consensus 12-month target price of $252.81 is only at an 8.1% premium to current levels. Should some of these gains hold, however, a round of upgrades could put even more wind at BIIB's back. 

Options bulls, on the other hand, have been slightly more hopeful. BIIB sports a 10-day call/put volume ratio of 2.46 on the International Securities Exchange (ISE), Chicago Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio sits in the 86th percentile of its annual range, which indicates a much healthier appetite for calls over puts of late. 

Stocks are trading at all-time highs today thanks to the positive trade developments between the U.S. and China. Three names making big moves are financial data provider Cardlytics Inc (NASDAQ:CDLX), cosmetics concern Coty Inc (NYSE:COTY), and amusement park operator Six Flags Entertainment Corp (NYSE:SIX). Here's how the shares of CDLX, COTY, and SIX are trading today.

Bull Note Sends CDLX Shares to New High

CDLX shares are trading up 8.5% this afternoon at $28.20, earlier hitting an all-time high of $29.24, after William Blair began coverage with an "outperform" rating. The analyst note predicted the company to increase its monthly active users to 150 million from 58.5 million by the end of 2019.

This just extends what's been a huge year for Cardlytics, which came into 2019 trading just below $11. Today's price action also puts the shares above their average 12-month price target of $25.40, suggesting there's now room for more bull notes. Short covering could also provide tailwinds, since 14.5% of the total float is dedicated to short interest.

COTY Sells Off on Restructuring Plan

COTY stock is one of the biggest losers on the Street today, sliding 15% to trade at $11.40, after the company unveiled a four-year restructuring plan that includes writing down $3 billion in assets. This puts the shares back to the region where they initially consolidated after JAB Holding offered to increase its stake in the company back in February. As such, Coty is still holding a year-to-date lead of almost 75%.

Options traders seem well positioned for today's pullback, based on data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). The 10-day put/call volume ratio here is 2.47, and ranks in the 94th annual percentile, showing unusual demand for put buying in recent weeks.

KeyBanc Bets on SIX Stock Breakout

Six Flags stock is rallying today after a bull note out of KeyBanc. The brokerage firm upgraded its opinion to "overweight" from "sector weight," and set a $62 price target, citing credit card data that pointed to strong attendance trends for the company. The analyst note also pointed to the fact that last year's third quarter was particular weak, opening up favorable comps for the company in the next earnings report, and said that the company is making progress on new locations in China.

Despite the pop today, the shares are still in a long-term downtrend, facing a year-over-year deficit of 30%. Considering this, it's somewhat surprising to see eight of the 12 covering analysts have "strong buy" recommendations on SIX.

Amarin Corporation plc (NASDAQ:AMRN) stock is trading up 6.8% at $20.55 this morning, after the cardiovascular disease specialist said it expects 2019 revenue to arrive between $380 million and $420 million -- up from the previous $350 million estimate -- on improved expectations for Vascepa, with a Food and Drug Administration (FDA) expected to vote on possible expansion of the heart drug's label by the end of this quarter.

Today's upside puts AMRN shares above short-term congestion in the round $20 region. The drug stock has gained 47% year-to-date, with its recent chop higher supported by its 180-day moving average.

Options traders have been targeting the $20 level, too, with the July 20 call one of AMRN's most heavily populated strikes. Data points to a mix of buying and selling here, with those purchasing the calls betting on a breakout above $20, while those writing the calls expecting the level to serve as a near-term ceiling.

It's certainly a more attractive time to buy premium on short-term Amarin options, versus sell it. The stock's Schaeffer's Volatility Index (SVI) of 56% ranks in the bottom percentile of its annual range, meaning front-month contracts are pricing in unusually low volatility expectations at the moment.

The shares of Roku Inc (NASDAQ:ROKU) are down 3.7% to trade at $89.04 this morning, after some bearish analyst attention from RBC. The brokerage firm downgraded the streaming stock to "sector perform" from "outperform," while maintaining its price target of $90. The analyst in coverage is still bullish on ROKU long term, and said it "would be constructive again on any major stock pullback."

Roku stock has almost tripled year-to-date, culminating in a record high $108.32 on June 20. A recent retreat from here appears to be stalling near a 38.2% Fibonacci retracement of the stock's April through June rally, and should the shares bounce from here and resume their longer-term uptrend, an unwinding of skepticism could create tailwinds.

For starters, the 6.99 million shares sold short represents a healthy 8.6% of ROKU's total available float. Plus, seven of the 15 brokerages covering ROKU rate it a "hold" or "strong sell," while its consensus 12-month price target of $83.63 is a discount to its current perch. 

Meanwhile, options can be had for a bargain at the moment. The streaming stock's Schaeffer's Volatility Index (SVI) of 51% stands higher than only 7% of all other readings from the past year. This means near-term options are pricing in relatively low volatility expectations at the moment.

Healthcare stocks experienced volatile trading earlier this year as political leaders ramped up their push for Medicare for All in the U.S. While this issue could again be thrust into the headlines as the 2020 presidential election heats up, one brokerage firm believes it's identified HCA Healthcare Inc (NYSE:HCA) as a name that can withstand the sector uncertainty.

Specifically, SVB Leerink this morning released a note in which it said it's "very bullish" on the security, though it failed to provide a rating or price target. The firm said any weakness from talk of Medicare for All or drug pricing changes will only be a buying opportunity, calling attention to the company's "balanced capital deployment strategy." Leerink mentioned the announcement yesterday that HCA bought 24 urgent care centers in Texas.

Digging into the data around the healthcare stock, there was heavy put buying during the past 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), where the shares sport a 10-day put/call volume ratio of 6.08, which ranks in the 94th annual percentile.

However, it appears most of this activity was at the now-expired weekly 6/28 130-strike put. While near-term put open interest still outweighs call open interest based on the Schaeffer's put/call open interest ratio (SOIR) of 1.04, the annual percentile rank of 37% shows this reading is actually less put-skewed than normal. Peak open interest in the front-month July series sits at the 120 put.

On the charts, HCA shares were last seen trading at $133.98, below the $140-$144 region that's acted as a ceiling in the past year, though they're trading right above the 200-day moving average. Most analysts are already bullish, with 15 of 19 handing out "buy" or "strong buy" recommendations.

Healthcare stock Intuitive Surgical Inc (NASDAQ:ISRG) is slightly lower this morning on a comment from BTIG. The analyst predicted the firm's monopoly over the robotic surgery market may end in the coming years amid stiff competition from the likes of UK-based robotics firm CMR Surgical, which could receive Food and Drug Administration (FDA) approval for its Versius robot within two years. However, BTIG believes Intuitive will remain the market leader for the next five to 10 years. ISRG is set to snap its three-day win streak, down 0.4% to trade at $526.71. 

On the charts, the shares of ISRG have been attempting a comeback since gapping lower in late April, following an unimpressive earnings report. The stock subsequently bottomed out at a four-month low of $458.27 in early June. Lately the security has managed to find its footing atop its 60-day moving average, but has petered out at the $533 level several times in recent weeks.  

The majority of analysts are still incredibly bullish on the stock, with 13 of the 16 in coverage calling it a "strong buy." The consensus 12-month target price of $577.81, however, holds just a 9.7% premium to current levels. 

Options traders have taken an optimistic stance, too, with 1.47 calls bought for every put on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) during the last 50 days. This ratio sits in the 77th percentile of its annual range, suggesting a healthier than usual appetite for bullish bets of late. 

U.S. stocks are struggling to gain momentum today due to trade tensions. Meanwhile, three names making big moves are online retailer Revolve Group (NYSE:RVLV), drugmaker Dova Pharmaceuticals Inc (NASDAQ:DOVA), and auto retailer Cars.com Inc (NYSE:CARS). Here's a breakdown of what's moving the shares of RVLV, DOVA, and CARS.

Analysts Scramble to Issue Bull Notes on RVLV

RVLV stock broke out initially after its early June initial public offering (IPO), trading as high as $48.36 on June 19. The shares quickly pulled back to consolidate in the $32-$35 range for a few sessions, but today they're breaking out of that range, up 9.4% at $35.88. The move was sparked by a rush of analyst notes, as the stock's blackout period comes to an end. Almost all of the analyst notes were positive, with several analysts citing the company's path to profitability and its use of e-commerce data. The highest price target came from Jefferies, which called for a move to $60.

Options trading has picked up on Revolve, with new positions opening at the July 35 and 40 calls. Those buying the contracts are wagering on the security extending its upside through the next few weeks.

Bullish Betting Spikes After DOVA Jumps Again

DOVA stock is extending its recent run higher, after Evercore ISI upgraded its opinion to "outperform" from "in line," citing the recent Food and Drug Administration (FDA) decision for the company's blood disorder treatment Doptelet. The shares were last seen trading up 14% at $16.30, setting them up for their highest close since November. At the same time, the equity was trading above $30 this time last year.

So far today more than 2,100 calls have traded, compared to a daily average of just 594. It appears traders are closing positions at the deep in-the-money July 10 call, while other bulls could be buying the August 17.50 call.

Another Analyst Says to Buy Cars.com

Citigroup upgraded its stance on CARS shares to "buy" from "neutral," saying the stock's valuation looks too low even with the potential for a buyout -- something that was rumored at the beginning of 2019. The security is trading 5.6% higher at $20.98, but remains firmly in its long-term downgrade, topping out just below the 80-day moving average that has served as resistance since March. Oddly enough, Citi's rating matches the general opinion on the Street, where five of six covering firms say the underperforming equity is a "strong buy."

Call traders are also hammering Cars.com today, with the contracts crossing at four times the expected pace. A large chunk of the activity has taken place at the August 22.50 call, where new positions are being opened.

Canopy Growth Corp (NYSE:CGC) stock is down 3.5% in electronic trading, after the cannabis company said Bruce Linton is exiting his roles as co-CEO and board member, effective immediately. In an interview with CNBC, Linton said he was "terminated," as CGC hands over 100% of the top responsibilities to Mark Zekulin, who had been serving in the co-CEO spot.

Should today's pre-market price action pan out, CGC stock could be testing support in the $38.25 region -- a familiar floor that coincides with a 50% Fibonacci retracement of the equity's rally from late December through early February. And while the shares have pulled back since their April 30 six-month high of $52.74, they remain up 49.2% year-to-date, through last night's close at $40.08.

Options traders are betting on a quick bounce for the weed stock. The July 50 call has seen the biggest increase in open interest over the last 10 days with 6,444 contracts added, and data from the major options exchanges confirms significant buy-to-open activity here. In other words, bulls are targeting a breakout above the round $50 mark by expiration at the close on Friday, July 19.

It's certainly an attractive time to purchase premium on CGC. The stock's Schaeffer's Volatility Index (SVI) of 37% arrives lower than 99% of all comparable readings taken over the past year, meaning short-term options are pricing in relatively low volatility expectations at the moment.

A big winner on Wall Street this morning is Symantec Corporation (NASDAQ:SYMC), up 15.3% to trade at $25.49, and earlier nabbing a new annual high of $25.53. This comes after a Bloomberg report suggested semiconductor concern (AVGO) was in advanced talks to buy Symantec. An analyst at Wedbush called it a "golden time" for the cybersecurity firm to consider a sale. 

This is on track to be Symantec stock's best day since July 2001, and could extend its winning streak to six. SYMC sold off sharply in May after a profit warning, but bounced from familiar support at the $17.50 level. And thanks to today, the security has filled that steep early May bear gap. For perspective, the equity is heading toward its fifth straight weekly win, and turned in only five negative sessions in all of June.

For a stock that even prior to today had gained 17% year-to-date, analysts sure are skeptical. Roughly 89% of the brokerages covering SYMC rate it a "hold" or "sell," while its average 12-month price target of $20.61 is a discount to last night's closing perch of $22.10. 

Meanwhile, options are an intriguing avenue to bet on the red-hot cybersecurity stock. Its Schaeffer's Volatility Index (SVI) of 26% stands higher than only 3% of all other readings from the past year, which means near-term options are pricing in relatively low volatility expectations at the moment.

The shares of Merck & Co, Inc. (NYSE:MRK) have had a huge year, riding the tailwinds from the company's blockbuster cancer drug Keytruda. The drug is one reason another analyst is saying the stock is a buy, with Mizuho beginning coverage with a "buy" rating and Street-high $97 price target. The brokerage note suggested Keytruda should help drive margin expansion for MRK.

Nine of the 11 covering brokerage firms already had "buy" or "strong buy" recommendations on the Dow component, and some of these analysts have given the security a top pick designation. The shares are quickly approaching their average 12-month price target of $90.66, though, meaning more analysts could be compelled to release bull notes in the near future.

Looking closer at the charts, MRK stock was last seen trading at $86.23, putting its year-over-year return at roughly 41%. The shares found strong support at their 200-day moving average back in April, and hit an 18-year high of $86.84 this morning. For those interested in speculating on Merck, the equity's Schaeffer's Volatility Index (SVI) of 14% ranks in the low 8th annual percentile, pointing to low volatility expectations at the moment.

Some traders are apparently taking advantage of these attractive premiums, with puts crossing at an accelerated rate this morning. Most popular is the July 85.50 put, where buy-to-open activity seems to be taking place.

Elsewhere in the pharma space, there was also some analyst attention on Abbvie Inc (NYSE:ABBV) and Allergan plc (NYSE:AGN) after the companies announcement of a buyout deal last month. For ABBV, Evercore ISI cut its price target to $93 from $110, though this still represents a big premium from the shares' current price of $74.33. The equity gapped lower following the M&A news, bottoming at $65.06 the same day, but it's notched five straight wins since. As for AGN, SunTrust Robinson upped its price target to $185 from $170. The shares have kept grinding higher since the buyout news hit, last seen trading at $169.68.

The shares of automaker Tesla Motors Inc (NASDAQ:TSLA) are soaring this morning, after the company's second-quarter production and delivery numbers shot past Wall Street's expectations and shattered previous records. While the stock is eyeing its biggest swing in over a month, up 6.7% at $239.50, analysts are sharing mixed sentiment. Baird said the "deliveries are sustainable," while Hargreaves Lansdown said it would "remain cautious for now," given TSLA's "history of significant swings in performance from quarter to quarter." 

While the brokerage bunch has held steady on its ratings so far, there's definitely room for upgrades, should some of these gains hold steady. While eight still call TSLA a strong buy, five "hold" ratings and nine "sell" or worse ratings are still on the table. Independent Research raised its price target to $195 from $185 despite keeping its "sell" rating.

While TSLA recently bottomed out at two-year lows on June 3, the stock has staged a strong rally off its bottom, with an 8.2% surge the next day. While the equity recently ran out of steam beneath its $230 region, today's pop has it trading at seven-week highs and pacing for its first close atop its 60-day moving average -- which has acted as pressure for the security of late -- for the first time since its late-January pre-bear gap levels. Plus, the shares of Tesla stock are eyeing their straight fifth weekly win, the stock's longest streak since November. 

While shorts have started to unwind in the past two weeks, down 5.1%, the 41.46 million shares sold short still represent 35.1% of the stock's available float. At TSLA's average pace of trading, it would take nearly four days to buy back all these bearish bets, leaving the door cracked for a short squeeze.

Options traders are already flocking to the stock, with 99,000 calls and 140,000 puts across the tape so far, two times what's typically seen at this point. The July 225 put is most popular so far where buy-to-open activity is seemingly taking place.