Analysts are weighing in today on software giant Adobe Systems Incorporated (NASDAQ:ADBE), social networking firm Facebook Inc (NASDAQ:FB), and drugmaker Eli Lilly and Co (NYSE:LLY). Here's a look at today's bullish brokerage notes on ADBE, FB, and LLY.

• Shares of ADBE have shed more than 1% in pre-market action, with traders reacting to a downbeat current-quarter forecast. Analysts at Pacific Crest remain upbeat on the tech company's prospects, though, with the firm increasing its price target to $90 from $85 and backing its "overweight" rating. The new target implies expected upside of 12.6% from ADBE's Tuesday close at $79.94. Meanwhile, with Adobe Systems Incorporated shares up about 10% year-to-date -- but churning around familiar resistance in the $80 area -- traders turned skeptical ahead of last night's earnings report. One of the most popular puts in the front-month series is the deep out-of-the-money June 75 strike, with the major options exchanges reporting that most of the 4,448 contracts in residence here were bought to open.


• Brean hiked its price target on FB to $108 from $100 and reiterated a "buy" recommendation, with the firm apparently looking for the stock to blaze a trail to new highs over the next 12 months. In fact, most brokers have high hopes for FB, based on its 89% "buy" ratings and average 12-month price target of $96.15. Shares of Facebook Inc, which have advanced roughly 26% year-over-year, touched their current record peak of $86.07 back in March, and settled yesterday at $81.06. Following a bout of range-bound price action over the past month, the equity's Bollinger Bands have narrowed and are now just a few points apart -- suggesting FB may be due for a high-volatility breakout.


• With the stock hovering near 14-year highs, Piper Jaffray started coverage of LLY with an "overweight" endorsement. There could be more bullish notes in store for the outperforming drug stock, as LLY's average 12-month price target of $80.47 stands at a 5.1% discount to Tuesday's finish at $84.78. That said, the security has been edging primarily sideways this week, as it waits for short-term support at its 10-day moving average to catch up with its breakout progress. As of last night's close, the 14-day Relative Strength Index (RSI) for Eli Lilly and Co still stood in overbought territory, at 74 -- suggesting the shares may continue to cool their heels for a while longer before attempting another leg higher.

Analysts are weighing in today on health care giant Merck & Co., Inc. (NYSE:MRK), energy infrastructure firm Kinder Morgan Inc (NYSE:KMI), and cosmetics marketer Coty Inc (NYSE:COTY). Here's a quick roundup of today's bearish brokerage notes on MRK, KMI, and COTY.

• With half of covering analysts issuing "hold" ratings on the stock, MRK is no stranger to bearish attention. This morning, Piper Jaffray decided to join the skeptical bunch, initiating coverage with an "underweight" assessment. The shares are only 1.6% higher in 2015 -- last seen at $57.71 -- but could see support from their 80-week moving average, a trendline that's helped them since late 2013. Option traders certainly expect big things from Merck & Co., Inc. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day call/put volume ratio of 3.77 ranks higher than 86% of readings from the past year.


• KMI has been charting a path lower since its all-time high of $44.71 on April 24, dropping 11.7% to hit $39.49. However, the stock is actually gaining in electronic trading -- up 0.8% -- despite a price-target cut at Jefferies to $43. Even though 88% of analysts consider Kinder Morgan Inc a "buy" or better, option traders appear uncertain. The security's Schaeffer's put/call open interest ratio (SOIR) stands at 0.86, which only 2 percentage points away from an annual put-skewed extreme.


• COTY has dropped 1.5% in pre-market action, after Citigroup lowered its outlook to "neutral." This is somewhat surprising, since the shares have topped the S&P 500 Index (SPX) by 27.8 percentage points in the past three months. Yesterday, in fact, the stock gapped higher on a trio of acquisitions to touch an all-time high of $31.29, before settling at $31.08. In Coty Inc's option pits, traders are betting on more upside. During the past two weeks, almost 1,600 calls have been bought to open at the ISE, CBOE, and PHLX, versus just 108 puts.

Among the companies about to step up to the earnings plate are software issue Oracle Corporation (NYSE:ORCL), grocery chain Kroger Co (NYSE:KR), and pharmacy concern Rite Aid Corporation (NYSE:RAD). Below, we'll take the pre-earnings temperature of ORCL, KR, and RAD. 

• ORCL will unveil its fiscal fourth-quarter figures after the close today. The stock has averaged a single-session post-earnings move of 4.6% over the last eight quarters, and reacted positively after its last two reports. This time, the options market is pricing in a 3.9% swing in either direction, judging by the security's short-term at-the-money (ATM) straddle. On the charts, Oracle Corporation has sashayed steadily higher over the past two years, but has spent most of 2015 bumping up against resistance in the $45 neighborhood. The shares were last seen near breakeven at $44.64, but option buyers might be banking on a breakout. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day call/put volume ratio of 2.38 stands higher than 79% of all other readings from the past year, reflecting a healthier-than-usual appetite for long calls over puts during the past 10 weeks.

• KR is scheduled to report first-quarter earnings bright and early tomorrow. The stock has enjoyed four straight positive earnings reactions, advancing 6.7% in the session after its last earnings report. Over the past eight quarters, Kroger Co has averaged a one-day move of 3.6%, and option traders this go-round are pricing in a 3.9% move, according to the equity's short-term ATM straddle. The shares have taken a breather since touching an all-time high of $77.74 in mid-March, and were last seen in the $72.91 vicinity. Another strong earnings showing could shake loose some of the recent option bears, as the stock's 10-day ISE/CBOE/PHLX put/call volume ratio of 0.52 registers in the 82nd percentile of its annual range. A mass exodus of skeptics could send KR to its next high.

• Finally, RAD will also report first-quarter earnings ahead of the bell tomorrow. The stock has made some dramatic post-earnings moves in both directions during the past eight quarters, averaging a one-day reaction of 10.7%. Option players are pricing in a much milder swing of 5.9% this time, judging by Rite Aid Corporation's short-term ATM straddle. On the charts, RAD has advanced 18.4% in 2015, and was last seen at $8.90 -- just a stone's throw from its 14-year peak of $9.07, tagged in early April. In fact, the shares hit an intraday high of $9.06 today. While option buyers have been picking up bullish bets at a quicker-than-usual step -- the equity's 10-day ISE/CBOE/PHLX call/put volume ratio of 5.4 is higher than 68% of all other readings from the past year -- an unwinding of short interest in the wake of an earnings win could propel RAD even higher.

With domestic equities off to a strong start today, several names are hitting new highs, including coffee giant Starbucks Corporation (NASDAQ:SBUX), as well as biotech concerns Neurocrine Biosciences, Inc. (NASDAQ:NBIX) and Prothena Corporation PLC (NASDAQ:PRTA). Here's a look at what has SBUX, NBIX, and PRTA moving higher. 

• SBUX touched an all-time peak of $53.47 earlier, and was last seen 0.3% higher at $53.13, after the company announced it will be closing all of its La Boulange bakery stores. The shares have been relentless this year, tacking on 29.5%, thanks in part to a mass exodus of bearish traders. Specifically, since the start of the year, short interest on Starbucks Corporation has been cut nearly in half. Elsewhere, option traders foresee more upside, as 3.37 calls have been bought to open for every put during the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). 


• NBIX is benefiting from a price-target hike at Baird, which set its mark at $54 -- territory the stock hasn't explored in nine years. The brokerage firm also underscored its "outperform" opinion. The shares have already hit their highest point in that time span earlier, touching $47, but were last seen at $45.97, gaining 1.5% on the day. It's nothing new to see analysts backing Neurocrine Biosciences, Inc., as all seven brokerage firms tracking the security say it's a "strong buy." Others on the Street don't share this enthusiasm. The 7.4% of NBIX's float that's sold short represents over seven sessions' worth of trading, at the security's normal daily volume. 


• Month-to-date, PRTA has added nearly 32%, including today's 11% pop to trade at $51.87. Moreover, the stock earlier hit an all-time high of $52.98, and is sitting near the top of the Nasdaq winner list, after the company reported strong clinical results for its Parkinson's disease drug, PRX002.  This is probably good news for Prothena Corporation PLC option traders, as close to 800 calls have been bought to open on the ISE, CBOE, and PHLX during the past two weeks, compared to just 13 puts. 

Among the stocks preparing to unveil earnings are software concern Adobe Systems Incorporated (NASDAQ:ADBE), breakfast baron Bob Evans Farms Inc (NASDAQ:BOBE), and package maven FedEx Corporation (NYSE:FDX). Below, we'll take the pre-earnings temperature of ADBE, BOBE, and FDX.

• ADBE has generally been strong following its earnings reports in the past, posting positive post-earnings sessions after five of its last eight reports. When the company reported in mid-March, though, the stock gave back 3.5% in the subsequent session. Ahead of the firm's earnings release this evening, the options market is pricing in a 5.6% swing for Adobe Systems Incorporated, based on straddle data. Traders have been turning bearish ahead of the event. For one, ADBE's 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) comes in at 1.37, higher than 82% of readings from the past year. Plus, short interest increased over 31% during the most recent two-week reporting period. All of this comes despite the security's 9.8% year-to-date rise to hover near $79.81 -- within striking distance of its late-May all-time peak of $80.74.


• BOBE's fiscal fourth-quarter numbers will be released after the close today, and shareholders are hoping things go better than the last two times the company reported, when shares dropped a respective 22.3% and 14.1% in the subsequent session. This time around, the options market is pricing in an 8.9% post-earnings swing -- relatively in line with the stock's historical moves. Also, Bob Evans Farms, Inc.'s short-term options are trading at relatively normal prices ahead of the event, from a volatility perspective. This, according to BOBE's Schaeffer's Volatility Index (SVI) of 40%, which lands in the middling 49th percentile of its annual range. At last check, the stock is 0.1% lower at $47.79.


• From a long-term technical outlook, FDX has been strong, adding almost 30% year-over-year to trade at $181.85 -- and approaching last week's record high of $185.19. Option traders expect more gains in the near term, as call buying has been popular ahead of the company's fiscal fourth-quarter earnings release, scheduled for tomorrow morning. FedEx Corporation's 10-day ISE/CBOE/PHLX call/put volume ratio has jumped to 1.54 from 0.49 since the start of June -- which ranks in the 69th annual percentile. The market is expecting a 3.1% end-of-week swing after FDX reports, which is more or less in line with its recent post-earnings performances. That is, it's averaged a 2.7% single-session move following its last eight earnings releases. 

Analysts are weighing in on industrial equipment manufacturer Oshkosh Corporation (NYSE:OSK), drugmaker Eagle Pharmaceuticals Inc (NASDAQ:EGRX), and cybersecurity specialist Fortinet Inc (NASDAQ:FTNT). Here's a quick roundup of today's brokerage notes on OSK, EGRX, and FTNT.

• A downwardly revised full-year profit forecast prompted J.P. Morgan Securities to cut its price target on OSK to $44 from $46. As such, the shares are down 8.1% today at $46.22 -- and back in the red on a year-to-date basis. Considering the stock was staring at a nearly 6% 52-week deficit heading into today's session, option traders have been skeptical of OSK. In fact, the security's Schaeffer's put/call open interest ratio (SOIR) of 4.13 rests at an annual peak, meaning short-term speculators are more put-heavy now than they've been at any other point during the past year. Today, puts are trading at three times the average intraday pace, with buy-to-open activity detected at Oshkosh Corporation's July 45 strike.


• Unlike fellow drugmaker Avalanche Biotechnologies Inc (NASDAQ:AAVL), EGRX is having a great day. The stock hit a record high of $82.86 earlier -- and was last seen up 5.1% at $80.91 -- after Cantor Fitzgerald boosted its price target on the shares to $95 from $65. Specifically, the brokerage firm said it expects "less near-term generic competition to the company's 50 mL form of Treanda following a favorable Markman decision in Teva's generic litigation." Longer term, the shares have surged more than fivefold in 2015 -- and an extended rise could prompt a batch of bullish brokerage initiations or another round of price-target hikes. In fact, just three analysts follow the shares (each of which maintain a "strong buy"), and the average 12-month price target of $76.33 stands at a discount to Eagle Pharmaceuticals Inc's present price.


• Cybersecurity stocks have been on fire recently, and today, it's FTNT's turn in the spotlight. The equity topped out at an all-time peak of $42.35 not that long ago, after Oppenheimer raised its price target to $46 from $39 and upped its second-quarter revenue forecast, saying "FTNT's business is tracking ahead of guidance." More recently, the stock was up 2.9% at $42.27 -- extending its year-to-date lead to an impressive 38%. On the sentiment front, most analysts are already on the bullish bandwagon, with two-thirds of those covering the shares maintaining a "buy" or better rating. However, with Fortinet Inc's consensus 12-month price target of $42.12 sitting below current trading levels, additional upwardly revised price targets could be on the horizon. Looking ahead, the company will host its annual shareholder meeting on Friday.

When it comes to picking stocks, some people gravitate toward lower-priced names -- often called "penny stocks" -- for their affordability and the potential for big upside. With that in mind, we decided to take a look at three stocks under $5 with the potential to rally -- drugmaker Acura Pharmaceuticals, Inc. (NASDAQ:ACUR), tech issue Neonode, Inc. (NASDAQ:NEON), and "FarmVille" parent Zynga Inc (NASDAQ:ZNGA).

• ACUR is surging today, up more than 22% at $1.01, and fresh off an annual high of $1.35, thanks to a licensing and development agreement with Bayer Healthcare LLC. In fact, the shares have now more than doubled on a year-to-date basis. However, there's plenty of potential for Acura Pharmaceuticals, Inc. to sustain its momentum, considering current short interest levels. During the most recent reporting period, short interest nearly quadrupled, and would take more than eight sessions to buy back, at ACUR's average daily trading levels.


• Despite being down 3.6% this afternoon at $3.44, NEON has been in rally mode since touching a multi-year low of $1.72 in mid-October -- doubling over that time frame. Also, the stock is consolidating atop its supportive 100-day moving average, from which it bounced in mid-March. Should Neonode, Inc. continue to trek higher, short sellers may be forced to hit the exits, creating tailwinds. Specifically, 22.5% of NEON's float is sold short, representing over four weeks' worth of pent-up buying demand, at typical daily volumes.


• ZNGA is up 12% in 2015 to trade at $2.98, and has been consolidating around the $3 level in recent weeks. Nonetheless, 13 of 17 analysts tracking the shares consider them a "hold" or worse. In other words, the door is wide open for potential bullish brokerage notes to intensify buying power. What's more, at Zynga Inc's average pace of trading, it would take one week to repurchase all of its shorted shares -- meaning short-covering activity could serve as another catalyst higher.

It's been a rough few days for the Dow (today notwithstanding), but data suggests there may be upside potential for some of its components. Namely, Goldman Sachs Group Inc (NYSE:GS) and Visa Inc (NYSE:V) could present contrarian opportunities, given the amount of pessimism surrounding them.

Starting with GS, the shares have been in a steady uptrend since early February, thanks in part to support from their 10- and 40-day moving averages. (In fact, this technical strength has been witnessed throughout the financial sector.) Moreover, the security has outpaced the broader S&P 500 Index (SPX) by almost 11 percentage points during the past 60 sessions. 

Many on the Street are overlooking these gains, though, as analysts remain stubbornly in the bears' camp. There are 14 brokerage firms with coverage on GS, and 11 of them say it's a "hold" or worse. They've also been slow to update their price targets, as the stock's consensus 12-month price target comes in at $212 -- a discount to today's price of $213.29. 

It's not just analysts, as traders have been placing bearish bets at an accelerated clip recently. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), GS' 50-day put/call volume ratio comes in at 0.90, which is higher than 95% of readings from the past year. In other words, put buying has been way more popular than normal. Additionally, short interest has continued to increase amid the stock's rise on the charts, growing over 22% during the two most recent reporting periods. 

As mentioned, Goldman Sachs Group Inc (NYSE:GS) has already been picking up steam. Should analysts or traders begin to change their tune, it could provide tailwinds for the shares. 

In a similar vein, V has been strong on the charts, up over 31% in the past 12 months, last seen at $69.16. Even as the shares have cooled off in recent months, relatively speaking, pullbacks have been contained by their rising 120-day moving average. 

Regardless, traders have decided to take a bearish stance on V recently. For instance, at the beginning of June, the stock's 10-day ISE/CBOE/PHLX put/call volume ratio stood at only 0.47, meaning calls were being bought to open at twice the rate of puts. However, the same reading now registers at 1.08, as puts have become the options of choice for buyers. Plus, the ratio stands higher than four-fifths of all similar readings from the past year. 

Even more interesting is the fact that Visa Inc (NYSE:V) has seen a decisive uptick in short interest recently, as it increased almost 10% in the past month. With almost 60 million of the equity's shares controlled by bears, short interest on V represents almost 11 days' worth of trading, at its normal daily volumes. If the shares resume their long-term uptrend, a capitulation among the weaker bearish hands could act as wind in V's sails. 

It has been a nice couple of weeks for initial public offerings (IPOs) on the Street, what with the likes of Wingstop Inc (NASDAQ:WING) and Axovant Sciences Ltd (NYSE:AXON) debuting – and debuting rather well. After pricing its IPO at $19 per share Thursday night, WING moved as high as $31.99 on Friday, and was last seen near $29.90. How much money was made on WING's IPO? Just ask Troy Aikman. (Seriously, read that headline again; that's rather impressive. When asked for a comment on the situation, Aikman responded, "I played football?")

AXON did not want to be outdone – raising $315 million, which was more than the firm expected. AXON priced at $15 per share last week, rose as high as $31.17 in its first session, and is currently trading above $22.

Despite two impressive IPOs, it certainly appears that investors' appetite for debuts has not been sated. In fact, nearly a dozen companies are set to go public this week, according to Renaissance Capital, and 10 companies expected to price next week.

Fitbit (FIT) is set to price late tomorrow, and the tech firm raised the price of its IPO 38% above its previous range. Originally the fitness firm expected $448.5 million from its IPO, but this morning's news tagged an IPO at $621 million. In fact, according to the article, this IPO should see FIT top GoPro Inc's (NASDAQ:GPRO) IPO -- the first in the "wearable sector" -- likely to the dismay of  rival Jawbone, 

FIT isn't alone -- home-safety concern Alarm.com (ALRM) has garnered a good amount of attention after filing for its IPO. The firm is looking to raise $98 million, and ALRM will soon debut along with TransUnion Holding (TRU) and Glaukos (GKOS).

If these four stocks aren't enough, keep an eye peeled for IPOs from Univar (UNVR) and 8Point3 Energy Partners (CAFD) -- the partnership between First Solar, Inc. (NASDAQ:FSLR) and SunPower Corporation (NASDAQ:SPWR). 

Analysts are weighing in today on social media concern Twitter Inc (NYSE:TWTR), insurance behemoth American International Group Inc (NYSE:AIG), and biopharmaceutical concern Avalanche Biotechnologies Inc (NASDAQ:AAVL). Here's a quick roundup of today's bearish brokerage notes on TWTR, AIG, and AAVL.

• TWTR is down 1% ahead of the bell -- and could hit new annual lows for a second straight session -- as analysts apparently aren't excited by the company's recent front-office change. MKM Partners downgraded the stock to "neutral" from "buy" and reduced its price target by $18 to $39, saying it doesn't expect Twitter Inc's user growth woes to end anytime soon. TWTR is currently sitting in a 3.3% year-to-date hole, finishing yesterday at $34.67, and it could be hurt by additional bearish notes if it can't turn things around. Eleven of 25 brokerage firms with coverage on the shares maintain "strong buy" endorsements, while their average 12-month price target sits at $47.35 -- a 36.6% premium to current levels.


• Deutsche Bank's downwardly revised outlook on AIG has the shares 0.7% lower before the open. The brokerage firm cut its assessment on the stock to "hold" from "buy," even though AIG has outperformed the S&P 500 Index (SPX) by almost 11 percentage points in the past three months, and yesterday touched a multi-year high of $63.70 before settling at $62.57. Still, short-term option traders are more put-heavy than usual. American International Group Inc's Schaeffer's put/call open interest ratio (SOIR) comes in at 1.46, revealing put open interest among options expiring in the next three months greatly outweighs call open interest. Plus, this reading marks an annual put-skewed extreme. 


• AAVL is getting annihilated in pre-market action, poised to surrender nearly half its value -- and explore all-time lows -- after the company reported disappointing trial results for its experimental eye therapy. Even before this potentially huge bear gap, Avalanche Biotechnologies Inc was down 28% in 2015 at $38.88. Now, analysts are jumping on the bearish wagon, as SunTrust Robinson and William Blair each lowered their ratings to the equivalent of "neutral." Plus, the former more than halved its price target to $25. There's a good chance this isn't the last batch of bearish brokerage attention for AAVL: five of six analysts consider it was a "strong buy."

Analysts are weighing in on drugmaker Aerie Pharmaceuticals Inc (NASDAQ:AERI), streaming giant Netflix, Inc. (NASDAQ:NFLX), and tobacco enthusiast Reynolds American, Inc. (NYSE:RAI). Here's a quick roundup of today's bullish brokerage notes on AERI, NFLX, and RAI.

• AERI is eyeing a 44% pop out of the gate, after the Food and Drug Administration (FDA) granted the company permission to change the main late-stage trial goal of its eye treatment, Rhopressa. What's more, the stock received a trio of bullish brokerage notes, including an upgrade to "buy" from "hold" at Needham and a price-target hike to $30 from $15 at Cantor. Elsewhere, RBC raised its price target to $31 from $27, explaining, "This is likely the best chance at success Rhopressa has going forward." Today's projected price move is much needed for a security that's down 54.5% year-to-date, mostly due to a massive late-April Rhopressa-related bear gap. However, option traders have shown a distinct 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 17.48 calls for every put in the last two weeks. On Monday, Aerie Pharmaceuticals Inc settled at $13.27.


• Despite yesterday's reports that NFLX could have some fresh competition on its hands, Needham raised its price target on the shares to $780 from $600, saying it had not priced China into its estimates. Not only does this new price target represent an optimistic 19.3% premium to last night's close at $654.02, but it sits in territory yet to be charted. Record highs are nothing new for the shares, which have been on a tear in 2015 -- and topped out at an all-time peak of $692.79 last Wednesday amid chatter of a stock split. Speculative traders, meanwhile, are more put-skewed than usual toward options expiring in three months or less. Specifically, Netflix, Inc.'s Schaeffer's put/call open interest ratio (SOIR) of 1.30 ranks in the 79th annual percentile. In the front-month series -- which expires at this Friday's close -- peak put open interest can be found at the June 550 strike.


• Echoing the recent outlook by Cowen and Company, Goldman Sachs reinstated its "conviction buy" rating on RAI and set a price target of $81, after the company completed its acquisition of Lorillard Inc. (NYSE:LO) last Friday. The stock has put in a solid showing on the charts over the past 52 weeks, up 20.3%. More recently, RAI has been consolidating atop its rising 120-day moving average since hitting a mid-May record peak of $77.68, and closed Monday at $72.60. A shift in sentiment among option traders could help Reynolds American, Inc. resume its quest for all-time highs. In fact, the equity's 10-day ISE/CBOE/PHLX put/call volume ratio of 10.34 sits higher than 96% of all similar readings taken in the past year, meaning puts have been bought to open over calls at a near-annual-high clip.

U.S. markets look to be in for another rough day, with futures pointed lower ahead of the open. In company news, today's stocks to watch include cosmetics marketer Coty Inc (NYSE:COTY), hospitality expert Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT), and apparel retailer Gap Inc (NYSE:GPS). 

• COTY has reportedly purchased three Procter & Gamble Co (NYSE:PG) units for up to $12 billion. The acquisition has shares of Coty Inc pointed 15.1% higher ahead of the bell, adding to their already impressive year-to-date gain of 26%. In fact, just last week, the stock touched a record peak of $26.38, and closed last night just below this level at $26.05. Options traders have responded by buying to open COTY calls over puts at a feverish pace in recent months, per data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). Specifically, the equity's 50-day call/put volume ratio of 15.22 ranks in the 90th annual percentile.
  


• HOT announced plans to spin off its time-share business into a new public company called Vistana Signature Experiences Inc. On the charts, Starwood Hotels & Resorts Worldwide Inc has been consolidating in the $81-to-$82 region since hitting an all-time high of $87.99 in late April, closing at $81.76 yesterday. Despite being within striking distance of that technical milestone, half the analysts tracking the shares consider them worthy of just a "hold" rating. This could pave the way for future upgrades, which could be supportive of HOT.


• GPS will be closing one-quarter of Gap stores in the coming years -- including 140 in 2015 -- due to weak sales. Roughly 250 corporate employees will also be laid off. Shifting gears, Gap Inc has struggled since its late-March year-to-date high of $43.90, down 13% to rest at $38.20 -- pressured by its 20-day moving average. Short sellers have been wagering on extended losses. During the two most recent reporting periods, short interest on GPS soared 44.4%, and now accounts for almost 9% of the stock's float. It would take about one week to repurchase all of these bearish bets, at the equity's average daily trading levels.