Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Feb 12, 2021 at 9:57 AM
  • Buzz Stocks
  • Analyst Update

Pot producer Aurora Cannabis Inc (NYSE:ACB) is down 9% at $13.17 in pre-market trading, after receiving a downgrade from MKM Partners to "sell" in the wake of a disappointing fiscal second-quarter earnings report. The firm's reasoning was also attributed to two key concerns: Aurora's consumer cannabis revenue was down 17% from the first quarter -- its lowest level since the second quarter of 2019. In addition, there was no guidance for positive adjusted EBITDA, instead showing a fall from the first quarter.

Yesterday the shares traded as high as $18.93, before once again being rejected by the $19 level and settling at $14.47. Still, cannabis stocks have been some of the biggest movers of 2021, and ACB is no exception, having already posted a 51.6% lead, year-to-date. Now, the equity is testing support at its 20-day moving average, which captured a pullback in late January. 

Circling back to analyst sentiment, not all reactions to the company's earnings report were negative. In fact, at least three bull notes poured in for the equity, the biggest of which was a price-target hike to C$14 from Canaccord Genuity. Still, coming into today, all 11 covering firms recommended a "hold" or worse rating. And what's more, the stock's average 12-month price target of $8.24 is a 37.1% discount to current levels.

Lastly, short interest on Aurora Cannabis stock has shed 24.7% during the past two reporting periods, though it still accounts for a healthy 14.2% of the stock's total available float. At ACB's average pace of daily trading, it would take short sellers under a day to buy back their bearish bets.

 

Published on Feb 12, 2021 at 9:40 AM
  • Buzz Stocks

Internet security name Verisign, Inc. (NASDAQ:VRSN) is on the rise today after the company announced fourth-quarter profits of $1.38 per shares, which came in seven cents higher than Wall Street's forecasts. Revenue, meanwhile, came in just below estimates. At last check, VRSN is up 1.3% at $207.15. 

VRSN has had a choppy year on the charts since it's steep March selloff and subsequent recovery. The $220 level, which has kept a tight lid on shares for the better part of the past two years, continued to do so, with its latest rejection occurring in late December. The equity is set to topple its 140-day moving average for the first time since an early Janauary bull gap. Year-to-date VRSN is down 5.5% for the year. 

While just three analysts cover Verisign stock, the majority consider it a "strong buy," with only one "hold" rating on the books. Meanwhile, the 12-month consensus price target of $240.58 is a 17.6% premium to last night's close. 

Option traders were also optimistic on VRSN ahead of the event. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), VRSN sports a 50-day call/put volume ratio of 11.03, which stands higher than all but 3% of readings from the past year. This means calls are being picked up at a much quicker-than-usual clip. 

Published on Feb 12, 2021 at 8:49 AM
  • Earnings Preview

Retail Stock Gaining Steam as Earnings Loom

by Schaeffer's Digital Content Team
 
Published on Feb 11, 2021 at 3:29 PM
  • Most Active Options Update
  • Intraday Option Activity
This preference for bullish bets is being echoed in today's trading. So far, 945,000 calls have crossed the tape, compared to 381,000 puts. 
Published on Feb 11, 2021 at 2:16 PM
Updated on Feb 11, 2021 at 2:18 PM
  • Quantitative Analysis

That bearish sentiment is echoed in the options pits today, where puts are running at double the average intraday amount. Of the 19,000 puts that have exchanged hands so far, the monthly April 195 put is the most popular, followed by the 200 put from the same series, with new positions are being opened at both.

Published on Feb 11, 2021 at 2:18 PM
  • Analyst Update
  • Quantitative Analysis

The shares of Akamai Technologies Inc (NASDAQ:AKAM) are down 3.2% at $101.75 at last check, extending yesterday's 10.9% plummet. The company reported better-than-expected earnings and revenue after the close on Feb. 9, however, they also announced a corporate reorganization and weak forecast regarding the pandemic. Making matters worse was a price-target cut from Needham to $120 from $135, while both J.P. Morgan Securities and Craig-Hallum issued downgrades and trimmed their price targets. Now for the silver lining; two analysts did hike their own price targets yesterday, and the pullback has brought AKAM to a trendline that if past is precedent, could signal a rally.

More specifically, the stock just came within one standard deviation of its 320-day moving average. According to data from Schaeffer's Senior Quantitative Analyst Rocky White, three similar signals have occurred during the past three years. AKAM was positive a month after each time, averaging an 11.2% gain. From its current perch, a move of similar magnitude would put the stock up past $113, reclaiming its losses from the past couple days. 

AKAM Feb 11

Elsewhere, there's plenty of pessimism to be unwound in the options pits. AKAM's 10-day put/call volume ratio of 2.20 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands higher than 93% of readings in its annual range. This shows puts being picked up at a much faster-than-usual rate during the past two weeks. 

These options are relatively cheap at the moment, too. The stock's Schaeffer's Volatility Index (SVI) of 34% stands higher than 17% of all other readings in its annual range, implying that options players are pricing in relatively low volatility expectations at the moment.  Plus, the equity's SVS sits at 79 out of 100, indicating AKAM has surpassed option traders' volatility expectations during the past year.

Published on Feb 11, 2021 at 10:53 AM
  • Buzz Stocks
Of the 5,698 calls across the tape so far, the weekly 2/12 140-strike call is the most popular, with plenty of traders betting on more upside by the contract's expiration tomorrow. Furthermore, new positions are being opened at the 137-strike call in the same series.
Published on Feb 11, 2021 at 10:43 AM
  • Buzz Stocks
Today's options pits are seeing calls fly off the shelves. Already, 53,000 calls have exchanged hands -- triple the amount that's typically seen at this point -- versus just 7,064 puts.
Published on Feb 11, 2021 at 9:23 AM
  • Buzz Stocks

The shares of Zynga Inc (NASDAQ:ZNGA) are up 4.6% at $11.67 in early morning trading, after the mobile gaming company shared an upbeat 2021 net bookings outlook, which topped estimates. The company cited its upcoming "FarmVille" game and continued strength for its "Harry Potter: Puzzles & Spells" title, among others. In response, no fewer than nine analysts issued price-target hikes, the highest coming from Wedbush to $15. 

This surge puts ZNGA on track to open at its highest level in nearly nine years, as well as its biggest one-day pop since December. This will mark the equity's fourth consecutive intraday high. Year-over-year, ZNGA is up over 66%. 

Coming into today, the brokerage bunch was already resoundingly optimistic. Of the 17 in coverage, 15 called ZNGA a "buy" or better. The 12-month consensus price target of $12.25, meanwhile, stood at a 5.3% premium to last night's close. 

Option traders have also been overwhelmingly bullish. In fact, 20 calls have been picked up for every put during the past 10 weeks at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio stands higher than 93% of readings from the past 12 months, suggesting this extreme penchant for calls is unusual. 

Published on Feb 11, 2021 at 9:01 AM
  • Buzz Stocks
 
Published on Feb 11, 2021 at 8:57 AM
  • Buzz Stocks

Zoom Stock Could Return to Record Levels Soon

by Schaeffer's Digital Content Team
 
Published on Feb 11, 2021 at 7:23 AM
  • Buzz Stocks

Today's Stock Market News & Events: 2/11/2021

by Schaeffer's Digital Content Team

Today the Organization of the Petroleum Exporting Countries (OPEC) monthly report is due out, as well at the regularly scheduled initial and continuing jobless claims. In addition to that, there is another long list of companies due to report quarterly earnings today.

The following companies are slated to release quarterly earnings reports today, February 11:

Alkermes plc. (NASDAQ:ALKS -- $22.93) is a biopharmaceutical company. Alkermes will report its fourth-quarter earnings of 2020 before the bell today.

AllianceBernstein Holding L.P. (NYSE:AB -- $37.09) is a publicly owned investment manager. AllianceBernstein will report its fourth-quarter earnings of 2020 before the bell today.

Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY -- $164.16) is a biopharmaceutical company. Alnylam will report its fourth-quarter earnings of 2020 before the bell today.

ArcelorMittal (NYSE:MT -- $23.42) owns and operates steel manufacturing and mining facilities. ArcelorMittal will report its fourth-quarter earnings of 2020 before the bell today.

Ares Management Corp. (NYSE:ARES -- $50.63) is engaged in providing investment management and consultancy services. Ares Management will report its fourth-quarter earnings of 2020 before the bell today.

AstraZeneca plc. (NASDAQ:AZN -- $49.97) engages in the research, development, and manufacture of pharmaceutical products. AstraZeneca will report its fourth-quarter earnings of 2020 before the bell today.

The AZEK Company Inc. (NYSE:AZEK -- $42.86) is a biopharmaceutical company. AZEK will report its first-quarter earnings of 2021 before the bell today.

BorgWarner Inc. (NYSE:BWA -- $43.69) provides solutions for combustion, hybrid, and electric vehicles. BorgWarner will report its fourth-quarter earnings of 2020 before the bell today.

Brookfield Asset Management Inc. (NYSE:BAM -- $41.02) is a leading global alternative asset manager and one of the largest investors in real assets. Brookfield will report its fourth-quarter earnings of 2020 before the bell today.

ChannelAdvisor Corp. (NYSE:ECOM -- $25.50) provides software-as-a-service (SaaS) solutions. ChannelAdvisor will report its fourth-quarter earnings of 2020 before the bell today.

Cohu Inc. (NASDAQ:COHU -- $47.20) engages in the provision of back-end semiconductor equipment and services. Cohu will report its fourth-quarter earnings of 2020 before the bell today.

Domtar Corp. (NYSE:UFS -- $34.15) engages in the design, manufacturing, marketing, and distribution of fiber-based products. Domtar will report its fourth-quarter earnings of 2020 before the bell today.

Duke Energy Corp. (NYSE:DUK -- $93.70) operates as an energy company. Duke Energy will report its fourth-quarter earnings of 2020 before the bell today.

First American Financial Corp. (NYSE:FAF -- $55.26) operates as an insurance company. First American Financial will report its fourth-quarter earnings of 2020 before the bell today.

Generac Holdings Inc. (NYSE:GNRC -- $277.54) designs, manufactures, and sells power generation equipment, energy storage systems, and other power products. Generac will report its fourth-quarter earnings of 2020 before the bell today.

Huntington Ingalls Industries Inc. (NYSE:HII -- $167.77) engages in the designing, building, overhauling, and repairing military ships. Huntington Ingalls will report its fourth-quarter earnings of 2020 before the bell today.

Insight Enterprises Inc. (NASDAQ:NSIT -- $84.82) provides information technology hardware, software, and services solutions. Insight Enterprises will report its fourth-quarter earnings of 2020 before the bell today.

Iridium Communications Inc. (NASDAQ:IRDM -- $47.50) provides mobile voice and data communications services and products. Iridium Communications will report its fourth-quarter earnings of 2020 before the bell today.

Kellogg Co. (NYSE:K -- $58.11) manufactures and markets ready-to-eat cereal and convenience foods. Kellogg will report its fourth-quarter earnings of 2020 before the bell today.

Kimco Realty Corp. (NYSE:KIM -- $17.63) is a real estate investment trust (REIT). Kimco Realty will report its fourth-quarter earnings of 2020 before the bell today.

The Kraft Heinz Co. (NASDAQ:KHC -- $33.89) engages in the manufacture and market of food and beverage products. Kraft Heinz will report its fourth-quarter earnings of 2020 before the bell today.

Laboratory Corporation of America Holdings (NYSE:LH -- $229.20) operates as an independent clinical laboratory company. Laboratory will report its fourth-quarter earnings of 2020 before the bell today.

The Macerich Co. (NYSE:MAC -- $13.05) is a fully integrated, self-managed and self-administered real estate investment trust. Macerich will report its fourth-quarter earnings of 2020 before the bell today.

Molson Coors Beverage Co. (NYSE:TAP -- $48.98) manufactures, markets, and sells beer and other malt beverage products. Molson Coors will report its fourth-quarter earnings of 2020 before the bell today.

National Retail Properties Inc. (NYSE:NNN -- $42.07) invests primarily in high-quality retail properties. National Retail Properties will report its fourth-quarter earnings of 2020 before the bell today.

Nu Skin Enterprises Inc. (NYSE:NUS -- $62.89) develops and distributes personal care and wellness products. Nu Skin will report its fourth-quarter earnings of 2020 before the bell today.

Patrick Industries Inc. (NASDAQ:PATK -- $79.24) manufactures and distributes building products and materials. Patrick Industries will report its fourth-quarter earnings of 2020 before the bell today.

PBF Energy Inc. (NASDAQ:PBF -- $9.54) engages in refining and supplying petroleum products. PBF Energy will report its fourth-quarter earnings of 2020 before the bell today.

PepsiCo Inc. (NASDAQ:PEP -- $137.70) operates as a food and beverage company. PepsiCo will report its fourth-quarter earnings of 2020 before the bell today.

Pool Corp. (NASDAQ:POOL -- $350.54) distributes swimming pool supplies, equipment, and related leisure products. Pool will report its fourth-quarter earnings of 2020 before the bell today.

Restaurant Brands International Inc. (NYSE:QSR -- $60.08) owns, operates, and franchises quick service restaurants. Restaurant Brands will report its fourth-quarter earnings of 2020 before the bell today.

Ryder System Inc. (NYSE:R -- $69.14) provides transportation and supply chain management solutions. Ryder System will report its fourth-quarter earnings of 2020 before the bell today.

Shutterstock Inc. (NYSE:SSTK -- $69.08) is a technology company. Shutterstock will report its fourth-quarter earnings of 2020 before the bell today.

Sonoco Products Co. (NYSE:SON -- $61.32) manufactures and sells industrial and consumer packaging products. Sonoco Products will report its fourth-quarter earnings of 2020 before the bell today.

Telus International Inc. (NYSE:TIXT -- $30.56) provides customer experience and digital business services. Telus will report its fourth-quarter earnings of 2020 before the bell today.

Tempur Sealy International Inc. (NYSE:TPX -- $29.38) develops, manufactures, markets, and distributes bedding products. Tempur Sealy will report its fourth-quarter earnings of 2020 before the bell today.

TreeHouse Foods Inc. (NYSE:THS -- $50.69) operates as a consumer packaged food and beverage manufacturer. TreeHouse Foods will report its fourth-quarter earnings of 2020 before the bell today.

Tyson Foods Inc. (NYSE:TSN -- $69.28) operates as a food company. Tyson Foods will report its fourth-quarter earnings of 2020 before the bell today.

Virtu Financial Inc. (NASDAQ:VIRT -- $29.06) provides market making and lifeature data on the consumer sentiment index.feature data on the consumer sentiment index.feature data on the consumer sentiment index.feature data on the consumer sentiment index.quidity services. Virtu Financial will report its fourth-quarter earnings of 2020 before the bell today.

Vontier Corp. (NYSE:VNT -- $33.51) engages in the research and development, manufacture, sale, and distribution of critical technical equipment, components, software, and services. Vontier will report its fourth-quarter earnings of 2020 before the bell today.

Watsco Inc. (NYSE:WSO -- $251.69) distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies. Watsco will report its fourth-quarter earnings of 2020 before the bell today.

YETI Holdings Inc. (NYSE:YETI -- $78.00) designs, markets, retails, and distributes products for the outdoor and recreation market. YETI Holdings will report its fourth-quarter earnings of 2020 before the bell today.

Zebra Technologies Corp. (NYSE:ZBRA -- $427.47) provides enterprise asset intelligence solutions. Zebra will report its fourth-quarter earnings of 2020 before the bell today.

2U Inc. (NASDAQ:TWOU -- $48.16) operates as an education technology company. 2U will report its fourth-quarter earnings of 2020 after the market closes today.

Agnico-Eagle Mines Ltd. (NASDAQ:AEM -- $73.02) develops, manufactures, and markets products and solutions. Agnico-Eagle Mines will report its fourth-quarter earnings of 2020 after the market closes today.

BJ Restaurants Inc. (NYSE:BJRI -- $54.82) owns and operates casual dining restaurants. BJ Restaurants will report its fourth-quarter earnings of 2020 after the market closes today.

BlackLine Inc. (NASDAQ:BL -- $148.00) provides financial accounting close solutions. BlackLine will report its fourth-quarter earnings of 2020 after the market closes today.

Brixmor Property Group Inc. (NYSE:BRX -- $18.46) is a real estate investment trust (REIT). Brixmor Property will report its fourth-quarter earnings of 2020 after the market closes today.

CarGurus Inc. (NASDAQ:CARG -- $35.61) operates an online automotive marketplace. CarGurus will report its fourth-quarter earnings of 2020 after the market closes today.

The Chemours Co. (NYSE:CC -- $26.83) provides performance chemicals. Chemours will report its fourth-quarter earnings of 2020 after the market closes today.

Cloudflare Inc. (NYSE:NET -- $90.91) operates a cloud platform that delivers a range of network services to businesses. Cloudflare will report its fourth-quarter earnings of 2020 after the market closes today.

Cognex Corp. (NYSE:CGNX -- $90.91) provides machine vision products that capture and analyze visual information. Cognex will report its fourth-quarter earnings of 2020 after the market closes today.

Cousins Properties Inc. (NYSE:CUZ -- $33.96) is a fully integrated, self-administered and self-managed real estate investment trust (REIT). Cousins Properties will report its fourth-quarter earnings of 2020 after the market closes today.

CryoLife Inc. (NYSE:CRY -- $24.72) manufactures, processes, and distributes medical devices and implantable human tissues. CryoLife will report its fourth-quarter earnings of 2020 after the market closes today.

Datadog Inc. (NYSE:DDOG -- $115.55) provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud. Datadog will report its fourth-quarter earnings of 2020 after the market closes today.

DaVita Inc. (NYSE:DVA -- $113.39) provides kidney dialysis services for patients suffering from chronic kidney failure or end stage renal disease (ESRD). DaVita will report its fourth-quarter earnings of 2020 after the market closes today.

Dexcom Inc. (NASDAQ:DXCOM -- $399.44) is a medical device company. Dexcom will report its fourth-quarter earnings of 2020 after the market closes today.

Digital Realty Trust Inc. (NASDAQ:DLR -- $147.53) operates as a real estate investment trust. Digital Realty Trust will report its fourth-quarter earnings of 2020 after the market closes today.

Expedia Group Inc. (NASDAQ:EXPE -- $148.90) operates as an online travel company. Expedia Group will report its fourth-quarter earnings of 2020 after the market closes today.

Federal Realty Investment Trust (NYSE:FRT -- $95.77) operates as a real estate investment trust. Federal Realty will report its fourth-quarter earnings of 2020 after the market closes today.

Flowers Foods Inc. (NYSE:FLO -- $22.66) produces and markets packaged bakery products. Flowers Foods will report its fourth-quarter earnings of 2020 after the market closes today.

Forward Air Corp. (NASDAQ:FWRD -- $84.66) operates as an asset-light freight and logistics company. Forward Air will report its fourth-quarter earnings of 2020 after the market closes today.

GoDaddy Inc. (NYSE:GDDY -- $91.72) designs and develops cloud-based technology products. GoDaddy will report its fourth-quarter earnings of 2020 after the market closes today.

HubSpot Inc. (NYSE:HUBS -- $423.45) provides a cloud-based marketing, sales, and customer service software platform. HubSpot will report its fourth-quarter earnings of 2020 after the market closes today.

Illumina Inc. (NASDAQ:HUBS -- $450.00) engages in the development, manufacturing, and marketing of life science tools and integrated systems. Illumina will report its fourth-quarter earnings of 2020 after the market closes today.

Insperity Inc. (NYSE:NSP -- $89.19) provides human resources (HR) and business solutions to improve business performance. Insperity will report its fourth-quarter earnings of 2020 after the market closes today.

J2 Global Inc. (NASDAQ:JCOM -- $108.03) provides Internet services. J2 Global will report its fourth-quarter earnings of 2020 after the market closes today.

JFrog Ltd. (NASDAQ:FROG -- $65.96) provides DevOps platform to achieve continuous software release management platform. JFrog will report its fourth-quarter earnings of 2020 after the market closes today.

Limelight Networks Inc. (NASDAQ:LLNW -- $4.63) provides content delivery and related services. Limelight Networks will report its fourth-quarter earnings of 2020 after the market closes today.

Mohawk Holdings Inc. (NASDAQ:MWK -- $41.44) operates as a technology-enabled consumer products company. Mohawk will report its fourth-quarter earnings of 2020 after the market closes today.

MRC Global Inc. (NYSE:MRC -- $9.30) distributes pipes, valves, fittings, and other infrastructure products and services. MRC Global will report its fourth-quarter earnings of 2020 after the market closes today.

NorthWestern Corp. (NASDAQ:NWE -- $57.54) provides electricity and natural gas to residential, commercial, and industrial customers. NorthWestern will report its fourth-quarter earnings of 2020 after the market closes today.

Regency Centers Corp. (NASDAQ:REG -- $50.16) is the preeminent national owner, operator, and developer of shopping centers. Regency Centers will report its fourth-quarter earnings of 2020 after the market closes today.

Seagen Inc. (NASDAQ:SGEN -- $169.35) is a biotechnology company. Seagen will report its fourth-quarter earnings of 2020 after the market closes today.

SPS Commerce Inc. (NASDAQ:SPSC -- $108.62) provides cloud-based supply chain management solutions. SPS Commerce will report its fourth-quarter earnings of 2020 after the market closes today.

Sunstone Hotel Investors Inc. (NYSE:SHO -- $11.15) is a lodging real estate investment trust. Sunstone Hotel will report its fourth-quarter earnings of 2020 after the market closes today.

SVMK Inc. (NASDAQ:SVMK -- $27.67) provides survey software products and purpose-built solutions. SVMK will report its fourth-quarter earnings of 2020 after the market closes today.

Terex Corp. (NYSE:TEX -- $39.18) manufactures and sells aerial work platforms, materials processing machinery, and cranes. TEX will report its fourth-quarter earnings of 2020 after the market closes today.

Ultragenyx Pharmaceutical Inc. (NYSE:RARE -- $167.22) is a biopharmaceutical company. Ultragenyx will report its fourth-quarter earnings of 2020 after the market closes today.

Veeco Instruments Inc. (NASDAQ:VECO -- $20.44) develops, manufactures, sells, and supports semiconductor and thin film process equipment. Veeco Instruments will report its fourth-quarter earnings of 2020 after the market closes today.

VeriSign Inc. (NASDAQ:VRSN -- $203.15) provides domain name registry services and Internet infrastructure. VeriSign will report its fourth-quarter earnings of 2020 after the market closes today.

Vocera Communications Inc. (NYSE:VCRA -- $43.34) provides secure, integrated, and intelligent communication and workflow solutions. Vocera will report its fourth-quarter earnings of 2020 after the market closes today.

The Walt Disney Inc. (NYSE:DIS -- $189.63) operates as an entertainment company. Walt Disney will report its fourth-quarter earnings of 2020 after the market closes today.

Washington Real Estate Investment Trust (NYSE:WRE -- $23.45) owns and operates uniquely positioned real estate assets in the Washington Metro area. Washington Real Estate will report its fourth-quarter earnings of 2020 after the market closes today.

Yamana Gold Inc. (NYSE:AUY -- $5.02) operates as a precious metal producer. Yamana Gold will report its fourth-quarter earnings of 2020 after the market closes today.

Looking ahead to tomorrow, the last day of the week will feature data on the consumer sentiment index. All economic dates listed here are tentative and subject to change.

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