Stocks On the Move: Activision Blizzard, Inc., Cyberonics, Inc., and Liquidity Services, Inc.

ATVI, CYBX, and LQDT are moving sharply in Thursday's trading

by Alex Eppstein

Published on Nov 20, 2014 at 11:59 AM
Updated on Apr 20, 2015 at 5:32 PM

Around midday, three of the top market movers are video game maker Activision Blizzard, Inc. (NASDAQ:ATVI), medical device company Cyberonics, Inc. (NASDAQ:CYBX), and online auction house Liquidity Services, Inc. (NASDAQ:LQDT). Here's a quick roundup of how ATVI, CYBX, and LQDT are performing on the charts so far.

  • ATVI spiked out of the gate, and at last check, was 6.5% higher at $20.83. Boosting the shares is a $275 million settlement the company reached with shareholders who opposed a 2013 stock buyback from Vivendi SA. Longer term, Activision Blizzard, Inc. is now sitting on a year-to-date advance of roughly 17%. Meanwhile, on Wall Street, there's plenty of optimism flowing toward the security. All 18 brokerage firms covering ATVI rate it a "buy" or better, and its consensus 12-month price target of $26.05 stands in record-high territory.

  • CYBX dropped to an annual low of $48.19 out of the gate, but promptly rebounded to the tune of a 13.2% intraday lead to trade at $54.91. This follows news of a fiscal second-quarter earnings beat, as well as a 1.3-million-share repurchase initiative. This is likely music to the ears of short-term traders. Cyberonics, Inc.'s Schaeffer's put/call open interest ratio (SOIR) of 0.18 indicates call open interest is more than five times put open interest among options expiring in the next three months. What's more, this SOIR rests just 2 percentage points shy of a 12-month low, suggesting a stronger-than-usual preference for short-term calls over puts.

  • Unlike CYBX, LQDT is plummeting on the heels of its earnings report, as the firm posted lackluster quarterly numbers. Specifically, the shares are down nearly 10% at $10.39 -- and earlier hit a four-year low of $10.28 -- bringing their cumulative 2014 deficit to 54%. Meanwhile, negativity is brimming toward Liquidity Services, Inc. across Wall Street. The stock's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 4.24 ranks in the 70th percentile of its annual range. What's more, 13% of LQDT's float is sold short, representing more than two weeks' worth of pent-up buying demand, at typical daily trading levels.

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