Stocks On the Move: 3D Systems Corporation, Potash Corp./Saskatchewan (USA), and Trina Solar Limited (ADR)

DDD, POT, and TSL are moving sharply in Monday's trading

Nov 24, 2014 at 11:39 AM
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U.S. stocks are extending their record-setting run today, as Wall Street continues to applaud overseas stimulus measures. Among the names making significant moves are 3-D printer maker 3D Systems Corporation (NYSE:DDD), fertilizer firm Potash Corp./Saskatchewan (USA) (NYSE:POT), and alternative energy issue Trina Solar Limited (ADR) (NYSE:TSL). Here's a quick look at how DDD, POT, and TSL are faring on the charts today.

  • DDD is 3.1% higher at $36.21, on news the firm will buy Cimatron Ltd. (NASDAQ:CIMT) for about $97 million. From a longer-term perspective, 3D Systems Corporation remains 60% lower year-to-date, and has underperformed the broader S&P 500 Index (SPX) by more than 36 percentage points during the past three months. As such, it's no surprise to find short interest represents more than 35% of DDD's total available float, though some of those skeptics may be picking up options hedges. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day call/put volume ratio of 2.22 stands higher than 86% of all other readings from the past year, pointing to a healthier-than-usual appetite for long calls over puts of late.

  • POT is down 4.8% at $34.84, on reports that Russian rival Uralkali is preparing to restart operations at half its damaged mine. Last week, news that production at the mine was halted sent POT and most of its sector peers soaring, though the equity's rally was stifled in the $37 region -- where the security sat before an early July bear gap. Prior to today's retreat, the stock's 14-day Relative Strength Index (RSI) soared to 72 -- in overbought territory, suggesting a pullback may have been in the short-term cards. In the options pits, Potash Corp./Saskatchewan's (USA) short-term contracts are flying off the shelves, as the equity's 30-day at-the-money implied volatility has popped 9.7% to 23.1%, and overall options volume is running at three times the average intraday pace. While bears are seemingly buying to open the weekly 11/28 34.50-strike put, it looks like bulls are purchasing to open weekly 11/28 35-strike calls.

  • TSL is 6.4% lower at $10.23, after the company reduced its full-year solar module shipment guidance. The post-earnings reaction is likely music to options traders' ears, as speculators were upping the bearish ante ahead of this morning's report. The stock is now sitting on a 25% year-to-date loss, and could be vulnerable to downgrades and price-target cuts, should bullish analysts jump ship. Currently, four out of six brokerage firms offer up "strong buy" opinions of Trina Solar Ltd. (ADR), and the consensus 12-month price target of $18.31 represents expected upside of 79% to the stock's perch.
 

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