Buzz Stocks: Coca-Cola Company, Angie's List, Broadcom

Today's stocks to watch in the news include The Coca-Cola Co (KO), Angie's List Inc (ANGI), and Broadcom Corporation (BRCM)

Apr 22, 2015 at 9:28 AM
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U.S. stocks are likely starting today in the red, as traders await existing home sales and crude inventories data. Additionally, several notable names reported earnings, including blue-chip beverage behemoth The Coca-Cola Co (NYSE:KO), online review website Angie's List Inc (NASDAQ:ANGI), and semiconductor firm Broadcom Corporation (NASDAQ:BRCM).

  • The shares of KO are 2.1% higher ahead of the bell, after the firm posted a first-quarter earnings beat highlighted by rising revenue. Technically speaking, The Coca-Cola Co has been choppy since its Nov. 28 all-time high of $45, closing Tuesday at $40.78. However, traders have favored calls over puts in the options pits, as KO's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 4.59 stands in the 99th percentile of its annual range. What's more, KO's Schaeffer's put/call open interest ratio (SOIR) of 0.65 is lower than 84% of all similar readings from the past year, showing that near-term speculators have rarely been this call-skewed over that time period.
  • ANGI is enjoying a post-earnings lift this morning as well -- with the shares up 14.6% in electronic trading -- after the company announced a surprise quarterly profit. On the charts, Angie's List Inc has been an underperformer, with the shares down 52.3% year-over-year to close yesterday at $6.15. However, today's bump will likely pull the shares of ANGI out of the red for 2015. Some traders are likely bemoaning ANGI's positive earnings reaction, as over 21% of the equity's available float is sold short. It would take these bettors roughly 11 sessions to cover their positions, at average trading volumes.
  • The shares of BRCM are up 6.2% in pre-market trading, after the firm released first-quarter earnings that toppled the Street's predictions. This good news is more of the same for Broadcom Corporation, as the shares are up over 46% year-over-year to finish Tuesday at $43.98. Accordingly, calls have been prominent in the options pits, as BRCM's 10-day ISE/CBOE/PHLX call/put volume ratio of 12.31 is higher than 89% of all equivalent readings from the past year. The brokerage is mostly optimistic on BRCM as well, as 63% of covering analysts rate the stock a "buy" or "strong buy." What's more, BRCM has already scored no fewer than nine price-target hikes since last night.

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