Buzz Stocks: Harley-Davidson, Qualcomm, Gaming & Leisure

Today's stocks to watch in the news include Harley-Davidson Inc (HOG), QUALCOMM, Inc. (QCOM), and Gaming and Leisure Properties Inc (GLPI)

Jul 21, 2015 at 10:17 AM
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U.S. stocks are selling off sharply on a lackluster round of quarterly earnings. In company news, today's stocks to watch include motorcycle magnate Harley-Davidson Inc (NYSE:HOG), chipmaker QUALCOMM, Inc. (NASDAQ:QCOM), and real estate investment trust (REIT) Gaming and Leisure Properties Inc (NASDAQ:GLPI)

  • HOG is soaring this morning on a second-quarter earnings beat, up 3.1% at $56.61. However, on a year-to-date basis, the stock is still down 14%. Despite this unimpressive technical history, traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have been betting bullishly on Harley-Davidson Inc. During the last 10 weeks, speculators have bought to open more than two calls for every put. HOG's resultant call/put volume ratio of 2.14 ranks in the 96th percentile of its annual range.

  • QCOM has advanced 2.2% to trade at $65.21, as the company is reportedly considering a strategic review -- which could result in the tech titan breaking up into two separate entities. Also, a separate report says QUALCOMM, Inc. is planning to lay off almost one-tenth of its employees. On a longer-term basis, the stock has struggled -- losing 12% year-to-date, and earlier this month touching a nearly two-year low of $61.48. Option traders have kept the faith. QCOM's 50-day ISE/CBOE/PHLX call/put volume ratio of 2.94 sits just 6 percentage points from a 12-month peak. Looking ahead, the firm will report earnings tomorrow afternoon.

  • Finally, GLPI is buying Pinnacle Entertainment, Inc's (NYSE:PNK) real estate assets for roughly $4.8 billion in stock -- a deal that's been in the works for some time. Traders are applauding the moving, sending Gaming and Leisure Properties Inc 2.1% higher this morning. Longer term, the shares have been strong, adding 21% year-to-date to hover near $35.51, and today breaking out above recent resistance at their 10-day moving average. This is good news for option bulls. GLPI's 50-day ISE/CBOE/PHLX call/put volume ratio stands at an astronomical 42.59, outranking nine-tenths of comparable readings from the past year.


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