Today's stocks to watch include Tesla Motors Inc (TSLA), Nokia Corporation (ADR) (NOK), and Stratasys, Ltd. (SSYS)
U.S. stocks are moving lower this morning, after the advance second-quarter gross domestic product reading (GDP) missed expectations. Among the equities in focus are electric car maker Tesla Motors Inc (NASDAQ:TSLA), tech company Nokia Corporation (ADR) (NYSE:NOK), and 3-D printing issue Stratasys, Ltd. (NASDAQ:SSYS).
- TSLA is up 0.2% this morning at $264.17, after the company announced a new referral program, in which a few customers will get the company's new SUV for free, and others will receive $1,000 discounts off new vehicle purchases. As Tesla Motors Inc prepares to release earnings next Wednesday evening, the shares are nearly 19% higher in 2015. However, these gains haven't been enough to shake the stock's short sellers. Over 24% of TSLA's float is still sold short, and accounts for six days' worth of trading, at average volumes.
- NOK is up 4% this morning at $6.86, after the company -- along with merger partner Alcatel Lucent SA (ADR) (NYSE:ALU) -- posted strong second-quarter earnings figures. Still, NOK remains 12.7% lower year-to-date, with recent breakout attempts blocked by its 50-day moving average. Today's price action can't please the recent batch of put buyers. Nokia Corporation's 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits at 1.68 -- only 3 percentage points from an annual bearish high. If these bears make a quick run for the exits, it could send the shares even higher.
- SSYS is having a rough morning, sliding 10.5% to trade at $32.67, and reaching a three-year low of $30.25, after the company reported in-line second-quarter figures and lowered its full-year guidance. Stratasys, Ltd. has underperformed the S&P 500 Index (SPX) during the past three months, and bullish analysts may be starting to question their ratings. Eight brokerage firms still consider the stock a "buy" or better, and SSYS' average 12-month price target of $44.56 represents a 36% premium to current levels. This could pave the way for future downgrades and/or price-target cuts.
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