Buzz Stocks: Tesla Motors, Eleven Biotherapeutics, Kohl's

Today's stocks to watch include Tesla Motors Inc (NASDAQ:TSLA), Eleven Biotherapeutics Inc (NASDAQ:EBIO), and Kohl's Corporation (NYSE:KSS)

Aug 13, 2015 at 9:43 AM
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U.S. markets higher this morning, as traders applaud some big-cap earnings. Among the equities in focus are electric car producer Tesla Motors Inc (NASDAQ:TSLA), biotech Eleven Biotherapeutics Inc (NASDAQ:EBIO), and retailer Kohl's Corporation (NYSE:KSS).

  • TSLA has advanced 1.4% to hit $241.45, after the company said it plans to raise roughly $500 million via stock offering. Furthermore, CEO Elon Musk indicated he plans to purchase roughly 84,000 shares for $20 million. Tesla Motors Inc is still reeling from last week's post-earnings slide, but option traders remain more focused on calls than usual. This, judging by TSLA's Schaeffer's put/call open interest ratio (SOIR), which at 0.91 is lower than 93% of all readings from the past year. 

  • After nearly doubling yesterday on upbeat data for its allergic conjunctivitis treatment, EBIO has surged another 40% to dance around $5.75. This time, traders are applauding the company's narrower-than-expected second-quarter loss. A mass exodus of short sellers could propel Eleven Biotherapeutics Inc even higher, as these bearish bets account for 13.5% of the stock's total available float. In fact, it would take more than 12 sessions to buy back these pessimistic positions, at EBIO's average pace of trading -- plenty of fuel for a short squeeze.

  • KSS has dropped 7% to sit at $57.09, as traders pan the company's second-quarter same-store sales figures. The drop is slightly steeper than option traders were projecting, per recent near-term at-the-money straddle stats. Kohl's Corporation shorts are likely cheering the miss, as short interest represents almost 12 sessions' worth of pent-up buying demand, at the equity's average pace of trading. 

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