Buzz Stocks: Apple, Trevena, and Chipotle Mexican Grill

Today's stocks to watch include Apple Inc. (AAPL), Trevena Inc (TRVN), and Chipotle Mexican Grill, Inc. (CMG)

Sep 1, 2015 at 10:10 AM
facebook X logo linkedin

And we're off! The opening bell brought a fresh 300-point plunge for the Dow, thanks to a brand new round of disappointing economic news out of China. Among the equities in focus are electronics behemoth Apple Inc. (NASDAQ:AAPL), pharmaceutical company Trevena Inc (NASDAQ:TRVN), and burrito baron Chipotle Mexican Grill, Inc. (NYSE:CMG) .

  • AAPL is down 1.3% at $111.30, after reports surfaced that the company may soon produce original content. Reportedly, Apple Inc. has met with Hollywood executives about producing original content to compete with Netflix, Inc. (NASDAQ:NFLX) and, Inc (NASDAQ:AMZN). Unnamed sources told Variety that AAPL is planning to begin hiring for the project "in the coming months," and operations are set to start "within a year." Technically, AAPL is set to snap a four-day winning streak, and just closed beneath its 10-month moving average for the first time in two years. Option players are catching on to this underperformance, as the tech titan's 50-day put/call volume ratio on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) checks in at an annual high of 0.74.

  • TRVN is flying high this morning, adding 51% to sit at $9.05 -- and just off an all-time best of $9.10 -- after announcing positive results for its post-surgery pain treatment. Trevena Inc stated that its drug candidate TRV130 proved effective at treating moderate to severe pain in patients who had a "tummy tuck." This news prompted Cowen and Company to raise TRVN's target price to $14 from $13  -- a move followed by Webush, with a price-target elevation to $20 from $15, more than twice the stock's current perch. This morning's gap higher has the stock trading above past resistance in the $7-$7.50 region, which has provided a top rail to TRVN's recent trading channel. 

  • CMG is 1.1% lower at $701.93, after a California woman accused the chain of false advertising in regards to the restaurant's use of the ever-controversial genetically modified organisms (GMOs). On April 27, Chipotle Mexican Grill, Inc. made waves by announcing that it was the first national restaurant to use only GMO-free ingredients. As the story notes, this plaintiff may be the same plaintiff who went after Bayer AG over the health benefits of its One A Day multivitamins. On the charts, CMG has found support in the $700 region, which is home to its 10-week moving average. Off the charts, short-term traders are more put-heavy than usual, as the stock's Schaeffer's put/call open interest ratio (SOIR) of 1.39 stands in the 90th percentile of its annual range.

Get the skinny on all the biggest stories of the morning… Sign up now to get Schaeffer's Midday Market Check delivered straight to your inbox!


Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!