Buzz Stocks: Boston Scientific Corporation, Diamond Foods, Inc., and Northrop Grumman Corporation

Today's stocks to watch include Boston Scientific Corporation (BSX), Diamond Foods, Inc. (DMND), and Northrop Grumman Corporation (NOC)

Oct 28, 2015 at 9:43 AM
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U.S. stocks are pointed higher this morning, thanks to some well-received big-cap earnings. Among the equities in focus are medical-device manufacturer Boston Scientific Corporation (NYSE:BSX), snack maker Diamond Foods, Inc. (NASDAQ:DMND), and global security company Northrop Grumman Corporation (NYSE:NOC).

  • BSX is up 3.6% at $17.42, after reporting stronger-than-expected earnings and upping its full-year profit guidance. Technically, Boston Scientific Corporation has advanced 31% on a year-to-date basis -- to within striking distance of a new annual high -- and option players and analysts are likely cheering the earnings win. Of the 20 analysts tracking BSX, 14 rate it a "buy" or better. As for option players, BSX's 10-day call/put volume ratio on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) checks in at 12.08, in the 77th percentile of readings taken in the past year. 
  • DMND has rocketed 5.7% higher to $36.83, and tagged a three-year high of $38 out of the gate, after Snyder's-Lance Inc (NASDAQ:LNCE) announced that it will buy the firm for $1.27 billion. Diamond Foods, Inc. stockholders will own roughly 26% of the new company once the transaction closes. This news brings speculation over which company would buy the snack-food producer to an end. Option players have been betting bullishly on DMND for weeks, as the stock's 50-day call/put volume ratio on the ISE/CBOE/PHLX checks in at 12.09, higher than 99% of the readings taken in the past 52 weeks.
  • Rounding out our trio of rising stocks is NOC, which is 6.8% higher -- and just off a record peak of $193.99 -- after the company topped expectations with its third-quarter earnings report. In addition to the earnings news, Northrop Grumman Corporation lifted its full-year guidance, and said it won a contract -- estimated to be worth up to $80 billion -- to build a new bomber for the U.S. Air Force. Shares of NOC have performed well this year, tacking on about 31%. We could see some pessimism unwind in the option pits, as NOC's 10-day put/call volume ratio of 1.05 on the ISE/CBOE/PHLX is higher than 81% of those taken in the past year. Momentum-lending upgrades are also a possibility, as seven of the 12 brokerages tracking NOC rate it a "hold."


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