GET THE BEST OF THE MARKET. IN JUST 5 MINUTES. EVERY SATURDAY MORNING.
Following Asia's lead, U.S. indexes are set to bounce back from Monday's losses. Among the equities in focus are test measurement manufacturer Giga-tronics, Incorporated (NASDAQ:GIGA), sleep specialist Mattress Firm Holding Corp (NASDAQ:MFRM), and Chinese mobile Internet interest NQ Mobile Inc (ADR) (NYSE:NQ).
After mostly trending sideways since early October, NQ is preparing for a 15.4% drop ahead of the opening bell today, after reporting uninspiring quarterly earnings and opting to "suspend the practice of providing revenue guidance." Short interest on NQ Mobile Inc dropped marginally after the company agreed to sell Beijing Tianya Co., Ltd. in mid-November, but it still accounts for 12% of the stock's available float. At NQ's average pace of trading, it would take almost three weeks to buy back those shares. Still, it's options traders who could abandon ship today. NQ currently has a SOIR of 0.16 -- just 2 percentage points off an annual low -- indicating that near-term options traders have rarely been so call-heavy. On Monday, NQ closed at $4.22.
JUST RELEASED: The Complete Guide to Earnings Season Profits