Buzz Stocks: Wells Fargo & Co, Activision Blizzard, Inc., and General Electric Company

Today's stocks to watch include Wells Fargo & Co (WFC), Activision Blizzard, Inc. (ATVI), and General Electric Company (GE)

by Alex Eppstein

Published on Jan 15, 2016 at 10:16 AM

Stocks are set to close the week on a steep loss, as crude explores new 12-year lows. Among the equities in focus are banking giant Wells Fargo & Co (NYSE:WFC), video game guru Activision Blizzard, Inc. (NASDAQ:ATVI), and blue chip General Electric Company (NYSE:GE). 

  • WFC is down 2.9% at $49.19, after the company saw its fourth-quarter profit fall year-over-year amid a jump in loan provisions -- but still edge out the Street's consensus estimate -- and sales come up shy of expectations. As such, the stock is just a chip-shot from its annual low of $47.75 from late August. A recent raft of put buyers has to be pleased with the sharp move south. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Wells Fargo & Co has racked up a 50-day put/call volume ratio of 0.82 -- in the top quartile of its annual range.
  • ATVI has tumbled 0.9% to $35.10 after Vivendi unloaded its 5.7% stake in the company for $1.1 billion. However, the stock appears to have found a foothold atop its 120-day moving average, and remains 74% higher on a year-over-year basis. Should Activision Blizzard, Inc. continue to bounce from the aforementioned moving average, short sellers could be forced to the exits -- potentially resulting in tailwinds. Specifically, 16.5% of the stock's float is sold short, and would take over two weeks to buy back, at ATVI's typical trading volume.
  • GE is off 1.7% at $28.57, following news the company has agreed to sell its appliances business to Haier for $5.4 billion, just days after announcing a round of layoffs in Europe. However, since hitting a three-year low of $19.37 in late August, the shares have advanced more than 47%, and have bounced from their intraday lows thanks to the ascending 100-day moving average. Should General Electric Company resume its upward trend, it could put option bears on notice. The stock's 50-day ISE/CBOE/PHLX put/call volume ratio checks in at 1.52 -- in the 96th percentile of its annual range -- and an unwinding of these positions could spur further gains. Looking ahead, GE will report earnings next Friday morning.

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