News from the C-suite has Walt Disney Co (DIS), Viacom, Inc. (VIAB), and Citrix Systems, Inc. (CTXS) moving higher
With the broader market
enjoying a much-needed pop, three stocks in particular are making headlines thanks to C-suite buzz. Specifically, media concerns
Walt Disney Co (NYSE:DIS) and
Viacom, Inc. (NASDAQ:VIAB), as well as tech firm
Citrix Systems, Inc. (NASDAQ:CTXS), are all moving higher amid news from the executive front. Let's take a closer look at what's driving DIS, VIAB, and CTXS today.
DIS was last seen up 2.1% at $94.49, as the shares attempt to recover from Wednesday's nearly five-month low of $90.42. The $90 level again acted as support for the stock, just as it did during the late-August swoon, and back in February. Today, some traders may be reacting to news that CEO Bob Iger purchased nearly 125,000 shares of DIS just this week, and
upbeat "Star Wars" toy sales.
As for Walt Disney Co's sentiment backdrop, traders have turned unusually bearish in the options arena. This is according to DIS' 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 1.03, which tops
90% of similar marks from the past year. At the same time, short interest fell by almost 15% during the most recent reporting period. If option bears also start hitting the exits, DIS could be in store for additional gains.
Under fire from activist investors,
VIAB decided to make some changes in the front office. Specifically, the company
lowered the pay for its top two executives, saying more details would emerge later in the week. The shares were last seen 3.5% higher at $42.13, though they're fast approaching a potential layer of resistance at their 30-week moving average.
Analysts have maintained their high expectations toward Viacom, Inc. The stock's consensus 12-month price target comes in at $56.21 -- territory not seen since early August.
Lastly,
CTXS is up 1.8% today at $67.67, after the company announced yesterday it has
appointed Kirill Tatarinov as its next president and CEO. The stock has dropped over 20% since its late-October three-year high of $84.17, but may be seeing support from its 320-week moving average.
Option traders certainly don't have high hopes. In fact, Citrix Systems, Inc.'s 10-day put/call volume ratio at the ISE, CBOE, and PHLX is at an elevated 9.26, putting it just 4 percentage points from an annual high. Looking ahead, the company will enter the earnings confessional next Thursday night.
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