Schaeffer's 43rd Anniversary Stock Picks in 2024

Buzz Stocks: Macy's, Inc., Walt Disney Co, and Canadian Solar Inc.

Today's stocks to watch include Macy's, Inc. (M), Walt Disney Co (DIS), and Canadian Solar Inc. (CSIQ)

May 11, 2016 at 10:41 AM
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U.S. stocks are lower at the open as traders eye crude futures and earnings reports continue to roll in. Among equities in focus today are retailer Macy's, Inc. (NYSE:M), blue-chip entertainment company Walt Disney Co (NYSE:DIS), and solar power stock Canadian Solar Inc. (NASDAQ:CSIQ).

  • M is down 12% at $32.48, a new three-year low, following a disappointing earnings report. "We are seeing continued weakness in consumer spending levels for apparel and related categories," said Terry J. Lundgren, chairman and CEO of Macy's, Inc., as the retailer announced its fifth straight quarter of declining sales and cut its full-year forecast. Short interest on Macy's, Inc. rose 17.3% in the last reporting period, and options bears are keen on the stock, with M's 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE) and NASDAQ OMX PHLX (PHLX) of 1.45 sitting in the 93rd percentile of its annual range.

  • DIS has tumbled 4.8% to $101.58, after announcing a rare quarterly earning miss. The entertainment giant had spent the past few sessions bumping up against its year-to-date breakeven level, and is now attempting to stay in triple-digit territory, hitting an early low of $100.62. Option buyers were ramping up their bullish bets on Walt Disney Co ahead of earnings, with the stock's ISE/CBOE/PHLX call/put volume ratio of 2.1 currently higher than 89% of all other readings from the past year.

  • CSIQ is trading at $18.03, up 16.6%, after an impressive earnings report and upwardly revised revenue forecast. Still, CSIQ has lost over half of its value over the past year -- mirroring its competitors in the solar energy sector -- and just yesterday touched a year-to-date low. However, analysts are confident in Canadian Solar Inc., with nine out of nine rating the shares as a "strong buy". CSIQ's Schaeffer's put/call open interest ratio (SOIR) is lower than 94% of all other readings in the past year, at 0.41, indicating that near-term options buyers have been exceptionally call-heavy in recent weeks.

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