Buzz Stocks: Celator Pharmaceuticals Inc, Medtronic PLC, and Sodastream International Ltd

Today's stocks to watch include Celator Pharmaceuticals Inc (CPXX), Medtronic PLC (MDT), and Sodastream International Ltd (SODA)

May 31, 2016 at 10:27 AM
facebook twitter linkedin


U.S. stocks are modestly higher to start a holiday-shortened week filled with plenty of economic data releases. Among equities in focus today are biotech stock Celator Pharmaceuticals Inc (NASDAQ:CPXX), medical device maker Medtronic PLC (NYSE:MDT), and in-home beverage specialist Sodastream International Ltd (NASDAQ:SODA).

  • MDT is down 1.4% at $80.52, as lackluster fiscal 2017 guidance overshadows a healthy quarterly earnings report. Medtronic PLC is still up over 6% for the year, but options bears have been hot on the stock, despite its record high of $81.99 earlier this month. MDT's 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE) and NASDAQ OMX PHLX (PHLX) sits higher than 77% of all other readings from the past year. Short sellers are probably also cheering the stock's slight downturn, with short interest up 12.8% over the past two reporting periods.

  • SODA is trading at $20.73, up 6.2%, following the release of its new home beer system, the Beer Bar, which will allow users to make their own beer using sparkling water and Sodastream International Ltd's own beer concentrate. The product was launched in select European markets, but will expand to other markets over the next year. SODA is up 26.3% year-to-date, and is on pace for a monthly gain of more than 50%. Earlier this month, the stock overtook its 200-day moving average for the first time in 2016, thanks to a solid earnings showing, and the shares are now in territory not charted since June. As such, option buyers have displayed a healthier-than-usual appetite for bullish bets of late, with SODA's 10-day ISE/CBOE/PHLX call/put volume ratio sitting in the 78th percentile of its annual range.

 

Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!

Winning With Weekly Options

1606854690

  


 
Special Offers from Schaeffer's Trading Partners