Buzz Stocks: Tesla Motors Inc, Wal-Mart Stores, Inc., and Kite Pharma Inc

Today's stocks to watch in the news include Tesla Motors Inc (NASDAQ:TSLA), Wal-Mart Stores, Inc. (NYSE:WMT), and Kite Pharma Inc (NASDAQ:KITE)

by Celeste Taylor

Published on Jul 11, 2016 at 10:24 AM

Updated on Jun 24, 2020 at 10:16 AM

U.S. stocks are hovering in record-high territory amid expectations of a possible stimulus plan in Japan. Among equities in focus today are electric automaker Tesla Motors Inc (NASDAQ:TSLA), retail stock Wal-Mart Stores, Inc. (NYSE:WMT), and biotech Kite Pharma Inc (NASDAQ:KITE).

TSLA is up 3.3% at $224.01, after the company's CEO Elon Musk tweeted that he is working on a "Top Secret Tesla Masterplan," which he is "hoping to publish later this week." The stock has had a bumpy few weeks since TSLA's Autopilot feature came under scrutiny and after Musk announced his intent to purchase struggling energy stock SolarCity Corp (NASDAQ:SCTY). Longer term, TSLA shares are down almost 15% year-over-year, and short sellers have been betting on additional losses. Short interest edged up in the latest reporting period, and now 27.3% of TSLA's stock is sold short. The stock could resume its downtrend, should these bearish bettors continue to increase their exposure.

WMT is up 0.4% at $74.11, after the retail giant said it will offer free shipping this week on all online orders to compete with Amazon.com, Inc.'s (NASDAQ:AMZN) much-anticipated "Prime Day." More broadly speaking, Wal-Mart Stores, Inc. is up 21% year-to-date -- and managed to avoid last quarter's retail-sector slump. Analysts are skeptical, though, with 73% rating WMT a "hold" or worse, leaving plenty of room for a round of upgrades, should the shares continue to outperform. Option players have shown a penchant for long puts over calls in recent months, with WMT's 50-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 1.86 sitting higher than 93% of all other readings from the past year.

KITE is down 0.1% at $48.46, after the the firm unveiled a 10-year supply agreement with BioLife Solutions Inc (NASDAQ:BLFS) for the use of BLFS' cell preservation product, CryoStor. On the charts, KITE is down 21.4% year-to-date, with recent rally attempts rejected near the $56-60 neighborhood. Call buyers have been keen on KITE in recent months, albeit amid relatively low absolute volume. Kite Pharma Inc's 50-day ISE/CBOE/PHLX call/put volume ratio sits at 4.89, in the 90th percentile of its 12-month range.

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