Buzz Stocks: Kate Spade & Co, Time Warner Inc, and Fiat Chrysler Automobiles NV

Today's stocks to watch in the news include Kate Spade & Co (NYSE:KATE), Time Warner Inc (NYSE:TWX), and Fiat Chrysler Automobiles NV (NYSE:FCAU)

Aug 3, 2016 at 10:14 AM
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U.S. stocks are down, despite promising private-sector jobs data, with the Dow staring at its longest losing streak in five years. Among equities in focus are luxury apparel stock Kate Spade & Co (NYSE:KATE), media company Time Warner Inc (NYSE:TWX), and automaker Fiat Chrysler Automobiles NV (NYSE:FCAU).

  • KATE is down 19.7% at $16.17, after reporting disappointing quarterly earnings and downwardly revising its full-year sales forecast, citing continued headwinds in the retail environment and tourists discouraged by the stronger dollar. Prior to today, KATE was up 13.3% since the beginning of 2016, but today's drop puts the luxury goods retailer down 9.1% year-to-date, and within a chip-shot of annual-low territory. There's likely some cheering in the option pits after this latest move, given KATE's Schaeffer's put/call open interest ratio (SOIR) of 1.06 sits higher than 92% of all other readings from the past year, suggesting near-term option players have rarely been more put-skewed over the last 12 months.
  • TWX is up 2.6% at $77.73, after upwardly revising its full-year profit forecast and announcing a 10% stake in online streaming service Hulu. TWX is now up 20.3% year-to-date, and has rallied 40% since its February low of $55.53. Option bulls have been keen on TWX as of late, with Time Warner Inc's 50-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 7.54 sits higher than 84% of all other readings from the past 12 months.

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