Today's stocks to watch in the news include Facebook Inc (FB), Finish Line Inc (FINL), and Endo International plc - Ordinary Shares (ENDP)
U.S. stocks are pointed slightly lower this morning, ready to take a breather after three days of gains. Among specific equities in focus today are social media giant Facebook Inc (NASDAQ:FB), retail stock Finish Line Inc (NASDAQ:FINL), and biotech concern Endo International plc - Ordinary Shares (NASDAQ:ENDP).
- FB is set to slide 1.8% at the bell after the Wall Street Journal reported the company overestimated by some 60-80% the amount of time users spent viewing video advertisements on the site. Shares of Facebook Inc are sitting on a strong 24% year-to-date lead, as of their Thursday close at $130.08. While options traders largely seem to be betting on a breather for the shares, calls still dominate the action among short-term speculators. In fact, FB's Schaeffer's put/call open interest ratio (SOIR) of 0.45 sits just 2 percentage points from an annual low, while its front-month gamma-weighted SOIR of 0.24 shows calls outnumbering puts more than 4-to-1 among near-the-money options in the October series.
- FINL reported second-quarter earnings in line with analyst estimates, and sales for the period beat expectations, lifting the stock 0.3% in pre-market trading. The brokerage bunch has yet to weigh in on the news, but future upgrades and price-target hikes certainly look like a possibility. At present, more than half of the analysts tracking Finish Line Inc rate it a tepid "hold," while the 12-month consensus price target of $22.42 sits below last night's close of $23.99. In fact, the shares have put in a strong technical performance in recent months, adding nearly 33% on the charts in 2016, and finding an ally in their 50-day moving average.
- ENDP is up 5.4% ahead of the open, following news Rajiv De Silva stepped down as both CEO and board member. De Silva was immediately replaced with Paul Campanelli, former CEO of Par Pharmaceutics, which was acquired by Endo International plc last year. Also boosting the stock this morning, ENDP reaffirmed its upbeat current-quarter outlook. The shares are still down a painful 72% year-over-year, as of last night's finish at $20.26, but have lately found a foothold atop their 20-week moving average, which previously pressured ENDP lower for more than a year. Recent gains don't seem to have convinced analysts just yet, however. Out of 16 firms providing coverage, only six recommend buying the stock.
Stay on top of overnight news & big morning movers. Sign up now for Schaeffer's Opening View.