Buzz Stocks: Target Corporation, Lowe's Companies, Inc., and JinkoSolar Holding Co., Ltd.

Today's stocks to watch in the news include Target Corporation (TGT), Lowe's Companies, Inc. (LOW), and JinkoSolar Holding Co., Ltd. (JKS)

Nov 16, 2016 at 10:29 AM
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U.S. stocks are lower, after this morning's inflation data and hawkish Fed talk. Among specific equities in focus today are retail stock Target Corporation (NYSE:TGT), home improvement retailer Lowe's Companies, Inc. (NYSE:LOW), and solar stock JinkoSolar Holding Co., Ltd. (NYSE:JKS). Here's a quick look at what's driving TGT, LOW, and JKS.

  • TGT is up 9% at $77.89, after an earnings win and upwardly revised full-year forecast, with the retailer citing improving e-commerce business and solid back-to-school sales. Target Corporation shares now sit up 6.9% so far for the year, and are on pace to eclipse their 320-day moving average for the first time since May. What's more, the stock is historically one of the best performers the week of Thanksgiving. TGT short sellers are likely kicking rocks at today's post-earnings action, with short interest accounting for 6.9% of TGT's float -- an amount that would take over 12 days of trading to cover, at the stock's average daily rate. 

  • LOW is trading down 1.6% at $67.95, after an earnings miss and cutting its full-year guidance. Today's drop is more of the same for the retailer, with Lowe's Companies, Inc. shares recently rejected by their 50-day moving average, and now down more than 10% year-to-date. A number of recent option buyers are likely disappointed today, with LOW's 50-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 2.42 sitting in the top quartile of its annual range. In other words, LOW traders bought to open calls over puts at a faster-than-usual clip heading into earnings. 
  • JKS also reported an earnings beat this morning, and is currently trading up 5.2% at $14.50. However, the solar stock is still down over 47% so far in 2016, and just touched a three-year low of $12.92 yesterday, pressured by post-election headwinds for the solar sector. The downtrend hasn't deterred option buyers, though, with JinkoSolar Holding Co., Ltd.'s 50-day call/put volume ratio at the ISE/CBOE/PHLX of 1.61 sitting just 10 percentage points from an annual peak.

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