Buzz Stocks: Dollar Tree, Hormel Foods, Star Bulk Carriers

Today's stocks to watch in the news include Dollar Tree, Inc. (DLTR), Hormel Foods Corp (HRL), and Star Bulk Carriers Corp. (SBLK)

Nov 22, 2016 at 10:08 AM
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U.S. stocks are extending yesterday's record-setting session, with the major indexes carving out fresh highs. Among specific equities in focus today are discount retailer Dollar Tree, Inc. (NASDAQ:DLTR), food specialist Hormel Foods Corp (NYSE:HRL), and shipping stock Star Bulk Carriers Corp. (NASDAQ:SBLK). Here's a quick look at what's driving DLTR, HRL, and SBLK.

  • DLTR is up 10.7% at $90.75, after the discount retailer said its quarterly profit more than doubled year-over-year, topping analysts' expectations. Dollar Tree, Inc. shares are now up 17.3% year-to-date, and trading above the $82-$84 region that served as resistance for the better part of two years. In the options pits, DLTR's Schaeffer's put/call open interest ratio (SOIR) sits at 0.36, just 3 percentage points from an annual low, indicating near-term option players have rarely been more call-skewed over the last 12 months.
  • HRL is up 4.7% at $36.59, after the company released a solid earnings report -- helped largely by a strong performance from its refrigerated foods division -- and upwardly revised its full-year forecast. Hormel Foods Corp shares have had a rough few months beneath resistance at their 200-day moving average, and the stock just yesterday came within pennies of its post-Brexit annual low. Still, HRL's SOIR of 0.56 sits at an annual low, indicating near-term option players haven't been more call-skewed in the past year.
  • SBLK is trading 1.3% higher at $5.48, following the shipping company's earnings report, where Star Bulk Carriers Corp. recorded smaller-than-expected per-share losses. SBLK is up over 20% so far in November, with help from a broader post-election shipping rally, though the shares have repeatedly run into resistance near the $6 level over the past 12 months. Short sellers have been betting on more downside for the shares, with short interest up 74.3% over the last reporting period, now accounting for nearly 5.5% of SBLK's float, which would take more than a week of trading to cover, at SBLK's average daily volume.

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