Today's stocks to watch in the news include DLTR, HRL, and SBLK
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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