Buzz Stocks: American Eagle Outfitters, GoPro Inc, and Whiting Petroleum Corp

Today's stocks to watch in the news include American Eagle Outfitters (AEO), GoPro Inc (GPRO), and Whiting Petroleum Corp (WLL)

Nov 30, 2016 at 9:17 AM
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A breakthrough at the Organization of the Petroleum Exporting Countries (OPEC) meeting in Vienna has U.S. stock futures comfortably higher ahead of the bell. Among specific equities in focus today are retailer American Eagle Outfitters (NYSE:AEO), camera concern GoPro Inc (NASDAQ:GPRO), and oil-and-gas stock Whiting Petroleum Corp (NYSE:WLL). Here's a quick look at what's driving AEO, GPRO, and WLL.

  • AEO's quarterly earnings were in line with the consensus estimate, but its same-store sales and outlook both came up short of expectations. As a result, the retail stock is pointed 9.6% lower pre-market, after settling yesterday at $18.91 -- and on a 22% year-to-date lead. Today's anticipated drop would be a welcome sight for the bearish options traders who have been stalking American Eagle Outfitters. The stock's 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) comes in at a top-heavy 3.65 -- in the 82nd percentile of its annual range.
  • GPRO is poised to pop 4% at the open, after the company announced it will lay off roughly 15% of its workforce and shutter its entertainment unit. Shareholders are desperate for gains, as the stock has sunk over 45% in 2016 at $9.83. By contrast, options players have been rolling the dice on extended losses for GoPro Inc. In fact, GPRO's 10-day ISE/CBOE/PHLX put/call volume ratio sits at an annual high of 1.84, with nearly two puts bought to open for every call.
  • WLL is one of several oil stocks set up for a breakout, following reports that OPEC has agreed to a bigger-than-expected reduction in crude output. Specifically, the shares are pointed 10.5% higher in electronic trading, relative to Tuesday's settlement at $9.38. Year-to-date, though, Whiting Petroleum Corp stock is slightly below breakeven. If the shares jump this morning, short sellers will be kicking rocks. One-quarter of WLL's float is sold short, representing roughly four days' worth of pent-up buying power, at the stock's average trading volume.

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