Stocks On the Move: Caterpillar Inc., Ford Motor Company, and Skechers USA Inc

Caterpillar Inc. (CAT), Ford Motor Company (F), and Skechers USA Inc (SKX) are among the stocks making big moves in today's trading

Dec 1, 2016 at 3:23 PM
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U.S. stocks are mixed, as crude oil continues to rally, while tech stocks fall. Among specific equities making big moves on the charts today are heavy machinery supplier Caterpillar Inc. (NYSE:CAT), automaker Ford Motor Company (NYSE:F), and shoe stock Skechers USA Inc (NYSE:SKX). Here's a quick look at what's driving CAT, F, and SKX today.

  • CAT is up 0.5% at $95.99, even after calling analysts' expectations for its 2017 earnings "too optimistic" based on volatile oil prices and other headwinds. CAT shares dropped sharply to $94.05 immediately after the announcement, but have since moved back into positive territory. CAT is now up over 40% so far in 2016. In spite of its technical strength, Caterpillar Inc. sports a Schaeffer's put/call open interest ratio (SOIR) of 2.27, which ranks in the 77th annual percentile -- suggesting near-term option players are especially put-skewed. If some of these pessimistic positions begin to unravel, it could add more fuel to CAT's advance.

  • is trading 4.6% higher at $12.51, after the automaker announced stronger-than-expected November sales numbers, boosted in part by Black Friday promotions. In addition, Macquarie started coverage of F with a "neutral" rating and $13 price target. Today's move puts Ford Motor Company's stock on track to close above its 80-day moving average for only the second time since F's July post-earnings bear gap, though the stock is still down more than 11% in 2016. In light of this price action, it's no surprise to see that most analysts agree with Macquarie -- Ford stock has garnered seven "holds" and two "sell" ratings, compared to four "buys."

  • SKX is flying high today, trading up 15.6% at $26.35, after news that CEO Robert Greenberg purchased $11 million worth of SKX stock triggered some bullish analyst attention. Buckingham Research upgraded the stock to "buy" from "neutral," while Citigroup raised its price target to $24 from $21, and Susquehanna raised its target price to $30 from $27. Shares of Skechers USA Inc have had a tough year, dropping steadily since a post-earnings bear gap in July, but is now on pace for its highest daily close in over four months. Though the stock is down 13% for 2016, near-term traders are more call-heavy now than at any other time in the past 12 months, with SKX's SOIR of 0.42 sitting at an annual low. 
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