Stocks On the Move: Swift Transportation Co, Duluth Holdings Inc, and The Coca-Cola Co

Freight firm Swift Transportation Co (SWFT), apparel stock Duluth Holdings Inc (DLTH) and beverage blue-chip The Coca-Cola Co (NYSE:KO) are making big moves in today's trading

Dec 9, 2016 at 3:23 PM
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U.S. stocks are higher, as the major indexes extend their quest for record highs. Among specific equities in focus today are freight firm Swift Transportation Co (NYSE:SWFT), apparel stock Duluth Holdings Inc (NASDAQ:DLTH), and beverage blue chip The Coca-Cola Co (NYSE:KO). Here's a quick look at what's moving SWFT, DLTH, and KO.

  • SWFT is down 7.2% at $24.45, after the company said it expects full-year earnings to come in at the lower end of its previous guidance. The freight stock is currently on today's short-sale restricted (SSR) list, and earlier received a price-target cut to $22 from $25 by Stifel. Earlier this week, SWFT notched a fresh annual high as transport stocks rallied, and option traders have been betting on more upside for the stock. Swift Transportation Co's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits in the upper quartile of its annual range, with more than nine calls bought to open for every put over the last two weeks.

  • DLTH is trading 22.4% lower at $28.74,  after the company reported weaker-than-expected third-quarter revenue. Analysts were quick to hop on the stock; Stifel cut DLTH to "hold" from "buy," lowered its price target to $33 from $35, and predicted challenges continuing into the fourth quarter. William Blair downgraded the shares to "market perform" from "outperform," while Raymond James cut its target price to $30 from $35. Though the stock is one of the worst performers on the Nasdaq today, DLTH is still up 98% in 2016, and is attempting to find support atop its 20-week moving average. While DLTH is on the SSR list, plenty of short sellers are cheering today's bear gap, with Duluth Holdings Inc's short interest up 53.7% over the last two reporting periods. Shorted shares account for more than 38.9% of DLTH's float, which would take over three weeks of trading to cover, at DLTH's average daily volume.
  • KO is up 2.5% at $41.99, after CEO Muhtar Kent announced he would step down next May, to be replaced by James Quincey, currently COO. Kent will remain on as chairman of the board, however. KO has had a tumultuous 2016, with the shares falling 11% since their April highs, and notching an annual low of $39.88 earlier this month. Today, though, the stock is on pace to end the week above its 10-week moving average for the first time since July. Option buyers have been betting on more downside in recent weeks, with The Coca-Cola Co's 50-day put/call volume ratio at the ISE/CBOE/PHLX of 0.88 sitting in the 81st percentile of its annual range, indicating a stronger-than-usual appetite for bearish bets of late.
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