Stocks On the Move: Mylan NV, Hertz Global Holdings, Inc., and Global Eagle Entertainment Inc

EpiPen maker Mylan NV (MYL), car rental specialist Hertz Global Holdings, Inc. (HTZ), and airline tech stock Global Eagle Entertainment Inc (ENT) are making big moves in today's trading

Dec 14, 2016 at 3:15 PM
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U.S. stocks are lower after the Fed announced a highly anticipated rate hike, and provided additional hawkish commentary. Among specific equities in focus today are EpiPen maker Mylan NV (NASDAQ:MYL), car rental specialist Hertz Global Holdings, Inc. (NYSE:HTZ), and airline tech stock Global Eagle Entertainment Inc (NASDAQ:ENT). Here's a look at what's moving MYL, HTZ, and ENT today.

  • MYL is down 2.4% at $37.39, after the Justice Department filed its first charges in a generic-drug price-fixing probe. MYL has given up more than 30% since the beginning of 2016, and has dropped sharply since accusations of price-gouging emerged in August. Option bulls may be sweating today; Mylan NV currently sports a 10-day call/put volume ratio of 4.15 on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), indicating more than four calls have been bought to open for every put over the last two weeks. What's more, this reading sits higher than 97% of all others from the past year, pointing to a healthier-than-usual appetite for bullish bets of late. 

  • HTZ is down 7.2% at $23.32, as traders react to a corporate shakeup. Hertz Global Holdings, Inc. CEO John Tague will retire on Jan. 2, and three HTZ board members will step down. Tague will be replaced by Kathryn Marinello, a pick that reportedly has activist investor Carl Icahn's approval. Today's drop puts HTZ down 58.7% so far this year. Short sellers may be cheering today's price action, though. Shorted shares account for 12.4% of the stock's float, which would take over a week of trading to cover, at the stock's average daily volume.  
  • ENT is soaring today, up 11.7% at $7.19, following news that the company inked an extended contract  with Southwest Airlines Co (NYSE:LUV) through 2025. This is a much-needed boost for ENT, which touched a record low of $6.06 earlier this month, but is now on pace to top its 20-day moving average for just the second time since October. Near-term option players have been especially put-skewed lately, with Global Eagle Entertainment Inc's Schaeffer's put/call open interest ratio (SOIR) of 1.27 sitting in the top quartile of its annual range.
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