Stocks On the Move: Uranium Resources, Inc., Conagra Brands Inc, and Second Sight Medical Products Inc

Uranium mining stock Uranium Resources, Inc. (URRE), snack specialist Conagra Brands Inc (CAG), and medical device maker Second Sight Medical Products Inc (EYES) are among the stocks making big moves in today's trading

Dec 22, 2016 at 3:27 PM
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U.S. stocks are lower as markets react to this morning's mixed economic data. Among specific equities in focus today are uranium mining stock Uranium Resources, Inc. (NASDAQ:URRE), snack specialist Conagra Brands Inc (NYSE:CAG), and medical device maker Second Sight Medical Products Inc (NASDAQ:EYES). Here's a quick look at what's moving URRE, CAG, and EYES.

  • URRE is up 34% at $1.46, as uranium stocks rally after President-elect Donald Trump tweeted that it was time for the country to "greatly strengthen and expand its nuclear capability," a project some say could cost as much as $1 trillion over the next 30 years. Longer term, URRE has been in a free-fall over the last few years, down more than 99% since its 2011 highs, and touching a record low of $0.97 just last month. Although short interest is up 23.5% over the last two reporting periods, shorted shares still account for only 8.6% of URRE's float, which would take less than one day to cover, at the equity's average daily volume. However, that's not too surprising, considering there's only so far a penny stock can fall.  

  • CAG is up 3.2% at $39.23 -- earlier notching a new record high of $39.43 -- after the company delivered stronger-than-expected earnings. Conagra Brands Inc said cost-minimizing measures, as well as less discounting, helped boost sales and quarterly profit, and the company expects sales to continue to improve over the next two quarters. CAG is up more than 32% since touching an annual low in late January, and it looks like option players are betting on even more upside, with CAG's 50-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) showing 6.62 calls bought to open for every put over the last 10 weeks, a reading that sits in the 72nd percentile of its annual range.
  • EYES is trading 10.3% higher at $2.13, on news that England's National Health Service will be funding studies of Sthe company's 'bionic eye' in 10 patients in 2017. Second Sight Medical Products Inc shares have been in a channel of lower highs and lows since mid-2015, and today could take out their 30-day moving average for just the second time since early October. Short sellers may be sweating, given EYES' short interest accounts for 13% of the stock's float, which would take almost a month to cover, at the stock's average daily volume.
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