Stocks On the Move: Alaska Air Group, Inc., Egalet Corp, and Signal Genetics Inc

ALK, EGLT, and SGNL are among the stocks on the move today

Jan 10, 2017 at 2:25 PM
facebook X logo linkedin

U.S. stocks are shaking off a sluggish start, with tech leading the way higher. Among specific equities in focus today are travel stock Alaska Air Group, Inc. (NYSE:ALK), drugmaker Egalet Corp (NASDAQ:EGLT), and diagnostics specialist Signal Genetics Inc (NASDAQ:SGNL). Here's a quick look at what's moving ALK, EGLT, and SGNL.

  • ALK has soared 5% to trade at $91.88, and earlier hit a record high of $92.49, amid a number of positive catalysts. First, the airline raised its full-year 2017 and 2018 earnings estimates and reported a 5.6% increase in December traffic. Second, BofA-Merrill Lynch upped its rating to "buy" from "neutral," and boosted its price target to $110 from $97, citing the company's expanded network after acquiring Virgin America. Third, T. Rowe Price Group Inc (NASDAQ:TROW) reported a 10.1% passive stake in Alaska Air Group, Inc. With nearly 8% of the stock's float sold short, it's safe to assume a number of ALK short sellers are feeling rattled by today's bullish gap.
  • A day after jumping on the Food and Drug Administration's (FDA) approval of its opioid painkiller Arymo, EGLT's shares are plunging after the drug's abuse-deterrent label disappointed. At last check, the stock has surrendered over 23% of its value at $6.44, on track for its lowest close since early November. While Egalet Corp is short-sale restricted at present, already one-third of the stock's float is dedicated to these bearish bets.
  • SGNL has rocketed to an 184% gain at $13.60, and is fresh off an annual peak of $15.19. Since this morning, the stock has been halted twice for volatility, just a day after Signal Genetics Inc set a special meeting to vote on a proposed merger with Miragen Therapeutics. From the looks of it, a number of bears dodged a huge bullet. Specifically, short interest plunged almost 71% over the last two reporting periods, leaving only 1.3% of SGNL's float sold short.
Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI