Allegheny Technologies, GoPro, PulteGroup Stocks Moving Today

ATI, GPRO, and PHM are among the stocks on the move today

Jan 24, 2017 at 2:03 PM

U.S. stocks are powering upward as President Donald Trump fuels hopes for corporate tax cuts. Among specific equities in focus today are parts manufacturer Allegheny Technologies Incorporated (NYSE:ATI), camera maker GoPro Inc (NASDAQ:GPRO), and homebuilder PulteGroup, Inc. (NYSE:PHM). Here's a quick look at what's moving ATI, GPRO, and PHM.

Allegheny Technologies Breaks Out on Earnings

ATI is fresh off an annual high of $21.97, thanks to a narrower-than-expected quarterly loss. At last check, the stock was up more than 28% at $21.78, making it the top percentage gainer on the New York Stock Exchange (NYSE). This is good news for a crop of bullish options bettors at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). Across those exchanges, Allegheny Technologies Incorporated has amassed a top-heavy 50-day call/put volume ratio of 9.57 -- in the bullishly skewed 92nd percentile of its annual range.

Pacific Crest Optimistic on GoPro Camera Sales

GPRO has jumped over 8.5% to trade at $10.20, after Pacific Crest said the company likely sold more cameras than anticipated in the fourth quarter. As such, the shares are approaching their year-over-year breakeven mark of $10.59. Suffice it to say, short sellers could be feeling the heat. Nearly one-third of GoPro Inc's total float is dedicated to these bearish bets, and it would take 8.5 sessions to cover, at the stock's typical daily trading level.

PulteGroup Erupts on Existing Home Sales Data

PHM is sharply higher, as well, tacking on 5.4% at $20.25. Boosting homebuilder stocks -- ahead of Thursday morning's earnings report -- is a 2.8% decline in existing home sales, due to a 17-year low in inventories and higher mortgage rates. The shares are now on track for their loftiest close since early October. Whether this is enough to sway skeptical analysts is another question altogether. PulteGroup, Inc. has received "hold" or worse recommendations from 60% of the brokerage crowd.

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