BA, BOBE, and VIVO are among the stocks on the move today
U.S. stocks are taking off, as the "Trump rally" kicks into higher gear. Among specific equities in focus today are aerospace stock Boeing Co (NYSE:BA), restaurant chain Bob Evans Farms Inc (NASDAQ:BOBE), and healthcare name Meridian Bioscience, Inc. (NASDAQ:VIVO). Here's a quick look at what's moving BA, BOBE, and VIVO.
Boeing Taps Highs Post-Earnings
BA is fresh off a record high of $168.65, and was last seen up 4.9% at $168.47. Boosting the shares are better-than-forecast fourth-quarter earnings, and expectations the company will deliver more planes in 2017. The stock could get an additional jolt higher if bearish holdouts within the brokerage crowd start to change their tune. Despite BA's long-term outperformance, nearly half of the analysts tracking the shares have doled out a "hold" or worse rating.
Bob Evans Selling Restaurants
BOBE jumped to an all-time peak of $60.95 earlier, and remains 20.6% higher at $57.85, making it one of the top percentage gainers on the Nasdaq. The stock is soaring after the company agreed to sell its restaurants to Golden Gate Capital for $565 million*. Suffice it to say, short sellers could be sweating bullets. Despite declining 19% in the most recent reporting period, short interest on BOBE would still take over a week to buy back, at the stock's average trading volume.
Meridian Bioscience Slammed by Earnings, Outlook
VIVO has cratered today -- losing nearly one-fifth of its value at $13.20, and landing on the short-sale restricted (SSR) list -- after a lackluster trip to the earnings confessional, including a downwardly revised full-year outlook. Earlier, in fact, the stock touched an 11-year low of $10.75. Despite being SSR this afternoon, VIVO has been the target of shorts for some time. Nearly 9% of the stock's float is sold short, which would take over 12 sessions to cover, based on its average trading rate.
*Editor's note: The original text of this article misstated the nature of the BOBE transaction. We regret the error.
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