Today's stocks to watch in the news include Under Armour Inc (UAA), Pfizer Inc. (PFE), and Coach Inc (COH)
Dow futures are pointing to another down day as the Federal Open Market Committee prepares to kick off its two-day policy meeting. Among specific equities in the spotlight are athletic apparel maker Under Armour Inc (NYSE:UAA), drug stock Pfizer Inc. (NYSE:PFE), and retail concern Coach Inc (NYSE:COH). Here's a quick look at what's driving UAA, PFE, and COH.
Under Armour on Pace for Three-Year Low After Earnings
UAA is set to drop more than 24% at the open after the company reported quarterly earnings below expectations, along with a disappointing full-year outlook, and announced its CFO, Chip Molloy, is stepping down. Should these losses materialize, the stock could find itself at a three-year low after closing Monday at $28.94. Bearish options traders should be pleased, at least. Under Armour Inc holds a 10-day put/call volume ratio of 1.47 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) -- higher than 87% of the past year's readings.
Disappointing Earnings, Outlook Weigh on Pfizer
An earnings miss and lower-than-expected revenue guidance has PFE off 1% in pre-market trading. While Pfizer Inc. is slightly higher from its Election Day close, the shares have been slipping so far in 2017, down 3.6% at $31.31 -- though the $31 level seems to be holding as support. Should the losses continue, short sellers may be wishing they'd stuck around longer. These bearish bets dropped by roughly 15% during the most recent two-week reporting period, and now account for just 0.6% of PFE's available float.
Promotion Cuts a Win for Coach
COH is bucking this morning's downbeat trend, up 1.2% ahead of the bell after the company beat estimates on the Street for quarterly earnings. The company cited a decrease in promotional discounts after pulling its brand out of hundreds of department stores. However, the upbeat news may not please options traders, who have been largely betting on a downside move for Coach Inc, despite the stock's encouraging history of post-earnings moves. Specifically COH shares have swung higher in the session after earnings in six of the past eight quarters. But at the ISE, CBOE, and PHLX, the stock's 10-day put/call volume ratio of 1.93 is seated in the top quartile of all readings from the past 12 months. At $35.98, COH is sitting 3.3% below the year-over-year breakeven level.
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