CMG, AMGN, and JPM are among the stocks in the news today
U.S. stocks are up after this morning's nonfarm payrolls report. Among specific equities in the news are restaurant chain Chipotle Mexican Grill, Inc. (NYSE:CMG), biotech Amgen, Inc. (NASDAQ:AMGN), and financial stock JPMorgan Chase & Co. (NYSE:JPM). Here's a quick look at what's driving CMG, AMGN, and JPM shares.
Chipotle Records First Sales Increase in Five Quarters
CMG was higher in pre-market trading, but has since dropped 2.4% to $412.99 after earnings. While the company recorded its first sales increase in five quarters, per-share earnings fell short of estimates. The analyst action has been mixed, with CMG earning an upgrade to "hold" from "sell" by Maxim, which also hiked its price target to $390 from $280, while Barclays cut its price target to $395 from $405. So far this year, CMG is up 9.3%, with the shares recently overtaking their 200-day moving average, which had worked as resistance against several rally attempts over the last four months. Analysts are still largely skeptical toward Chipotle Mexican Grill, Inc. however, with 17 of 24 rating the shares a "hold" or worse.
Amgen Higher On Earnings, Drug Data
AMGN is 4.3% higher at $166.38, after announcing better-than-expected fourth-quarter earnings -- its eighth straight earnings beat -- along with positive drug data for its cholesterol drug, Repatha. AMGN has also received some mixed analyst attention, including price-target cuts to $163, $208, and $194 from Leerink, Goldman Sachs, and Jefferies, respectively -- with the latter two price targets still above AMGN's all-time high of $181.18 -- along with a pair of price-target hikes from Morgan Stanley and Oppenheimer, to $192 and $175, respectively. On the charts, AMGN is now set to conquer its 160-day moving average for the third straight day -- a feat not accomplished since October. In the option pits, bullish betting has ramped up in recent weeks, with Amgen, Inc.'s 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) showing 2.08 calls bought to open for every put, a reading that sits just 9 percentage points from an annual peak.
JPMorgan Leads Bank Stocks Higher Before Trump Meeting
JPM is up 2.4% at $86.63, with CEO Jamie Dimon expected to attend a meeting with President Donald Trump today, and as Trump reportedly prepares to sign executive orders to review the Dodd-Frank law and the Volcker Rule. JPM is up more than 48% year-over-year, and notched a new all-time high of $88.17 just last month. With 12 of 22 analysts rating the shares a "hold" or worse, however, a round of bullish brokerage notes could provide the fuel the shares need to reach new highs.
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