Allergan, Cognizant Technology Solutions, DryShips News Today

Allergan plc Ordinary Shares (AGN), Cognizant Technology Solutions Corp (CTSH), and DryShips Inc (DRYS) are making headlines today

Feb 8, 2017 at 10:06 AM
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U.S. stocks are lower, as oil prices weigh on markets. Among specific equities in focus today are drugmaker Allergan plc Ordinary Shares (NYSE:AGN), IT specialist Cognizant Technology Solutions Corp (NASDAQ:CTSH), and sea freight stock DryShips Inc. (NASDAQ:DRYS). Here's a quick look at what's driving AGN, CTSH, and DRYS.

Allergan Up On Earnings Beat, Solid Outlook

AGN is up 1.7% at $236.63, after the drug company delivered an earnings win, and offered a strong forecast for 2017. AGN is up over 28% since its late-November lows, with the shares recently finding a potential foothold at their 200-day moving average. A number of option bulls are likely cheering today's results, with Allergan plc Ordinary Shares' 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) showing 3.07 calls bought to open for every put over the last two weeks -- a reading that sits just 5 percentage points from an annual peak.

Cognizant Technology Solutions Announces $3.4 Billion Capital Return

CTSH is up 3.4% at $55.62, after the firm announced it will return $3.4 billion in capital to shareholders over the next two years, as well as appoint three new directors to its board, per an agreement with Elliott Management. Cognizant Technology Solutions Corp also delivered a mixed earnings report, with profit topping estimates and revenue coming up short. CTSH shares are down 12% from their mid-May peak, and a recent rally attempt ran into resistance near the $58 mark. In the option pits, near-term traders have been unusually call-skewed, with CTSH's Schaeffer's put/call open interest ratio (SOIR) of 0.46 sitting just 4 percentage points from an annual low.

DryShips Dives On Earnings

DRYS is down 14.5% at $4.13, after the shipping company delivered a disappointing earnings report last night, with the company logging a $64.5 million impairment charge against the value of its fleet. In addition to touching a record low of $1.97 in late January, the shares are down more than 99% year-over-year. In the option pits, short-term traders haven't been more call-skewed in the last year, though, with DryShips Inc.'s SOIR of 0.04 sitting at an annual low.

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