General Motors, Mattel, T-Mobile News Today

General Motors Company (NYSE:GM), Mattel, Inc. (NASDAQ:MAT), and T-Mobile US Inc (NASDAQ:TMUS) are making headlines today

Feb 14, 2017 at 9:28 AM
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U.S. stock futures are trading modestly higher ahead of today's congressional testimony from Fed Chair Janet Yellen. Meanwhile, among specific equities in focus are automaker General Motors Company (NYSE:GM), toymaker Mattel, Inc. (NASDAQ:MAT), and telecom stock T-Mobile US Inc (NASDAQ:TMUS). Here's a quick roundup of what's driving shares of GM, MAT, and TMUS.

GM In Talks to Sell Opel Unit

After closing last night at $35.52, shares of GM are up 4.4% in electronic trading. Boosting the stock is news that French firm PSA Group -- maker of Peugeot, Citroen and DS cars -- is talks with General Motors Company about the possible purchase of its Europe-based Opel arm, a deal that would give the combined company control over 16.3% of the European auto market. Today's projected price move just echoes GM's longer-term trajectory, with the shares up 28% year-over-year following last week's successful test of their rising 80-day moving average. With 60% of analysts still maintaining a tepid "hold" rating on the outperformer, the door is wide open for a round of upgrades, which could add fuel to GM's fire.

Mattel Inks Partnership With Alibaba

MAT announced a strategic partnership with Alibaba Group Holding Ltd (NYSE:BABA) to sell its toys on the China-based e-commerce concern's marketplace, and work together to create new toys for Chinese consumers. After being up as much as 2.4% in electronic trading, shares of MAT were last seen enjoying a 1.2% pre-market lead. The stock could certainly use help, considering it's shed nearly 24% over the past six months to trade at $25.91, and hit a new annual low of $25.17 on Feb. 2. In the options pits, short-term traders have rarely been as call-skewed toward Mattel, Inc. as they are now. The stock's Schaeffer's put/call open interest ratio (SOIR) of 0.33 ranks lower than 95% of all comparable readings taken in the past year.

T-Mobile Reports Strong Sales

Unlimited data plans have been all the rage this week, after TMUS unveiled its plan in early January, a move that eventually helped propel the stock to a Jan. 27 record high of $63.68. Nevertheless, TMUS has since pulled back from this technical milestone, and yesterday shed 2.4% to close at $60.90, after Verizon Communications Inc. (NYSE:VZ) threw its hat into the telecom "price war." Today, the shares are trading up 0.5% ahead of the bell, after T-Mobile US Inc offered up fourth-quarter earnings and revenue that beat estimates. Short interest on TMUS jumped 14.3% in the most recent reporting period, and now accounts for a healthy 8% of the stock's float. An unwinding of bearish bets could propel TMUS even higher.

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