Tesla, Fiat Chrysler, Tata Motors Stocks Moving Today

Shares of Tesla and Fiat Chrysler are rallying today, while Tata Motors stock is getting hammered after ugly earnings

Feb 14, 2017 at 1:33 PM
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Stocks are hovering near breakeven today, as traders digest comments from Fed Chair Janet Yellen. Among specific equities in focus are auto stocks Tesla Inc (NASDAQ:TSLA), Fiat Chrysler Automobiles NV (NYSE:FCAU), and Tata Motors Limited (ADR) (NYSE:TTM). Here's a quick look at what's moving shares of TSLA, FCAU, and TTM.

Tesla Stock Shows No Sign of Slowing Down

TSLA keeps pushing higher, adding another 1.1% today to trade at $283.80, earlier hitting a two-year high of $287.39. Helping the shares today is news that FMR LLC has upped its passive stake in the company to 13.69%. Tesla Inc has outperformed the broader S&P 500 Index (SPX) by roughly 43 percentage points during the past three months, with Model 3 buzz sparking a rally just last week. The stock could keep running higher, too, if the overwhelming pessimism surrounding it begins to unwind. Not only does short interest represent nearly 30% of TSLA's total float, but just three of 17 analysts recommend buying the shares. 

Fiat Chrysler Gets a Lift From General Motors

FCAU is rallying today, thanks to the M&A reports surrounding General Motors Company (NYSE:GM). Shares of the former company were last seen 4.8% higher at $11.47, hitting a record high of $11.49 earlier in the session. The stock has now more than doubled in value since its July low of $5.45, and this technical strength helps explain the strong call bias among short-term options traders. Specifically, Fiat Chrysler Automobiles NV has a Schaeffer's put/call open interest ratio (SOIR) of 0.28, which ranks just 6 percentage points from an annual low. 

Tata Motors Tanks as Profit Plummets 

TTM, on the other hand, is getting crushed today, down 12.6% at $32.71, following a particularly disappointing earnings report, which showed a 96% decline in net income during the fiscal third quarter. On a more positive note, Tata Motors Limited shares remain comfortably higher on a year-over-year basis, and have found familiar support in the $32 region. Still, today's loss is likely a blow to bullish options traders. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows a 50-day call/put volume ratio of 3.22 for TTM, which ranks in the high 95th annual percentile. 

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