VNET, ELF, and GILD stocks are making notable moves on the charts today
Stocks are struggling on falling oil prices, with tomorrow's key jobs report on tap. Among specific equities in focus are internet stock 21Vianet Group Inc (NASDAQ:VNET), cosmetics maker e.l.f. Beauty Inc (NYSE:ELF), and drugmaker Gilead Sciences, Inc. (NASDAQ:GILD). Here's a quick look at what's moving shares of VNET, ELF, and GILD.
Earnings Send 21Vianet Group Shares to Record Lows
VNET is among the worst performers on the Nasdaq today, down 18.9% at $5.72 after earlier notching an all-time low of $5.69. Weighing on the shares is the company's disappointing earnings report, which was met with a price-target cut to $7.50 from $9 at Stifel. 21Vianet is no stranger to losses, having surrendered 71.3% over the past 12 months. As such, it's not surprising analysts have been skeptical. Only two firms currently follow the stock, and both recommend holding or selling the shares.
e.l.f. Beauty Beats on Top and Bottom Lines
A trip to the earnings confessional proved kind to market newcomer ELF, with the shares among the top gainers on the New York Stock Exchange. Specifically, the stock is trading up 12.3% at $28.40, after the company beat expectations for earnings and revenue and gave an upbeat outlook. Morgan Stanley, Cowen, and BMO all chimed in with price-target hikes, with the latter setting the highest bar at $38 -- deep into never-before-seen territory. Though e.l.f. Beauty Inc only began trading publicly in late September, short sellers have wasted no time piling on board. Nearly four-fifths of the stock's total float is wrapped up in these bearish bets, accounting for 6.7 sessions' worth of trading, at ELF's typical daily pace.
Bearish Brokerage Note Smacks Gilead Sciences
Analysts at UBS lowered their rating on GILD to "neutral" from "buy," and their price target to $72 from $118, citing poor sales for the company's hepatitis C treatments. The shares are down 2.3% at $68.11, and could see further trouble, should more brokerages follow suit. As of last night's close, 11 firms had doled out "buy" or better ratings on Gilead Sciences, Inc., compared to eight "holds" and not a single "sell." Downgrades seem long overdue, too, considering the stock has shed nearly one-quarter of its value year-over-year, with the declining 20-week moving average pressuring GILD lower since last spring.
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