Nike, Editas Medicine, Moneygram Stocks Moving Today

Three stocks making big moves on the charts today are Nike Inc (NKE), Editas Medicine Inc (EDIT), and Moneygram International Inc (MGI)

Mar 14, 2017 at 11:52 AM
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The Dow is sharply lower today, as the Fed's two-day policy meeting kicks off. Among specific equities in focus are Dow component Nike Inc (NYSE:NKE), genome specialist Editas Medicine Inc (NASDAQ:EDIT), and money transfer concern Moneygram International Inc (NASDAQ:MGI). Here's a quick look at what's moving shares of NKE, EDIT, and MGI.

Credit Suisse Ups Outlook Ahead of Nike Earnings

Shares of NKE are 1.9% higher at $57.76, making the stock the top performer on the Dow, as well as the second-largest percentage gainer on the S&P 500 Index (SPX). Fueling the rally is a price-target hike to $67 from $60 -- into annual-high territory -- from Credit Suisse. Nike Inc could certainly stand to benefit from further bullish brokerage attention, as half of the firms following the blue-chip stock maintain a rating of "hold" or worse. This skepticism comes despite NKE's nearly 18% rally from its early-November low, and with quarterly earnings due for release one week from today. 

Editas Medicine Shares Pop on Allergan Deal 

A $90 million research and development agreement with drugmaker Allergan plc Ordinary Shares (NYSE:AGN) has EDIT stock up 9.7% at $27.33, on pace for its highest close since July. EDIT shares have tacked on roughly 68% so far in 2017, but are still sitting below the year-over-year breakeven mark. Short sellers have been betting against Editas Medicine Inc, with their bearish positions climbing by more than 26% during the most recent two-week reporting period to represent almost 18% of the stock's available float.

Fresh M&A Offer Sets Moneygram Stock on Fire

MGI is soaring 25% to $15.82 -- and earlier notched a two-year high of $16.41 -- on news the company received a buyout bid from payment processor Euronet Worldwide, Inc. (NASDAQ:EEFT) valued at over $1 billion, or $15.20 per share. This easily surpasses an offer from Ant Financial, which came in at just $13.25 per share in late January. With today's jump, which has MGI near the top of the Nasdaq for the day, the equity's year-over-year lead has widened to a whopping 165%. Still, near-term options traders are unusually put-skewed. For instance, MGI's top-heavy Schaeffer's put/call open interest ratio (SOIR) of 2.76 is docked at an annual high.

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