Apple, Cheetah Mobile, Lennar News Today

Apple Inc., Cheetah Mobile Inc, and Lennar Corporation are in the news today

Alex Eppstein
Mar 21, 2017 at 9:26 AM
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Stock futures are advancing this morning, as Wall Street prepares for a series of speeches from key Fed officials. Among stocks in focus are Dow component Apple Inc. (NASDAQ:AAPL), application software expert Cheetah Mobile Inc (ADR) (NYSE:CMCM), and homebuilder Lennar Corporation (NYSE:LEN), Here's a quick roundup of the headlines moving shares of AAPL, CMCM, and LEN.

Apple Launches Red iPhone 7, Clips App

AAPL's online store was mysteriously closed overnight, but has since been reopened with some new additions -- namely, the new red iPhone 7, as well as a new, cheaper 9.7-inch iPad. In addition, Apple Inc. unveiled the new Clips app to promote social video sharing. Technically speaking, the stock touched a record high of $141.50 yesterday before settling at $141.46, and is pointed 0.5% higher pre-market. Options traders have been betting bullishly on AAPL stock at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). The shares sport a top-heavy 10-day call/put volume ratio of 2.04, in the bullishly skewed 86th percentile of its annual range. Meanwhile, Bernstein raised its price target to $160 from $140, echoing yesterday's optimism toward Apple shares.

Cheetah Mobile CFO Stepping Down

CMCM is up 1.1% in electronic trading, following an upbeat earnings report and the resignation of the firm's chief financial officer. The stock has been a beast in 2017, adding over 29% to trade at $12.36, but is staring up at familiar resistance in the $13-$14 area. Short sellers have been betting on a retreat for Cheetah Mobile Inc. Nearly one-fifth of the stock's float is dedicated to short interest, and it would take close to four weeks for these bearish bets to be covered, at CMCM's typical daily trading pace.

Post-Election Environment Bolsters Lennar

LEN reported slightly better-than-expected fiscal first-quarter earnings and revenue, supported by an "improving macroeconomic environment following last year's election," said CEO Stuart Miller. Yesterday, Lennar Corporation shares settled at $52.68, having advanced 32% since Election Day. That said, near-term open interest remains surprisingly put-skewed toward the outperformer. LEN's Schaeffer's put/call open interest ratio (SOIR) registers at a 12-month peak of 1.08.

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