Cal-Maine Foods, Foamix, G-III Apparel News Today

Cal-Maine Foods, Foamix Pharmaceuticals, and G-III Apparel are in the news today

Mar 27, 2017 at 9:27 AM
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With the Trump trade in jeopardy following Friday's healthcare setback, stock futures are falling ahead of the open. Among stocks in focus are egg distributor Cal-Maine Foods, drugmaker Foamix Pharmaceuticals Ltd (NASDAQ:FOMX), and retailer G-III Apparel. Here's a quick roundup of the headlines moving shares of CALM, FOMX, and GIII.

CALM Stock Braces For Post-Earnings Lows

CALM stock is pointed 7% lower in electronic trading, as the company's fiscal third-quarter sales fell short of estimates. CEO Dolph Baker explained, "we have experienced reduced demand for egg products, as many of our commercial customers reformulated their products to use fewer eggs when prices spiked and have been slow to resume previous egg usage." After closing Friday at $37.35, Cal-Maine Foods stock could hit a two-year low out of the gate, based on its pre-market deficit. A drop in the shares would be a welcome sight for short sellers. Over 31% of CALM's float is dedicated to short interest, which would take more than a month to cover, at the stock's average daily trading volume.

Acne Drug Data Drills Foamix Shares

FOMX stock has been nearly cut in half ahead of the opening bell, after the company's acne treatment missed its main goal in a late-stage study. This is eerily similar to the experience of one rival drug stock late last week. If the pre-market losses materialize, Foamix Pharmaceuticals Ltd -- which closed Friday at $9.10 -- will be staring at an all-time low south of the $5-per-share level. This is bad news for options traders, who have been purchasing calls over puts at a rapid rate of late. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), FOMX sports a top-heavy 20-day call/put volume ratio of 5.56.

GIII Options Traders Eye Earnings-Induced Plunge

GIII stock is pointed about 14% lower ahead of the open, pressured by a sharper-than-expected fourth-quarter loss and weak outlook. After closing Friday at $22.92, G-III Apparel shares could breach the round $20 level today for the first time since May 2013. GIII options traders have been betting on losses, too. The stock's 50-day ISE/CBOE/PHLX put/call volume ratio of 6.65 ranks in the bearishly skewed 99th percentile of its annual range, meaning puts have been bought to open over calls at a near-annual-high clip.

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