Boeing, Cleveland BioLabs, Arconic Stocks Moving Today

Three stocks making big moves on the charts today are Boeing, Cleveland BioLabs, and Arconic

Apr 17, 2017 at 2:18 PM
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The Dow is overcoming geopolitical concerns to sport a triple-digit lead today. Among specific stocks on the move this afternoon are "MOAB" maker Boeing Co (NYSE:BA), biotech Cleveland BioLabs, Inc. (NASDAQ:CBLI), and materials expert Arconic Inc (NYSE:ARNC). Here's a quick look at what's moving shares of BA, CBLI, and ARNC.

Boeing Stock Gets Lift from Key Moving Average

BA stock is the top Dow gainer today, up 1.5% at $178.19, as heightened geopolitical tensions continue to serve as a boon for defense stocks. What's more, the company is also reportedly planning another round of layoffs. Boeing Co shares currently sport a 14.5% year-to-date advance, recently finding support from their 50-day moving average. Despite this promising technical setup, eight of 17 brokerage firms maintain a "hold" or worse recommendation on BA, suggesting there's potential for bullish brokerage notes to come through and lift the stock. Today, in fact, Credit Suisse raised its price target on BA to $175 from $165, though still a discount to the stock's present perch.

Cleveland BioLabs Stock Doubles on FDA Nod

CBLI stock is exploding today, up 103% at $3.17, after the Food and Drug Administration (FDA) gave a positive opinion for the company's radiation treatment, Entolimod. The move puts the stock on pace for its best close since June, though the shares' record high from 2007 stands all the way up at $279.80. Meanwhile, short interest on Cleveland BioLabs, Inc. is rising, with an increase of 56% in the past two reporting periods. 

Arconic Shares Jump After CEO Bows Out

ARNC stock is up 3.9% at $26.90, after the firm's CEO Klaus Kleinfeld resigned amid pressure from activist investor Elliott Management. The move puts the shares' year-to-date gain at 45.1%, and extended upside could pull some analysts to the bulls' side of the fence. At the moment, the majority of covering brokerage firms have a tepid "hold" rating on Arconic Inc.

 

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