Caterpillar, Netflix, Biogen News Today

Caterpillar, Netflix, and Biogen stocks are in the news today

Karee Venema
Apr 25, 2017 at 9:24 AM
facebook twitter linkedin


Stock futures are signaling another positive trading session, following a strong batch of corporate earnings reports. Among specific names in focus are Dow stock Caterpillar Inc. (NYSE:CAT), streaming giant Netflix, Inc. (NASDAQ:NFLX), and healthcare stock Biogen Inc (NASDAQ:BIIB). Here's a quick roundup of the news moving shares of CAT, NFLX, and BIIB.

Strong Earnings Have Caterpillar Stock Eyeing New Highs

CAT stock is trading up 6.6% ahead of the bell -- on track to notch a new annual high out of the gate -- after the construction company's first-quarter earnings report blew past the consensus estimate. Caterpillar Inc. also upwardly revised its full-year forecast. Today's projected price move would be more of the same for CAT stock, which has been bouncing higher along its 120-day moving average over the last 12 months -- boasting a year-over-year lead of roughly 24% to trade at $96.81. The stock could see more upside, too, should analysts start to raise their opinions on CAT. Of the 16 brokerages that currently follow the stock, 11 maintain a "hold" or "strong sell" recommendation.

Netflix Stock Trades Higher After Key China Streaming Deal

NFLX announced it has signed an original content licensing deal with China's iQiyi.com, which will give the company its first streaming foothold in the country. After closing last night at $143.83, NFLX stock is up 2.5% in electronic trading -- and could take aim at its March 30 record high at $148.29. Longer term, Netflix, Inc. shares have added 16.2% in 2017, with the stock's 80-day moving average containing a recent post-earnings pullback. NFLX options traders have shown a bigger-than-usual preference for puts over calls among contracts set to expire in three months or less. The stock's Schaeffer's put/call open interest ratio (SOIR) of 1.15 ranks in the 89th annual percentile.

Biogen Options Traders Could Be Set for Post-Earnings Disappointment

The recent launch of its spinal muscular atrophy drug, Spinraza, helped BIIB post solid first-quarter earnings. As such, BIIB stock is trading 4.4% higher ahead of the bell. On the charts, BIIB broke out above recent congestion at its 200-day moving average yesterday to close at $276.86, but the stock has spent most of the past eight months chopping between $250 and $300. Biogen Inc options traders were bracing for the worst, though. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), BIIB's 10-day put/call volume ratio of 1.24 ranks above 90% of comparable readings taken in the past year. In other words, puts have been bought to open over calls at a near-annual-high clip.

A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earnings guide for Q3 before it's too late!


  
 

Partnercenter