Twitter, U.S. Steel, United Technologies News Today

Twitter, U.S. Steel, and United Technologies stocks are in the news today

Apr 26, 2017 at 9:28 AM
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Stock futures are pointing to a slow start, as anxiety sets in ahead of President Donald Trump's tax plan, slated for release later today. Meanwhile, among specific stocks in focus are social media name Twitter Inc (NYSE:TWTR), steel maker U.S. Steel Corporation (NYSE:X), and Dow component United Technologies Corporation (NYSE:UTX). Here's a quick roundup of the news moving shares of TWTR, X, and UTX.

Twitter Stock Set to Soar on Strong Earnings

After closing last night at $14.66, TWTR stock is set to open the session up 10%. Boosting the shares is Twitter's earnings report, which came in stronger than anticipated. Plus, the number of Twitter Inc's monthly active users surpassed the consensus estimate by 7 million. Today's projected price move will put TWTR stock in territory not charted in roughly two months -- and there's plenty of sideline cash available to help keep the rally going. Short interest accounts for 11.4% of TWTR's available float, representing more than a week's worth of pent-up buying demand, based on average trading volumes.

Surprising Loss Signals Steep Drop for U.S. Steel Shares

X stock is down 20% ahead of the bell, with a possible delta-hedging situation only exacerbated by a dismal earnings report. Specifically, U.S. Steel Corporation unexpected swung to a loss in the first quarter, while revenue also missed the mark. The stock seems poised to surrender a long-term foothold atop its 200-day moving average, and widen its 5.8% year-to-date deficit, based on last night's close at $31.11. X options traders were betting on a decidedly different earnings reaction. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), X's 10-day call/put volume ratio of 2.06 ranks higher than 94% of all comparable readings taken in the past year, meaning calls have been bought to open over puts at a near-annual-high clip.

United Technologies Stock Flirts With New Highs After Earnings

UTX stock is pointed 0.8% higher in electronic trading -- and could take aim at a new 52-week peak -- after the company reported better-than-expected earnings on rising sales in its jet engine and elevator divisions. This would just be more of the same for the Dow stock, which has added roughly 15% over the past six months. In fact, UTX stock hit an annual high of $117.31 yesterday, before settling at $116.87. Options traders were buying to open calls over puts at a faster-than-usual clip ahead of United Technologies Corporation earnings, too. At the ISE, CBOE, and PHLX, UTX stock's top-heavy 10-day call/put volume ratio of 4.28 ranks above 90% of all comparable readings taken in the last 12 months.

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