Cliffs Natural Resources, Synchronoss Technologies, EXACT Sciences Stocks Moving Today

Three stocks making big moves on the charts today are Cliffs Natural Resources, Synchronoss Technologies, and EXACT Sciences

Apr 27, 2017 at 3:04 PM
facebook twitter linkedin

The Dow is slightly higher this afternoon, while oil prices are sliding. Among specific stocks on the move are mining stock Cliffs Natural Resources Inc (NYSE:CLF), cloud concern Synchronoss Technologies, Inc. (NASDAQ:SNCR), and diagnostics specialist EXACT Sciences Corporation (NASDAQ:EXAS). Here's a quick look at what's moving shares of CLF, SNCR, and EXAS.

Cliffs Natural Resources Drops After Earnings

CLF stock is down 3.6% today at $6.93, following the company's first-quarter results. Still, the shares took a strong bounce off their 320-day moving average earlier, and remain well above their 12-month breakeven level of $5.39. On the surface, it would appear today's price action is bad news for Cliffs Natural Resources Inc options traders. More than 50,000 call options were bought to open during the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), compared to just 7,000 puts. CLF's resultant call/put volume ratio of 7.11 sits in the bullishly skewed 95th percentile of its annual range.

Synchronoss Technologies Stock Plummets Amid Executive Exodus

Shares of SNCR are collapsing today, last seen 48.6% lower at $12.67, and on the short-sale restricted list, following news the company's CEO and CFO are both stepping down. Making matters worse, Synchronoss Technologies, Inc. issued a first-quarter revenue warning. Also, Wells Fargo and J.P. Morgan Securities both downgraded the stock to the equivalent of a "hold," with the latter firm cutting its price target to $27 from $65. As such, the stock earlier hit a seven-year low of $11.15, and it would seem likely that more downgrades will come through to pressure SNCR. Six of seven covering brokerage firms had "strong buy" ratings on the shares as of last night's close. 

EXACT Sciences Stock Continues to Rally

EXAS stock is the top percentage gainer on the Nasdaq today, last seen up 24.8% at $29.70, and earlier hitting an annual high of $30.30, after the company's first-quarter earnings results blew past estimates. Plus, the firm signed a collaboration agreement with MDxHealth. The shares have been exploding higher since bottoming near $5 almost a year ago, and could benefit further from a short-squeeze situation. As it stands now, short sellers control almost 30% of EXACT Sciences Corporation's float, translating into about a month of pent-up buying power, at average daily volumes. 


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners