SHOP, THC, and LL are among the stocks in the news today
The Dow is edging higher, as traders look forward to
Apple's earnings release. Among specific stocks on the move are e-commerce specialist
Shopify Inc (US) (NYSE:SHOP), hospital operator
Tenet Healthcare Corp (NYSE:THC), and hardwood retailer
Lumber Liquidators stock. Here's a quick look at what's moving shares of SHOP, THC, and LL.
Shopify Stock Explores New Highs After First-Quarter Results
SHOP stock is up 8.3% at $83.70, and just off a record high of $84.58, thanks to the company's upwardly revised full-year sales outlook. This is just more of the same from the shares, which now boast a 12-month advance of 166%. Don't be surprised if bullish brokerage notes come through in the near term, too. At the moment, nine of the 20 analysts covering Shopify stock still rate it just a "hold," leaving the door open for upgrades to come through and provide an extra lift for the stock.
Tenet Healthcare Shares Jump After Strong Results
THC stock has added 14% this morning to trade at $17.50, after the company posted better-than-expected
first-quarter earnings, and said it plans to sell three of its Houston-based hospitals to rival HCA Holdings Inc (NYSE:HCA). The shares of THC are still below their 50-day moving average, however, and are down 45% year-over-year. Today's price action looks like good news for short-term options traders, who have targeted calls over puts at an unusual pace. This is according to Tenet Healthcare Corp's Schaeffer's put/call open interest ratio (SOIR) of 0.40, which is an annual low.
LL Stock Gaps Lower
LL stock has gapped 16.2% lower out of the gate to trade at $20.45, landing on the short-sale restricted list, following disappointing
first-quarter results. Even with these losses, it's been a solid year for Lumber Liquidators stock, which has gained 30% year-to-date, and is now testing support atop its 50-day trendline. Short sellers haven't been deterred, though, even with LL stock touching an annual high of $24.90 yesterday. Short interest on LL shares rose by 9% in the last reporting period alone, and now represents more than one-quarter of the stock's float.