First Solar, Perrigo, Weight Watchers News Today

First Solar, Perrigo, and Weight Watchers stocks are in the news today

May 3, 2017 at 10:10 AM
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The Dow is lower this morning, pressured by shares of Apple Inc. (NASDAQ:AAPL). Among specific stocks on the move are alternative energy issue First Solar, Inc. (NASDAQ:FSLR), drug stock Perrigo Company plc Ordinary Shares (NYSE:PRGO), and Oprah favorite Weight Watchers International, Inc. (NYSE:WTW). Here's a quick look at what's moving shares of FSLR, PRGO, and WTW.

Strong First-Quarter Results Heat Up First Solar Stock

FSLR stock is up 15.7% this morning at $35.09, thanks to the solar company's surprise first-quarter profit and strong full-year revenue outlook. This puts the shares on pace to close above the critical 50-day moving average for the first time in two months, and back in positive year-to-date territory. Still, Baird weighed in with a price-target cut to $38 from $40. Heading into the quarterly event, options traders were bullish on First Solar, Inc. The stock's 10-day call/put volume ratio of 4.16 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks in the 93rd annual percentile. 

Regulators Raid Perrigo Offices

Shares of PRGO are down 5.8% this morning at $71.83, after the company disclosed that the Department of Justice raided its offices as part of a drug price-fixing investigation. The stock has been grinding lower for more or less two years now, pressured by its 120-day moving average, and touched a six-year low of $65.47 a month ago. Whether you want to bet on more losses or a rebound for shares of Perrigo Company, it's a great time to buy near-term options. This is based on the stock's Schaeffer's Volatility Index (SVI) of 32%, which lands in the low 10th annual percentile. 

Weight Watchers Stock Rallies After Earnings

WTW shares have surged 15.8% out of the gate to trade at $24.34, after the company's impressive first-quarter earnings and subscriber growth. Weight Watchers International, Inc. now boasts a year-to-date advance of almost 113%, and earlier hit an annual high of $25.20. A short-squeeze situation could still send WTW stock higher, too. That is, the 9.8 million WTW shares sold short would take nearly two weeks to buy back, based on the average pace of trading. 

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