Amazon, Horizon Pharma, Coach News Today

Amazon, Horizon Pharma, Coach stocks are in the news today

Josh Selway
May 8, 2017 at 10:04 AM
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The S&P 500 Index (SPX) and Nasdaq Composite (COMP) have hit new highs out of the gate, though the Dow is trailing behind. Among specific stocks on the move are online retail stock Amazon, biotech Horizon Pharma PLC (NASDAQ:HZNP), and high-end retailer Coach stock. Here's a quick look at what's moving shares of AMZN, HZNP, and COH. 

AMZN Stock Gains on Barron's Article, Buffett Nod

Shares of AMZN are up 0.8% this morning to trade at $941.63 -- set to snap a four-day losing streak -- after Barron's (subscription required) suggested the stock could rally another 20% in the next year, and take out $1,000 by summer. Plus, legendary investor Warren Buffett once again praised Amazon CEO Jeff Bezos, with Buffett saying Bezos is "shaking up the whole retail world." AMZN stock hit a record high of $954.40 on May 1, and sports a year-over-year climb of over 40%. Meanwhile, data suggests it's a good time to buy near-term Amazon options. This is based on its Schaeffer's Volatility Index (SVI) of 16%, which ranks in the 12th annual percentile. 

Q1 Results, FY Outlook Send Horizon Pharma Spiraling

HZNP stock is getting crushed this morning, losing 31.5% to trade at $10.67, following a weak first-quarter earnings report and a disappointing full-year outlook. On top of being short-sale restricted, the shares earlier hit a more than two-year low of $10.55, and are now down 54% from their 52-week high of $23.44 from August 15. The stock now runs the risk of getting downgraded by analysts. Specifically, five of the six brokerage firms covering Horizon Pharma PLC stock say it's a "strong buy," with zero "sell" ratings to be found. 

COH Stock Rallies on Kate Spade Buyout

COH stock has jumped 7.4% at the open to hit $45.80, earlier touching a three-year high of $46.56, thanks to news the company will buy rival Kate Spade for $2.4 billion in cash, or $18.50 per share. This brings Coach stock's year-to-date rally to 31%, which is seemingly what options traders were hoping for. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows a 10-day call/put volume ratio of 5.86 for COH stock, which is just 4 percentage points from an annual peak. 

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