Valeant Pharmaceuticals, Endo International, Hertz News Today

Valeant Pharmaceuticals, Endo International, and Hertz stocks are in the news today

May 9, 2017 at 10:05 AM
facebook twitter linkedin

U.S. stocks are on the rise, with the S&P 500 Index (SPX) and Nasdaq Composite (COMP) both touching record highs. Among specific stocks on the move are drug stocks Valeant Pharmaceuticals Intl Inc (NYSE:VRX) and Endo International plc - Ordinary Shares (NASDAQ:ENDP), as well as car rental issue Hertz Global Holdings, Inc (NYSE:HTZ). Here's a quick look at what's moving shares of VRX, ENDP, and HTZ. 

Valeant Stock Explodes Thanks to Q1 Earnings, Strong Forecast

VRX stock is trading 15.7% higher at $11.23, thanks to the company's strong first-quarter earnings report and better-than-expected full-year guidance. Shares of Valeant Pharmaceuticals Intl Inc are now on pace to close above their 50-day moving average for the first time since Feb. 27, as they've rebounded more than 35% since their April 24 low of $8.31. Only time will tell if these results will attract analysts to the bulls' side, since 80% of those covering VRX stock rate it a "hold" or "strong sell." 

Endo International Gets a Post-Earnings Jolt

Strong first-quarter earnings are also providing a lift for ENDP stock this morning, with the shares adding 11.5% to trade at $12.10. This is a rare day in the sun for Endo International plc stock, which has been grinding lower since topping out at $24.93 back in August, hitting its lowest price in three years on March 21. Today's price action could be good news for options traders. ENDP has a Schaeffer's put/call open interest ratio (SOIR) of 0.12, which is 3 percentage points from a 12-month low, signaling a very unusual call-skew among near-term options traders. 

Hertz Stock Gets Crushed After Earnings

HTZ stock is the top percentage loser on the NYSE this morning, shedding 16.2% to trade at $12.49, and earlier touching an eight-year low of $11.78, earning a spot on the short-sale restricted list in the process. The sell-off comes in response to a disappointing first-quarter earnings report. However, this is just more of the same for Hertz Global Holdings stock, which was trading above $50 back in July. In the meantime, short interest continues to increase on HTZ stock, including a 66% jump in the past two reporting periods alone. 

Begin the New Year With Schaeffer's 7 FREE 2022 Stock Picks!



Special Offers from Schaeffer's Trading Partners