Opko Health, Array Biopharma, Abercrombie & Fitch News Today

Opko Health, Array Biopharma, Abercrombie & Fitch stocks are making big moves this morning

May 10, 2017 at 10:16 AM
facebook twitter linkedin

The surprise firing of FBI Director James Comey has put pressure on stocks this morning. Among specific stocks on the move are diagnostics firm Opko Health Inc. (NASDAQ:OPK), biotech Array Biopharma Inc (NASDAQ:ARRY), and retailer Abercrombie & Fitch Co. (NYSE:ANF). Here's a quick look at what's moving shares of OPK, ARRY, and ANF. 

OPK Stock Dives on Disappointing Revenue

Weak first-quarter sales are weighing on OPKO stock today, with the shares down 10.5% at $6.74, earlier touching a more than two-year low of $6.69 and landing on the short-sale restricted list. Opko Health has been falling fast on the charts, surrendering nearly half its value since topping out at $12.15 in mid-December, and bearish analyst notes seem overdue. At the moment, four of the five brokerage firms tracking OPKO shares say they're a "strong buy." 

ARRY Stock Takes Off After Results

Conversely, ARRY shares are soaring, up 26.7% at $8.90, thanks to the company's fiscal third-quarter earnings report and upbeat data on its COLUMBUS drug trial. Array said it intends to file a New Drug Application within the next few months, prompting Cantor Fitzgerald to reiterate an "overweight" rating and $13 price target. The stock is now back in positive year-to-date territory, and the move could be great news for ARRY options traders. 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 22.94 for Array Biopharma, meaning nearly 23 calls have been bought to open for each put during the past two weeks. 

Takeover Talk Gives ANF Stock a Lift

ANF stock is up 10.2% this morning at $13.96, after Reuters reported the company is interested in courting takeover bids from fellow retailers. The shares are on pace for their highest close since mid-December, but remain below their 200-day moving average, a trendline they haven't topped in almost one year. Today's news and price action is isn't what Abercrombie & Fitch short sellers want to see, since these bears control almost 30% of the stock's float. 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Schaeffer's Daily Bulletin Offer


Special Offers from Schaeffer's Trading Partners