DRYS, DDS, and SGMO stocks are lower after earnings
The Dow is off its lows, but the broader stock market remains negative territory. Among specific stocks on the move are bulk shipper DryShips Inc. (NASDAQ:DRYS), retailer Dillard's, Inc. (NYSE:DDS), and biotech Sangamo Therapeutics Inc (NASDAQ:SGMO). Here's a quick look at what's moving shares of DRYS, DDS, and SGMO.
DRYS Stock Plummets Again After Quarterly Results
DRYS stock is down 18.4% today at $5.48 -- putting it on the short-sale restricted (SSR) list and near the bottom of the Nasdaq -- following disappointing quarterly results. It's been a wild year for DryShips stock, which underwent a 1-for-7 reverse split that took effect today, and short sellers apparently see more losses ahead. Specifically, short interest increased by 86% over the past two reporting periods.
DDS Stock Joins Retail Sell-Off
DDS is just another retail stock getting crushed today after earnings, last seen 17.5% lower at $47.75, and on the SSR list. J.P. Morgan Securities lowered its price target to $41 from $44 on the stock, which sits in territory not seen since late 2011. Dillard's shares are now down almost 24% year-over-year, and DDS options traders have been betting on more downside, albeit amid relatively low absolute volume. DDS has a 10-day put/call volume ratio of 3.53 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which is higher than 72% of readings from the past year.
SGMO Tops the Nasdaq After Pfizer Deal
Following better-than-expected quarterly results and a new collaboration with Pfizer Inc. (NYSE:PFE), SGMO is soaring, up 51.1% at $6.58, making it the top percentage gainer on the Nasdaq. The stock has now more than doubled year-to-date, taking out recent resistance at its 320-day moving average. Analysts were already bullish on Sangamo Therapeutics stock, with two-thirds of covering brokerage firms issuing "strong buy" recommendations.