Ford, Etsy, Dick's Sporting Goods News Today

Ford is planning to cut its global workforce by 10%, according to reports

May 16, 2017 at 10:04 AM
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The Dow is on the rise this morning, thanks to strong earnings from Home Depot. Among specific stocks on the move are automaker Ford Motor Company (NYSE:F), e-commerce stock Etsy Inc (NASDAQ:ETSY), and athletic apparel retailer Dick's Sporting Goods Inc (NYSE:DKS). Here's a quick look at what's moving shares of F, ETSY, and DKS. 

F Stock In Focus Amid Layoff Reports

Ford stock is up 0.6% at $11.01, amid reports the company could cut 10% of its workforce. This still leaves F shares 17% lower year-over-year, hitting an annual low of $10.90 on May 12. Meanwhile, Ford options traders have been unusually focused on long puts in recent weeks. This is based on Ford's 10-day put/call volume ratio of 0.94 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks in the 84th annual percentile. 

ETSY Stock Soaring on New Hedge Fund Stakes

Etsy is rallying 15.7% out of the gate to trade at $13.10, after TPG Group Holding Advisers and Dragoneer Investment Group LLC jointly reported an 8% stake in the company. This puts ETSY stock back into positive year-to-date territory, and additional gains could prompt some bullish attention from the brokerage bunch. As it stands now, just one of seven analysts recommend buying the shares. 

Dismal Earnings Sink DKS Stock

Dick's stock is getting squashed this morning, down 11.5% at $42.09 -- on the short-sale restricted list -- following disappointing first-quarter results. The shares had already been trending lower since topping out near $63 late last year, and now run the risk of getting hit with bearish analyst attention. Specifically, 16 of 23 brokerage firms covering DKS stock say it's a "buy" or "strong buy," and there are zero "sell" ratings on the books. 
 

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