TJX Companies, Weibo, SINA Stocks Moving Today

TJX stock is the latest victim in the retail sector swoon

May 16, 2017 at 2:14 PM
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U.S. stock markets are searching for direction this afternoon, but there are several individual stocks on the move. Included in the bunch are retailer TJX Companies Inc (NYSE:TJX), Chinese social media name Weibo Corp (ADR) (NASDAQ:WB), and Chinese internet firm SINA Corp (NASDAQ:SINA). Here's a quick look at what's moving shares of TJX, WB, and SINA.

TJX Stock Takes a Post-Earnings Hit

TJX stock is down 3.7% today at $74.04, with the company becoming the latest retail stock to fall due to disappointing quarterly results. This puts the shares on pace for their lowest close since late January, and back into negative year-to-date territory. It appears TJX options traders were prepared for a pullback, though, based on the stock's 10-day put/call volume ratio of 2.62 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This reading stands in the 90th annual percentile, signaling a stronger-than-usual preference for puts over calls. 

WB Stock Hits New High After Earnings

Weibo stock is surging today, thanks to the company's strong first-quarter earnings report and upbeat guidance. In response, Jefferies upped its price target to $82 from $67. At last check, WB shares were up 25% at $78.61, and earlier touched a record high of $78.84. While the vast majority of covering brokerage firms already recommend buying Weibo stock, more price-target hikes could come through, since the average 12-month price target is just $64. 

SINA Shares Surge After Results

Sina -- which is majority owner of Weibo -- is also seeing its stock rally today after earnings. SINA shares were last seen up 19.2% at $100.16, earlier touching a five-year peak of $100.98. This brings the stock's year-over-year gain to almost 130%. One group on Wall Street is likely feeling the pain. Short interest on Sina stock rose 25.6% in the past two reporting periods. 

 

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