Ford, Radius Health, Lockheed Martin News Today

Ford has replaced CEO Mark Fields with Jim Hackett, and the shares are getting a boost

May 22, 2017 at 9:50 AM
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The Dow is on pace for a third straight win today. Among specific stocks on the move are automaker Ford Motor Company (NYSE:F), drug developer Radius Health Inc (NASDAQ:RDUS), and defense stock Lockheed Martin Corporation (NYSE:LMT). Here's a quick look at what's moving shares of F, RDUS, and LMT. 

F Stock Gets a Bump After CEO Switch

Ford stock is up 2% at $11.08 this morning, after the company announced major changes to its front office. Most notably, Jim Hackett will be the new CEO, replacing Mark Fields. The move comes after Ford last week announced a round of job cuts, and with F shares down 15% year-over-year, hitting an annual low of $10.67 last Wednesday. Most analysts are taking a wait-and-see approach on F stock, with eight of 14 covering brokerage firms issuing "hold" recommendations. 

Amgen Drug Setback Boosts RDUS Stock

RDUS stock is rallying 19.8% to trade at $41.39, after rival Amgen said it didn't expect its osteoporosis drug romosozumab -- the main competitor for Radius Health's Tymlos -- would get Food and Drug Administration (FDA) approval this year. The move puts Radius Health stock back into positive year-to-date territory, though it's still well below its 52-week high of $59.88 from August. This is all rough news for RDUS short sellers, who control roughly 22% of the stock's float. 

Saudi Arabia Deal Lifts LMT Stock to New Highs

President Trump's huge weapons deal with Saudi Arabia is giving defense stocks a boost today, with LMT shares up 2.7% at $280.02. In fact, Lockheed Martin stock touched a record high of $280.79 out of the gate, and is now up 12% year-to-date. Despite this performance on the charts, LMT options traders have preferred long puts over calls in recent weeks. Specifically, Lockheed Martin has a 10-day put/call volume ratio of 1.17 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which tops 70% of similar readings from the past year. 
 

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