AutoZone's earnings report is hurting sector peer Advance Auto Parts
U.S. stocks are continuing their grind higher this afternoon. Among the names making big moves are auto parts retailer Advance Auto Parts, Inc. (NYSE:AAP), blood disease specialist Cerus Corporation (NASDAQ:CERS), and medical device stock EnteroMedics Inc (NASDAQ:ETRM). Here's a quick look at what's moving shares of AAP, CERS, and ETRM.
AutoZone Earnings Drag Down AAP Stock
Advance Auto Parts stock is getting dragged lower by weak AutoZone earnings today, with the shares dropping 3.30% to trade at $142.50. The stock has been trending lower since topping out at $177.83 in December, but earlier found familiar support in the $140 area. In the options pits, bearish bets have been on the rise. AAP stock has a 10-day put/call volume ratio of 1.57 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks in the 80th annual percentile.
CERS Stock Clocked by Dreary Outlook
CERS stock is the biggest percentage loser on the Nasdaq today, losing 24.2% to trade at $2.28, earlier touching a five-year low of $2.24, after the company provided a downbeat revenue forecast. Cerus stock has been on the decline since peaking at $7.64 back in August, and this is just fine for short sellers. These bears control over 16% of the available float, which equates to more than a month's worth of buying power, based on average daily volumes. CERS is short-sale restricted today, though.
ETRM Stock Jumps on Gastric Vest System Acquisition
EnteroMedics has acquired the Gastric Vest System through its acquisition of BarioSurg, Inc., and the stock is rallying on the news. At last check, ETRM shares were up 9.4% at $5.02. The stock has failed to hold gains from similar outbreaks in the past, however, including a surge to $30 back in January. Yet, even though the equity has fallen from roughly $50 per share to penny-stock territory over the past year, the two analysts covering EnteroMedics stock maintain their "strong buy" opinions.