EXPR, PF, CIEN Stocks In the News Today

Three stocks making notable moves this morning are EXPR, PF, and CIEN

Karee Venema
Jun 1, 2017 at 10:07 AM
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U.S. stocks are trading mixed after today's jobs data. Among specific names in focus are retail stock Express, Inc. (NYSE:EXPR), food manufacturer Pinnacle Foods Inc (NYSE:PF), and tech name Ciena Corporation (NYSE:CIEN). Here's a quick look at what's moving shares of EXPR, PF, and CIEN. 

EXPR Stock Falls to Record Low After Earnings

Express reported an adjusted first-quarter loss of 6 cents per share on $467.7 million in revenue -- below the consensus estimate. The retailer also offered up a lower-than-forecast full-year profit forecast. In response, EXPR stock has plunged 19.1% to $6.28, earlier hitting a record low of $5.96, and is on the short-sale restricted list. Express shares were already staring at a 28% year-to-date loss heading into today's trading. Today's gap could encourage a fresh batch of bearish brokerage notes, considering the average 12-month price target for Express stock is $10.90.

PF Stock Hits New High on CAG Buyout Buzz

Pinnacle Foods shares are fresh off a record high of $66 -- last seen up 5% at $65.42 -- on reports Conagra Brands Inc (NYSE:CAG) has approached the company about a possible takeover. PF stock has been flying high since taking a strong bounce off its 200-day moving average last November, and one group of options traders got in at the right time. Specifically, the now in-the-money June 65 call has seen the biggest rise in open interest over the last two weeks, and data suggests the bulk of the activity was of the buy-to-open kind.

Upbeat Earnings Boost CIEN Stock 

Ciena shares are trading up 14.3% at $26.83, and earlier touched a six-year high of $27.98, after the tech firm posted a fiscal second-quarter adjusted profit of 37 cents per share on $707 million in revenue, with both figures exceeding the consensus estimates. Today's post-earnings breakout has CIEN stock back in positive year-to-date territory, and on track to close an early March bear gap. There's little room for analysts to react to Ciena's earnings, though, considering 80% maintain a "buy" or better rating.

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