CLNT, MRK, VZ Stocks On the Move Today

Cleantech stock is higher amid buyout hopes

Jun 13, 2017 at 2:47 PM
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The Dow hit a record high today, after a nice recovery from the tech sector slide. Among the names making volatile moves are textile stock Cleantech Solutions International Inc (NASDAQ:CLNT), Dow pharmaceutical stock Merck & Co., Inc., (NYSE:MRK) , and fellow Dow stock Verizon Communications Inc. (NYSE:VZ). Here's a quick look at what's moving shares of CLNT, MRK, and VZ.

Ecrent Venture Powers CLNT Stock

CLNT stock is up 20% today to trade at $4.96, one of the Nasdaq's biggest gainers, after entering into a joint venture with China's Ecrent Capital, fueling Cleantech buyout hopes. This only adds to what has been an excellent year for the textile machinery stock, as CLNT is up 88% year-to-date. Cleantech shares peaked at an annual high of $10.70 in early April, after regaining Nasdaq compliance, but have spent the subsequent sessions bouncing atop their 32-week moving average. Short interest has increased by 15% over the last two reporting periods, and 22% of CLNT stock's total available float is now sold short. 

MRK Shares Drop After Cancer Studies Postponed

MRK stock is down 0.8% today, trading at $63.43, after the company paused enrollment for two cancer drug studies. The shares have found support lately around their 200-day moving average, and remain nearly 8% higher year-to-date. Nevertheless, short sellers have been flooding Merck stock in recent weeks. Specifically, short interest for MRK stock has increased by a whopping 45% in the last two reporting periods.

VZ Stock Down as Yahoo Acquisition Complete

VZ stock is down 1.4% at $46.51, after its acquisition of Yahoo's core assets was finalized. Yahoo's Marissa Mayer stepped down as CEO; AOL's Tim Armstrong will head up the new Yahoo-AOL venture, to be called Oath. It has been a rough go of late for Verizon stock, which hit an 18-month low on May 17, and is down roughly 13% year-to-date. Analysts are lukewarm, too. Of the 23 brokerages covering VZ stock, 17 rate it a "hold."

 

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