EU Fines Google, Sprint Eyes Wireless Partners, and Alder Gaps Lower

Reports of a new wireless partnership are propelling Sprint stock higher

Managing Editor
Jun 27, 2017 at 10:31 AM
facebook X logo linkedin

U.S. stocks are slightly higher this morning, as Wall Street preps for a busy day. Among specific names on the move today are Google parent Alphabet Inc (NASDAQ:GOOGL), telecommunications specialist Sprint Corp (NYSE:S), and drugmaker Alder Biopharmaceuticals Inc (NASDAQ:ALDR). Here's a quick look at what's moving shares of GOOGL, S, and ALDR.

EU Fine Cuts Into Google

Google stock is down 1% to trade at $961.62, as it deals with the fallout from a record EU fine of $2.7 billion for favoring its own shopping results in search. Alphabet says it's considering an appeal of the ruling.

This is a bump in the road for what has otherwise been a solid year for GOOGL, which is up 21% year-to-date, and crossed the $1,000 level for the first time in early June. However, today's drop has the stock on pace to close below its recently supportive 40-day moving average for the first time since mid-April.

Analysts have stuck by GOOGL as the EU probe has unfolded. Of the 26 brokerages covering the stock, 23 rate it a "buy," and 20 of those are "strong buys."

Wireless Partnership Has Sprint Stock Surging

Sprint stock is up 5.6% to trade at $8.46, after news broke of a possible wireless partnership with Charter Communications and Comcast. On the charts, Sprint is bouncing from its 200-day moving average, and looking to reclaim its perch in positive year-to-date territory.

Options traders have been strongly bullish on S lately. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Sprint boasts a 10-day call/put volume ratio of 4.85, which ranks in the 95th percentile of its annual range. This means calls have been purchased over puts at a near annual-high clip.

Ugly Migraine Drug Data Hits ALDR Shares

Alder Biopharmaceutical stock has cratered, down nearly 18% to trade at $15.40 after late-stage trial data for its episodic migraine drug left investors unimpressed. Today's bearish gap -- and new two-year low of $13.80 -- only adds to what has been a rough year for the biopharmaceutical stock, which is down 26% year-to-date.

Increased attention from short sellers isn't helping the case for ALDR stock. Short interest grew by more than 9% during the last two reporting periods, and over 22% of the stock's total available float is currently sold short. At ALDR's average daily volume, it would take nearly three weeks to repurchase all of those pessimistic positions. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI