Kroger Stock Falls Again; Clovis Oncology Shares Rally

KR shares could flirt with new lows today

Sep 8, 2017 at 9:24 AM
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The major stock indexes are signaling a lower open for equities. Among specific stocks in focus are grocery name Kroger Co (NYSE:KR), cancer treatment developer Clovis Oncology Inc (NASDAQ:CLVS), and data storage expert Western Digital Corp (NASDAQ:WDC). Here's a quick look at what's boosting shares of KR, CLVS, and WDC. 

Kroger Shares Slide After Earnings

Kroger stock is down 6.4% in pre-market trading, after the company's second-quarter earnings matched expectations. This would be just more of the same for the shares, which settled yesterday at $22.77 -- down 27.3% year-over-year and not far from their June three-year low of $20.46. 

Short sellers have been preparing for more losses, too. During the last two reporting periods, short interest rose by 20.1%. Based on average daily volumes, these bears now control six days' worth of buying power on KR.  

CLVS Stock Stays Hot After ARIEL3 Results. 

Shares of Clovis Oncology have added 4.4% in electronic trading, thanks to news of positive results from the ARIEL3 study. It's been a wonderful year for the stock, which is up almost 200% at $72.32, though it's cooled some since topping out at $99.45 on July 28. In fact, CLVS has been trading below its 50-day moving average since early August. Still, analysts have remained bullish, with six of nine rating the equity a "strong buy." Plus, its average 12-month price target stands up at $91.09. 

Western Digital Allegedly Seeking Apple's Help

Western Digital is in focus this morning amid reports the company is trying to team up with Apple in its bid for Toshiba's chip unit. Over the past year, WDC shares have rallied almost 66%, last seen trading at $88.42. Whether you're expecting a pullback or extended upside, it's a good time to speculate on Western Digital with short-term options. That is, the stock has a Schaeffer's Volatility Index (SVI) of 33%, which sits just 13 percentage points from a 52-week low, hinting at lower-than-usual volatility expectations for near-term contracts. 

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