Apple's New Healthcare Partner; Plus, Harry Potter Hurts BKS

A short squeeze could propel Tilly's stock even higher

Managing Editor
Nov 30, 2017 at 1:21 PM
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Stocks are trading higher this afternoon, as anticipation continues to build ahead of a tax vote taking place in the Senate today. Among the names making big moves are medical device stock BioTelemetry, Inc. (NASDAQ:BEAT), clothing retailer Tilly's, Inc. (NYSE:TLYS), and bookstore chain Barnes & Noble, Inc. (NYSE:BKE). Here's a quick look at what's moving shares of BEAT, TLYS, and BKS.

BEAT is Making Headlines on Apple Partnership

Shares of BioTelemetry stock are gapping higher, up 11% at $29.80, after the company announced a new partnership with Apple (AAPL), which will bring the firm's heart monitoring services to the just-launched Apple Heart Study. The study is expected to flag undiagnosed cardiac arrhythmia via the Apple Watch. BEAT stock is now up 33% year-to-date, but is struggling to retake its 200-day moving average. Ahead of BioTelemetry's news, analysts following the stock were already extremely optimistic -- all five sport a "buy" or "strong buy" recommendation.

TLYS Moves to Top of NYSE After Third-Quarter Beat

Tilly's stock is the biggest percentage gainer on the New York Stock Exchange (NYSE), after the retailer reported a third-quarter earnings beat. TLYS was last seen trading up 18.9% at $15.72, just off a fresh two-year high of $15.90. The retail stock is now up 68% year-over-year, and has nearly doubled since its April lows in the $8 area.

Short interest has rapidly picked up during the past two reporting periods, rising 44%. It would take the shorts 14 days to buy back their bearish bets, at TLYS stock's average pace of trading -- plenty of fuel for a short squeeze to propel the shares even higher. 

Harry Potter Hurts Barnes & Noble Earnings

BKS stock is among the biggest percentage losers on the NYSE, after the bookstore chain reported a wider-than-expected fiscal second-quarter loss. The company's revenue and comparable store sales also missed estimates, hurt by dropping sales of the "Harry Potter and the Cursed Child" book. Barnes & Noble stock was last seen down 12% at $6.88, and has been stuck in a range between $6.50 and $8.50 since May. 

Quite a few short sellers could be cheering today, though BKS stock is on the short-sale restricted (SSR) list. Short interest represents more than 12% of the equity's total available float, and would take more than eight sessions to buy back, at the security's average daily trading volume.

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