Apple Stock Boosted By Buffett

TreeHouse Foods stock is trading near the bottom of the NYSE

Managing Editor
Feb 15, 2018 at 3:27 PM
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U.S. stocks have traded on both sides of the aisle today, but at last check, all three benchmarks were on track for their fifth straight win. FAANG stock Apple Inc. (NASDAQ:AAPL) is higher as well, while mobile marketing specialist Live Ventures Inc (NASDAQ:LIVE) and food stock TreeHouse Foods Inc. (NYSE:THS) are struggling. Here's a closer look at what shares of AAPL, LIVE, and THS are reacting to today.

Apple Stock Set for Fifth Straight Win

Apple stock is up 3.3% to trade at $172.92, after a Securities and Exchange (SEC) filing revealed Warren Buffett's Berkshire Hathaway increased its stake in the iPhone maker by 23.3% to 165.3 million shares. While Apple shares pulled back with the broader market after notching a record high of $180.10 on Jan. 18, they bounced from their 50-week moving average. The FAANG stock is now on track for a fifth straight gain -- its longest daily win streak since November -- and is pacing for its best week since September 2016.

Analysts are split over Apple, though. Of the 27 brokerages covering the tech stock, 13 rate it a "hold" or "strong sell." This indicates there is plenty of room aboard the bullish bandwagon, should AAPL shares keep climbing.

Shaky Financial Statements Sink Live Ventures Stock

Live Ventures stock is down 16.8% to trade at $13.08, one of the worst stocks on the Nasdaq today, after the mobile marketing company said its financial statements for the quarters ended December 2016, March 2017, and June 2017 "should not be relied upon." The company additionally reported its highest ever earnings and revenue in the fiscal first quarter.

LIVE shares are on track for its worst day since Dec. 29, but are finding a foothold atop their recently supportive 160-day moving average. Nevertheless, the security has given back nearly 30% in the last 52 weeks.

Although currently short-sale restricted, short sellers have been actively targeting the stock. Short interest on LIVE surged 79.4% in the two most recent reporting periods.

THS Stock Hits Multi-Year Low On Disappointing Guidance

Shares of Treehouse Foods are down 12.2% to trade at $37.76, and near the bottom of the New York Stock Exchange (NYSE) today. The company reported fourth-quarter earnings and revenue beats, but gave lower-than-expected 2018 guidance and announced plans to close its Visalia, California, facility. In response, Susquehanna issued a price-target cut to $39 from $44. Earlier today, THS stock touched an eight-year low of $36.35, and has now shed nearly 24% in 2018 alone. 

Most analysts are already skeptical of the stock, with 10 of 12 maintaining a "hold' or worse suggestion. However, the average 12-month price target of $49.27 stands at a 30.8% premium to current levels, meaning more bearish brokerage notes could come down the pike.

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