Monster Stock Climbs to Top of S&P; Apple Supplier Sinks

Monster Beverage said it may raise drink prices later this year

by Emma Duncan

Published on Jun 8, 2018 at 3:09 PM

Stocks have managed to move higher, despite the ongoing tension between world leaders. Some stocks making notable moves today are drink producer Monster Beverage Corp (NASDAQ:MNST), medical technology concern Edap Tms SA (NASDAQ:EDAP), and semiconductor name Skyworks Solutions Inc (NASDAQ:SWKS). Below, we will take a closer look at how shares of MNST, EDAP, and SWKS are trading on the charts.

MNST Stock Soars on Price-Hike News

Monster Beverage stock is trading at the top of the S&P 500 Index (SPX) after the company earlier announced that it is "highly likely" it will raise drink prices later this year. MNST is up 5% at $55.60 in response, and earlier hit an intraday peak of $56.16, peaking above the 80-day moving average for the first time since the stock's late-February sell-off. Meanwhile, Jefferies weighed in with a price-target hike to $63 from $62.

Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is currently showing MNST with a 10-day call/put volume ratio of 10.11, ranking in the highest percentile of its annual range. This shows that calls have been purchased over puts at an extremely unusual rate.

EDAP Hits 2-Year High on FDA Approval

EDAP stock is just off a fresh two-year high of $4.25, last seen trading up 61% at $3.59, after the Food and Drug Administration (FDA) gave the company clearance on a new ultrasound device, made to remove prostate tissue. Ahead of the approval, EDAP was struggling on the charts, struggling to break above the 120-day moving average which had acted as a ceiling since last November.

Looking at options data, EDAPs Schaeffer's put/call open interest ratio (SOIR) of 0.44 ranks in the low 7th percentile of its annual range. In other words, options traders are more call-heavy than usual among contracts set to expire in three months or less. 

SWKS Drops on Reports of Decreased iPhone Orders

Shares of Skyworks Solutions are lower after reports surfaced of potential cuts in Apple's (AAPL) iPhone orders. SKWS is down 2.5% at $99.91, as it continues to struggle below the 80-day moving average. The semiconductor concern is down 10% year-over-year, and just touched an annual low of $86.13 in late April.

The Apple supplier has also seen a round of bullish bets come through recently, albeit amid low absolute volume. Data from the ISE, CBOE, and PHLX shows SWKS with a 10-day call/put volume ratio of 2.22, ranking in the 87th annual percentile. This high ranking shows that calls have been purchased over puts at a faster-than-usual pace during the past two weeks.

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