Today's Big M&A Winner; Anthem Stock Rallies

STAF stock is holding near session highs

Jul 9, 2018 at 2:32 PM
facebook X logo linkedin

The Dow is rallying for a second straight session. Three stocks making noteworthy moves are health insurer Anthem Inc (NYSE:ANTM), pharma name Dova Pharmaceuticals Inc (NASDAQ:DOVA), and workplace services provider Staffing 360 Solutions Inc (NASDAQ:STAF). Below, we will take a closer look at how shares of ANTM, DOVA, and STAF are trading.

ANTM Rises During Healthcare Uncertainty

The healthcare sector is in focus today, and ANTM stock is up 2.2% at $247.50 amid the noise. Leading the way is the Trump administration's decision over the weekend to halt a program from the Affordable Care Act (ACA) that helped insurers cover patients with pre-existing conditions. Meanwhile, BMO Capital upgraded Anthem shares to "outperform" from "market perform" based on its new view for expected earnings growth.

As a result, the security is on pace for its highest close since January, with the shares bottoming near the 200-day moving average back in early June. The move could be good news for options traders, based on ANTM's Schaeffer's put/call open interest ratio (SOIR) of 0.44 -- only 1 percentage point from an annual low. In other words, near-term speculators are unusually call-heavy.

Leerink Downgrade Sinks DOVA Shares

Shares of DOVA have fallen 11.68% to trade at $25.81, putting them below the 50-day moving average for the first time since June 5. Leerink smacked the stock with a downgrade to "market perform" from "outperform" and trimmed its price target to $33 from $35, listing a number of potential headwinds for the company's blood platelet drug Doptelet. The equity has been quite volatile, last seen trading just below its year-to-date breakeven level. Short interest is enormous on Dova Pharmaceuticals, accounting for 43.4% of the total float following a nearly 30% increase in the past two reporting periods.

STAF Surges on M&A News

STAF is one of Wall Street's biggest winners today, last seen trading 300% higher near $5.47 -- though it fell just shy of a new 52-week high, peaking 5 cents short at $5.65. The shares have also taken out long-term resistance at the 50-day moving average. Sparking the explosion was the company's decision to buy London's Clement May. There are just two brokerage firms in coverage on Staffing 360 Solutions, but they're very bullish, considering the average 12-month price target is $11.75.


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