CLF, EYEN Stocks Have Huge Sessions

Vale SA slashed its iron ore output

Managing Editor
Jan 30, 2019 at 2:04 PM
facebook X logo linkedin

Stocks are confidently higher today, as investors await the latest Fed statement later today. Mining stock Cleveland-Cliffs Inc (NYSE:CLF) and pharma stock Eyenovia Inc (NASDAQ:EYEN) are soaring, while telecom giant AT&T (NYSE:T) is struggling. Below, we'll take a look at what's moving the shares of CLF, EYEN, and T.

Soaring Iron Ore Prices Power CLF Surge

Near the top of the New York Stock Exchange (NYSE) is Cleveland-Cliffs stock, up 16.6% to trade at $10.72. Fellow mining company Vale SA (VALE) earlier today announced an iron output cut in the wake of the Brazilian mining disaster. This has sent the prices of iron ore soaring and mining stocks sharply higher. CLF is on track for its best day since February 2017, and brings its year-to-date gain up to 39%. 

A short squeeze could keep the wind at CLF's back. Short interest fell 1% in the last two reporting periods to 48.54 million shares. However, this represents 16.5% of the security's total available float, and nearly 6.4 times the average daily trading volume.

There could also be some pessimism to be unwound in the options pits. Its Schaeffer's put/call open interest ratio (SOIR) of 1.01 is in the 100th percentile of its annual range, so short-term option players have rarely been more put-heavy in the past 12 months.

Upbeat Drug Data Fueling EYEN's Huge Day

Eyenovia stock is up 10.6% at $2.91, and earlier traded as high as $4.20, after the pharma company's treatment for eye dilation met its main goals in a late-stage study. Despite the burst today -- on track for its best single-day session ever -- EYEN still has shed roughly 70% year-over-year. 

Analysts have remained bullish. All three of the brokerages in coverage rate EYEN a "buy" or better, and the stock's consensus 12-month price target of $20.67 is well into record-high territory.

Revenue Miss Has T Breaching Key Trendline

Earlier today, AT&T reported a fourth-quarter revenue miss, as well as fewer-than-expected new subscribers for the quarter. This has T stock down 4.6% to trade at $29.28. The shares are now breaching their 40-day moving average for the first time in 2019, an area that coincides with the $30 level. 

The subpar quarterly report could prompt a shift in analyst attention. Currently, 11 out of 19 brokerages rate T a "buy" or better, with zero "sells" on the books. In addition, the security's consensus 12-month price target of $34.32 sits in territory not seen since an early October bear gap.


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