2 Retail Stocks Popping on Earnings Beats

INSY stock just hit an all time low after getting the Nasdaq boot

Digital Content Manager
Jun 11, 2019 at 3:29 PM
facebook X logo linkedin


The Dow is higher today, set for a seventh straight win. Three names to watch today are women's clothing specialist Chico's FAS, Inc. (NYSE:CHS), drugmaker Insys Therapeutics Inc (NASDAQ:INSY), and convenience store operator Casey's General Stores Inc (NASDAQ:CASY). Here's what's moving the shares of CHS, INSY, and CASY.

Chico's Stock Pops Post-Earnings

Chico's is pacing for its best day since February 2018 today, after unveiling first-quarter earnings and revenue that came in higher than analyst expectations. While the White House Black Market parent also reported a same-store sales miss, the shares managed to hit a new one-month high atop the $4 region earlier today. The stock has pared back some of its earlier gains, up 11.7% to trade at $3.81 -- poised to close above its 50-day moving average, which has acted as a ceiling on the charts of late -- for the first time since early March. 

With CHS just recently bottoming out at 10-year lows in late May, it's no surprise that analysts are still skeptical on the retail stock. The equity holds seven tepid "hold" or worse ratings, compared to only one "strong buy." Just today, Jefferies lowered its price target to $4 from $6.

INSY Stock Crashes to Fresh Low After Nasdaq Delisting 

The biotech name INSY plummeted to an all-time low of $0.20 earlier today, down 68%, after the Nasdaq announced plans to delist the stock after the firm filed for bankruptcy protection. Insys stock has been under pressure since the Justice Department filed a lawsuit against the drugmaker, accusing it of bribing doctors to prescribe powerful opiod medicine. The Nasdaq delisting comes just days after INSY agreed to a $225 million settlement. 

Naturally, short interest on INSY is through the roof, with the 11 million shares sold short representing a whopping 42.3% of the stocks available float and nearly nine days' worth of buying power, at the equity's average pace of trading. While short sellers would be celebrating the pharma name's most recent drop, INSY has been put on the short-sale restricted (SSR) list today.

CASY Stock Hits All-Time High on Profit Beat

Shares of CASY just hit a fresh high of $149.98 earlier today, before paring some of their gains. The equity is now eyeing its best day in over nine years, up 11.4% at $148.23 after the company's fourth-quarter earnings and revenue came in atop analysts' estimates. 

The surge has options traders storming in, with call volume sitting in the 99th percentile of its annual range. So far, 3,010 calls have crossed the tape, which is 47 times what's normally seen. The June 155 call is by far the most popular, with most of these contracts being sold to open, with the majority of traders speculating on the underlying stock trading beneath the $155 until the contract's expiration on June 21. 

 

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 C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI