The shares of India-based movie company Eros International (NYSE:EROS) are higher today, thanks to a new high-profile investor just ahead of earnings. Meanwhile, shares of American movie theater titan IMAX Corp (NYSE:IMAX) are rallying thanks to a huge box-office debut for "Black Panther" and a big weekend in China. What's more, both EROS and IMAX stocks could enjoy a short squeeze.Ample Fuel for...Read More
After making huge post-earnings moves in the past two quarters, volatility expectations are surging on Advance Auto Parts, Inc. (NYSE:AAP) ahead of the company's earnings release tomorrow morning. Specifically, AAP jumped 16.3% in the session after earnings last quarter, though this followed a one-day post-earnings slide of 20.3% back in August. Implied volatility (IV) data suggests the options ma...Read More
Late Friday, a federal judge reversed a jury order requiring Gilead Sciences, Inc. (NASDAQ:GILD) to pay Merck (MRK) $2.54 billion in a hepatitis C patent infringement case. In response, RBC hiked its GILD price target to $94 from $92, and the stock is up 0.8% to trade at $81.36. RBC's lofty new price-target represents territory GILD stock has not seen since April 2016. Nevertheless, the equity boa...Read More
The Dow Jones Industrial Average (DJI) is in danger of snapping its six-session win streak, pressured by a negative earnings reaction for big-cap retailer Walmart (WMT). Stocks are also reacting surging bond yields and a strengthening U.S. dollar ahead of a Treasury Department auction of short-term notes. Nevertheless, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are clinging to a modest ga...Read More
Tech stock Ubiquiti Networks Inc (NASDAQ:UBNT) is tanking today, after the Securities and Exchange Commission (SEC) issued subpoenas to several officers, and requested accounting and trade documents. Last September, notable short-selling firm Citron Research called Ubiquiti a "total fraud," and compared its CEO to Bernie Madoff. Meanwhile, biotech MiMedx Group Inc (NASDAQ:MDXG) is also in hot wa...Read More
Aimmune Therapeutics Inc (NASDAQ:AIMT) stock is in focus this morning, after the company's peanut allergy drug AR101 met its late-stage study goals. Aimmune will now seek U.S. approval by the end of 2018. After being halted in pre-market trading, AIMT stock is up 1.3% to trade at $37.30, and touched a fresh record high of $42 out of the gate this morning.Thestock has been climbing since October,...Read More
Shares of Wayfair Inc (NYSE:W) and Etsy Inc (NASDAQ:ETSY) have outperformed over the past year, and analysts are expecting more upside ahead as both companies prepare to report earnings over the next week. Let's take a quick look at W and ETSY stocks today, and how Wall Street is gearing up for the upcoming quarterly updates. Wayfair Hits New High After Price-Target HikesWayfair this morning saw i...Read More
Rite Aid Corporation (NYSE:RAD) stock is up 11.5% in electronic trading, after grocery chain Albertsons said it will buy the parts of the drugstore that are not being sold to Walgreens Boots Alliance (WBA) -- following last year's failed merger. RAD CEO John Standley will head the combined company, which is expected to bring in roughly $83 billion in annual revenue. The deal is expected to close i...Read More
Stocks are pointed lower to kick off the shortened week, with equities on track to snap their winning streaks. Dow Jones Industrial Average (DJI) futures are down triple digits, as retail giant Walmart (WMT) takes a pre-market dive afterfourth-quarter earnings fell short of estimates. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are down as well, moving inversely to a rising U.S. d...Read More
"To the degree computers were taking cues off volatility, sell programs were likely tripped, causing major losses in the equity market. And as I've cautioned before, once there is a 'trigger' to destabilize equities, the never-ending put open interest that builds up below the market month after month on equity exchange-traded funds (ETFs), such as the SPY, can become magnets. This is likely what w...Read More
Headlines regarding the recent explosion in equity volatility were somewhat hyper-focused on the pitfalls of trading volatility derivatives, for which the soon-to-be liquidated VelocityShares Daily Inverse VIX Short-Term ETN (XIV) was the unfortunate "poster child." But while markedly less catastrophic and climactic, the price action of late in the iPath S&P 500 VIX Short-Term Futures ETN (VXX) ha...Read More
The Dow was up over 230 points at its session high, as traders cheered Coca-Cola earnings and upbeat housing data. However, the major market indexes lost some steam in afternoon trading -- and the Nasdaq turned lower -- following the U.S. indictment of several Russian nationals and entities for interfering with the 2016 presidential election. Nevertheless, the Dow and S&P extended their winning st...Read More
Home Depot Inc (NYSE:HD) is one of the headliners on next week's earnings calendar, with the home improvement retailer set to report alongside fellow blue chip Walmart (WMT) ahead of the open next Tuesday, Feb. 20. With the stock market closed on Monday for Presidents Day, options traders are blasting HD stock today -- and calls continue to be the contracts of choice.At last check, roughly 25,000...Read More
On the heels of its worst week in years -- and a brutal start for new Fed Chair Jerome Powell -- the U.S. stock market bounced back, and flashed a rare signal not seen since 2001. As of this writing, the Dow was on track for its best week since the "Trump rally" kicked off in November 2016, while the S&P 500 Index (SPX) and Nasdaq are pacing for their strongest weeks since December 2011. The ben...Read More
Steel stocks are skyrocketing this afternoon, after the Commerce Department recommended the Trump administration impose steep tariffs and quotas on imports of steel and aluminum.Against this backdrop, options volume is skyrocketing on a handful of domestic steel producers, including Steel Dynamics, Inc. (NASDAQ:STLD) and United States Steel Corporation (NYSE:X).STLD Attracts Eleventh-Hour Option B...Read More
U.S. stocks are climbing today, and at last check, all three benchmarks are headed for some impressive win streaks. Among stocks making notable moves today, drugmaker Pacira Pharmaceuticals Inc (NASDAQ:PCRX) is struggling, while fellow pharmaceutical stocks Calithera Biosciences Inc (NASDAQ:CALA) and Acer Therapeutics (NASDAQ:ACER) are surging higher. Here's a closer look at what shares of PC...Read More
The S&P 500 Index (SPX) last week suffered its worst week since 2016. However, U.S. stocks have been on a tear since then, with the major market indexes pacing for their sixth straight gain, and the SPX on track for its best week since December 2011, up 4.7% so far. Should these gains hold, it would send up a stock market signal not seen since 2001.S&P Pacing for 10th Signal EverSpecifically, the...Read More
It's another positive trading day, with the Dow Jones Industrial Average (DJI) eyeing a sixth straight win -- its longest daily win streak since early November. In addition to strong Coca-Cola earnings, upbeat economic data is also helping to lift investor sentiment. Namely, housing starts hit their highest point in more than a year, building permits climbed to a 10-year peak, and consumer sentime...Read More
Fast food stock Jack in the Box Inc. (NASDAQ:JACK) is rallying today, after Jana Partners disclosed a 7.3% stake in the company. According to an SEC filing, the hedge fund believes JACK shares are undervalued, and has held discussions with management regarding its capital structure and allocations, margins, operations, and franchise mix. Going forward, Jana may "take other steps to increase shareh...Read More
Offshore drilling contractor Transocean Ltd. (NYSE:RIG) is slated to report fourth-quarter earnings after the market closes next Tuesday, Feb. 20, with consensus estimates calling for a loss of 27 cents per share. RIG has managed to trade higher the day after earnings following six of its last eight quarterly reports -- but ahead of next week's reports, traders on Wall Street appear to be bracing...Read More