Buzz Stocks: Pandora Media, Biogen, and Nokia Corp

Today's stocks to watch in the news include Pandora Media Inc (P), Biogen Inc (BIIB), and Nokia Corporation (ADR) (NOK)

Jul 24, 2015 at 9:38 AM

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U.S. stocks are higher following strong earnings from a few heavyweights. In company news, today's stocks to watch include Internet radio provider Pandora Media Inc (NYSE:P), drugmaker Biogen Inc (NASDAQ:BIIB), and tech concern Nokia Corporation (ADR) (NYSE:NOK).

P reported better-than-forecast quarterly numbers, and also upped its full-year outlook. As such, the shares are up 14.3% at $15.86 in early trading -- though still 17% lower from their most recent peak of $19.20 in late May. Short-term option speculators are extremely put-skewed toward Pandora Media Inc right now. The stock's Schaeffer's put/call open interest ratio (SOIR) of 1.19 indicates put open interest outstrips call open interest among options expiring in the next three months. Also, P's SOIR ranks in the 98th percentile of its annual range.

BIIB is down 17.5% at $317.90, as the company's downwardly revised full-year outlook overshadows a second-quarter earnings beat. Today's bear gap has wiped out the stock's year-to-date gains. Call buyers are likely unhappy with this sharp downside move -- which follows Wednesday's data-induced dive. During the last 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have bought to open 1.65 calls for every put -- a ratio that is higher than 82% of comparable readings from the past year.

Finally, NOK's proposed acquisition of Alcatel Lucent SA (ADR) (NYSE:ALU) has received approval from the European Commission. Traders are cheering the news, with Nokia Corporation up 1.5% at $6.82. However, the stock's 50-day moving average is just overhead, and could act as a speed bump. Put players are counting on NOK to steepen its year-to-date deficit, which sits at 13.1%. The security's 10-day ISE/CBOE/PHLX put/call volume ratio is 1.86, with long puts nearly doubling calls. On top of that, this ratio registers in the bearish 98th percentile of its annual range. Looking ahead, NOK will report earnings next Thursday morning.

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