Q2 STOCKS TO BUY

Stocks On the Move: Skyworks Solutions Inc, Marinus Pharmaceuticals Inc, and Iconix Brand Group Inc

Apple supplier Skyworks Solutions Inc (SWKS), biotech stock Marinus Pharmaceuticals Inc (MRNS), and brand management firm Iconix Brand Group Inc (ICON) are among the stocks making big moves in today's trading

Dec 30, 2016 at 3:12 PM
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U.S. stocks are lower in the final session of 2016. Among specific equities in focus today are semiconductor stock Skyworks Solutions Inc (NASDAQ:SWKS), biotech stock Marinus Pharmaceuticals Inc (NASDAQ:MRNS), and brand management firm Iconix Brand Group Inc (NASDAQ:ICON). Here's a quick look at what's moving SWKS, MRNS, and ICON.

  • SWKS is down 2.7% at $74.51, as Apple Inc. (NASDAQ:AAPL) suppliers sink amid reports of iPhone production cuts in the first quarter of 2017. The shares of SWKS have muscled more than 30% higher since their late-June lows, but have spent the fourth quarter butting heads with the round-number $80 level, and are now set to end 2016 with a 2.9% deficit. While analysts adore SWKS -- 13 out of 19 offer up "buy" or better endorsements -- recent option buyers are in the bearish camp. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Skyworks Solutions Inc has racked up a 10-day put/call volume ratio of 1.68 -- higher than 92% of all other readings from the past year, suggesting speculators are picking up long puts over calls at a much faster-than-usual clip of late.

  • MRNS is up 24% at $1.03, on news that its Fragile X Syndrome treatment, ganaxolone, has received orphan drug status from the U.S. Food and Drug Administration (FDA). MRNS has been in the low single digits since its mid-June bear gap, and is on pace to close above its 30-day moving average for the first time since Sept. 29. Today's turnaround is a welcome change for the biotech, which prior to today had underperformed the greater S&P 500 Index (SPX) by more than 51 percentage points over the last three months.
  • ICON is up 6% at $9.50 today, on news that it will sell its electronics brand Sharper Image to ThreeSixty Group for $100 million cash. The shares have roughly doubled since their late-January lows, and have been supported by their 10-month moving average since August. In the option pits, Iconix Brand Group Inc sports a Schaeffer's put/call open interest ratio (SOIR) of 3.71, which sits just 2 percentage points from an annual peak, suggesting near-term option players have rarely been more put-biased over the past 12 months. Short interest, meanwhile, represents a whopping 21 days' worth of pent-up buying demand, at ICON's average trading volume.
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