SODA, FIG, and GRPN are among the stocks in the news today
U.S. stocks are trading higher, ahead of another day of testimony by Fed Chair Janet Yellen. Among specific equities in focus today are carbonated beverage stock Sodastream International Ltd (NASDAQ:SODA), investment firm Fortress Investment Group LLC (NYSE:FIG), and daily deals e-tailer Groupon Inc (NASDAQ:GRPN). Here's a quick look at what's driving SODA, FIG, and GRPN shares.
Sodastream Hot After Earnings Boost
SODA is up 5.6% at $49.98 -- and just off a three-year high of $50.30 -- after the company delivered an earnings win, beating profit and sales expectations, thanks to strong starter kit sales. SODA is up more than 270% year-over-year, and has been on a steady trek higher since its last earnings report in November. Despite this technical strength, options traders have been more bearish than usual towards the shares, with Sodastream International Ltd's 50-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 0.60 sitting just 4 percentage points from an annual peak.
Fortress Investment Higher After Softbank M&A
FIG is up 29.4% at $8.04, after agreeing to a buyout of $3.3 billion, or about $8.08 per share, by Japan's SoftBank Group Corp. Today's jump marks a new annual high for FIG, which is now trading up 91.9% year-over-year. A handful of near-term options players are likely celebrating the buyout news. Fortress Investment Group LLC's Schaeffer's put/call open interest ratio (SOIR) of 0.13 sits in just the 16th percentile of its annual range, indicating short-term traders are more call-skewed than usual.
Groupon Jumps on Alibaba News, Earnings
GRPN is trading 16.4% higher at $4.40, after the company reported earnings this morning, with sales coming in above expectations. In addition, traders are cheering after Chinese e-tail giant Alibaba Group Holding Ltd (NYSE:BABA) disclosed a 5.7% passive stake in Groupon Inc. This puts the shares above their 200-day moving average for the first time since October, though GRPN still remains more than 25% off its annual peak in August. A number of short sellers may be kicking rocks today, as short interest represents nearly seven days' worth of pent-up buying demand, at GRPN's average daily trading volume.
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