NVDA, RUBI, and NPTN are among the stocks in the news today
U.S. stocks are gaining this morning, ahead of this afternoon's
Fed decision. Meanwhile, among specific names in focus are semiconductor stock
NVIDIA Corporation (NASDAQ:NVDA), tech firm
The Rubicon Project Inc (NYSE:RUBI), and circuit maker
NeoPhotonics Corp (NYSE:NPTN). Here's a quick roundup of the headlines moving shares of NVDA, RUBI, and NPTN.
NVIDIA Stock Dips Despite Bosch News
NVDA is down 0.2% at $101.65, giving up early gains stemming from reports the company is working with
Bosch (subscription required) to combine artificial intelligence with the industrial company's self-driving technology. While NVIDIA Corporation stock has returned to triple-digit territory, it still remains well below its all-time high of $120.92, and is now struggling to retake its 80-day moving average. Still, short-term options traders are unusually call-skewed, with NVDA boasting a Schaeffer's put/call open interest ratio (SOIR) of 0.89 -- just 8 percentage points from a 12-month high.
The Rubicon Project Falls Hard After Earnings
RUBI is getting crushed this morning, following the company's quarterly
earnings report, and news the firm hired a new CEO. A number of analysts were quick to respond, including downgrades from Craig Hallum and B.Riley, who both gave the stock the equivalent of a "hold" rating. RBC, meanwhile, cut its price target by more than 41% to $7 from $12. The stock is down 24% today at $6.38, bringing its 12-month loss to 60%. Most analysts were already in the bears' corner, with just three of 11 brokerage firms doling out "buy" or better opinions.
NeoPhotonics Forecast Spooks Wall Street
NPTN is also selling off after
earnings, last seen down 11.4% at $7.16, earlier hitting an annual low of $6.90. Most concerning was the company's current-quarter outlook, which came in well below estimates. In response, no fewer than four brokerage firms cut their price targets, with the lowest mark coming from B. Riley, at $8. NeoPhotonics Corp stock has been sliding on the charts since its September high of $18.51, yet most analysts remain bullish. Specifically, five of six brokerage firms rate NPTN stock a "strong buy," with no "sell" ratings on the books.
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