Dick's Sporting Goods is spiraling on reports that rival Nike's about to broaden its base
Stocks are mixed at midday, as traders weigh sliding oil prices against rallying tech shares. Among specific names making big moves are social media stock Twitter Inc (NYSE:TWTR), retailer Dick's Sporting Goods Inc (NYSE:DKS), and cancer treatment specialist Epizyme Inc (NASDAQ:EPZM). Here's a quick look at what's moving shares of TWTR, DKS, and EPZM.
TWTR Stock Pops on Positive Advertiser Feedback
Twitter shares are trading up 5.4% at $17.83, after Cleveland Research waxed optimistic on improvement in the company's strategy and execution, as well as the "constructive feedback" it's received from advertisers. TWTR stock is now boasting a 9.7% year-to-date lead, and is set to end atop both its 10- and 20-day moving averages for just the second time since mid-May. Nevertheless, the majority of analysts remain on the sidelines, with all but one of the 23 brokerages following Twitter maintaining a "hold" or worse rating.
DKS Stock the Latest Retailer on Amazon's Hit List
Dick's Sporting Goods shares have plunged 6% to trade at $37.19 -- fresh off a new annual low of $35.87 -- after Goldman Sachs said it expects Nike to begin selling its products on Amazon. DKS is now staring at a 30% year-to-date deficit, failing to capitalize on a recent burst of short covering. Since the May 1 reporting period, short interest on the stock has dropped 11.2%, while the security has lost more than one-quarter of its value over the same time frame.
EPZM Stock Jumps On Regulatory Nod for STS Cancer Drug
Epizyme stock was up 10.5% earlier, last seen trading 8% higher at $14.85. Boosting the shares is news the Food and Drug Administration's (FDA) granted orphan drug status to EPZM's soft tissue sarcoma (STS) treatment, tazemetostat. The security has surged nearly 60% since reporting positive mid-stage data for the drug last Wednesday, June 14 -- a move that may, in part, be due to a short squeeze. Almost 14% of EPZM's float is sold short, or eight days' worth of pent-up buying demand, at the stock's average pace of trading.