Analysts following Blue Apron remain upbeat, despite the increasingly bleak price action
U.S. stocks have started the day on a low note once again, amid ongoing tensions with North Korea and a lackluster slate of retail earnings. Retailer Kohl's Corporation (NYSE:KSS), meal supplier Blue Apron Holdings Inc (NYSE:APRN), and biotechnology company Galapagos NV (ADR) (NASDAQ:GLPG) are three stocks in the news this morning. Here's a quick look at what's moving shares of KSS, APRN, and GLPG.
KSS Stock Volatile After Earnings
Despite an early pre-market surge following its better-than-expected earnings report, Kohl's has reversed course. At last check, KSS was trading down nearly 8.7% at $38.30. The shares are now down more than 22% year-to-date.
Ahead of the retailer's quarterly report, KSS stock's short-term options were pricing in extremely high volatility expectations. As of last night's close, Kohl's
Schaeffer's Volatility Index (SVI) of 74% was docked in the 100th percentile of all other readings from the past year.
Blue Apron Gets Closer to a 50% Post-IPO Haircut
APRN stock is continuing its post-IPO underperformance after a disappointing second-quarter report. The food supplier was last seen trading 14.9% lower at $5.31, and earlier hit a low of $5.03 -- with the shares having shed nearly half their value since Blue Apron's late-June trading debut at $10.
Despite the stock's dismal performance, most analysts following APRN remain in the bullish camp. Specifically, seven analysts out of 12 carry a "buy" or "strong buy" recommendation on the shares.
GLPG Pops on Positive Drug Data
GLPG stock is off to a positive start after reporting
upbeat data on its idiopathic pulmonary fibrosis drug, which delivered positive results in a mid-stage study. Shares of the biotech stock have soared 7.7% to $78.77, snapping out of their recent slump.
With a short interest ratio of 3.8 days to cover, it seems likely that GLPG is benefiting from a short squeeze today. However, Galapagos stock has already pared its early gains to pull back below its 80-day moving average -- a former layer of support that recently switched roles to cap the equity's late-July highs.