Shares of Target Corporation (TGT) dropped sharply in trading on Friday after it was reported that the company was permanently discounting prices on many items in order to become more competitive against Amazon.com. Retail stores have been under increasing pressure against Amazon, and TGT management has signaled that it will make adjustments in order to assure that the company continues to be profitable. TGT shares closed down -1.99% to settle at 57.27. Keep an eye on TGT for further news.
Share of Bristol Myers (BMY) rose strongly in trading on Thursday after they ended a phase 3 trial early due to positive results. The company was evaluating using its Opdivo plus Yervoy in patients with previously untreated advanced or metastatic renal cell carcinoma. BMY shares ended the session at 62.84, a gain of 4.96% for the session. Keep an eye on BMY for further developments.
Shares of Mattel (MAT) dropped sharply in trading on Wednesday after it was reported that Toys “R” Us is seeking to restructure its $400M in debt by potentially filing for bankruptcy. This comes as little surprise to those following the children’s toy marketplace, as sales of LEGO and even Star Wars toys have slowed down substantially over time as interactive toys that can be linked to cellular devices have gained in popularity. MAT earnings have been slumping for years, so expect to see more downward pressure on the stock as we go forward. MAT closed down -3.21% to settle at 15.69 for the session.
Shares of Qualcomm (QCOM) slumped sharply in trading on Tuesday after a South Korean court denied the company’s request to stay a regulatory order. The order came from the Korean Fair Trade Commission and it had ordered QCOM to engage in “good-faith negotiations” with respect to the company’s practices in licensing its cellular patents. QCOM shares settled down -3.88% to close at 50.03. Keep an eye on the stock for a potential rebound.
VXX, the Barclay’s Volatility ETF, is poised to open sharply higher on Tuesday due to escalation of tensions with North Korea. The regime has boasted of successfully detonating a fusion bomb, which if true would mean that the country is much farther ahead in their nuclear program than previously expected. The VXX tracks the VIX index, which is poised to open about 12% higher. Keep an eye on VXX options as this situation develops.
Shares of Sarepta Therapeutics (SRPT) rose sharply in trading on Thursday on speculation that the company is a takeover target. After Kite Pharma was recently purchased by Gilead, speculation that other companies might be next in line has been elevated. However, no confirmation of this rumor has yet been established. SRPT shares finished the session up 2.60% to settle at 40.29. Keep an eye on the stock for further developments.
Shares of Gilead Pharmaceuticals (GILD) rose sharply in trading on Wednesday after it was reported that the company’s CAR-T therapy for leukemia received FDA approval. The drug is part of Gilead’s recent acquisition of Kite Pharma, which was developing the CAR-T therapy before acquisition. This should put upward pressure on GILD going forward, but some downside is also possible. GILD shares closed up 7.25% to settle at 81.23.
Shares of Dish Network (DISH) spiked in trading on Tuesday after news hit that a federal court had decided to ask the FCC to reconsider its previous conclusion that two companies affiliated with DISH in an airwaves auction did not meet requirements for small business discounts. The stock rose about 2% higher at first off of this move, but settled up 1.96% at 57.77 for the session. Keep an eye on DISH as traders continue to analyze the likely impact of this news on DISH.
Shares of Sprouts Farmers Market (SFM) fell sharply in trading on Monday after Amazon promised to lower prices for Whole Foods, which is a direct competitor to SFM. Amazon is in the process of acquiring Whole Foods, and speculation is strong that this move will both reduce prices for Whole Foods as well as increase their market share versus competitors such as SFM. SFM shares closed down -9.71% to settle at 19.72. Keep an eye on SFM for further developments.
Shares of Broadcom Ltd (AVGO) fell sharply in trading on Friday, despite beating expectations on earnings and revenue. AVGO supplies parts for Apple’s upcoming Iphone, so it was surprising to many analysts that the market turned bearish on AVGO despite its earnings beat. At this point, it seems likely that the stock will see significant volatility going up to the launch of the new Iphone. AVGO shares settled down -3.71% to close at 245.59.