Offshore drillers likeAtwood Oceanics (ATW), Diamond Offshore Drilling (DO), Ensco (ESV), Noble (NE), Rowan Companies (RDC), Ocean Rig UDW (ORIG), and Transocean (RIG) have been on fire this week–and Evercore ISI’s James West and team credit a “2 sigma short interest unwind.” They explain:
As our new Energy trader Kevin Kenny noted this morning, Dont fight City Hall and we agree, especially in a beta chase. The offshore drillers have rallied 15% this week, second only to the land drillers +17% run. However, we believe this is due to short covering, as a portfolio of even lower-risk offshore drillers (Atwood Oceanics, Diamond Offshore Drilling, Ensco, Noble, Rowan Companies, and Transocean) has been shorted 4.4x their historical average. A total of 200 million shares were short as of May 31st versus an average of 50 million shares from 2005-2013, suggesting the group could be in the midst of a 2 sigma short interest unwind if oil continues to strengthen.
Hot Heal Care Stocks To Invest In Right Now: PACCAR Inc.(PCAR)
PACCAR Inc, together with its subsidiaries, designs, manufactures, and distributes light-, medium-, and heavy-duty trucks and related aftermarket parts worldwide. The company offers its trucks for use in the over-the-road and off-highway hauling of freight, petroleum, wood products, construction, and other materials to independent dealers under the Kenworth, Peterbilt, and DAF nameplates. It also provides finance and leasing products and services, such as inventory financing for independent dealers; and retail loan and lease financing for new and used trucks, as well as other transportation equipment; and full service leasing under the PacLease trade name. In addition, it manufactures and sells industrial winches under the Braden, Carco, and Gearmatic nameplates. PACCAR Inc was founded in 1905 and is headquartered in Bellevue, Washington.
- [By Monica Gerson]
Benzinga's newsdesk monitors options activity to notice unusual patterns. These large volume (and often out of the money) trades were initially published intraday in Benzinga Professional . These trades were placed during Friday's regular session.
PACCAR Inc (NASDAQ: PCAR) Aug16 52.5 Puts: 10000 @ ASK $1.70: 10k traded vs 335 OI: Earnings 7/26 $54.94 Ref Regeneron Pharmaceuticals Inc (NASDAQ: REGN) Jul16 345 Puts: 949 @ ASK $8.70: 1003 traded vs 55 OI: Earnings 8/2 $360.20 Ref NVIDIA Corporation (NASDAQ: NVDA) Fri 6/24 47.0 Puts (Wkly) Sweep: 689 @ ASK $1.12: 3758 traded vs 136 OI: Earnings 8/4 $46.69 Ref Medivation Inc (NASDAQ: MDVN) Sep16 55.0 Puts: 4000 @ Above Ask! $3.40: 5303 traded vs 716 OI: Earnings 8/4 $59.44 Ref Expeditors International of Washington (NASDAQ: EXPD) Aug16 47.0 Puts Sweep: 950 @ ASK $1.35: 973 traded vs 381 OI: Earnings 8/2 $48.15 Ref
Posted-In: Huge Put PurchasesNews Options Markets
Hot Heal Care Stocks To Invest In Right Now: Student Transportation Inc(STB)
Student Transportation Inc., together with its subsidiaries, provides student transportation solutions in North America. The company offers contracted, managed, special needs transportation, direct-to-parent, and charter services. As of October 1, 2015, it operated approximately 13,000 vehicles. The company delivers its services through drivers, dispatchers, maintenance technicians, terminal managers, information technology professionals, and members of local communities. The company was formerly known as Student Transportation of America Ltd. and changed its name to Student Transportation Inc. in November 2009. Student Transportation Inc. was founded in 1997 and is headquartered in Barrie, Canada.
- [By Monica Gerson]
Student Transportation Inc (NASDAQ: STB) is estimated to post its quarterly earnings at $0.04 per share on revenue of $167.40 million.
Exar Corporation (NYSE: EXAR) is projected to post its quarterly earnings at $0.09 per share on revenue of $38.38 million.
5 Best Industrial Disributor Stocks To Watch Right Now: DragonWave Inc(DRWI)
DragonWave Inc. (DragonWave) is a provider of packet microwave solutions for Internet protocol (IP) networks. The Company operates through broadband wireless backhaul equipment segment. The principal application of DragonWave’s products is mobile network backhaul. Additional applications include leased line replacement, last mile fiber extension and enterprise networks. The Company’s product lines include Harmony, Horizon, Avenue and NetViewer. The Harmony product line is a multi-service wireless platform enabling time division multiplexing (TDM) and packet-based services across wireless or wireline infrastructure. The Company’s Horizon product family is an Ethernet microwave portfolio and consists of Horizon Compact+ and Horizon Quantum. Its NetViewer is a multi-service, multi-product network management platform. The NetViewer enables provisioning, management, monitoring and configuration across the line of products in a single graphical user interface (GUI)-based system. Advisors’ Opinion:
- [By Monica Gerson]
DragonWave (NASDAQ: DRWI) dropped 17% to $2.05 after the company priced US$25 million public offering of units.
SmartPros (NASDAQ: SPRO) dropped 11.82% to $1.79. SmartPros’ trailing-twelve-month ROE is -16.31%.
Hot Heal Care Stocks To Invest In Right Now: Rockwell Medical Technologies Inc.(RMTI)
Rockwell Medical Technologies, Inc. manufactures, sells, and distributes hemodialysis concentrate solutions and dialysis kits primarily in the United States, Latin America, Asia, and Europe. The company?s hemodialysis product duplicates kidney function in patients with failing kidneys, known as end stage renal disease, an advanced stage of chronic kidney disease; and dialysis solutions are used to maintain life, remove toxins, and replace nutrients in the dialysis patient?s bloodstream. Its products include Renal Pure and CitraPure liquid acid concentrate, Dri-Sate dry acid concentrate and mixing systems, RenalPure powder bicarbonate concentrate, and SteriLyte liquid bicarbonate concentrates; and various ancillary products comprising blood tubing, fistula needles, specialized custom kits, dressings, cleaning agents, filtration salts, and other supplies. The company also has a license to manufacture and sell soluble ferric pyrophosphate (SFP), a Phase III clinical trial p r oduct to improve the treatment of dialysis patients with iron deficiency. Rockwell Medical Technologies sells its products to domestic hemodialysis providers through direct sales people and independent sales representation companies, as well as through independent sales agents and distributors internationally. The company was founded in 1995 and is based in Wixom, Michigan.
- [By Lisa Levin]
Thursday morning, the healthcare sector proved to be a source of strength for the market. Leading the sector was strength from Keryx Biopharmaceuticals (NASDAQ: KERX) and Rockwell Medical Inc (NASDAQ: RMTI).