The Nordstrom family has formed a group to explore taking the retailer private
The stock market is trading higher, as Wall Street digests former FBI Director James Comey's congressional testimony. There are a number of stocks making volatile moves, though, including high-end department store Nordstrom, Inc. (NYSE:JWN), cancer treatment specialist NewLink Genetics Corp (NASDAQ:NLNK), and hydrogen generation name Hydrogenics Corporation (USA) (NASDAQ:HYGS). Here's a quick look at what's moving shares of JWN, NLNK, and HYGS.
JWN Stock Soars on Reports the Retailer Could Go Private
Nordstrom stock is trading up 10.8% at $44.89, on reports the retailer is considering going private. Specifically, several members of the Nordstrom family who collectively own a roughly 31.2% stake of JWN have formed a group to explore this option. The pop comes at an ideal time for JWN stock, which was staring at a nearly 16% year-to-date deficit heading into today's trading to test its footing near the round $40 mark.
Today's surge has the shares nearly filling a mid-May earnings bear gap -- and short sellers could be caught off guard. More than 24% of JWN's float is sold short, or 5.4 times the average daily pace of trading.
NLNK Stock Sinks to New Low
NewLink Genetics stock has plunged 32.9% to trade at $7.13 -- the worst performer on the Nasdaq -- and earlier hit a five-year low of $7.07. The shares are reacting to news Genentech will return the rights to NLNK's immuno-oncology drug candidate, GDC-0919, though a research collaboration between the two companies will continue. Pouring salt on the proverbial wound is a downgrade to "neutral" from "outperform" from Baird, which slashed its price target (to $8 from $25) along with Jefferies (to $7 from $18).
As NLNK stock continues to move further away from its 52-week high of $25.17 from April 3, there's plenty of room for more analysts to lower their outlooks. In fact, not a single one of the five brokerages covering NewLink Genetics maintains a "sell" rating, while the average 12-month price target is docked at a lofty $24.60, as of last night's close.
HYGS Stock Hits New High on Fuel Cell Deal
Hydrogenics stock has surged 18.2% to trade at $8.30 -- fresh off an annual high of $9.25 -- after the company said it inked a roughly $50 million purchase and licensing deal with Blue-G New Energy Science and Technology Corp for 1,000 fuel cells. HYGS shares are now sitting on an 88.6% year-to-date gain, and options traders are showing unusual interest in the stock. Though volume is still light on an absolute basis -- just 327 contracts have traded -- it's running at three times what's typically seen at this point in the day.
The stock market is trading higher, as Wall Street digests former FBI Director James Comey's congressional testimony. There are a number of stocks making volatile moves, though, including high-end department store Nordstrom, Inc. (NYSE:JWN), cancer treatment specialist NewLink Genetics Corp (NASDAQ:NLNK), and hydrogen generation name Hydrogenics Corporation (USA) (NASDAQ:HYGS). Here's a quick look at what's moving shares of JWN, NLNK, and HYGS.
JWN Stock Soars on Reports the Retailer Could Go Private
Nordstrom stock is trading up 10.8% at $44.89, on reports the retailer is considering going private. Specifically, several members of the Nordstrom family who collectively own a roughly 31.2% stake of JWN have formed a group to explore this option. The pop comes at an ideal time for JWN stock, which was staring at a nearly 16% year-to-date deficit heading into today's trading to test its footing near the round $40 mark.
Today's surge has the shares nearly filling a mid-May earnings bear gap -- and short sellers could be caught off guard. More than 24% of JWN's float is sold short, or 5.4 times the average daily pace of trading.
NLNK Stock Sinks to New Low
NewLink Genetics stock has plunged 32.9% to trade at $7.13 -- the worst performer on the Nasdaq -- and earlier hit a five-year low of $7.07. The shares are reacting to news Genentech will return the rights to NLNK's immuno-oncology drug candidate, GDC-0919, though a research collaboration between the two companies will continue. Pouring salt on the proverbial wound is a downgrade to "neutral" from "outperform" from Baird, which slashed its price target (to $8 from $25) along with Jefferies (to $7 from $18).
As NLNK stock continues to move further away from its 52-week high of $25.17 from April 3, there's plenty of room for more analysts to lower their outlooks. In fact, not a single one of the five brokerages covering NewLink Genetics maintains a "sell" rating, while the average 12-month price target is docked at a lofty $24.60, as of last night's close.
HYGS Stock Hits New High on Fuel Cell Deal
Hydrogenics stock has surged 18.2% to trade at $8.30 -- fresh off an annual high of $9.25 -- after the company said it inked a roughly $50 million purchase and licensing deal with Blue-G New Energy Science and Technology Corp for 1,000 fuel cells. HYGS shares are now sitting on an 88.6% year-to-date gain, and options traders are showing unusual interest in the stock. Though volume is still light on an absolute basis -- just 327 contracts have traded -- it's running at three times what's typically seen at this point in the day.
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