U.S. stock markets are back at record highs, after the Senate voted to pass a short-term funding bill, which will end the three-day government shutdown. Among individual stocks making big moves are cancer specialist bluebird bio Inc (NASDAQ:BLUE), casino operator Wynn Resorts, Limited (NASDAQ:WYNN), and semiconductor services provider Sanmina Corp (NASDAQ:SANM). Here's a quick look at what's moving shares of BLUE, WYNN, and SANM.
Bluebird bio stock has gapped 15.5% higher to trade at $198, boosted by M&A-related tailwinds from sector peer Juno Therapeutics (JUNO). This positive price action is just reflective of BLUE's longer-term strength, with the shares tripling in value on a year-over-year basis. And while the equity has recently pulled back from its Dec. 11 record high, bluebird bio's rising 60-day moving average has emerged as support.
Short sellers have been closing out of their losing bets, too, with these bearish bets down 22.4% in the two most recent reporting periods. Considering it would take BLUE shorts more than a week to cover the remaining shares, at the average pace of trading, the stock stands to benefit from more sideline cash.
Wynn Resorts reported fourth-quarter earnings of $1.40 per share on revenue of $1.69 billion, stronger than analysts had forecast. In reaction, WYNN stock has shot up 8.3% to trade at $194.53 -- earlier tagging a three-year high of $194.84, and on track for its seventh straight win.
WYNN shares are now up almost 113% year-over-year, and bullish brokerage notes could follow. While six of 13 analysts still maintain a lukewarm "hold" rating on WYNN, the average 12-month price target of $172.87 stands at a discount to current trading levels.
Sanmina stock plunged to a 14-month low of $26.65 earlier, and was last seen down 23.7% to trade at $27.04. Weighing on the shares is the company's lower-than-expected preliminary fiscal first-quarter earnings report -- released last Friday night -- which earned SANM price-target cuts this morning from RBC (to $31) and Craig-Hallum (to $37).
More broadly, the stock briefly capitalized on a 41.6% plunge in short interest in the most reporting period. However, this brought SANM shares barreling into familiar resistance in the $35-$36 region, home to the equity's 120-day moving average and its late-October bear gap highs.