Earnings Winners: SNX and UNF Stocks

By Josh Selway / June 26, 2019 / www.schaeffersresearch.com / Article Link

Hands_Green_ChartSNX and UNF shares are rallying in today's trading

Two stocks worth touching on today because of their huge post-earnings moves areSynnex Corporation (NYSE:SNX) andUniFirst Corp (NYSE:UNF). Let's look at how SNX and UNF shares are trading, and some of the sentiment data around them, as well.

SNX shares were last seen trading up 10.1% at $101.33, on pace for their highest close in more than a month. The logistics services specialist beat on the top and bottom lines, and today's price action has the shares back above their formerly supportive 80-day moving average, though they're still negative on a year-over-year basis.

Options volume is generally light on Synnex, but those holding contracts that expire within three months are very put-skewed at the moment. This is according to the equity's Schaeffer's put/call open interest ratio (SOIR) of 2.16, which actually ranks as an annual high. Short interest is also high on the security, as it would take almost seven days for shorts to cover, based on SNX's average daily trading volume.

UNF shares are trading at their highest point since last September, last seen up 6% on the day at $176.63. Earnings per share blew past estimates, and revenue for the quarter was strong, as well. Traders are also cheering stronger-than-expected full-year guidance. Today's price action puts the stock's year-to-date gain at 23.5%, and follows last quarter's 8.4% move for the day after earnings.

Still, sentiment seems quite bearish on the workplace uniform provider, with just one covering analyst recommending to buy the stock. And while absolute options activity is even lighter on UNF than SNX, the security's SOIR comes in at a very put-heavy 5.50.

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