U.S. stocks are trading higher today, with the S&P 500 aiming for its longest winning streak in years. Among the stocks making moves this morning are beverage company Constellation Brands, Inc. (NYSE:STZ), global delivery service FedEx Corporation (NYSE:FDX), and drugmaker Inovio Pharmaceuticals Inc (NASDAQ:INO). Here's a closer look at what's moving shares of STZ, FDX, and INO.
Constellation Brands stock is soaring, after the firm reported stronger-than-expected quarterly earnings and lifted its full-year profit forecast. The alcoholic beverage stock was last seen trading up 5% at $213.24, and just off a record high of $213.40.
At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), options traders have been favoring calls over puts during the past two weeks. STZ carries a 10-day call/put volume ratio of 2.02, ranking in the 70th percentile of its annual range.
FedEx stock is moving lower, amid reports that FAANG member Amazon (AMZN) has begun testing its own delivery service. FDX was last seen trading 2% lower at $217.75, on pace for a third straight loss since hitting a record high of $227 on Monday. Despite its recent dip, the delivery stock still boasts a 27% gain year-over-year.
FDX options traders have displayed a heavier-than-usual preference of calls over puts. Data from the ISE, CBOE, PHLX, show FDX's 10-day call/put volume ratio of 1.42 ranks in the 88th percentile of all other ratios in the past year.