Buzz Stocks: Novogen, Amarin, and Lumber Liquidators

Today's stocks to watch in the news include Novogen Limited (ADR) (NVGN), Amarin Corporation plc (ADR) (AMRN), and Lumber Liquidators Holdings Inc (LL)

Mar 4, 2015 at 9:17 AM
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U.S. benchmarks will likely drop out of the gate, following lackluster pre-payrolls jobs data. In company news, today's stocks to watch include pharmaceutical firms Novogen Limited (ADR) (NASDAQ:NVGN) and Amarin Corporation plc (ADR) (NASDAQ:AMRN), as well as hardwood flooring seller Lumber Liquidators Holdings Inc (NYSE:LL).

  • NVGN is ready to soar at the open, following a promising pre-clinical study of its brain cancer drug Trilexium. The company is aiming to launch a phase 1 clinical trial early next year. Ahead of the bell, Novogen Limited is perched nearly 46% higher, after closing Tuesday at $2.51. A bull gap could pressure additional short sellers to hit the exits. During the most recent reporting period, short interest on NVGN dropped 19.1%.

  • AMRN is 9.1% higher in electronic trading, after reporting a slimmer-than-expected fourth-quarter loss. "Amarin made broad and significant progress in 2014 overcoming first quarter 2014 restructuring issues and starting 2015 with significant positive momentum," said CEO John Thero. Technically speaking, it's already been a great year for Amarin Corporation plc, which has added 57.1% to trade at $1.54. As such, traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have been placing bullish bets over bearish in recent weeks. During the last 10 sessions, 2,137 AMRN calls have been bought to open, versus just three puts.

  • LL, which got hammered earlier this week following a damning "60 Minutes" report, announced it will host a conference call on March 12 to provide a business update. Traders are reacting positively ahead of the bell, with the shares up 1.5%. Lumber Liquidators Holdings Inc closed yesterday at $40.78 -- just off Monday's two-year low of $38.19, and down 38.5% in 2015. Amid this technical tumult, short selling has picked up. LL's short interest rose almost 28% during the two most recent reporting periods, and now makes up close to 30% of its float -- which would take three weeks to cover, at the stock's average trading volume.

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