Buzz Stocks: The Greenbrier, Ocular Therapeutix, FedEx

Today's stocks to watch in the news include Greenbrier Companies Inc (GBX), Ocular Therapeutix Inc (OCUL), and FedEx Corporation (FDX)

by Alex Eppstein

Published on Apr 7, 2015 at 9:34 AM
Updated on Jun 29, 2020 at 11:29 AM

U.S. stocks are sitting modestly higher in early trading, taking their cue from overseas markets. In company news, today's stocks to watch include railroad equipment manufacturer Greenbrier Companies Inc (NYSE:GBX), biotech Ocular Therapeutix Inc (NASDAQ:OCUL), and package delivery specialist FedEx Corporation (NYSE:FDX).

  • GBX has surged 3.2% out of the gate to trade at $62.54, after the company posted a massive second-quarter earnings beat and lifted its 2015 profit forecast. This technical tenacity is more of the same for Greenbrier Companies Inc -- even before today, the shares were up more than 40% on a year-over-year basis. As such, analysts have blazed a bullish path toward the stock, handing out seven "buy" or better ratings versus just one "hold" and a single "strong sell" recommendation. Meanwhile, today's upside gap is likely putting the pressure on short sellers. Nearly 35% of GBX's float is sold short, which would take more than two weeks to cover, at its typical daily trading volumes.

  • On the flip side, OCUL is getting destroyed out of the gate, after the firm's eye drug disappointed during a late-stage study. While the treatment was able to reduce pain in patients following cataract surgery, it did not reduce inflammation -- a key goal in the trial. As such, Ocular Therapeutix Inc is currently sitting on a 24.7% deficit at $28.83. While shareholders are smarting, short sellers are celebrating -- and during the most recent reporting period, short interest on OCUL soared 82.4%. However, in total, just 7.6% of the stock's float is sold short, which would take less than two sessions to buy back, at OCUL's average trading volume.

  • Finally, FDX is making waves after the company agreed to purchase Dutch rival TNT Express for $4.8 billion in cash. Traders are responding positively to the news, with FedEx Corporation up 3.4% at $172.25 this morning, bringing the equity back near its year-to-date breakeven mark of $173.66. On the sentiment front, a majority of brokerage firms are bullish toward the shares, with 11 "strong buys" outweighing eight tepid "holds." What's more, FDX's consensus 12-month price target of $190.38 stands at a 10.5% premium to current trading levels -- as well as in uncharted territory.

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