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)

Apr 7, 2015 at 9:34 AM
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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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