Buzz Stocks: Bank of America, Google, and Biogen

Today's stocks to watch in the news include Bank of America Corp (BAC), Google Inc (GOOGL), and Biogen Inc (BIIB)

by Griffin Kruse

Published on Apr 15, 2015 at 9:29 AM
Updated on Jun 29, 2020 at 11:12 AM

Futures appear poised to extend yesterday's rally, as traders take in earnings from several firms, including Bank of America Corp (NYSE:BAC). In other company news, today's stocks to watch include search engine king Google Inc (NASDAQ:GOOGL) and biotech concern Biogen Inc (NASDAQ:BIIB).

  • The shares of BAC are 0.6% lower in electronic trading, as traders digest the firm's first-quarter earnings report. On the charts, the shares of Bank of America Corp have been lackluster in 2015, down over 13% from their Dec. 31 annual high of $18.21 to close Tuesday at $15.82. Heading into today's session, traders were upping the bullish ante on BAC, as its 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 5.46 is higher than 79% of all similar readings taken in the past year. Elsewhere, the brokerage bunch is mostly bullish on BAC as well, considering that 61% of covering analysts rate the stock a "buy" or "strong buy."

  • News that European regulators have formally filed antitrust charges against GOOGL has the stock 0.3% lower ahead of the bell. Technically speaking, the shares of Google Inc have met resistance near $580 in 2015, but are still up 1.7% year-to-date to finish yesterday at $539.78. Meanwhile, traders have been favoring calls over puts in the options pits -- over the last 50 days at the ISE/CBOE/PHLX, 1.81 GOOGL calls have been bought to open for every put, which is a higher ratio than 90% of all similar readings taken over the past year.

  • On the other hand, the shares of BIIB are 1.6% higher in premarket trading, following news that the biotech firm's cutting-edge nerve repair drug Anti-LINGO-1 had "mildly encouraging" results in clinical trials. Looking back, Biogen Inc has been a technical beast, with the shares up 48.4% year-over-year to close Tuesday at $423.57. Surprisingly, puts have been prominent in the options pits, as BIIB's 10-day ISE/CBOE/PHLX put/call volume ratio of 1.35 reads in the 85th percentile of its annual range. However, the brokerage bunch is more optimistic on the security, as 73% of covering analysts rate it a "strong buy."

A Schaeffer's 39th Anniversary Exclusive!

8 Top Stock Picks for 2020

Access your FREE insider report before it's too late!


  
 
 

Partnercenter