Buzz Stocks: Time Warner Cable, AutoZone, BlackBerry

Stocks are headed south, as traders digest the latest durable goods data -- and look ahead to a slew of housing reports on the day's docket. Meanwhile, among specific equities in focus are broadcasting giant Time Warner Cable Inc (NYSE:TWC), car concern AutoZone, Inc. (NYSE:AZO), and smartphone specialist BlackBerry Ltd (NASDAQ:BBRY).

• Charter Communications, Inc. (NASDAQ:CHTR) said it would purchase TWC for roughly $195.71 per share, or $55 billion -- a 14.3% premium to Friday's close at $171.18. The confirmation puts to rest recent speculation, and sent the shares to an all-time best of $180.95 out of the gate -- with TWC last seen up 4.3% at $178.55. Longer term, the security has tacked on 17.4% in 2015, and option traders have been rolling the dice on more upside. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Time Warner Cable Inc's 50-day call/put volume ratio of 1.56 rests in the 92nd annual percentile. In other words, calls have been bought to open over puts at a faster clip just 8% of the time within the past year.

• AZO this morning unveiled a fiscal third-quarter profit that exceeded expectations, sending the shares 0.3% higher in electronic trading. Today's projected price move only echoes AZO's withstanding technical trajectory, with the stock boasting a 33% year-over-year lead, and fresh off an April 24 record high of $705. Should AutoZone, Inc. continue its march higher, a round of upgrades and/or price-target hikes could fuel the security's fire. Currently, 78% of those covering the shares maintain a "hold" rating, while the average 12-month price target of $687.40 stands at a discount to AZO's current perch at $690.28.

• In the wake of last week's buyback announcement, BBRY said it will be laying off workers in its smartphone division. On the charts, the stock has found a firm foothold atop the round-number $10 mark since mid-May -- home to its 32-day moving average -- and was last seen lingering near $10.48. However, skepticism is strong toward BlackBerry Ltd. In the options pits, the equity's 50-day ISE/CBOE/PHLX put/call volume ratio of 0.56 rests at an annual peak. Elsewhere, 16.9% of the stock's float is sold short, representing more than two weeks of pent-up buying demand, at average daily trading levels. Should BBRY continue its trek in double-digit territory, a capitulation from some of the weaker bearish hands could create a fresh burst of buying power.