Buzz Stocks: Wendy's, Synchronoss Tech, Vera Bradley

U.S. stocks are getting a pre-market lift, thanks to encouraging data and an interest rate decision across the pond. In company news, today's stocks to watch include fast-food chain Wendys Co (NASDAQ:WEN), cloud concern Synchronoss Technologies, Inc. (NASDAQ:SNCR), and accessories designer Vera Bradley, Inc. (NASDAQ:VRA). 

• WEN is sitting pretty this morning, after the company announced it will buy back $1.4 billion in stock and sell a bakery business to streamline operations. The chain also slashed its full-year adjusted earnings guidance to reflect the bakery sale. As such, the shares are 3.2% higher ahead of the bell, looking to add to their nearly 23% year-to-date advance -- and make a run at last month's seven-year high of $11.67. Should Wendys Co continue to trek higher, it could prompt a round of bullish analyst notes. Nine of 11 brokerage firms rate the stock a "hold" or worse, and WEN's consensus 12-month price target of $11.71 represents a slim 5.5% premium to Tuesday's close at $11.10.
  


• SNCR is reportedly looking to be purchased in a potential agreement that could be worth more than $2 billion, and is drawing interesting from several private-equity firms. The buyout buzz has the shares perched 18.4% higher ahead of the bell, relative to last night's close at $42.53. Recently, Synchronoss Technologies, Inc. has struggled on the charts, dropping 19% since its late-April high of $52.45, and breaching most of its historically supportive trendlines. Short sellers could get burned by today's expected gap higher. Over 12% of SNCR's float is sold short, representing 12 days' worth of pent-up buying activity, at average daily volumes.


• Finally, VRA was temporarily halted in electronic trading while the company reported lackluster first-quarter earnings and issued disappointing guidance. Although pre-market trading has resumed, the stock is getting pummeled -- down nearly 14% ahead of the bell, and headed for fresh all-time lows. It's already been a tough year for Vera Bradley, Inc., which has shed 30.6% in 2015 to rest at $14.14 -- ushered lower by its 10-week moving average, and hitting a record low of $13.15 just yesterday. Short sellers have been piling on amid this sell-off, with more than one-quarter of VRA's float sold short. At the stock's typical daily trading levels, it would take nearly 18 sessions to repurchase all these bearish bets.