Buzz Stocks: Cigna, Williams Co, Advanced Micro Devices

There is a chance that Greece is going to come to an agreement with its creditors amid today's emergency summit, and that has investors optimistic. Thanks to this news, the Dow Jones Industrial Average (DJIA) is flirting with a triple-digit gain this morning. In company news, today's stocks to watch include health insurance firm CIGNA Corporation (NYSE: CI), energy equity Williams Companies (NYSE: WMB), and semiconductor concern Advanced Micro Devices, Inc. (NASDAQ: AMD)

• CI is 6.3% higher at $165.09 -- and fresh off an all-time peak of $166.99 -- after the company rejected a takeover proposal from Anthem Inc (NYSE: ANTM), saying it's not in the best interest of its shareholders. Specifically, the company cited "Anthem’s lack of a growth strategy, complications relating to [its] membership in the Blue Cross Blue Shield Assn. and the related antitrust actions, and other significant challenges, such as the massive data breach [ANTM] experienced in February." Shares of CIGNA Corporation could receive an additional boost from analysts. While eight of the 14 analysts covering CI rate it a "buy" or better, an upgrade from any of the six firms sporting "hold" ratings could help push the stock higher.


• Yesterday, WMB announced that its Board of Directors has decided to explore "strategic alternatives" after rejecting an unsolicited $48 billion buyout proposal from Energy Transfer Equity LP (NYSE:ETE). Williams Companies noted that ETE's bid "significantly undervalues Williams and would not deliver value commensurate with what Williams expects to achieve on a standalone basis." Shares of the energy concern are now 24.3% higher at $60.07, and earlier reached a record high of $61.38. This is good news for call buyers at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). During the last 10 days, WMB has racked up a call/put volume ratio of 5.81, which ranks in the 85th annual percentile.


• Finally, AMD has denied rumors that it's considering a spinoff or breakup. "While we normally would not comment on such a matter, we can confirm that we have no such project in the works at this time," said a company spokesperson. AMD saw notable call volume last Wednesday, with buyers undaunted by the stock's struggles to muscle out of negative year-to-date territory. Despite a 3.3% gain this morning, the shares are 0.4% lower in 2015 at $2.66. As such, of the 18 analysts tracking Advanced Micro Devices, Inc., 14 rate the equity a "hold" or worse.    

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