Buzz Stocks: Netflix, Sysco Corporation, Lennar Corporation

Today's stocks to watch include Netflix, Inc. (NASDAQ:NFLX), SYSCO Corporation (NYSE:SYY), and Lennar Corporation (NYSE:LEN)

Jun 24, 2015 at 9:28 AM
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Futures on the Dow Jones Industrial Average (DJIA) are pointed lower this morning, on reports that Greece's latest reform proposal has been rejected by its creditors. Among the equities in focus are entertainment provider Netflix, Inc. (NASDAQ:NFLX), food distribution concern SYSCO Corporation (NYSE:SYY), and real estate power Lennar Corporation (NYSE:LEN).

  • Once again, NFLX is set for a big day. This time, the shares are pointed 2.7% higher in electronic trading, after the company announced a 7-for-1 stock split. Netflix, Inc. shareholders have had a wonderful few months. With today's projected gains, the stock will have more than doubled in 2015. However, 10 brokerage firms still rate the equity a "hold" or worse, while NFLX's average 12-month price target sits at just $615.89, a discount to yesterday's close at $681.19. It wouldn't be surprising to see bullish analyst attention send the shares even higher.

  • A judge has put SYY's merger with US Foods on hold for the time being, saying the deal needs further antitrust review. The stock has been trending lower this year, dropping 5.3% to trade at $37.59, and now appears to be facing overhead pressure from its 80-day moving average. Short sellers are likely happy about this morning's developments. The almost 25 million SYSCO Corporation shares sold short represent almost eight sessions of trading, going by the equity's normal volumes.

  • LEN is gaining ahead of the open, picking up 6.3% after the company reported strong fiscal second-quarter numbers. Lennar Corporation has managed a 19.4% year-over-year lead, but the shares have encountered resistance in the $50 area during their last two breakout attempts. After closing at $49 yesterday, however, the stock appears ready to take out the half-century mark, which could switch roles to act as support going forward. With LEN's consensus 12-month price target not sitting too far away at $51.24, the stock could be in store for some price-target hikes. In fact, UBS raised its target to $50 from $45 just this morning. Extended gains would put the shares near the eight-year high of $53.67 they hit in early April. 
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