Buzz Stocks: United Tech, Sunedison, Horizon Pharma

Today's stocks to watch in the news include United Technologies Corporation (UTX), Sunedison Inc (SUNE), and Horizon Pharma PLC (HZNP)

by Alex Eppstein

Published on Jul 20, 2015 at 9:45 AM
Updated on Jul 2, 2020 at 12:16 PM

U.S. stocks are in the black this morning, while gold is in retreat mode. In company news, today's stocks to watch include Dow component United Technologies Corporation (NYSE:UTX), solar specialist Sunedison Inc (NYSE:SUNE), and drugmaker Horizon Pharma PLC (NASDAQ:HZNP)

  • UTX is selling its Sikorsky Aircraft unit to Lockheed Martin Corporation (NYSE:LMT) for roughly $9 billion, confirming earlier speculation. However, while United Technologies Corporation shares were higher ahead of the bell, they're down 0.7% at $110. Tomorrow could be a big day for the tech stock, as well, as the company will report earnings before the open. One group wagering against UTX of late is options traders. During the last two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity has racked up a put/call volume ratio of 3.16 -- with long puts more than tripling calls. This ratio also ranks in the bearishly skewed 98th annual percentile.

  • SUNE is purchasing sector peer Vivint Solar Inc (NYSE:VSLR) for approximately $2.2 billion, in the hopes of expanding into the commercial and residential solar market. The buyout has shares of the former up 4.6% at $33.04 -- and just off a six-year peak of $33.31 -- and those of the latter almost 45% higher. All in all, it's been a great year for Sunedison Inc, which has soared 69.5% year-to-date. There's plenty of sideline cash available to fuel additional gains, too. Over 31% of SUNE's float is sold short, representing more than seven sessions' worth of pent-up buying demand, at typical volumes.

  • Finally, HZNP has jumped 5.7% to trade at $39.19 -- and peaked at $39.49, in record-high territory -- after the company raised its full-year sales forecast. Longer term, the stock has more than tripled in value this year, atop support from its 10- and 40-day moving averages. In doing so, Horizon Pharma PLC has vindicated the confidence of the brokerage bunch -- with 100% sporting "buy" or better recommendations. However, price-target hikes are a possibility, as HZNP is on the doorstep of its consensus 12-month price target of $39.88.

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