Buzz Stocks: Target, Palatin Tech, and Dot Hill Systems

Today's stocks to watch include Target Corporation (TGT), Palatin Technologies, Inc. (PTN), and Dot Hill Systems Corp. (HILL)

Aug 19, 2015 at 9:35 AM
facebook X logo linkedin

U.S. stocks are lower, as investors are jittery ahead of this afternoon's release of the latest Federal Open Market Committee (FOMC) meeting minutes. Among the equities in focus are retailer Target Corporation (NYSE:TGT), biopharmaceutical concern Palatin Technologies, Inc. (NYSEMKT:PTN), and data storage specialist Dot Hill Systems Corp. (NASDAQ:HILL)

  • TGT is 5.1% higher at $84.40 this morning, following its second-quarter earnings report. Not only did Target Corporation top analysts' expectations, but the company also boosted its profit outlook for the year. This news follows yesterday's revelation that Visa Inc (NYSE:V) agreed to pay TGT up to $67 million for a 2013 data breach. Technically, TGT has been consolidating into support from its 10-month moving average, and is within striking distance of an all-time high. As for sentiment, 12 of the 20 analysts tracking the retailer rate it a "hold" or worse. This set-up leaves the door open for upgrades, which could give the stock an added boost.

  • PTN is drawing attention this morning, after the U.S. Food and Drug Administration (FDA) approved the first drug to treat low sexual desire in women. The drug, Addyi (nicknamed the "female Viagra"), is made by Palatin Technologies, Inc.'s rival Sprout Pharmaceuticals, but Roth Capital Partners opined that PTN's similar drug in development (named bremelanotide) is "differentiated" by a better safety profile. Furthermore, PTN's drug is taken on an as-needed basis, as opposed to Addyi's daily dose. Shares of PTN are 21% higher at $1.14.

  • Finally, HILL skyrocketed to an 11-year high of $9.70 out of the gate, after Seagate Technology PLC (NASDAQ:STX) announced that it will purchase the storage specialist for $695 million, or $9.75 per share. The per-share price represents an 88% premium to Dot Hill Systems Corp.'s Tuesday closing price of $5.18. Both companies believe the sale will close in the fourth quarter, assuming HILL's shareholders lend their support to the move. 

Get the skinny on all the biggest stories of the morning… Sign up now to get Schaeffer's Midday Market Check delivered straight to your inbox!


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI