Buzz Stocks: Best Buy, Syngenta, Acorda Therapeutics

Today's stocks to watch include Best Buy Co Inc (BBY), Syngenta AG (ADR) (SYT), and Acorda Therapeutics Inc (ACOR)

Aug 25, 2015 at 9:29 AM
facebook X logo linkedin

After yesterday's nearly 600-point drop, the Dow is poised to recoup some of the losses -- so remember, keep your hands inside the cart at all times and please enjoy the ride. Among the equities in focus are electronics retailer Best Buy Co Inc (NYSE:BBY), agribusiness company Syngenta AG (ADR) (NYSE:SYT), and biopharmaceutical concern Acorda Therapeutics Inc (NASDAQ:ACOR).

  • A surprise quarterly profit has propelled BBY more than 13% higher in electronic trading. Best Buy Co Inc saw second-quarter profit increase 12% (subscription required), as strong sales from large-screen TVs, appliances, and telephones offset weak tablet sales. A short-covering pop could boost the stock even higher, as 10% of BBY's float is sold short. At BBY's average pace of trading, it would take nearly eight sessions to buy back these bearish bets. On Monday, BBY closed at $29.27.

  • SYT sat out yesterday's broad-market pullback, jumping to $81.37. What's more, the stock is nearly 3% higher in pre-market trading, after Monsanto Company (NYSE:MON) reportedly upped its takeover offer for the chemical maker. MON is now allegedly offering $47 billion for Syngenta AG (ADR). While MON continues to try and takeover the chemical world, SYT is refusing to comment. Technically, SYT has seen its share of struggles, but near-term option players are more call-heavy than usual. SYT's Schaeffer's put/call open interest ratio (SOIR) of 0.18 is lower than 99% of the readings taken during the past 52 weeks.  

  • ACOR is set to start the morning more than 22% higher, after the U.S. Patent and Trademark Office ruled against patent challenges leveled by hedge fund manager Kyle Bass. Acorda Therapeutics Inc has been backing away from its 10-day moving average, which has pushed the shares lower since the beginning of the month. However, ACOR is set to take out this trendline -- and rebound from yesterday's annual low -- out of the gate today. The shares could benefit from a short-covering rally, as 15% of ACOR's float is sold short, representing 15 days of pent-up buying demand, at the equity's average pace of trading. ACOR settled at $28.96 yesterday.

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