Buzz Stocks: Biogen Inc, KLA-Tencor Corp, and Ferrari

Today's stocks to watch include Biogen Inc (BIIB), KLA-Tencor Corp (KLAC), and Ferrari (RACE)

by Mark Fightmaster

Published on Oct 21, 2015 at 10:18 AM
Updated on Oct 21, 2015 at 3:59 PM

U.S. benchmarks are slightly higher this morning, as traders applaud big-cap earnings and a round of M&A. Among the equities in focus are biopharmaceutical company Biogen Inc (NASDAQ:BIIB), semiconductor firm KLA-Tencor Corp (NASDAQ:KLAC), and automaker Ferrari (NYSE:RACE).

  • BIIB is 5.5% higher at $280.33 this morning, after announcing stronger-than-expected earnings and raising its full-year guidance, and unveiling a substantial workforce reduction. Biogen Inc shares have marched 41.6% lower since hitting an all-time high of $480.18 in March, but are on pace to end atop their 20-day moving average for the first time in more than a month. Still, option players were betting on a rebound, as BIIB's 10-day call/put volume ratio on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is 1.81 -- in the 90th percentile of all readings taken in the past year. 

  • KLAC rocketed 24% higher to $66.71 out of the gate this morning, thanks to news that Lam Research Corporation (NASDAQ:LRCX) has agreed to purchase the firm for $10.6 billion (subscription required). This move is the latest in a series of mergers and acquisitions in the tech world. LRCX will dish out $67.02 per share for KLAC, a 24% premium over yesterday's closing price. The last time shares of KLAC traded this high was in January.

  • RACE priced its highly anticipated initial public offering (IPO) at $52 last night, at the top of the expected range. In its first session on the Big Board, Ferrari was last seen 7.1% higher at $55.70, and earlier peaked at $60.97. Meanwhile, shares of Fiat Chrysler Automobiles NV (NYSE:FCAU) -- a major RACE stakeholder -- are down 2.7% at $15.51. 

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