Buzz Stocks: Valeant Pharmaceuticals Intl Inc, Xerox Corp, and PMC-Sierra Inc

Today's stocks to watch include Valeant Pharmaceuticals Intl Inc (VRX), Xerox Corp (XRX), and PMC-Sierra Inc (PMCS)

Nov 24, 2015 at 9:47 AM
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It's looking like another rough day for U.S. stocks, as an upwardly revised GDP increases the odds of a December rate hike. Among the equities in focus are biotech concern Valeant Pharmaceuticals Intl Inc (NYSE:VRX), office supply producer Xerox Corp (NYSE:XRX), and semiconductor maker PMC-Sierra Inc (NASDAQ:PMCS).

  • Carl Icahn is another investor making news today, as the billionaire disclosed that he has taken a 7.13% stake in XRX, calling the stock "undervalued." Xerox Corp is 1.1% higher on the news, last seen trading at $10.87. The shares had been trending lower since last December, but seem to have turned around after the company reported better-than-expected quarterly earnings at the end of October. Options traders should be especially pleased with today's upward momentum. XRX holds a 50-day call/put volume ratio of 20.35 on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) -- indicating more than 20 calls bought for every put, and ranking higher than 80% of readings in the past year.

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