Buzz Stocks: Facebook Inc, Yahoo! Inc., and Zafgen Inc

Today's stocks to watch include Facebook Inc (FB), Yahoo! Inc. (YHOO), and Zafgen Inc (ZFGN)

Dec 2, 2015 at 9:29 AM
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U.S. indexes are pointed lower this morning, as traders await comments from Fed Chair Janet Yellen -- which many expect will underscore expectations for a rate hike this month, especially in light of today's positive ADP report. Among the equities in focus are social media giant Facebook Inc (NASDAQ:FB), Internet interest Yahoo! Inc. (NASDAQ:YHOO), and drugmaker Zafgen Inc (NASDAQ:ZFGN).

  • FB is set to open 0.1% lower today, as CEO Mark Zuckerberg and his wife, Dr. Priscilla Chan, wrote an open letter to their newborn daughter, vowing to put 99% of their Facebook Inc shares -- worth about $45 billion -- into the Chan Zuckerberg Initiative, a philanthropic foundation the couple set up to further causes they support. Technically, FB has been a monster on the charts, trending higher since mid-2013, adding 37.3% so far in 2015, and hitting a new all-time high of $110.65 last month. Options traders have been hoping for higher highs, as well. The stock has a Schaeffer's put/call open interest ratio (SOIR) of 0.60 -- lower than more than two-thirds of readings from the past year -- meaning that near-term traders have been favoring calls more than usual. On Tuesday, FB closed at $107.12.
  • ZFGN is headed for a sharp 58% plunge from its Tuesday close of $15.93, which will mean a new all-time low. The drop comes as the drugmaker reported a second death in an ongoing trial of a treatment for a rare genetic disorder that is linked to obesity. After Zafgen Inc reported the first patient death in October, the U.S. Food and Drug Administration (FDA) placed a partial hold on the study, while the shares dropped to an all-time low of $9.53. ZFGN is now working with the FDA to determine what steps to take next. Meanwhile, five of the six brokerages following the stock -- which has shed nearly half its value year-to-date -- maintain a "buy" rating or better. Any downgrades could exacerbate selling pressure.

 

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