Buzz Stocks: General Motors Company, Lockheed Martin Corporation, and Chimerix Inc

Today's stocks to watch include General Motors Company (NYSE:GM), Lockheed Martin Corporation (NYSE:LMT), and Chimerix Inc (NASDAQ:CMRX)

Josh Selway

Dec 31, 2015 at 9:27 AM

CMRX
LMT
GM

Futures are pointed lower ahead of the last session of the year. Among the equities in focus are automaker General Motors Company (NYSE:GM), defense specialist Lockheed Martin Corporation (NYSE:LMT), and biotech Chimerix Inc (NASDAQ:CMRX).

A judge shot down GM's proposal to dismiss the first trial related to its ignition switch controversy, which is set for Monday, Jan. 11. Recent option traders are likely hoping this will have a negative impact on the stock. Over the past 10 weeks, General Motors Company has amassed a put/call volume ratio of 0.83, which is just 6 percentage points from an annual high. On the charts, shares of the automaker have been churning mostly between $34 and $37 since an earnings-induced bull gap in late October. As of Wednesday's close, GM was trading at $34.33, but is off 0.4% pre-market.

LMT is edging higher in electronic trading, after the military contractor landed a $1 billion deal to build 32 C-130J aircrafts for the U.S. military, according to the Pentagon. The stock has been turning out higher highs and lows since late September, and boasts a 14.1% lead in 2015, last seen at $219.80. More gains could be in store for Lockheed Martin Corporation if members of the analyst community positively update their stances. Despite LMT's success, 64% of covering brokerage firms say it's a "hold" or "strong sell."

It's been a wild week for CMRX, after negative drug news sent the shares tumbling to new lows on Monday. Today, however, the biotech stock is poised to open 4.8% higher, benefiting from news that billionaire Steven Cohen has taken a 5.3% stake in the company. Regardless, Chimerix Inc may have been due for some short-term gains, even without this development. The stock's 14-day Relative Strength Index (RSI) currently sits at 14, meaning it's severely oversold. CMRX closed Wednesday at $8.35.

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