Buzz Stocks: Twitter Inc, Incyte Corporation, and Tiffany & Co.

Today's stocks to watch include Twitter Inc (TWTR), Incyte Corporation (INCY), and Tiffany & Co. (TIF)

Jan 19, 2016 at 9:25 AM
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U.S. stocks are looking to make a strong start after the long weekend, following global stocks higher on encouraging data out of China. Among the equities in focus are microblogging site Twitter Inc (NYSE:TWTR), biotech issue Incyte Corporation (NASDAQ:INCY), and jewelry retailer Tiffany & Co. (NYSE:TIF). 

  • TWTR suffered some technical issues in the early hours of the morning, with many users experiencing outages of the website and its mobile counterpart. Twitter Inc told users it was aware of the problems and was working to fix them. The stock is on the rebound, however, pointed 1.1% higher from its Friday close of $17.94, after tapping a record low of $17.27 last Thursday. And while 15 out of 24 analysts are sitting on "hold" ratings on worse, option traders haven't been shy with their bullish bets. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security has a 50-day call/put volume ratio of 3.23 -- higher than 96% of all readings in the last year.
  • INCY is set to pop 2.9% ahead of the bell, after receiving a $35 million milestone payment from fellow drugmaker Eli Lilly and Co (NYSE:LLY) in relation to their submission to the U.S. Food and Drug Administration (FDA) for the approval of a new rheumatoid arthritis treatment. What's more, if the treatment is approved, INCY will score another $100 million payment. Incyte Corporation has been falling hard over the past few weeks, off 29% already in 2016, and not far from its one-year low of $72.62, seen last February. As such, its 14-day Relative Strength Index (RSI) of 22 is well into oversold territory --suggesting the shares could be ready for a short-term rebound. INCY closed at $76.95 on Friday.
  • TIF is headed 4% lower -- into nearly three-year-low territory -- after closing at $67.65 on Friday, just off a new two-year low of $65.09. This morning, the company announced that it is cutting its staff, as well as its outlook for the year, in light of disappointing holiday sales. Tiffany & Co. shed more than one-fourth on its value last year, and is off 11% so far in 2016. Short interest on the security accounts for nearly 8% of its total available float -- which would take more than seven days of trading to cover, at typical volumes. But 10 out of 18 analysts still call TIF a "strong buy," and any downgrades could see the shares touching new multi-year lows.
 

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