Today's stocks to watch include Apollo Education Group Inc (APOL), GoPro Inc (GPRO), and BioCryst Pharmaceuticals, Inc. (BCRX)
Today is setting up to be a brutal session on Wall Street, with a number of
major tech names selling off in electronic trading. Elsewhere, University of Phoenix parent
Apollo Education Group Inc (NASDAQ:APOL), camera concern
GoPro Inc (NASDAQ:GPRO), and drugmaker
BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) are among the stocks to watch.
- APOL is soaring on news the company will be taken private in a $1.1 billion deal with a consortium of investors, including private equity firm Apollo Global Management LLC (NYSE:APO). Specifically, the shares have added 27.6% pre-market, after closing Friday at $6.95 -- down 73% year-over-year. On Wall Street, Apollo Education Group Inc has been met with skepticism by analysts, as all six covering brokerage firms have handed out a "hold" or "sell" rating.
- GPRO has tacked on 4.4% in electronic trading, after the company inked a patent licensing agreement with Microsoft Corporation (NASDAQ:MSFT). A day in the green would be welcomed by GoPro Inc shareholders, who watched the stock hit an all-time low of $9.01 as recently Feb. 4 following a surprise quarterly loss. Longer term, the shares have shed 85% since their annual high of $65.49 in August to land at $9.96. Not surprisingly, traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have been placing bearish bets over bullish at a rapid rate. GPRO's 10-day put/call volume ratio of 0.72 outstrips four-fifths of comparable readings taken in the last year. As such, the stock could benefit if these pessimists hit the exits amid a resurgence in the shares.
- BCRX is bracing for a 62.5% fall at the open, after the firm said its lead drug to treat swelling in patients with hereditary angiodema failed a late-stage trial. As such, the stock -- which closed at $6.14 on Friday -- is primed to open at a more than two-year low. This is a great development for option bears, who have been busy at the ISE, CBOE, and PHLX in recent weeks. Specifically, BioCryst Pharmaceuticals, Inc.'s 10-day put/call volume ratio of 9.49 ranks just 2 percentage points from an annual high.
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