Buzz Stocks: Sunedison Inc, Intercontinental Exchange Inc, and Barclays PLC

Today's stocks to watch include Sunedison Inc (SUNE), Intercontinental Exchange Inc (ICE), and Barclays PLC (ADR) (BCS)

Mar 1, 2016 at 9:49 AM
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Rising crude futures have stocks pointed firmly higher this morning, with traders awaiting data on manufacturing and consumer spending. Among equities in focus are solar energy stock Sunedison Inc (NYSE:SUNE), global exchange operator Intercontinental Exchange Inc (NYSE:ICE), and financial firm Barclays PLC (ADR) (NYSE:BCS).

  • SUNE has dropped 24.5% at the open to $1.50, after the company announced that it will delay its annual report due to an ongoing investigation into the company's finances. Despite a big M&A-induced pop late last week, Sunedison Inc has given up nearly 96% of its value since last July -- and hit a 14-year low of $1.21 last Wednesday. Traders have been understandably wary -- short interest on the stock accounts for nearly 43% of SUNE's available float. Meanwhile, SUNE is ripe for a fresh round of downgrade -- currently eight of the 14 brokerages following the stock maintain a "buy" rating or better.
  • ICE is 3.2% lower at $230.89, amid speculation it is considering making an offer for London Stock Exchange Group Plc. Additionally, CME Group Inc (NASDAQ:CME) is reportedly also considering throwing its hat into an already crowded takeover ring that includes Deutsche Boerse. Since notching a record high of $268.89 on Feb. 1, Intercontinental Exchange Inc has shed 14.1%. Still, seven out of 11 analysts say the stock is a "buy" or better. And while short interest on ICE rose nearly 35% during the most recent two-week reporting period, it accounts for only 1.5% of the equity's total float. In other words, ICE's bearish bandwagon is far from full.
  • BCS has dropped 7.3% out of the gate to $8.75, after reporting a full-year loss. Barclays PLC also announced it is cutting its dividend and planning to sell off its African assets. The shares hit a four-year low of $8.52 in mid-February, but analysts haven't given up their optimism just yet. All three firms providing coverage rate the stock a "strong buy," and the average 12-month price target of $16.19 sits at a level not seen since September. It appears some options traders have been hoping for a bounce, though. Amid relatively low volume, BCS sports a top-heavy 10-day call/put volume ratio of 2.00 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX).
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