Buzz Stocks: Accenture Plc, Terex Corporation, and Portola Pharmaceuticals Inc

Today's stocks to watch include Accenture Plc (NYSE:ACN), Terex Corporation (NYSE:TEX), and Portola Pharmaceuticals Inc (NASDAQ:PTLA)

by Josh Selway

Published on Mar 24, 2016 at 9:29 AM
Updated on Mar 24, 2016 at 9:31 AM

U.S. stocks are pointed lower with oil prices, putting the Dow's weekly win streak in jeopardy. Among equities in focus today are consulting firm Accenture Plc (NYSE:ACN), construction stock Terex Corporation (NYSE:TEX), and drugmaker Portola Pharmaceuticals Inc (NASDAQ:PTLA)

  • ACN is up over 1% in electronic trading, after the company posted better-than-expected quarterly earnings and raised its full-year outlook. The stock recently took back its year-to-date breakeven level thanks to a strong March, and the shares have consolidated between $107 and $109 in recent sessions, closing yesterday at $107.66. This probably isn't what a recent batch of short sellers had in mind. Specifically, short interest increased on Accenture Plc by 23.4% during the two most recent reporting periods, and it'd now take these bears almost a week to cover their positions, at ACN's normal daily trading volumes. 
  • At yesterday's close of $28.62, PTLA had already lost over half its value since hitting an all-time high of $57.96 back in September. But now, things are about to get even worse. The shares are off by 28% in pre-market action, set to open at annual lows, after the company's blood clot treatment, betrixaban, missed its main goal in a late-stage study. Portola Pharmaceuticals Inc could also feel headwinds from the brokerage bunch if its technical woes continues. For instance, every analyst that covers PTLA says it's at least a "buy," while the stock's average 12-month price target of $57.60 is more than double current levels. Bearish attention from this group could weigh on the stock
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