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)

Mar 24, 2016 at 9:29 AM
facebook twitter linkedin


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
Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!
 

Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!