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)

Josh Selway

Mar 24, 2016 at 9:29 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.

TEX is looking at another M&A-induced surge today, with the shares up roughly 9% ahead of the open, after China-based Zoomlion raised its buyout offer to $31 per share, or $3.4 billion. Meanwhile, Finland-based Konecranes said it's still committed to merging with TEX. Zoomlion originally expressed interest in Terex Corporation in January, and the resultant bull gap from that news is a big reason the shares are 28.5% higher in 2016, closing last night at $23.74. Option traders have thus taken a call-focused approach. Over the past 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), more than 2,000 TEX long calls have traded, compared to just 34 long puts.

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!

Follow @Schaeffers

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?