Buzz Stocks: Walgreens Boots Alliance Inc, Medivation Inc, and Tesla Motors Inc

Today's stocks to watch in the news include Walgreens Boots Alliance Inc (NASDAQ:WBA), Medivation Inc (NASDAQ:MDVN), and Tesla Motors Inc (NASDAQ:TSLA)

Jul 6, 2016 at 10:13 AM

SCTY
SNY
RAD
WBA
TSLA
MDVN

U.S. stocks are down as investors flee amid renewed "Brexit" concerns. Among equities in focus are pharmacy retailer Walgreens Boots Alliance Inc (NASDAQ:WBA), biotech Medivation Inc (NASDAQ:MDVN), and electric auto stock Tesla Motors Inc (NASDAQ:TSLA).

WBA is down 2.2% at $81.66, as the firm's fiscal third-quarter revenue miss overshadows a per-share earnings beat and upwardly revised guidance. Walgreens Boots Alliance Inc CEO Stefano Pessina acknowledged the the "period of uncertainty" following the Brexit vote "will be quite long," and said the company is very confident that its deal with Rite Aid Corporation (NYSE:RAD) will go through. WBA has managed to claw its way back from its annual low in February, but is still down more than 4% year-to-date, with rebound attempts capped at its 320-day moving average. Analysts seem optimistic towards the stock, however, with 11 of 15 rating Walgreens Boots Alliance Inc a "buy" or better, and without a single "sell" rating to be found.

MDVN is up 1.3% at $62.58, after agreeing to provide confidential information to French drugmaker Sanofi SA (ADR) (NYSE:SNY). Although Medivation Inc originally rejected SNY's $9.3 billion buyout bid, the drug company has now agreed to entertain bids from SNY and other potential pharmaceutical suitors. MDVN is up over 20% since refusing SNY's offer in late April, and now sits within a chip-shot of a new annual high. Short interest in the stock is down 34.5% over the last two reporting periods, and nine of 13 analysts rate MDVN a "buy" or better, with not a "sell" in sight.

TSLA is down 2% at $209.68, after reports surfaced of yet another accident involving a Tesla vehicle using the Autopilot feature, and after Pacific Crest slashed TSLA's price target to $190 from $212 -- the latest in a long line of recent bearish brokerage notes. Tesla Motors Inc is down by more than 20% year-over-year, but has managed to close some of the bear gap that occurred after the company's hotly debated bid to purchase SolarCity Corp (NASDAQ:SCTY). Short sellers are hot on the stock, with 27.3% of the TSLA's float sold short -- an amount that would take 7.3 days to cover, at TSLA's average daily volume.

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

Follow @Schaeffers

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*