Buzz Stocks: PepsiCo, Inc., BioMarin Pharmaceutical Inc., and Second Sight Medical Products Inc

Today's stocks to watch in the news include PepsiCo, Inc. (NYSE:PEP), BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), and Second Sight Medical Products Inc (NASDAQ:EYES)

Jul 7, 2016 at 10:14 AM
facebook twitter linkedin

U.S. stocks have reversed pre-market losses, thanks to encouraging jobs data ahead of tomorrow's payrolls report. Among equities in focus are soft drink stock PepsiCo, Inc. (NYSE:PEP), biotech BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), and medical device maker Second Sight Medical Products Inc (NASDAQ:EYES).

  • PEP is up 1.5% at $108.05 – and just off a new all-time high of $109 -- after delivering an upbeat earnings report and raising its full-year forecast, as strong North American sales balanced losses due to "foreign exchange translation and the deconsolidation of our Venezuelan operations," according to Chairman and CEO Indra Nooyi. This latest move puts PepsiCo, Inc. up 8% year-to-date, and if history is any indicator, the stock could enjoy a stellar third quarter. There are probably some option traders kicking rocks this morning, with PEP's 50-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE) and NASDAQ OMX PHLX (PHLX) of 1.53 sitting higher than 97% of all other readings from the past 12 months.
  • EYES is up 25.7% at $4.25, after an SEC filing regarding the Centers for Medicare and Medicaid Services (CMS) proposed rules for the 2017 Medicare hospital outpatient rate, which would bump the cost of EYES' Argus II visual aid implant procedure to approximately $150,000 from $95,000 in 2016. It's been a rough ride for the stock, which has fallen more than 68% year-over-year, touching an all-time low of $3.17 just last week. Despite its difficulties, option traders are especially call-skewed toward Second Sight Medical Products Inc, with EYES' Schaeffer's put/call open interest ratio (SOIR) of 0.23 sitting in the 8th percentile of its annual range, showing short-term option players have rarely been more call-biased during the last year.
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!