Today's stocks to watch in the news include Medivation Inc (MDVN), Valeant Pharmaceuticals Intl Inc (VRX), and Advanced Micro Devices, Inc. (AMD)
U.S. stocks are in the red this morning, after another Fed official took a relatively hawkish tone toward interest rates. Meanwhile, among specific equities in focus are biotechs Medivation Inc (NASDAQ:MDVN) and Valeant Pharmaceuticals Intl Inc (NYSE:VRX), as well as tech stock Advanced Micro Devices, Inc. (NASDAQ:AMD).
- AMD said it will relocate its headquarters to Santa Clara, California, after 47 years in Sunnyvale. At last check, the shares have jumped 1.7% to trade at $7.76 -- within a chip-shot of taking out last Friday's four-year high of $8.00 -- bringing their year-to-date advance to 170%. While options traders have remained optimistic, analysts have been slow to climb on board Advanced Micro Devices, Inc.'s bullish bandwagon. Of the 17 brokerages covering the stock, 10 maintain a "hold" or worse suggestion.
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