Buzz Stocks: Best Buy Co Inc, Sophiris Bio Inc, and Mobileye NV

Today's stocks to watch in the news include Best Buy Co Inc (NYSE:BBY), Sophiris Bio Inc (NASDAQ:SPHS), and Mobileye NV (NYSE:MBLY)

Josh Selway

Aug 23, 2016 at 10:02 AM

U.S. stocks are edging higher this morning, as the Dow looks to avoid a third straight loss. Meanwhile, among specific equities in focus are retailer Best Buy Co Inc (NYSE:BBY), biotech stock Sophiris Bio Inc (NASDAQ:SPHS), and automotive tech expert Mobileye NV (NYSE:MBLY).

BBY has jumped 15.6% to trade at $37.92, thanks to the company's better-than-expected second-quarter earnings report. Most notably, Best Buy Co Inc posted a rise in same-store sales for the period, while analysts were expecting a slight decline. The upside move has the shares just south of their annual high of $38.57 from last September. Not only are short sellers likely displeased with today's news, but analysts may also be reconsidering their positions. Currently, just four of 14 covering brokerage firms recommend buying BBY.

While biotech stocks enjoyed big gains on Monday, today's not looking so hot for SPHS. The shares have lost roughly one-third of their value on news the company is planning a secondary public offering, as it looks for ways to fund the clinical trial for its prostate cancer drug, topsalysin. It's been a roller-coaster year for Sophiris Bio Inc, which began 2016 trading at less than $2 per share, before shooting to an annual high of $8.55 last month. At last check, though, the stock is at $3.95, a 54% haircut relative to the aforementioned peak. It doesn't seem many traders were betting on this sell-off, though, since short interest doesn't even account for a day's worth of buying power, going by SPHS' average trading volumes.

MBLY is up 7% at $49.84, after the company announced a partnership with Delphi Automotive PLC (NYSE:DLPH) to develop a self-driving car in two years. Mobileye NV has now advanced about 18% year-to-date, and earlier touched a 2016 high of $51.15. Analysts are already mostly bullish on the stock, and options traders appear upbeat, too. For instance, MBLY's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) comes in at 4.11 -- putting it just 8 percentage points from a 12-month high.

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