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)

Aug 23, 2016 at 10:02 AM
facebook X logo linkedin

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

Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI