Schaeffer's 43rd Anniversary Stock Picks in 2024

Buzz Stocks: Express, Inc., Oculus Innovative Sciences, Inc., and Fitbit Inc

Today's stocks to watch in the news include Express, Inc. (NYSE:EXPR), Oculus Innovative Sciences, Inc. (NASDAQ:OCLS), and Fitbit Inc (NYSE:FIT)

Aug 24, 2016 at 9:24 AM
facebook X logo linkedin


Dow futures are cautiously higher this morning, as traders await Friday's big central bank speech. Meanwhile, among specific equities in focus are retailer Express, Inc. (NYSE:EXPR), biotech Oculus Innovative Sciences, Inc. (NASDAQ:OCLS), and wearable tech stock Fitbit Inc (NYSE:FIT).

  • EXPR is set to lose roughly one-fifth of its value when the market opens, after the company slashed its full-year outlook in light of weak store traffic. The projected move would put the stock in territory not seen since February 2015, after the shares closed Tuesday at $16.03. While the pending sell-off matches options traders' bearish expectations, some analysts may start to adjust their outlooks. For example, five of the 11 brokerage firms covering EXPR say it's a "strong buy," and none recommend selling the stock. Just this morning, though, Deutsche Bank downgraded the stock to "hold" from "buy," and lowered its price target to $12 from $19.
  • OCLS is looking to take advantage of a favorable Food and Drug Administration (FDA) ruling, with the stock up 13% in electronic trading. More specifically, the FDA approved the drugmaker's post-dermal procedures treatment, which it'll begin marketing in the U.S. next March. It's been a rough year for the penny stock, as it's lost almost 31% of its value year-to-date, and closed last night at $3.98. Meanwhile, a recent batch of short sellers will likely be kicking themselves, seeing as short interest on Oculus Innovative Sciences, Inc. popped by nearly 25% in the last reporting period. 
  • FIT is up 3% in pre-market trading, after a U.S. International Trade Commission judge ruled the company did not steal classified information from fellow wearable tech firm Jawbone. Fitbit Inc rallied on Tuesday, as well, before settling at $14.88, as the stock looks to live up to analysts' lofty expectations. That is, despite FIT's 49.7% drop in 2016, more than half the analysts covering the stock recommend buying it, with not a single "sell" rating on the board, while its average 12-month price target stands at $21.38 -- territory not explored since early January. 

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

 

A.I.’s Dirty Little Secret: The Real Power Behind The AI. Boom ✨

Anyone who’s seen the The Matrix movies knows that A.I. needs power.  Lots and lots of power.

If you’ve seen the movie, you also know the grizzly results of the ensuing battle for that power.

Now, Wall Street’s battle for A.I. power won’t go to such extremes. Hopefully?

A.I. needs more power and that means more opportunities for stock traders in the know.

Download your free copy of “The A.I. Revolution: 4 Stocks to Buy Now”!