Buzz Stocks: Airgain Inc, Microsoft Corporation, and Adamas Pharmaceuticals Inc

Today's stocks to watch in the news include Airgain Inc (AIRG), Microsoft Corporation (MSFT), and Adamas Pharmaceuticals Inc (ADMS)

Sep 21, 2016 at 9:28 AM
facebook twitter linkedin


Stocks are set to start the day on a positive note following the Bank of Japan's (BoJ) latest policy decision. Among specific equities in focus today are wireless networking stock Airgain Inc (NASDAQ:AIRG), Dow component Microsoft Corporation (NASDAQ:MSFT), and drugmaker Adamas Pharmaceuticals Inc (NASDAQ:ADMS).

  • AIRG is set to slide 4% at the open after the company last night announced quarterly earnings for the first time since it began trading publicly in mid-August. Wunderlich chimed in this morning, lowering its rating on the stock to "hold" from "buy," while Northland raised its price target to $20 from $15. As of last night's close at $16.12, Airgain Inc had more than doubled from its IPO price of $8 -- an impressive gain for just over a month of trading, though not quite in line with another recent IPO outperformer
  • MSFT is 1.4% higher in pre-market trading after increasing its quarterly dividend by 8%, to 39 cents per share. The company also announced a $40 billion buyback program. Microsoft Corporation is up just 2.4% year-to-date, as of Tuesday's close at $56.81, but the shares have spent the last two months within striking distance of their December 1999 record highs just south of $60. Plus, the $56 level has limited the stock's most recent pullbacks. Options traders don't appear totally convinced that a breakout is ahead for MSFT, however. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day put/call volume ratio of 0.65 sits higher than 80% of the past year's readings. 
  • ADMS is up 6.6% ahead of the bell on news its treatment for a movement disorder related to Parkinson's disease met its primary endpoint in a phase 3 trial. Adamas Pharmaceuticals Inc has had a choppy year since pulling back from its huge late-December bull gap, down 36% in 2016 as of its Tuesday finish at $18.09. All seven analysts tracking the shares currently hold a "strong buy" rating on ADMS, but traders have taken a more pessimistic approach. Specifically, short interest on the stock surged by 43% during the two most recent reporting periods, and now accounts for nearly 23% of ADMS' total float. At the equity's average daily volumes, it would take almost three weeks to cover all these bearish bets. 

Stay on top of overnight news & big morning movers. Sign up now for Schaeffer's Opening View.

What This Election Year Means for Stocks

Ipad with I voted sticker

  


 
Special Offers from Schaeffer's Trading Partners