Buzz Stocks: BlackBerry Ltd, Tempur Sealy International Inc, and Galectin Therapeutics Inc

Today's stocks to watch in the news include BlackBerry Ltd (NASDAQ:BBRY), Tempur Sealy International Inc (NYSE:TPX), and Galectin Therapeutics Inc (NASDAQ:GALT)

by Josh Selway

Published on Sep 28, 2016 at 9:48 AM

U.S. stocks are higher, as traders await to hear from a number of central bankers, including Fed Chair Janet Yellen. Among specific equities in focus are smartphone maker BlackBerry Ltd (NASDAQ:BBRY), mattress name Tempur Sealy International Inc (NYSE:TPX), and biotech stock Galectin Therapeutics Inc (NASDAQ:GALT).

  • BBRY is 4.7% higher at $8.25, thanks to the company's better-than-expected fiscal second-quarter results and upwardly revised full-year outlook -- with CEO John Chen saying BBRY has reached "an inflection point." BlackBerry Ltd also announced the departure of its chief financial officer, James Yersh -- who will be replaced by Steven Capelli -- and that it will outsource production of its hardware, including its the iconic smartphones. Turning back to the charts, today's move has put BBRY back in the low $8 range, an area that contained a number of breakout attempts this year. Short sellers are hoping this is the case once again, considering 11% of the stock's volume is sold short -- or 19.8 times the security's average daily volume. 
  • Disappointing current-quarter and full-year sales outlooks are sinking shares of TPX, with the stock down 22.6% at $57.62. The shares are now back below their bull gap from July, and in the red on a year-to-date basis. Adding insult to injury is a downgrade to "neutral" from "buy" at Longbow Research, as well as a price-target cut to $75 from $80 at Raymond James. More bearish notes could come through, too, since the majority of analysts recommend buying Tempur Sealy International Inc, with zero "sell" ratings to be found. 
  • After being briefly halted for volatility, GALT was last seen 41.9% lower at $1.46. The company announced disappointing drug mid-stage trial results for its main treatment for nonalcoholic steatohepatitis (NASH) patients with advanced fibrosis. Plus, Roth Capital cut its rating on the stock to "sell." Additional analysts may need to adjust their expectations, too, considering every single covering brokerage firm rates Galectin Therapeutics Inc a "strong buy." Since hitting a roughly 11-month high of $3.05 last Thursday, shares of GALT have surrendered more than half their value.

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