Buzz Stocks: Facebook Inc, ACADIA Pharmaceuticals Inc., and BlackBerry Ltd

Today's stocks to watch in the news include Facebook Inc (NASDAQ:FB), ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), and BlackBerry Ltd (NASDAQ:BBRY)

Josh Selway

Dec 20, 2016 at 9:24 AM

U.S. stock futures are signaling another move higher. Among specific equities in the spotlight today are social media stock Facebook Inc (NASDAQ:FB), biotech ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), and tech stock BlackBerry Ltd (NASDAQ:BBRY). Here's a quick look at what's driving FB, ACAD, and BBRY.

FB is in focus this morning, after the European Union (EU) accused the company of providing misleading information during its takeover of messaging WhatsApp. Facebook Inc stock has struggled since the election, underperforming the S&P 500 Index (SPX) by 15 percentage points during the past two months to trade at $119.24. While short interest increased by 35% in the past two reporting periods, just 1% of the stock's float is sold short, meaning there's plenty of room for more bears to jump on, which could pressure FB shares further.
ACAD is up 18.2% in electronic trading, after the company announced its drug for psychosis in Alzheimer's patients, pimavanserin, met its goals in a mid-stage study. The shares closed at $25.43 on Monday, and while the pending move would put them atop the $30 that acted as resistance last month, ACADIA Pharmaceuticals Inc. would still be trading below its year-to-date breakeven point. At the same time, ACAD options traders should be pleased with today's potential gains. For instance, call buying has more than tripled put buying during the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX).
BBRY is looking at a 1.7% advance when the market opens, after the company posted better-than-expected adjusted earnings for the third quarter. As of last night's close at $7.71, BlackBerry Ltd was down almost 17% year-to-date, but if the shares close higher today, it'll mark the third straight quarter they've done so in the session immediately following an earnings release. And if the stock can continue to battle back, it could encourage some bearish analysts to raise their ratings. At the moment, just three of 15 brokerage firms recommend buying BBRY.

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