Buzz Stocks: Tesla Motors Inc, Endologix, Inc., and Seattle Genetics, Inc.

U.S. stock futures are pointing to a mixed open, as traders return from the long holiday weekend. Among specific equities in the spotlight today are electric car maker Tesla Motors Inc (NASDAQ:TSLA), medical device stock Endologix, Inc. (NASDAQ:ELGX), and biotech Seattle Genetics, Inc. (NASDAQ:SGEN). Here's a quick look at what's driving TSLA, ELGX, and SGEN.

• TSLA could get a boost today, thanks to news Panasonic will invest roughly $256 million in a New York factory that will begin producing photovoltaic cells and modules next summer. Tesla Motors Inc stock has mostly been moving lower since peaking at $269.34 back in April, though the shares have found support near $180 in recent weeks, and managed a close at $213.34 on Friday -- putting them just below their 200-day moving average. Still, analysts have sided with short sellers and options traders, taking a bearish stance on TSLA. Seventeen brokerage firms track the stock, but just three recommend buying it. 
  
  
• ELGX is selling off in electronic trading, down 14.6%, after the company announced it has put a temporary hold on its AFX system due to what's being called a manufacturing issue. The stock is no stranger to huge losses, as it has lost more than half its value since its July high of $14.50, last seen at $7.19. Understandably, short sellers continue to target Endologix, Inc., with short interest now sitting at its highest point in at least 14 years. In fact, more than one-fifth of the stock's float is controlled by these bears. 
  
  
• SGEN is also getting crushed ahead of the open, dropping 16% so far, on news the Food and Drug Administration (FDA) has placed a hold on a number of clinical trials for the company's leukemia treatment, vadastuximab talirine. While the shares have edged lower in recent weeks, they've still enjoyed a solid 2016, adding 37.8% to trade at $61.86, while touching an all-time high of $75.36 just last month. Short-term options traders may be well-positioned for today's potential pullback, though. Seattle Genetics, Inc. has a Schaeffer's put/call open interest ratio (SOIR) of 1.35, which ranks in the 99th annual percentile. Said simply, options traders targeting contracts that expire in the next three months are overwhelmingly put-skewed. 

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