Micron, Twitter, Xenon News Today

Micron, Twitter, and Xenon are in the news today

by Alex Eppstein

Published on Mar 24, 2017 at 9:20 AM
Updated on Mar 24, 2017 at 10:46 AM

Stock futures are mixed this morning, as Wall Street keys in on President Trump's healthcare ultimatum. Among stocks in focus are chipmaker Micron Technology, Inc. (NASDAQ:MU), microblogging platform Twitter Inc (NYSE:TWTR), and drugmaker Xenon Pharmaceuticals Inc (NASDAQ:XENE). Here's a quick roundup of the headlines moving shares of MU, TWTR, and XENE.

Micron Eyes Post-Earnings Highs

MU is set to gap nearly 14% higher at the open, after an upbeat earnings report prompted a raft of bullish brokerage attention. Specifically, no fewer than eight analysts raised their price targets on the stock, with Needham setting the highest bar, at $50 -- territory not explored since 2000. After settling yesterday at $26.47, Micron Technology, Inc. could hurdle the round $30 level today, translating into a new two-year high. Even before today, the brokerage crowd was in MU's bullish corner, with 15 of 18 handing out a "buy" or better endorsement, and not a single "sell" to be found. Options traders have likewise taken a glass-half-full approach toward the shares.

Twitter Considers Tweetdeck Subscriptions

TWTR is mulling the creation of a subscription-based edition of its popular Tweetdeck interface. The news has the social media shares up 1.3%, after they settled Thursday at $14.93, down 8.4% year-to-date. Twitter Inc stock has few friends on Wall Street. Specifically, 96% of analysts rate the shares a "hold" or worse, while almost 10% of TWTR's total float is sold short.

Drug Data Drills Xenon Stock

XENE is pointed 47% lower in electronic trading, after the company's acne drug, XEN801, failed in a mid-stage study. Despite closing at $9.85 yesterday, and on a 49.6% annual lead, the stock could hit a record low if its pre-market losses materialize. This could also prompt bullish analysts to throw in the towel on Xenon Pharmaceuticals Inc. Currently, all four brokerage firms with coverage on XENE stock rate it a "strong buy."

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