Akorn, Barclays, eBay News Today

Akorn, Barclays, and eBay stocks are in the news today

by Karee Venema

Published on Apr 10, 2017 at 9:51 AM

Stocks are trading modestly higher to start the week, ahead of a Group of Seven meeting in Italy. Among specific equities in focus are generic drugmaker Akorn, Inc. (NASDAQ:AKRX), financial name Barclays PLC (ADR) (NYSE:BCS), and online marketplace eBay stock. Here's a quick roundup of the news moving shares of AKRX and BCS, as well as EBAY stock.

Fresenius Takeover Talk Boosts Akorn Stock

AKRX stock has surged 10.8% to trade at $33, and is within a chip-shot of taking out its Aug. 4 annual high of $35.40. Boosting the shares is Akorn, Inc.'s confirmation of takeover talks with German-based Fresenius -- speculation that sent AKRX up 18% on Friday. The shares are now up more than 50% year-to-date, and short sellers are likely getting spooked. Short interest surged 22.2% in the most recent reporting period, and now accounts for a healthy 14% of AKRX's available float, or 4.4 times the average daily pace of trading.

Barclays Shares Trade Up After Staley Reprimand

BCS CEO Jes Staley has seen a "very significant" downward adjustment to his pay as part of a broader reprimand by the Barclays PLC board of directors, after the executive attempted to unmask a whistleblower who had questioned the character of a fellow employee. Additionally, U.K. authorities are continuing to investigate Staley over the matter. This morning, BCS stock is trading 0.5% higher at $10.68, but remains stuck beneath its year-to-date breakeven mark at $11.37. These longer-term technical struggles come amid a recent burst of selling pressure by short sellers, with short interest up 53.3% in the last two reporting periods.

EBAY Stock Holds Steady After Flipkart Stake

EBAY has joined a growing list of investors in Flipkart, investing $500 million in India's e-commerce company. Additionally Flipkart will take over eBay India. At last check, EBAY stock was trading fractionally lower at $33.91. Longer term, eBay shares have added more than 14% in 2017, and topped out at a record high of $34.74 last Wednesday. The stock seems overdue for a round of bullish brokerage notes, which could create tailwinds, considering 62% of analysts maintain a "hold" or "sell" rating. EBAY options could provide some short-term support, too, considering peak front-month put open interest resides at the underfoot April 33 strike.

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