Akorn, Barclays, eBay News Today

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

Apr 10, 2017 at 9:51 AM
facebook twitter linkedin


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.
 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

 


 


 
Special Offers from Schaeffer's Trading Partners