Facebook, C R Bard, Ocean Power Technologies Stocks Moving Today

Three stocks making big moves on the charts today are Facebook, C R Bard, and Ocean Power Technologies

Apr 24, 2017 at 2:54 PM
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U.S. stocks are mounting a huge rally, thanks to election results out of France. Among specific stocks on the move this afternoon are social network Facebook Inc (NASDAQ:FB), medical device stock C R Bard Inc (NYSE:BCR), and renewable energy specialist Ocean Power Technologies Inc (NASDAQ:OPTT). Here's a quick look at what's moving shares of FB, BCR, and OPTT.

Facebook Stock Surges Ahead of Earnings

FB shares are roaring higher once again, last seen up 1% at $145.18, after earlier hitting a record high of $145.67. Aside from the broad-market tailwinds, Facebook stock is getting a boost from a bullish note at Pacific Crest, which reiterated its "overweight" rating and $150 price target, telling investors to own the stock through the company's first-quarter earnings release next Wednesday afternoon. Today's move puts FB stock's year-to-date advance at 26.2%, and options traders appear to be betting on more upside. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows 1.71 calls have been bought to open for every put during the past two weeks. 

Becton Dickinson Buying C R Bard for $24 Billion

BCR is up 20.1% today at $303.96, and earlier touched a record high of $305.66, on news the company is being bought by Becton Dickinson and Co (NYSE:BDX) for $24 billion in cash and stock, or $317 per share. Meanwhile, it looks like a number of short seller dodged a bullet. Specifically, short interest on C R Bard Inc declined by 28% in the last reporting period alone. 

PowerBuoy Launch Lifts Ocean Power Technologies Stock

After closing Friday at $1.83, OPTT stock rallied as high as $3.67 earlier, following news the company deployed its PB3 PowerBuoy off the coast of Japan. The shares were last seen 41% higher at $2.58, but remain well below their 52-week high of $15.65 from July. Plenty of traders have been betting against Ocean Power Technologies Inc, too. In fact, a million OPTT shares are held by short sellers at the moment  -- compared to just 60,000 at this point last year -- equating to 16.7% of the stock's float.

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