Patent news is lifting TIVO and CYAD stocks
The Dow is lower this afternoon, amid weakness in bank stocks. Among the stocks making big moves are media concern TiVo Corp (NASDAQ:TIVO), drugmaker Celyad SA (ADR) (NASDAQ:CYAD), and offshore driller Atwood Oceanics, Inc. (NYSE:ATW). Here's a quick look at what's moving shares of TIVO, CYAD, and ATW.
Patent Ruling Boosts TIVO Stock
TiVo stock is rallying today, last seen 12.2% higher at $18.40, thanks to a favorable patent ruling against Comcast. The shares are now on track to close north of their 50-day moving average for the first time since May 3. Analysts are very bullish on TIVO shares, too, with all four covering brokerage firms issuing a "strong buy" rating. Plus, the stock has an average 12-month price target of $30 -- territory not seen since April 2012.
CYAD Stock Stays Hot on Patent News
Celyad received another U.S. patent for its allogeneic cancer treatment, news that has the shares up 9.7% at $43.84. CYAD stock has more than doubled year-to-date, successfully filling a bear gap from last June. There's been a surge in short interest of late, so these gains aren't good news for all traders. In fact, short interest on Celyad stock jumped 152% in the most recent two-week reporting period -- though short interest on the equity remains negligible overall.
M&A News Puts ATW Stock Near the Top of the NYSE
Exactly one week after Goldman Sachs called Atwood Oceanics an "attractive M&A target," ENSCO has announced it plans to buy the company in an all-stock deal valued at $839 million -- or $10.72 per ATW share. As such, ATW stock is up 24.5% at $10.06, making it one of the top gainers on the New York Stock Exchange (NYSE).