The stock market is lower today, kept in negative territory by spiraling oil prices. Not all of the action is to the downside, though, with drug stock Regeneron Pharmaceuticals Inc (NASDAQ:REGN), alternative energy name Vivint Solar Inc (NYSE:VSLR), and Apple supplier Advanced Micro Devices, Inc. (NASDAQ:AMD) all trading sharply higher. Here's a quick look at what's moving shares of REGN, VSLR, and AMD.
REGN Stock Hits New High After Novartis Drug Data
Regeneron stock is trading up 5.3% at $496.53 -- fresh off an annual high of $504.89 -- even after Novartis reported strong data for its rival eye drug. However, while the treatment will increase competition for REGN's Eylea, Baird notes that "with a filing not until 2018, Eylea is unlikely to see any significant impact until 2019." The shares are now up 35.3% year-to-date, and could be due for a round of upgrades. Of the 19 analysts covering the shares, 10 maintain a lukewarm "hold" rating.
VSLR Stock Upgraded to "Buy" at Goldman Sachs
After hitting a 52-week peak of $5.30 earlier, Vivint Solar stock was last seen up 18.4% to trade at $5.15, at the top of the Big Board. Goldman Sachs upgraded the shares to "buy" from "neutral," and raised its price target to $6 from $3.50 -- territory not charted since March 2016 -- explaining the company could be an appealing M&A target.
Since skimming familiar support at $2.75 in mid-May, VSLR shares have popped more than 87%, and short sellers have been hitting the exits. Short interest fell 3.7% in the most recent reporting period to 7.2 million shares. Nevertheless, it would still take more than two weeks to cover the remaining bearish bets, at the stock's average pace of trading.
AMD Stock Jumps on Upbeat Pacific Crest Outlook
AMD stock has surged 7.8% to trade at $12.86, after Pacific Crest waxed optimistic on several chip stocks. The brokerage firm kept its "positive" rating on Advanced Micro Devices, saying it, as well as NVIDIA, are well-suited to capitalize on growing demand for graphics processing chips from bitcoin miners. AMD has been on the mend since dipping into single-digit territory in early May, even amid intense selling pressure. Specifically, short interest is up 31.2% since the May 1 reporting period to 158.6 million shares -- the most in at least 15 years.