VRX, VUZI, and TIF are among the stocks in the news today
Stock futures are trading near fair value ahead of today's G-20 summit, which will include U.S. Treasury Secretary Steven Mnuchin. Among stocks in focus are pharmaceutical firm
Valeant Pharmaceuticals Intl Inc (NYSE:VRX), wearable tech name
Vuzix Corporation (NASDAQ:VUZI), and luxury retailer
Tiffany stock, Here's a quick roundup of the headlines moving shares of VRX, VUZI, and TIF stock.
ValueAct Gives Valeant Pharmaceuticals a Post-Ackman Nod
VRX stock is trading up 4.2% ahead of the bell, after closing last night at $11.20. Boosting the shares is news that ValueAct increased its stake in Valeant Pharmaceuticals Intl Inc to 5.2%, calling the shares "undervalued." This comes just days after
Bill Ackman announced he threw in the towel on his losing VRX bet. Valeant shares could definitely use some upside, considering they've shed nearly 23% year-to-date -- and roughly 67% year-over-year. Short sellers have certainly been on the winning side of VRX, too, with more than 11% of the stock's float sold short.
Earnings Have Vuzix Stock at Risk of Erasing 2017 Gains
Shares of VUZI are down 11.9% in electronic trading, after the company's fourth-quarter revenue came up far short of the consensus estimate. Today's projected price move could send the shares back into the red on a year-to-date basis. A continued struggle could prompt a round of bearish brokerage notes from the upbeat analyst bunch. Three analysts currently cover Vuzix Corporation, each of which has issued a "buy" rating toward the stock. Plus, the average 12-month price target of $10.50 stands at a 45.8% premium to last night's close at $7.20 and territory not charted in six years.
TIF Stock Set to Pop After Earnings Win
TIF stock is set to climb 3.7% out of the gate to a fresh annual high, after the retailer turned in better-than-expected
earnings and an encouraging forecast. Tiffany shares have already had an impressive run in 2017, up 16.2%, based on last night's settlement at $89.98. TIF options traders have been buying to open calls over puts at a faster-than-usual clip ahead of earnings, too. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), TIF's 10-day call/put volume ratio of 1.20 ranks in the elevated 63rd annual percentile.
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