Buzz Stocks: Lennar Corp, Atmel Corp, and Uniqure

Today's stocks to watch include Lennar Corporation (LEN), Atmel Corporation (ATML), and Uniqure NV (QURE)

Sep 21, 2015 at 10:01 AM

U.S. benchmarks are higher this morning, after three Fed officials called for a rate hike before the year closes. Today's equities in focus are homebuilder Lennar Corporation (NYSE:LEN), microcontroller corporation Atmel Corporation (NASDAQ:ATML), and pharmaceutical firm Uniqure NV (NASDAQ:QURE).

LEN is 2% higher at $52.85 this morning, after reporting far better-than-expected earnings. Lennar Corporation attributed the performance to an ongoing recovery in the housing market -- leading to higher sales and higher selling prices. Technically, LEN enjoys support from its 10-month moving average, which has escorted the stock 18% higher in 2015. Option players, analysts, and short sellers all lean to the bearish side for LEN (a set-up all too familiar among homebuilders), though. At last check, 12.4% of LEN's float is sold short, representing nearly six sessions' worth of pent-up buying demand, at the stock's average pace of trading. Should this morning's news spook the bears out of their pessimistic positions, LEN could enjoy a short-covering rally.

ATML announced that it will be acquired by Dialog Semiconductor for roughly $4.6 billion. Atmel Corporation is 14.6% higher at $8.33, as investors digest this news. The transaction is expected to close during the first quarter of calendar 2016, and could disappoint China Electronics Corp, which last week emerged as a rumored suitor for ATML.

QURE initially jumped out of the gate -- notching a new all-time high of $36.38 -- but has since turned 4.1% lower to sit at $32.05. The company said early stage studies demonstrated that its experimental gene therapy for Sanfilippo B syndrome was found safe and effective. Perhaps QURE traders are taking profits; Uniqure NV has more than doubled in 2015, and has added 21.5% in September alone. This performance has caught the attention of analysts, as all 10 of the brokerages tracking QURE rate it a "strong buy."

Get the skinny on all the biggest stories of the morning… Sign up now to get Schaeffer's Midday Market Check delivered straight to your inbox!

Follow @Schaeffers

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!