Three top-20 industry groups from the Medical sector showed nice price action Monday. All three groups have been long-time market leaders and a number of stocks within the groups are shaping late-stage bases. Shares of generic-drug giant Allergan (AGN), formerly know as Actavis, cleared a 315.10 cup-with-handle entry Monday. Volume was modestly above average. Allergan’s latest base corrected a mild 12%, but is late stage. The stock’s relative
A bunch of Wall Street analysts gave Fitbit a physical on Monday and gave the maker of fitness-tracking devices a thumbs up. Fitbit stock rose 3.3% Monday to 43.48, earlier touching an all-time high of 44.59. Fitbit went public on June 18 at 20. Investment banks Deutsche Bank, Stifel and SunTrust Robinson Humphrey initiated coverage of the stock with buy ratings. Piper Jaffray initiated with an overweight rating. Others were on the fence, based on valuation and competitive concerns. Morgan Stanley rated Fitbit as equal weight, while Bank of America Merrill Lynch and Raymond James rated it neutral and market perform, respectively. ” Fitbit (FIT) is an authentic consumer brand that is leading the wearable technology space and is a brand that has become synonymous with the category,” Piper Jaffray analyst Erinn Murphy said in a research report. She set a price target of 52 for Fitbit stock. Fitbit has shown …
Honeywell, BAE Systems, Lockheed, AT&T, IBM, Intel, Raytheon, HP, Booz Allen, Cisco Systems and EMC are all, of course, well-known … security companies? Indeed, the ranks of computer security vendors range far beyond the pure-play makers of security software such as Symantec (SYMC), Palo Alto Networks (PANW) and Fortinet (FTNT). That defense contractors and big tech companies are moving into, or deeper into, security is no surprise given the