Photo: Wikimedia Commons
With earnings season well under way, banking scandals brewing, and a lot of development in the pharmaceutical industry taking place, we thought we would take a look at stocks being discussed a lot more than usual.StockTwits.com has a useful tool to show which stocks are generating a lot of social media buzz called “Social Signals,” which helps to identify which tickers people are talking about.
Here are 10 stocks that are seeing a massive uptick in volume in terms of the number of times they’ve been tweeted about in the past month:
- Orexigen Therapeutics (OREX, +2344% tweet volume) – The company recently announced that enrollment for a clinical trial to assess the cardiovascular risks of taking Contrave, the weight loss drug currently in development, is ahead of schedule.
- Horizon Pharma (HZNP, +1156%) – The company recently announced a deal with Grunenthal to produce and sell its arthritis drug DUEXIS in Latin America, marking the company’s first international licensing of its products.
- Barclays (BCS, +825%) – Barclays has been making headlines recently due to its position at the centre of the LIBOR rate-rigging scandal currently rocking the international banking industry.
- ACADIA Pharmaceuticals (ACAD, +551%) – The company just announced that it was abandoning the development of an experimental schizophrenia drug it had been working on.
- Alcoa (AA, +525%) – The aluminium giant – whose earnings announcements are seen as the unofficial kick-off to earnings season – recently reported results for the second quarter, beating on the top and bottom line.
- Alexza Pharmaceuticals (ALXA, +506%) – The company recently resubmitted a new drug application to the FDA for its schizophrenia drug, which had previously been denied on grounds that there were “deficiencies” that needed to be resolved at the facility where Alexza manufactures the drug.
- VIVUS (VVUS, +422%) – The pharmaceutical company’s stock has seen a lot of interest after a competitor, Arena Pharmaceutical, had an obesity drug approved by the FDA, because VIVUS also has an obesity drug in the works.
- SUPERVALU (SVU, +403%) – The troubled U.S. grocery chain has seen its share price take a beating since announcing that the company would “review strategic alternatives” associated with deep cost cuts and also suspend its dividend.
- KB Home (KBH, +403%) – The home builder recently reported earnings, revealing a narrower loss than reported in the previous quarter and reporting favourable developments in the U.S. housing market which sent the stock soaring.
- Red Hat (RHT, +361%) – The open source software company has experienced volatile trading since reporting earnings right in line with analysts’ expectations a few weeks ago.