Active traders may look at stocks that moved the most in percentage terms on the last day.
Cigna (CI) fell by 2.89% after its Express Scripts unit sued the Federal Trade Commission (FTC). The pharmacy benefit manager asked a federal judge to order the FTC to withdraw its report about rising drug prices in the U.S.
The lawsuit is a distraction for management. Additionally, the FTC may have a strong case against Express Scripts hiking prices in a short period.
Edwards Lifesciences (EW) is the second stock pick. Shares peaked at around $96 before bottoming at $58.93. The stock tested the $70 level recently on Monday. Speculation that the firm attracted a takeover helped EW’s stock price. Johnson & Johnson (JNJ) is a potential buyer of the medical equipment manufacturer.
In the unpopular vaccine sector, Moderna (MRNA) is a speculative trade. This third pick attracted the most bearish short interest as a percentage of share float (7.48% or 25.63 million short shares).
Hewlett Packard Enterprise Company (HPE) is the fourth pick. The stock jumped by 5.63% to close at $18.20. This suggests that selling pressure ended at $16.00.
Enphase (ENPH) is the fifth pick. ENPH stock added 6.31% as traders accumulated clean energy stocks. The Fed’s expected rate cut this afternoon is lifting solar and clean energy stocks.