Why Twitter Inc (TWTR), Juno Therapeutics Inc (JUNO) and MGM Resorts International (MGM) Are 3 of Today’s Best Stocks

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One day after the worst trading day of 2015, U.S. stocks staged a mild bounce back after yesterday’s drubbing, with bargain hunters feeling a little more optimistic that Greece could get a last-minute deal done with the International Monetary Fund (IMF).

Twitter stock TWTRGreece has a midnight deadline looming tonight to pay the IMF 1.5 billion euros ($1.7 billion). Another negative was a report that Standard & Poor’s had downgraded four Greek banks to “selective default.”

By mid-afternoon it was reported that Greece will send a new proposal to its creditors on Wednesday. A third, and tougher bailout program will be considered by the group at that time.

In other news, the April 20 city S&P/Case-Shiller Price Index reported a 0.3% increase in home prices from March, and a 4.9% increase year-over-year. However, economists were expecting 0.8% and 5.5% rises respectively. The S&P data seems to indicate that while home prices are still rising, they are not accelerating as they were several months ago.

The Dow Jones Industrial Average was up 0.1%, while the S&P 500 was 0.3% higher, and the Nasdaq Composite 0.6% to the good. Among sectors, financials were particularly strong today, but all sectors were higher.

As for individual issues, Twitter Inc (TWTR), Juno Therapeutics Inc (JUNO) and MGM Resorts International (MGM) hit the ground running, and finished the day as three of today’s best stocks.

Twitter Inc (TWTR)

TWTR stock climbed 5.9% higher today amid renewed speculation that it may be the recipient of a takeover bid.

Also boosting TWTR stock today was a report from Canaccord Genuity Group that Twitter is working to improve various aspects of its website, as its tie-in with Google (GOOG, GOOGL) searching will improve user experience, which long-term adds to Twitter’s ultimate value. For example, tweets are now helping to boost sites in search engine results.

Canaccord has a “buy” rating on TWTR stock with a price target of $52, about 44% higher than current levels.

Juno Therapeutics Inc (JUNO)

JUNO stock vaulted 15.2% higher today after the clinical stage biopharm company announced it has entered into a 10-year licensing agreement with Celgene Corporation (CELG).

Celgene will take a 10% share in Juno by purchasing 9.1 million shares of JUNO stock at $93 per share, for a total of just under $1 billion. It’s an expensive deal for CELG, but the prize is a piece of JUNO’s drug development platform. Those are T-cell immunotherapy treatments for various forms of cancer.

JUNO stock has fluctuated between $40 and $67 this year.

MGM Resorts International (MGM)

A report that China has eased up on restrictions for local tourists visiting Macau sent shares of MGM stock up 3.8% today.

While travelers with mainland China passports have only been able to stay in Macau for five days, Chinese officials will now allow seven-day stays. In addition, gamblers will now be permitted to visit Macau twice a month instead of twice every 60 days.

Other casino stocks, such as Las Vegas Sands Corp. (LVS) and Wynn Resorts, Limited (WYNN). also celebrated the news, and were higher by similar percentages.

As of this writing, Ethan Roberts does not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2015/06/twitter-inc-twtr-juno-therapeutics-inc-mgm-resorts-international-3-todays-best-stocks/.

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