STOCKS TELEGRAPH

Author: ST Staff

  • Top Performers Braving the Mixed Market Sentiment

    Top Performers Braving the Mixed Market Sentiment

    It’s a mixed afternoon in the stock markets after retail data missed estimates. The consensus was that the retail sales would rise by 2.1% in July, but the numbers came back at 1.2%. This shows that the economy is still weak and may be in need of another bailout. However, there is optimism that the numbers also point to resilience given that money from the previous bailout is already spent. Economists believe that the numbers could point to recovery and that August could post even better numbers.  Despite the optimism, there are concerns that the market could be hurt by the fact that Congress is going into recess without a deal on the bailout. Failure to clinch a deal creates additional risks to the economy. In this environment of mixed sentiment, there are stocks that are outperforming the market. Some of the top performers this afternoon are:

    Sky Solar Holdings Ltd [NASDAQ: SKYS]

    Sky Solar Holdings Ltd is a top performer this afternoon and is up by 37.42%. This follows the company’s announcement of a Cayman Court Decision that was entered on the 30th of July, 2020.  The company also announced that yesterday, it had filed a complaint against Hudson Solar Cayman in the supreme court of New York. The company’s lawsuit wants a declaratory judgment on some of the aspects of the allegations by Hudson. The massive jump in value shows that investors are happy with the events that have transpired so far.

    Mesoblast Limited [NASDAQ: MESO]

    This is another big gainer this afternoon and is up by 46%. The stock’s rally follows news that the US FDA committee had voted 9:1 in support of Remestemcel-L in children that are suffering from Steroid Refractory Acute Graft Versus Host.  The company’s CEO, Dr. Fred Grossman stated that the treatment of Steroid-Refractory Acute Graft Versus Host was of utmost importance especially in kids below the age of 12. He added that the company was happy with the latest developments and that it was committed to an even closer working relationship with the FDA, as they review the treatment.  According to Dr. Joanne Kurtzberg, a professional of pediatrics at the Duke University Medical Center, the disease currently has no FDA-approved treatments.

    Muscle Maker Inc. [NASDAQ: GRIL]

    Muscle Maker Inc.is gaining this afternoon and is currently up by 15%. This follows the company’s announcement that it had started construction at four locations.  The construction will happen at 4 college locations namely: Manassas, Alexandria, Woodbridge, and Loudoun, all within the Northern Virginia Community College. The company also stated that it would give students a grab-and-go option.

     

     

  • Stocks to Watch as Markets Await Retail Data

    Stocks to Watch as Markets Await Retail Data

    The markets are headed for a weak start to the day, as investors await retail sales data.  It is widely expected that July data will show a slowdown compared to June data.  The numbers are expected to show an increase of 2.1% compared to 7.5% in June. The slowdown is an indicator of the depletion of the bailout money that had driven the V-shaped recovery that the markets experienced in June.

    According to the Chief U.S Economist at Deutsche Bank, Matt Luzzetti, the end of these benefits puts a significant risk to consumer spending especially the low-income bracket. Amidst the risks posed by an end to the benefits, the markets are watching the impasse between Democrats and Republicans on an economic bailout. While Trump already signed an executive order on the economy, it is not enough to support a full-blown economic recovery.

    Despite the weakness in the economy as reflected in the anticipated retail data. There are stocks that recorded significant gains pre-market. If the data comes out positive and beats market expectations, these pre-market gainers could close the week in the money. Some of the biggest gainers ahead of markets are as below.

    Voxeljet AG [NYSE: VJET]

    Voxeljet AG looks set to start the day in gains. This comes after the company reported Q2 results. The company reported that total revenues in Q2 ir dropped by 22.5%.  It also reported that gross profit margins dropped slightly from 30.2% in Q2 of 2019 to 25.9%. The CEO Dr. Ingo Ederer stated that a few months ago, it got a large individual order for its 3D printers from a top U.S Electric car maker.  However, he added that the company’s revenues were hit by the COVID-19 pandemic. Nonetheless, the company announced that it had managed to improve its cash position through its partnership with the European Investment Bank. He added that they were looking forward to a stronger second half of the year.

    Taiwan Liposome Company Ltd [NASDAQ: TLC]

    This is another top performer this morning and is up by 95% pre-market. This follows the company’s announcement that it had submitted an IND for TLC19, an inhalable Liposomal Hydroxychloroquine in the treatment of COVID-19.  Given the global anticipation for a COVID-19 vaccine/cure, this stock is likely to rally all through the day on the strength of these new.

    Midatech Pharma Plc [NASDAQ: MTP]

    Midatech Pharma PLC is another top performer this morning and is a key stock to watch today.  This follows the company’s announcement of its registration statement with regards to a 12,695,445 share resale. This is likely to keep the stock active all day and close the week on a higher note.

  • Top Performers as Better Than Expected Unemployment Numbers Uplift Markets

    Top Performers as Better Than Expected Unemployment Numbers Uplift Markets

    The markets are up this afternoon with the NASDAQ and the S&P 500 both in the green.  This follows the release of better than expected unemployment data by the Labor Department. The department has announced that weekly jobless claims dropped for the first time in 5 months.

    The markets were expecting jobless claims to come out at 1.1 million, but they came out at 963k for the week that came to a close on August 8th. The data also shows that continuing jobless claims on a weekly basis dropped to their lowest during the Coronavirus period to stand at 15.486 million. This was the first time that the numbers were dropping below 16 million during the pandemic era. This coupled with hopes of a vaccine has seen market optimism increase.  The markets are hopeful that a vaccine could help reboot the economy and push it back to pre-pandemic levels.  As market optimism rises, certain stocks are outperforming the market by a huge margin. Some of the top performers this afternoon are:

    GrowGeneration Corp [NASDAQ: GRWG]

    GrowGeneration Corp is a top performer this afternoon and is up by 40%. This follows the company’s release of strong Q2 results. The company reported that in the quarter, it had a revenue of $43.5 million and a net income of $2.6 million.  The company also raised its revenue guidance for the year 2020 to between $170 million and $175 million. Breaking down the numbers, the company stated that revenue in Q2 rose by 123% from $19.5 million in the second quarter of 2019 to $43.5 million The company also announced that the gross profit increased by 99% from $5.8 million in Q2 of 2019 to $11 .6 million in Q2 of 2020. The company also reported that its GAAP net income per share also improved from $0.4 in 2019, t $0.7 in Q2 of 2020.

    Scienjoy Holding Corporation [NASDAQ: SJ]

    Scienjoy Holdings Corporation is another top gainer this afternoon and is up by 20%. This follows the company’s announcement that it had signed an agreement that would see it buy BeeLive, nd expand its global presence. Commenting on the deal, the company’s CEO Victor He stated that they were happy with the deal and that they were confident that the deal would help the company grow its shareholder value. He added that the deal was a win-win for both companies.

    EXP World Holdings Inc. [NASDAQ: EXPI]

    EXP World Holdings Inc is another top gainer this afternoon and is up by 13%. Its rally is price action at play after yesterday’s bullish continuation pattern. Volumes are high too and are supporting the company’s price action.

     

  • Stocks to Watch Even as Market Sentiment Points to a Flat Trading Day

    Stocks to Watch Even as Market Sentiment Points to a Flat Trading Day

    The markets are set for a flat start this morning. On one hand, investors are looking forward to the entry of a COVID-19 vaccine, which could help rejuvenate the economy. Even before the vaccine comes, the markets are projecting an end to the lockdowns that have now become a part and parcel of life. However, there are concerns about a delay in a stimulus package deal between democrats and republicans.

    Yesterday, Treasury Secretary Steven Mnuchin stated that the White House would not relent in its push for the $1 trillion package that has been offered by republicans. The market will also be waiting for data from the Labor Department on weekly insurance claims for unemployment.

    The data is expected to paint the picture of a weakened economy, with the expectation that an additional 1.1 million Americans filed for unemployment claims last week. If these numbers come out worse, they could see the market flat-line or drop in Thursday’s session. Despite this mixed sentiment, there are stocks that are showing strong upside momentum this morning. Some of the top performers pre-market are:

    NTN Buzztime Inc. [NYSE: NTN]

    NTN Buzztime is a top performer this morning and is up by over 70% pre-market. This follows the company’s announcement that it had entered into a merger agreement with ImmunoTherapeutics LLC. The company stated that if shareholders approve the deal, Brooklyn will merge with a company that is wholly-owned by NTN Buzztime and that deal will be all-stock.

    If it is approved, the deal will be closed in Q4 of 2020. Commenting on the deal, NTN CEO Allen Wolff said that it was an indication of the company’s commitment to continually give value to shareholders. He added that the company was open to the idea of selling assets to facilitate the combined entity thrive. Commenting on the deal, Brooklyn CEO Ron Guido stated that the merger offered them an opportunity to have the company trade publicly and gain exposure to a wider number of investors. This deal could see the value of this stock rise in the day as the news filter into the market.

    Fat Brands Inc. [NASDAQ: FAT]

    Fat Brands Inc. is another top performer this afternoon and is up by over 200%. This follows news that the company had agreed to buy Johnny Rockets, a restaurant chain for $25 million. The company has stated that it is funding the deal in cash and from money in its securitization facility. The deal is expected to conclude next month. Given the potential revenues that the company could make, Fat Brands could end the day as a top performer.

    Sundial Growers Inc. [NASDAQ: SNDL]

    Sundial Growers Inc. is in the green pre-market and is up b 20%. This comes as investors await the company’s Q2 results at markets close. The strong momentum could be an indicator that investors expect the company to outperform projections. It will an interesting stock to watch in the day.

     

     

  • Stocks to Watch as Hopes of A COVID-19 Vaccine Drive Up Markets

    Stocks to Watch as Hopes of A COVID-19 Vaccine Drive Up Markets

    The stock markets are headed to a good start this morning. Analysts expect that with Russia’s move to approve a vaccine, the west will also move fast to release one. A vaccine surprise now, or in the near future, could send the markets rocketing as it would offer hopes of a full economic reopening.

    As the markets await such news soon, there is increased optimism that one will be available before the end of the year. This coupled with Trump’s executive orders on the economy are likely to support the markets today, and all through the week. As optimism rises, stocks that have good news such as earnings, technical developments, or major partnerships are likely to record major gains in the day. Some of the stocks that are showing potential for major gains in the day are as below:

    India Globalization Capital Inc. [NASDAQ:IGC]

    India Globalization Capital Inc. is a top gainer pre-market and is up by over 50%. This follows the company’s announcement that the FDA had approved its pain treatment. The company stated that its cannabinoid formula was meant for the treatment of muscle pains, neuropathic pain, and chronic pain. Pain management is big business and costs disability programs, and organizations through lost productivity, more than $500 billion annually. The company stated that it was seeking patents for the product, the delivery systems as well as the molecular modifications among other proprietary technologies. Given the impact that this new treatment will have on its bottom-line, the company could a top gainer all through the day.

    Summer Infant Inc. [NASDAQ:SUMR]

    Summer Infant Inc. is another top performer this morning and is up by 29%. These gains come hours after the company announced its financial results for the 2020 financial year. The company reported that net sales in the quarter stood a $38.23 million, a slight drop from the $46.4 million that it reported in Q2 of 2019. The company attributed this to the COVID-19 pandemic that affected retail availability an also created supplier constraints.  The company also reported that it was restructuring to cut on costs stating that G&A costs dropped from $8.1 million in Q1 to $6.7 million. The company also reported that in Q2, it had cash flows of $9.6 million compared to $2.4 million in a similar quarter a year ago.

    Cellular Biomedicine Group Inc. [NASDAQ:CBMG]

    Cellular Biomedicine Group Inc. is gaining pre-market and is up by 35%. This follows the company’s announcement that it had entered into a definitive agreement for a merger that would take it private. Under the deal, shareholders of CBMG will get $19.75 per common stock.

  • 3 Stocks Likely to Start Mid-Week Trading on a High Note

    3 Stocks Likely to Start Mid-Week Trading on a High Note

    The markets are up this afternoon, with the exception of the NASDAQ, which continues to be bogged down by underperforming tech stocks. The improved sentiment comes from increased hopes of a COVID-19 vaccine. This follows news that Russia had given regulatory approval for a vaccine.  In the U.S biopharma companies are also moving fast towards mass production of a vaccine.

    Given that the coronavirus has significantly slowed down the world economy, the markets are optimistic that a breakthrough in the fight against it would restart the global economic engine. News of a vaccine has already seen airlines, cruise ships, and hotel stocks start to gain in value. As markets gain, stocks that have big news such as strong earnings are on the rise. Some of the top performers this afternoon are as below:

    Biofrontera AG [NASDAQ: BFRA]

    Biofrontera AG is a top performer this afternoon and is up by over `100%. This follows the company’s announcement of its subscription price for 1% qualified subordinated convertible bond. In a federal gazette notice dated 29th July 2020, the company stated that it exercising its subscription rights of the bonds from 30th July to 13th August 2020. The company also announced that the subscription price of the bond would be at 100% of the bond’s nominal value, and would be subscribed at 3 Euros.

    Eyenovia Inc [NASDAQ: EYEN]

    Eyenovia Inc is a big gainer this afternoon and is up by 33.62%. This follows the company’s announcement that it had entered into an exclusive licensing agreement for the development and commercialization of MicroPine in China and surrounding regions, including in South Korea. As part of the deal, Eyenovia Inc will get upfront payments totaling to $45.75 million.

    The company will also receive an additional payment that will be premised on the achievement of regulatory milestones such as the start of clinical research in South Korea and Greater China. On top of that, Artic Vision will buy its supply of MicroPine only from Eyenovia.  The company will also pay Eyenovia a single-digit percentage in royalty payments and net sales. Commenting on the deal, Eyenovia CEO Dr. Sean Lanchulev stated that the agreement was a major step in growing the company’s commercial reach.

    Sypris Solutions Inc [NASDAQ: SYPR]

    Sypris Solutions Inc is another top performer this afternoon and is up by 39%.  This follows news that the company had won an initial contract to manufacture and test shipboard systems for Leonardo DRS Naval Electronics. The company stated that production will start this year, but did not diverge more on details of the agreement.

     

  • Stocks to Watch as Positive Sentiment Takes Hold in the Equity Markets

    Stocks to Watch as Positive Sentiment Takes Hold in the Equity Markets

    The U.S equity markets are headed for a positive start to the day. This comes after global markets show increased optimism despite China’s decision to sanction U.S lawmakers. On top of that, the markets are optimistic that the world is inching closer to a COVID-19 vaccine and possibly a cure.

    Yesterday, a U.S biotech company announced that clinical trials on its COVID-19 cure for people with severe respiratory problems had a 100% success rate.  This comes days after major biopharma companies announced that they were working on a COVID-19 vaccine manufacture and distribution. Besides hopes of a COVID-19 vaccine, market confidence has been bolstered by President Trump’s economic bailout executive orders. In this environment of optimism, stocks with positive news are gaining momentum. Some of the top performers ahead of markets are:

    Pfenex Inc. [NYSE: PFNX]

    Pfenex Inc. is a top performer pre-market and is up by 60%. This follows news that the company would be acquired by Ligand Pharmaceuticals Incorporated for $12 a share. The acquisition will either be in cash or in equity value at a cost of $438 million. On top of that, Ligand will offer an additional $2 per share as a Contingent Value Right totaling to $78 million if certain milestones are met by December 31st, 2021. The transactions is expected to be completed in Q4. These developments could reflect in the stock price when markets open.

    Oxbridge Re Holdings Limited [NASDAQ: OXBR]

    Oxbridge Re Holdings Limited is another top performer this morning and is up by over 100% pre-market. This follows the company’s release of strong Q2 results. The company announced that in Q2, its net income increased to $165,000 compared to a loss of $205,000 in a similar quarter in 2019.  The company’s premium income also increased due to a normalized recognition of premiums in 2020.  It also announced that all through the 2020 financial year, it had not made any losses. Commenting on the results, the company CEO, Jay Madhu stated that, they were optimistic about the core reinsurance business, and that they continued to evaluate growth opportunities to help diversify risks.

    Koss Corporation [NASDAQ: KOSS]

    Koss Corporation is another pre-market mover and is up by 25%. The stock’s strong performance is largely price-action driven. Yesterday’s price action points to strengthening upside momentum as bulls took control in a highly volatile day. Its pre-market price action has seen it clear out a recent high that was acting as an intra-day resistance. This could play a role in determining the stock’s price action when markets open.

     

     

  • Top Performing Biotech Stocks amidst Mixed Market Sentiment

    Top Performing Biotech Stocks amidst Mixed Market Sentiment

    The markets are in mixed territory this afternoon. The NASDAQ is down due to a sharp drop in big tech stocks that make up a huge percentage of the index. On the other hand, the Dow and the S&P 5O0 are showing signs of strength. Besides big-tech price action, markets are still digesting the executive orders that President Trump signed over the weekend.

    The package includes a $400 unemployment payout that is only expected to last for a month. President Trump also deferred payroll taxes to the year’s end, but analysts are unsure that people will be willing to spend unless there is a change in the tax laws.

    Nonetheless, the executive order gave a boost to the economy, even as markets look to congress for a more detailed package. Despite the mixed signals that the markets are sending, there are stocks that are in huge gains at the moment.  Some of the top gainers this afternoon are biotech stocks that are driven by positive product development news. Below are some of the biggest movers in the day:

    Omeros Corporation [NASDAQ: OMER]

    Omeros Corporation has gained exponentially this afternoon and though volatile, it is still up by over 48%. The huge gains come after the company announced that it got a 100% recovery and survival rate for its COVID-19 treatment for patients with Acute Respiratory Distress Syndrome. The company announced that all 6 patients that took part in the study and needed ventilators before the treatment, survived and were discharged fully recovered.

    The company further stated that the treatment, called Narsoplimab, had led to an improvement in outcomes on all the markers that it was assessed. The company also stated that it was holding talks with different agencies of the American government for accelerated manufacture of this treatment.  The company is specifically holding discussions with the Department of Health and Human Services, the Biomedical Advanced Research Development Authority, and the National Institutes of Health Accelerating COVID-19 Therapeutic Interventions and Vaccines.

    Seres Therapeutics Inc. [NASDAQ: MCRB]

    Seres Therapeutics Inc. is another top performer this afternoon and is up by over 300%. This follows the company’s announcement that its late-stage drug test for its colon infections treatment was a success.  The company was testing for its treatment called SER-109. This is an oral treatment for a C. difficile, a dangerous lung treatment.  CEO Eric Shaff said that the FDA would likely find the results clinically meaningful.

    Xtant Medical Holdings Inc. [NYSE: XTNT]

    This is another top performer this afternoon and is up by over 85%. This follows the company’s announcement that it was restructuring its debts. The company announced that it had entered into an agreement with its lenders on a plan that will see it have a better capital structure, and access growth opportunities in the future.

  • Stocks to Watch as Market Sentiment Turns Positive

    The markets are up this morning driven by positive news on the economy and a possible COVID-19 vaccine. Over the weekend, president Trump announced that he had signed an executive order to help save the economy.

    This follows an impasse between democrats and republicans on the same. With the clarity this offers and the safeguards it creates in the economy, positive sentiment could rise in the market in the near-term. Market sentiment is also driven by the growing expectation of a COVID-19 vaccine within the year, or in early 2021. According to Goldman Sachs analysts, there could be one vaccine in distribution by end of Q1 of 2021. In this environment of increased optimism, a number of stocks look poised for a good start to the day. Some of the stocks that are highly bullish ahead of markets opening are as below:

    Trevena Inc [NASDAQ: TRVN]

    Trevena Inc is a top performer pre-market and is up over 50%. This follows the company’s announcement that it had got FDA approval for OLINVYK in the management of acute pain that is so severe that it needs intravenous opioids. The company added that the newly approved treatment will be available in the market in 3 months. Commenting on the approval, the CEO Carrie L. Bourdow has stated that OLINVYK’s approval was a huge step for Trevana in its goal of changing cutting-edge science into therapies that could help patients.  He added that they would be working fast in the goal of giving patients better treatment options.

    Majesco [NASDAQ: MJCO]

    This is another top performer this morning, and is up by 20%. This follows news that Thomas Bravo had raised its bid for the company to $729 million.  On Saturday, Thomas Bravo, a private equity firm stated that it had amended its bid to $16 a share, up from its earlier bid of $13.10. The bid comes a few days after ICE agreed on a deal to buy Thomas Bravo’s Ellie Mae. The improved deal could see the value of this stock rise in the day to reflect the improved deal.

    Bridgeline Digital Inc [NASDAQ: BLIIN]

    Bridgeline Digital is another top performer pre-market and is up by 10%. This follows the selection of its Celebros Search by a big lighting company for their site search solution. Commenting on the deal, CEO Ari Khan stated that Celebros search is a powerful tool that combines eCommerce tools to help drive sales online.  Khan added that the search makes use of machine learning to understand consumer needs and give accurate search suggestions. Give that the deal could improve the company’s bottom-line, it is likely to drive positive sentiment in the day.

     

  • Top 3 Stocks Closing the Week on a High Note Despite Sluggish Market Sentiment

    Top 3 Stocks Closing the Week on a High Note Despite Sluggish Market Sentiment

    It’s a mixed day in the markets this afternoon, and the key indices are in negative territory.  The NASDAQ is down by 104 points, while the Dow and the S&P 500 are also showing signs of weakness. The current environment is attributable to a number of factors.

    First is the news that the number of job cuts in the U.S rose by 54% in July.  This is an indicator of a weak economy, due to the coronavirus pandemic. Then there is the ongoing back and forth between democrats and republicans over an economic bailout. On the other hand, there is the fact that the markets have overall been surging for months now despite the pandemic. This has created fears of overvaluation in the market. It is in this environment that stocks that are recording strong quarterly news have gained. Such stocks are a reflection of companies that are resilient enough to make money despite the pandemic. Some of the top performers this afternoon are as below:

    OpGen Inc [NASDAQ:OPGN]

    OpGen is a top performer this afternoon and is up by over 60%. This follows the company’s update of its financial results for Q2 of 2020. The company recently announced that it would be releasing its Q2 results on the 12th of August.

    The excitement follows a number of developments that the company had made in July.  At the time, the company announced that it had entered into co-promotion deal with Menarini Sillicon Biosystems for the sale of the Meharini Cell search system and other COVID-19 related products.

    The company also stated that it had gained access to an extra 5 million Euros in debt for research on COVID-19. It further announced that as of June 30th, 2020, its cash reserves stood at $12.8 million, slightly higher than the $11.5 million that it had reported a quarter earlier. With such developments in the quarter, the market will be expecting strong revenues and earnings from this company.

    Hutting Building Products Inc [NASDAQ: HBP]

    This is a top perfumer this afternoon and is up by 55%. This follows news that the company had received a buyout proposal from Mill Road Capital at $2.75 per share.     Mills is already the largest shareholder in Hutting Building and wants to acquire 100% of it at a 67% premium. The deal has seen the stock rally to reflect the value that the potential buyer is offering.

    Conduent Incorporated [NASDAQ: CNDT]

    Conduent Incorporated is another top performer this afternoon and is up by 73%. This comes after the company reported stronger than expected Q2 results. The company announced that its total contract value for the quarter rose by 92% compared to the previous quarter to hit $623 million. The company partly attributed its strong performance to its government-related business.