STOCKS TELEGRAPH

Category: Mid Day Movers

  • Cloudflare (NYSE: NET) Launch Platform To Connect And Secure Companies

    Cloudflare, Inc. (NYSE: NET) shares surged 23% on Monday after the company has announced that it has launched Cloudflare One. Cloudflare One is the greatest achievement of Cloudflare, Inc. as it is a comprehensive, cloud-based network-as-a-service solution for your workforce. As we all know today is the age of the internet, every business around the world relies on the internet to operate and to connect with consumers. In the world of the internet, this new cloud platform of the company will enhance the performance of the businesses.

    Cloudflare One has the capability to provide the businesses with a chance to secure their workforce without compromising security. This approach will work in a flexible and scalable way. To protect your business there is a need to protect each individual employee and their individual devices. This new platform of Cloudflare will help the companies to protect their businesses by changing it as per their need.

    Earlier, the companies were involved in the usage of the castle-and-moat approach for the security of their organization. In today’s world, everything has moved on to the cloud. Now we can access our work from anywhere in the world but the problem is security. New businesses now need a Zero trust approach to secure their workforce. Businesses have shifted towards the Zero Trust approach after the pandemic.

    October 2020 commissioned study conducted by Forrester Consulting revealed that 80% of organizations have already decided to move to a Zero Trust Security approach. 76% of businesses are planning to migrate to a zero-trust security approach as their security approaches are outdated.

    Cloudflare protects and speeds up more than 25 million Internet properties using a global network that covers 200+ cities in more than 100 countries. Cloudflare One will provide a safe and fast connection to the workplaces and enable the team to use an app without revealing it to the public Internet. It makes personal devices safe for business use.

    Cloudflare One will provide an all in one solution to the companies and give companies the opportunities to protect their businesses against Zero-Day attacks and other malicious attacks. The employee who will work remotely will be able to enjoy the same type of security with Cloudflare One as he enjoys in his organization. Cloudflare One will connect with leading identity platforms to verify identity and check device health before granting access to applications.

    Cloudflare, Inc. (NYSE: NET) shares were trading up 23.00% at $57.01 on Tuesday. Cloudflare Inc. share price went from a low point around $14.50 to briefly over $46.37 in the past 52 weeks. NET has moved up 293.17% and 22.95% from its 52-weeks low and high. Cloudflare market cap has remained high, hitting $16.32 billion at the time of writing.

  • FuelCell Energy (NASDAQ: FCEL) Soars On Report Of DoE Project

    FuelCell Energy (NASDAQ: FCEL) Soars On Report Of DoE Project

    Shares of FuelCell Energy, Inc. (NASDAQ: FCEL) surged 10.08% as it gained +0.24 on Friday. The strong performance of the company highlighted the positive sentiments of its investors after it announced that it has secured an $8 million government project by the US Department of Energy (DoE). The contract has been given to the company to advance the demonstration and commercialization of solid oxide electrolysis high-efficiency hydrogen generation technology FuelCell Energy.

    This project is going to be the first multi-stack electrolysis system produced by using the solid oxide technology of the company. FuelCell has earlier revealed the solid oxide electrolysis technology and disclosed both 50kW and 200kW output levels. The system will have an option to use the thermal energy to enhance the electrolysis electrical efficiency to over 90%.

    Shares of FuelCell Energy, Inc. (NASDAQ: FCEL) soared 10.08% as it gained +0.24 during the trading session of Friday. It has a closing price of $2.62. Electrical Equipment & Parts company has a 52-weeks low range of 0.227 and a 52-weeks low range of 3.50. FuelCell Energy moved up 1054.18% and moved down -25.14%.  It had a trading volume of 60.76 million as compared to the average volume of 18.96 million. This company market capitalization has remained high, hitting 772.11 million at the time of writing.

    If we look at the 12-month price targets for FuelCell Energy average price target is $3.00 with a high forecast of $3.00 and a low forecast of $3.00. The average price target shows a 14.50% increase from the last price of $2.62.

    The electrolysis system will be transferred to Idaho National Laboratories (INL) after the testing of the system at FuelCell Energy’s Danbury. At Idaho National Laboratories, this system will undergo a testing system to confirm electric efficiency as well as the ability to use nuclear power plant waste heat to obtain higher efficiencies of up to 100%. Moreover, checking the performance level will accelerate the control schemes and integration design.

  • Why GameStop (NYSE: GME) Stock Is Surging Today?

    Why GameStop (NYSE: GME) Stock Is Surging Today?

    Shares of GameStop Corp. (NYSE: GME) shares soared 44.12% on the trading session of Thursday after the retailer has announced that it has signed a multi-year strategic partnership agreement with Microsoft Corp. (NASDAQ: MSFT). The Texas-based company had recorded a trading volume of 76.45 million as compared to the average volume of 7.89 million.

    GameStop Corp. aimed to speed up its digital transformation by making good use of cloud-based offerings including the Enterprise resource planning (ERP) services and Dynamics 365 customer relationship management (CRM). Through this strategic partnership, the company will expand its physical and video game offerings and will enhance the retail technology infrastructure of the company.

    GameStop Corp. will get the maximum benefits of its PowerUp Rewards, and omnichannel capabilities to deliver enhanced gaming solutions to its customers. It has 5000+ retail stores worldwide. The company aimed to perform efficiently by providing its employees with greater access to data by using cloud platform of Microsoft Corp.

    As per the agreement, GameStop will make the use of Dynamics 365, a cloud-based business application platform across its business operations including inventory, retail, finance and eCommerce.  Theeffiecenmt use of this platform will help the company to provide a better in-store customer experience.  Moreover, this agreement allows GameStop to make the use of Microsoft’s Surface Devices. Microsoft Surface devices have already been an important part of the digital modernization strategy for store management.

    GameStop Corp. (NYSE: GME) shares were trading up 44.12% at $13.49 at the time of writing on Thursday. GameStop Corp. share price went from a low point around $2.57 to briefly over $11.17 in past 52 weeks, though shares have since pulled back to $13.49. It has moved up 424.90% and 20.77% from its 52-weeks low and high, respectively. GME market cap has remained high, hitting $6.47B at the time of writing.

    Furthermore, GameStop will introduce the Microsoft 365 and Microsoft Team to its stores. The purpose of the company is to provide collaboration tools to its 30,000 stores associates. Using Microsoft Teams, store associates will be able to ask questions and share insights with one another and provide a better customer experience.

  • Tesla Inc. (NASDAQ: TSLA) Reportedly Discuss Nickel Supply Deal With Top Miner BHP

    Tesla Inc. (NASDAQ: TSLA) Reportedly Discuss Nickel Supply Deal With Top Miner BHP

    Tesla Inc. (NASDAQ: TSLA) is in discussion with Top Miner BHP Group Limited (NYSE: BHP) over the nickel supply deal. The electric car maker is trying to secure the nickel supply for future use as the company expects to grow the deliveries in the coming months. CEO Elon Musk has asked nickel miner to speed up the mining operations. The electric-car maker will need more nickel if it is planning for the new 4680 battery. Tesla will be using nickel in high performance and long-lasting batteries for electric vehicles.

    The report disclosed that Tesla is in talks with BHP Group but the deal is not finalized yet as both the companies are currently negotiating the pricing terms. Nickel is the main component of the cathodes of EV batteries. Tesla is trying to increase the amount of metal used in vehicles to improve its performance.

    If this deal will be finalized it would be a surprise for some of the investors of BHP as the nickel makes up a small part of the business of BHP. If Tesla will secure this deal, it means BHP is also trying to expand to its nickel mining capabilities.

    Tesla Inc. (NASDAQ: TSLA) shares were trading down -2.75%% at $413.98 at the time of writing on Wednesday. Tesla Inc. (NASDAQ: TSLA) share price went from a low point around $45.71 to briefly over $502.49 in the past 52 weeks. It has moved up 805.67% from its 52-weeks low and moved down -17.61% from its 52-weeks high. TSLA market cap has remained high, hitting $416.48 billion at the time of writing.

    On the other side, BHP Group shares went down 3.20% to $50.50 during the trading session on Tuesday. In the past 52-weeks of trading, this company’s stock has fluctuated between the low range of $29.78 and a high range of $58.35. It has moved up 69.58% from its 52-weeks low and moved down -13.46% from its 52-weeks high. Looking at its liquidity, it has a current ratio of 1.40. This company has a market capitalization of $119.18 billion.

  • Why Eidos Therapeutics (NASDAQ: EIDX) Stock Is Jumping Today?

    Why Eidos Therapeutics (NASDAQ: EIDX) Stock Is Jumping Today?

    Shares of Eidos Therapeutics, Inc. (NASDAQ: EIDX) rocketed Monday as the biotechnology company has announced that BridgeBio Pharma, Inc. (NASDAQ: BBIO) has decided to buy all of the outstanding common stock of Eido. BridgeBio Pharma has already owned the major stake in Eidos and is now planning to buy the remaining stake of the company including approximately 36.3% of Eidos’ outstanding shares.

    BridgeBio Pharma is planning to buy Eidos for a 41% premium above the closing price of the biotech stock on Oct. 2, 2020. The deal between Eidos and BrdigeBio Pharma has given the choices to the shareholders of Eidos.  As per the choices, stakeholders can either get 1.85 shares of BridgeBio stock or $73.26 in cash for every share of Eidos they own. The decision has been approved unanimously by both the companies boards of directors.

    Neil Kumar, Ph.D., founder, and CEO of BridgeBio and CEO of Eidos said that this deal has removed the operational complexity of the current ownership structure. He believed that this is a good deal as Eidos is preparing for a global launch of acoramidis which is used for the treatment of rare genetic diseases transthyretin amyloidosis (ATTR) cardiomyopathy and polyneuropathy.

    Eidos Therapeutics, Inc. (NASDAQ: EIDX) shares were trading up 41.58% as it gained +21.59 at $73.51 on Monday. Eidos Therapeutics, Inc.  share price went from a low point around $28.39 to briefly over $66.56 in past 52 weeks. EIDX market cap has remained high, hitting $2.84 billion at the time of writing. It has moved up 158.93% and 10.44% from its 52-weeks low and high, respectively. Looking at its liquidity, it has a current ratio of 11.60.

    WeissLaw LLP has announced that it has started the investigation against the board of directors of Eidos Therapeutics for the possible breaches of fiduciary duty and other violations. Rigrodsky & Long, P.A. and the Law Office of Brodsky & Smith, LLC also started an investigation regarding possible breaches of fiduciary duties and other violations of law related to Eidos’ agreement to be acquired by BridgeBio Pharma, Inc.

  • Should You Invest In Ford Motor (NYSE: F)?

    Should You Invest In Ford Motor (NYSE: F)?

    Ford Motor (NYSE: F) has announced the sales of its third-quarter 2020. The auto manufacturer has announced that its vehicle sales were only dropped 4.9% from the earlier years.  The company finally showed signs of recovery after experiencing the major hit by the COVID-19 pandemic which caused a decrease in the demand. But the increasing demands for sports utility vehicles and pickup trucks increased the third quarter sales of the company in the US.

    Ford has reported the sales of its trucks reached 311,751 and this third quarter is the best quarter of pickup truck sales since 2005. Ford revealed that its Q3 sales were up 27.2 percent as compared to the sales of Q2. It has sold 551,798 total vehicles this quarter as compared to the 580,251 earlier this year.

    Shares of Ford Motor traded up 2.07% as the company gained +0.14 during the trading session of Friday. It has a closing price of $6.89. In the past 52-weeks of trading, this company’s stock has fluctuated between the low range of $3.96 and a high range of $9.57. It has moved up 73.99% from its 52-weeks low and moved down -28.04% from its 52-weeks low. This company’s market capitalization has remained high, hitting $26.38 billion at the time of writing.

    The company is positive about the sales of its vehicles in quarter 4 as it is currently showing a strong performance. Ford revealed that though there is an uncertainty that is prevailing because of the ongoing pandemic but the sales results of Q3 surpassed the expectations and now the company is looking forward to a strong performer in Q4.

    Ford revealed that its retail share of the industry increased by an estimated 0.2 percentage points, while Ford’s Q3 total share expanded by 0.8 percentage points, excluding discontinued cars, Ford retail sales were up 1.3 percent.  America’s best-selling pickup sold above the 70,000 truck mark for three straight months in Q3. Retail sales were increased 10.1 percent over last year, with the retail share of the full-size pickup segment increased an expected  0.8 percentage points of share.

    Ford Motor’s new CEO Jim Farley is continuously working and focusing on the key growth areas like autonomous and electric technologies as well as commercial vehicles. Ford’s new CEO is striving to regain the image of the auto manufacturers company. The company’s main goal is to reduce cost, to improve quality, and accelerating the restructuring of underperforming businesses.

  • Solid Biosciences (NASDAQ: SLDB) Is Soaring Today. Here’s Why

    Shares of Solid Biosciences Inc. (NASDAQ: SLDB) has traded up 70.44% after the company announced that the US Food and Drug Administration (FDA) gave the permission to resume the IGNITE DMD Phase I/II clinical trial of the company. On July 24, 2020, the company has revealed that it has received the written notice from FDA that its Phase I/II clinical trial of IGNITE DMD will be halted. FDA has requested the information and safety and efficacy data related to the trial.

    Solid Biosciences has provided all the necessary details about the IGNITE DMD Phase I/II clinical trial. The company’s data has fulfilled all the requirements of the FDA and satisfied the drug administration authority. The company has promised to share all the manufacturing details with the FDA and all the changes that remove the majority of empty viral capsids, allowing target dosing to be achieved with fewer viral particles.

    The step of the company to lessen the total amount of virus delivered to each patient is to aid safe dosing of SGT-001 for the duration of the IGNITE DMD trial. In July, the written notification which the company received from FDA has also requested the comparability between SGT-001 made using Solid’s prior manufacturing process and its current, improved process.

    Solid Biosciences has received the FDA acknowledgment by giving the full details of SGT-001 two manufacturing processes. FDA has earlier halted the IGNITE DMD trial after the adverse effects of dosing in the sixth patients in November 2019. Solid Biosciences then gave all the details to the FDA in April 2020.

    In May 2020, the company received the notice of hold on the IGNITE DMD clinical trial. And in July FDA has requested manufacturing information, updated safety, and efficacy data for all patients dosed, and providing direction on total viral load to be injected per patient.

    Solid Biosciences Inc. (NASDAQ: SLDB) shares were trading up70.44% at $3.46 on Thursday. Solid Biosciences Inc. share price went from a low point around $1.93 to briefly over $13.58 in the past 52 weeks, though shares have since pulled back to $3.46. It has moved up 79.27% from its 52-weeks low and moved down -74.52% from its 52-weeks high. SLDB market cap has remained high, hitting $152.66 million at the time of writing.

    SGT-001 of Solid Biosciences is a novel adeno-associated viral (AAV) vector-mediated gene transfer therapy manufactured to treat the underlying genetic cause of Duchenne. Duchenne is caused by mutations in the dystrophin gene that result in the absence or near absence of dystrophin protein.

  • I-Mab (NASDAQ: IMAB) Gets China CDE Approval To Start Phase 3 Clinical Trial Of Eftansomatropin

    I-Mab (NASDAQ: IMAB) Gets China CDE Approval To Start Phase 3 Clinical Trial Of Eftansomatropin

    I-Mab (NASDAQ: IMAB), a biotechnology company announced Wednesday that it has got the green signal from China Center for Drug Evaluation (CDE) to commence the Phase 3 clinical trial Eftansomatropin. Eftansomatropin is a  long-acting recombinant human growth hormone (rhGH) used to treat the deficiency of growth hormone in pediatric patients.

    In Phase 1 and 2 clinical studies, Eftansomatropin has shown encouraging results as compared to the daily injected rhGH (Genotropin). This is not only the greatest achievement of I-Mab but also for pediatric patients. The company aimed to bring new innovative therapy that is safe for the patients and convenient for pediatric patients once proven.

    Eftansomatropin is proven to be very useful and has some long-term safety advantages over conventional pegylated rhGH drugs. Frost & Sullivan, a market research company revealed that only 3.7% of 3.4 million pediatric patients in Greater China with growth hormone deficiency get growth hormone therapies, which primarily consist of daily injections of rhGH.

    Shares of I-Mab traded up 22.54% as it gained +8.65 at $47.03 on Wednesday. In the past 52-weeks of trading, this company’s stock has fluctuated between the low of $9.30 and a high of $42.30. IMAB has moved up 405.70% and 11.18% from its 52-weeks low and 52-weeks high, respectively. Looking at its liquidity, it has a current ratio of $1.50. I-Mab market capitalization has remained high, hitting $41.07 million at the time of writing.

    The company has earlier disclosed that the Center for Drug Evaluation (CDE) of the China National Medical Products Administration (NMPA) gave the green signal for the Investigational New Drug (IND) application for lemzoparlimab.

    lemzoparlimab is also known as TJC4 to start a phase 1 clinical trial in patients. Phase 1 clinical trial in the US has shown positive results. It is the highly differentiated anti-CD47 monoclonal antibody originally discovered and developed by I-Mab.

  • Sorrento Therapeutics Reports Data On STI-1499 And STI-2020 Neutralizing Antibodies Against SARS-CoV-2

    Sorrento Therapeutics Reports Data On STI-1499 And STI-2020 Neutralizing Antibodies Against SARS-CoV-2

    Sorrento Therapeutics, Inc. (NASDAQ: SRNE) announced today the result of COVI-GUARD™ (STI-1499) and COVI-AMG™ (STI-2020) neutralizing antibodies (nAbs) against SARS-CoV-2. Both the STI-1499 and STI-2020 antibodies have shown the neutralizing activities against SARS-CoV-2 virus infection in preclinical models.

    STI-1499 neutralizing antibody has earlier received the green signal from the FDA in the Phase 1 clinical trial in hospitalized COVID-19 patients. While the STI-2020 is a matured version of the COVI-GUARD neutralizing antibody and has shown a greater than 50-fold increase in potency in Invitro experiments. Both the neutralizing antibodies have demonstrated 100% In vitro neutralization of SARS-CoV-2.

    STI-1499 and STI-2020 nAb has shown the promising result in the pre-clinical studies. Hamsters that are infected with coronavirus when received the single dose of STI-2020 have gained within 48 hours after the injection of neutralizing antibodies. It has been disclosed that the 500 µg single dose of STI-2020 injected in hamsters in the preclinical studies would be equivalent to a human dose of less than 100 mg of antibody.

    As compared to other medical treatment for SAR-CoV-2, this antibody has shown very promising results at a low dose. Therefore, it is considered that the COVI-AMG could potentially be injected as a simple and rapid injection to treat COVID-19 patients. The company has earlier received FDA authorization for STI-1499 to treat hospitalization COVID-19 patient and the company is planning to submit IND for STI-2020 soon.

    Sorrento Therapeutics has also reported the positive Phase 1b trial data of resiniferatoxin (RTX). The data revealed that the RTX has not shown any negative safety signal as of September. The Phase 1b trial has been conducted to study the effectiveness of resiniferatoxin (RTX) for the treatment of moderate to severe pain due to osteoarthritis (OA) of the knee.

    The Phase 1b trial of RTX has shown the encouraging results and the company has now decided to start the Phase 2 clinical trial of an investigational drug product in 2020. It is expected that the Phase 3 clinical trial will start in 2021 after completing additional enabling preclinical studies.

    Sorrento Therapeutics, Inc. (NASDAQ: SRNE) shares were trading up 4.73% at $10.63 at the time of writing on Tuesday. Sorrento Therapeutics, Inc. share price went from a low point around $1.39 to briefly over $19.39 in the past 52 weeks. It has moved up 664.76% from its 52-weeks low and moved down -45.18% from its 52-weeks high. SRNE market cap has remained high, hitting $2.47 billion at the time of writing.

  • U.S. Energy Corp. (NASDAQ:USEG) Announces Asset Purchase Agreement

    U.S. Energy Corp. (NASDAQ:USEG) Announces Asset Purchase Agreement

    The U.S. Energy Corp. (NASDAQ: USEG) disclosed today that it has signed an Asset Purchase Agreement and executed the transaction to buy operated and non-operated producing assets. The acquired property located in Lea County, New Mexico, and Converse County, Wyoming. This acquisition is the second acquisition of U.S Energy in 2020.

    The acquired properties had total estimated proved reserves of approximately 237,263 Boe (63% oil), all of which are Proved Developed Producing reserves and had a present value of estimated future net revenues before income taxes discounted at 10% (PV10) value of approximately $2.5 million, as of August 1, 2020.

    The financial consideration paid at closing by  U.S. Energy included $500,000 in cash. U.S Energy Corp. has also revealed that the company entered into a $375,000 Secured Promissory Note with the largest shareholder of the Company, APEG Energy II, L.P. All the profits the company gained will be used in the current acquisition.

    U.S. Energy Corp. (NASDAQ: USEG) shares went up 0.70% as it gained +0.03 at $4.32 during the trading session of Monday. In the past 52-weeks of trading, this company’s stock fluctuated between the low range of $2.44 and a high range of $9.55. USEG has moved up 77.01% from its 52-weeks low and has moved down -54.76% from its 52-weeks high. This company market capitalization has remained high, hitting $6.05 million at the time of writing.

    The Properties, bought at an approximate 80% discount to their current PDP PV-10 reserve value, add reserves and immediate free cash flow, with operated acreage positions that are held by production to offer optionality for future opportunities. The Lea County, New Mexico assets comprise approximately 82% of total PDP volumes. While the Converse County, Wyoming assets include approximately 15% of total PDP volumes.