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Category: Morning News

  • Top 3 Pre-Market Performers as Strong Earnings in Europe Lift Optimism in the Equity Markets

    Top 3 Pre-Market Performers as Strong Earnings in Europe Lift Optimism in the Equity Markets

    There is high optimism in the equity markets this morning driven by progress on economic bailout talks, and strong earnings by corporations across the Atlantic. Yesterday Democratic Senate Minority Leader Chuck Schumer stated that while they were still far off from a deal, they were still going.

    Across the Atlantic in Europe, several corporations have reported positive earnings with several others raising their outlook for the year. This points to the resilience of the global markets even as the COVID-19 pandemic continues to bite, and is a key factor to stock markets optimism.  Markets are also being supported by the upcoming trade discussions on August 15th between the U.S and China.  In this environment of improved market sentiment, here are some of the biggest gainers ahead of markets opening:

    Aerpio Pharmaceuticals Inc [NASDAQ:ARPO]

    Aerpio Pharmaceuticals Inc is a top performer this morning and is up by over 50%. The stock’s rally follows the company’s announcement of the 2nd clinical trial that will help test Razuprotafib in treating ARDS in people with mild to severe COVID-19.  The clinical trial is part of the MTEC-20-09-COVID-19 Treatment Military Infectious Disease Research Program (MIDRP).  The company announced that as a facilitation for the program, it will receive $5.1 million from MTEC. On its part, Aerpio stated that it would support the program with $2.8 million.

    MicroVision Inc [NASDAQ:MVIS]

    MicroVision is another top performer this morning and is up by over 16% in pre-market trading. The stock’s rally follows news that the company could be up for a buyout. According to the Motley Fool, CEO Sumit Sharma stated that they were considering offers from major companies in the auto and augmented reality industry.  While the CEO did not offer details on the amount being offered, analysts project that it could be close to the company’s present market cap. This seems to have excited the market if the stock’s pre-market price action is anything to go by.

    Acorda Therapeutics Inc [NASDAQ:ACOR]

    Acorda is another top performer pre-market and is currently up by 26%. The rally follows the release of Q2 results that beat analysts’ expectations.  The analyst consensus was an EPS loss of 0.46, while the company reported an EPS loss of $0.35. The company’s EPS loss also represented an improvement compared to the last financial year when its loss per share was $0.55.  The company attributed this improvement to a 7% increase in net sales, despite the challenges posed by the COVID-19 pandemic.

     

  • Stocks to Watch as Increasing COVID-19 Numbers Dampen Market Sentiment

    Stocks to Watch as Increasing COVID-19 Numbers Dampen Market Sentiment

    The markets are headed for a weak start this Tuesday. This follows news of a resurgence in COVID-19 numbers in the EU, the U. S and across the world. Already, Melbourne, Australia’s second-largest city is back in lockdown.  Another spike in COVID-19 cases could dampen hopes of a global economic reopening, and further, put a strain on the economy.

    The markets are also facing uncertainty due to the stalemate between democrats and republicans on the economic bailout. While Democrats have indicated that they are close to a deal with the Whitehouse, it is still uncertain of when such a deal will materialize due to a disagreement on the employment benefits extension. Despite this environment of a mixed outlook, there are stocks doing well pre-market mainly due to strong quarterly results. Some of the biggest performers ahead of markets opening are:

    Alterity Therapeutics Limited [NASDAQ:ATHE]

    Alterity Therapeutics Limited is one of the top performers pre-market and is up by over 200%. This comes after the company announced that it had got positive data for its MSA drug on animal testing. The company reported that data from Dr. Nadia Stefanova’s laboratory showed that ATH434 reduced a-synuclein pathology, and also led to improved motor performance.

    ATH434 is being developed as a treatment of Parkinson’s disease and MSA.  The research showed that the treatment was well-tolerated and showed effectiveness in a predictive animal model. Commenting on the research Alterity’s Chief Medical Officer, Dr. David Stamler stated that the animal testing data supports positive safety and pharmacokinetic clinical data that the company has released. This is a big deal and could see the stock rally all through the day.

    Danos Corporation [NYSE:DAC]

    Danos Corporation is another top performer pre-market and is up by 26%. This follows the company’s strong Q2 results.  The company reported an EPS of $1.71, slightly higher than the analyst consensus of $1.42. The company reported that its operating income increased to $116.8 million compared to $112.3 million in Q2 of 2019.

    The company stated that it was moving forward with its growth strategy and that it was cushioned from the market volatility. In its statement, the company also added that it was fully committed to technological innovation in a bid to satisfy its customers. As its strong quarterly results filter into the market, it could open the day in the green.

    Ossen Innovation Co Ltd [NASDAQ:OSN]

    Ossen Innovation Co is another top performer this morning and is up by 21% in pre-market trading.  There is no major news around this company at the moment, which makes it price action-driven. The stock has been gaining steadily, with volumes rising. This rally could be a breakout on a surge in volumes.

  • Stocks to Watch as Corporates Raise Estimates for Q3

    Stocks to Watch as Corporates Raise Estimates for Q3

    It’s a good start for the markets today. According to data by Factset, big companies raised their Q3 estimates by 1.1% in July. Historically, companies usually cut their estimates at the start of the quarter, which makes the current move an exception.  Data shows that in the past 5-years, the average decline in bottom-up earnings per share at the start of a quarter is 2.8%. The increased estimates point to higher confidence in the corporate world that the economy could be getting better. That’s because such numbers mean that stocks are fairly priced and that there is room for growth.  Putting this in the context of the wider market, the higher estimates are related to the government’s move to support the economy through the CARES Act. In this environment of increased optimism, a number of stocks have gained significant upside momentum in early morning trading. Some of the biggest gainers pre-market are as below:

    Vislink Technologies Inc [NASDAQ:VISL]

    This stock is on a roll pre-market and is up by over 500%. This rally is driven by two key factors. The first one is the increased optimism in the market, as shown by the higher quarterly estimates. Secondly, is the company’s reverse 6-1 stock split. The stock split will come into effect today under number 92836Y 300.  CEO, Mickey Miller stated that they had made major progress in turning around operations by bringing in new leadership. He added that the stock split is a step towards keeping its listing on the NASDAQ and continued value growth.

    Highway Holdings Limited [NASDAQ:HIHO]

    Highway Holdings Limited is another top performer pre-market and is up by over 100%. This is largely momentum-driven as there is no major news happening around this company at the moment. Late last week, the company announced that it was delaying the release of 2020 financial results due to the COVID-19 pandemic. However, the company stated that the delay will not impact its ability to file proxy statements and it’s AGM that will take place in October. Going by its current momentum, a positive start to the markets could see it make significant gains in the day.

    Immunic Inc [NASDAQ:IMUX]

    Immunic Inc is another top performer pre-market and is up by over 30%. Its momentum is driven by news of positive top-line data from the phase 2 study of EMPHASIS trial for its treatment called IMU-838. The study showed that the treatment met its primary endpoints in safety and tolerance. Besides positive treatment data, the company reported Q2 results that show that it in the quarter, it had cash and cash equivalents of $48.6 million.

  • Top Gainers Pre-Market as Big Tech Uplifts Markets

    Top Gainers Pre-Market as Big Tech Uplifts Markets

    It’s a good day for the markets today, with all the key indices in the green. This follows strong quarterly results by big tech companies. Facebook announced that revenues in the quarter grew by 11% an indication of the resilience of its business despite the COVID-19 pandemic.

    On its part, Alphabet beat analysts’ top and bottom-line estimates despite a drop in its ad revenues, when compared to a year ago. Apple reported that it had revenues of $59.7 billion in Q2, beating estimates by $7 billion. The biggest winner among the big tech stocks is Amazon. The company reported that it had doubled its income in Q2 when compared to a similar quarter in the last financial year. Amazon has benefited immensely from increased spending on its e-commerce platform during the pandemic. Besides big tech, there are a number of other companies that are doing well ahead of market opening.

    Pinterest Inc [NYSE:PINS]

    Pinterest Inc is one of the top gainers pre-market and is up by over 30%.  This comes after the company announced strong Q2 earnings that beat analyst expectations. The company reported that the number of users increased in Q2 by 39% to hit 416 million, against analyst expectations of 372.7 million. The company attributed the jump in user numbers to the stay-at-home orders that have forced people to spend more time on social media for family and business connections. In terms of revenues, the company reported that there was an increase of 4% to $272 million, while analysts were expecting revenues of $251.2 million.

    Under Armor Inc [NYSE:UA]

    Under Armor, Inc is one of the top gainers this morning and is up by over 10% pre-market. This comes after the company announced better than expected Q2 results. While the company reported a decline in revenues due to the COVID-19 pandemic, gross margins rose by 280 points to hit 49.3% when compared to a similar quarter last year. The company reported a 15% drop in administrative expenses. The company’s management stated the results were impressive when put in the context of the current pandemic.

    Altice USA Inc [NYSE:ATUS]

    Altice USA Inc is another top performer this morning and is up by over 5% after it reported strong Q2 results. The company reported that total revenues grew by 1% to hit $2. 47 billion. It also reported that net income attributable to shareholders increased to $111 million compared to a similar quarter in 2019.  The company further reported that free cash flows increased by 49.8% compared to a similar quarter in 2019.

  • Weak Economic Data Dampens Markets, But There Are Winners

    The markets have opened lower today, amidst weak economic numbers in the U.S. Data shows that the U.S GDP dropped by 32% in the last quarter. The number of jobless people also shot up indicating a weakening of the labor markets According to the Commerce Department, there was a spike in the country’s jobless numbers in the past week, indicating that the economy is slowing down again especially in the Western and Southern States. The mood is further dampened by the Federal Reserve’s observation that the increasing numbers of coronavirus cases could slow down the rate of economic recovery. Nonetheless, there are stocks that are performing well in the current environment driven mainly by earnings. Some of the stocks that are doing well this morning and have been performing well since early morning. Some of the early morning top performers are as below:

    Qualcomm Incorporated [NASDAQ: QCOM]

    QUALCOMM has been one of the top performers in early morning trading.  The stock’s strong performance follows the company’s announcement that it had entered into a $1.8 billion licensing deal with Huawei. The terms of the agreement include licensing rights to some Huawei patents. Through the deal, Qualcomm expects to make about $1.8 billion and the deal will start on January 1st. Besides news on the Huawei deal, the company offered guidance for its Q4 earnings. It stated that it expects revenues of between $5.5 billion and $6.3 billion in Q4.  It also added that it expects an EPS of between $1.05 and $1.25. The results also touched on its 5G rollout stating that it was starting to realize benefits from the investment and that it was fully embracing the challenges that 5G presents.

    Apache Corporation [NASDAQ: APA]

    Apache Corporation is another big gainer this morning and has been gaining from the early morning. Its strong upside momentum comes after it announced strong Q2 results. The company reported that it had a diluted EPS of $1.02 and a loss of $218 million. The company’s CEO stated that its offshore exploration program was a success. The company also announced that it had made a major discovery at Kwaakwasi-1, and more success in its block-58.

    Hologic Inc [NASDAQ: HOLX]

    Hologic Inc is another top performer this morning and has been in the green since pre-market. This comes after the company announced better than expected Q3 results. The company announced that its revenues grew by 8% to hit $822.9 million, or an EPS of $0.75. The company stated that the strong performance was driven by increased demand for its COVID-19 test kits. It is for the same reason that the company expects strong performance in the coming quarters.

  • Top Performers Markets Awaits News from Congress and the Federal Reserve

    Top Performers Markets Awaits News from Congress and the Federal Reserve

    The markets are in uncertain territory this morning as they await direction on the stimulus package from Congress and monetary policy direction from the Fed. On the bailout issue, the markets will be looking for a hint on a compromise between Democrats and Republicans.

    One key event that is heavily watched is a hearing between the CEOs of major tech companies and the House Judiciary Committee.  As for the  Federal Reserve, the market is looking forward to Jerome Powell’s press conference that will happen in the early afternoon at 2:30 p.m. Eastern Time. The market is likely to remain undecided until these two events happen. Nonetheless, there are stocks that are already in the green in pre-market trading. Some of the biggest gainers are as below:

    L-Brands Inc [NYSE:LB]

    L-Brands is one of the top gainers in pre-market trading and is up 18.14%. This follows the company’s announcement that it was cutting costs to the tune of $400 million. The company stated that it was spinning off the struggling Victoria’s Secret business from the well-performing Bath & Body Works business. The company added that it would cut costs through a plan aimed at increasing the profits of Victoria’s Secret. The company also aims to achieve this by decentralizing and better streamlining corporate functions. From its plans, the company expects to cut about $175 million in 2020.  The company CEO added that they had made massive progress on this front in Q2.

    FireEye Inc [NASDAQ:FEYE]

    This is another top performer pre-market and is up 14%.  This came after the company released better than expected Q2 results. The company announced that revenue in Q2 stood at $230 million representing an increase of $15 million compared to the guidance it had offered earlier.

    The company added that it had a year-over-year increase of 30% driven by its cloud services and managed services. The CEO stated that they were happy to record the 9th quarter of growing revenues in the company’s subscription services. The CEO also added that Q2 was the 3rd quarter that the company had recorded services revenue growth by over $50 million. The company also added that its intelligence threats business grew by 27%.

    Advanced Micro-Devices Inc [NASDAQ:AMD]

    Advanced Micro-Devices is gaining pre-market and is up by 11% at the time of writing. This comes after the company released Q2 results that beat analyst expectations. The company has reported that in Q2, revenues grew by 26% hit $1.93 billion compared to a year earlier. The company has attributed its growth to strong demand for chips by PC makers and data centers. As the news filters into the market, this stock could be a top performer in the day.

  • High Potential Stocks Today Even As Bailout Talks Bog Down Markets

    High Potential Stocks Today Even As Bailout Talks Bog Down Markets

    It’s a mixed day for the U.S stock markets as investors await progress on a possible $1 trillion bailout for the U.S economy. Yesterday after the close of trading, senate majority leader Mitch McConnell announced the HEALS Act. This is a new stimulus bill that aims to cushion vulnerable Americans from the adverse effects of the COVID-19 pandemic.

    Part of the bill is a $1200 direct check payments, and an extension of the enhanced employment assistance. The markets will be watching to see if republicans and democrats can arrive at a compromise with regards to the bailout. If there are no signs of consensus, there is a likelihood of the markets easing some of the gains made recently.  Despite the dampened mood and increased volatility in the markets, there are a few stocks that have made a strong showing in pre-market trading. Some of the big winners are as below:

    OneMain Holdings Inc [NASDAQ:OMF]

    OneMain Holdings is among the stocks that are in the green in pre-market trading. This follows the company’s release of impressive Q2 results. While there was a drop in net income when compared to Q2 of 2019, the company managed to record an impressive Q2 net income of $118 million.  Even more impressive is that the company announced a dividend of $2.33 per share that will be payable on August 10th, 2020. Commenting on the results, CEO Doug Shulman stated that the company continues to focus on its core business strengths to drive growth. He added that it was navigating the current tough business environment through complex underwriting, a strong balance sheet, and a hybrid operating model.

    Polaris Inc [NYSE:PII]

    This is another stock showing signs of strength premarket and is up by 5%.  This comes after the company released its Q2 financial results that pointed to a growth in North American sales.  The company attributed this to a 57% increase in the sales of ORV and motorbikes.  The company also reported that dealer inventory declined by 47%, driven by the increased sales, and lower shipments due to the COVID-19 pandemic. The CEO noted that they were impressed with the company’s resilience despite the near shutdown of the company’s U.S dealerships.   From the stock’s performance, it is clear that the market is impressed with the results.

    Viasat Inc [NASDAQ:VSAT]

    Viasat Inc is another stock showing strength this morning. This follows yesterday’s announcement that the company’s announcement that it had equipped Bombardier Challenger jets with its Ka-Band service. The company added that the move would see it strengthen productivity and improve the customer experience. Bombardier Challenger business jets customers will now have access to high-capacity Ka-band satellites. This is a big deal and could see it keep gaining when markets open.

     

  • Top Stocks to Watch as Market Sentiment Turns Positive on Bailout Hopes

    Top Stocks to Watch as Market Sentiment Turns Positive on Bailout Hopes

    The main stock indices are up in early morning trading and there is a probability that they could trade in positive territory when markets open. The positive momentum is drive by news of a possible stimulus to bail out the economy.  Last week, republicans indicated that they were considering additional spending of $1 trillion to save the economy from the effects of the pandemic.

    According to the Whitehouse economic advisor, Larry Kudlow, a new bill could be presented before congress and will include the disbursement of about $1200 checks to Americans that fall under some income thresholds. The market expects that a stimulus package will help cushion the population and businesses, and by extension, the stability of the equity markets.

    Another factor holding up the market today is corporate earnings by some major corporations. The market is expectant that positive earnings news could point to underlying strength in the market. Even as the market remains speculative in pre-market trading, there are stocks that are already recording some massive gains ahead of market opening and could record some even stronger gains when markets open. Some of the biggest gainers pre-market are as below:

    Wilhelmina International Inc [NASDAQ:WHLM]

    This is one of the biggest gainers in pre-market trading and is currently up by over 100%. There isn’t much news around this stock at the moment, which makes its rally purely a price action move. The stock had been trading in a range for months but broke out on Friday to hit a high of over $7. While it rescinded before market close, this was a signal that buying momentum was on the rise, triggering the current price action. Given the positive sentiment in the overall market at this point, there is a likelihood of this stock sustaining its current positive price action when markets open.

    Sunesis Pharmaceuticals Inc [NASDAQ:SNSS]

    Sunesis Pharmaceuticals is another top mover pre-market and is up by over 20%. Like WHLM, there is nothing much going around this stock at the moment. The last time the company had any major news was 3 weeks ago when it announced that it was cutting some of its workforces to focus most of its resources on PDK1 inhibitor SNS-510. From its current price action, traders will be looking at its volumes for direction. High volumes could see it sustain its pre-market price action all through the day.

    Marathon Patent Group Inc [NASDAQ:MARA]

    This is another top performer pre-market and is currently up by over 30%. The rally comes just days after the company announced the pricing of its $6 million IPO.  The company announced that it intends to use the money to fund the expansion of its operations. With no major news this morning, volumes will play a key role in its price action.

  • Top Stocks to Watch Today as Retail Bankruptcies Dampen Outlook

    Top Stocks to Watch Today as Retail Bankruptcies Dampen Outlook

    It’s a mixed day ahead for the U.S equity markets, as the full effects of the coronavirus begin to take effect. The number of permanent job losses in the restaurant market is on the rise, pointing to more pain for the U.S labor market. The number of retail bankruptcies is on the rise too. The Wall Street Journal has reported that the number of bankruptcies is rising faster than many analysts had anticipated. However, even in this environment, there are stocks that are on the rise ahead of markets. The biggest gainers in the current market are mainly in the biotech and energy sectors and are driven by product developments and strong earnings by various industry players. Some of the big players ahead of markets are as below:

    Entera Bio Ltd [NASDAQ:ENTX]

    This is one of the top gainers in pre-market trading and is up by 81% at the time of writing. It’s strong upside momentum after the company announced that it had recorded positive results on its market survey for oral results.  The company has stated that about 85% of clinicians that took part in the survey said they would prescribe PTH in the treatment of moderate and even severe osteoporosis. This is a big deal because PTH can be used to handle the unmet needs that include the improvement of patient comfort. For Entera Bio Ltd, this means that there is a potential to grow in the multibillion-dollar global market focused on the treatment of Osteoporosis. The exposure on market potential by this survey has excited the market and given this stock a renewed optimism.

    Helix Energy Solutions Group Inc [NASDAQ:HLX]

    Helix  Energy Solutions is another top gainer pre-market and is up by 24.51%. The stock’s rally following the release of strong Q2 earnings that beat analysts’ expectations. The company reported an EPS of $0.04 beating analyst expectations of an EPS loss of $0.02.  The company’s revenues also rose to $199.15 million in the quarter, beating analyst expectations by 14.67%. This points to a strengthening of the company’s position in the market.

    Liquid Media Group Ltd [NASDAQ:YVR]

    Liquid Media Group Ltd is another top performer pre-market and is up by 80%. This comes after the company’s announcement that it had partnered with two digital agencies with the goal of transforming its streaming platform. It will be interesting to see how news of the partnership plays out in its price action when markets open.

  • 3 Top Performing Stocks to Watch This Morning: Biotech and Energy Stocks Lead the Way

    3 Top Performing Stocks to Watch This Morning: Biotech and Energy Stocks Lead the Way

    The key stock market indices are down today as the market awaits earnings news and the growing tensions between the U.S and China. Today, China has made a statement against the U.S decision to close the Chinese consulate in Houston, stating that it would take countermeasures against the move by the U.S. The flare-up of tensions between the two countries amidst an ongoing pandemic is reeling the markets. Nonetheless, there are stocks that are gaining strongly ahead of market opening. Most of the big movers pre-market are biotech and energy stocks. Some of the big movers at the moment are as below:

    Bionano Genomics Inc [NASDAQ:BNGO]

    Bionano Genomics Inc [BNGO] is a big mover pre-market and is up by 18% and gaining. BNGO stock has been gaining momentum driven by two recent developments on its biotech projects. Yesterday, Bionano Genomics Inc announced that an international consortium spearheaded by Laila El Khattabi of the Cochin Hospital in France had published a paper touching on the use of Bionano’s Saphyr Genome Imaging instrument. This was with regard to testing the performance of Bionano’s data when compared to the cytogenetic standard of care in the treatment of inherited genetic disorders. The team found that Bionano’s Saphyr was able to detect all; chromosomal aberrations in a total of 85 samples. The positive news came just a few days after BNGO announced that its data is a key part of the first-ever full assembly of a human being’s X-chromosome.  With such positive developments, the momentum around BNGO stock is on the rise even as the rest of the market looks shaky ahead of Mid-week trading.

    Zomedica Pharmaceuticals Corp [NYSE:ZOM]

    Zomedica Pharmaceuticals Corp [ZOM] is another top performer in pre-market trading and is up by 16% at the moment. This follows the ZOM announcement that it had successfully installed TRUFORMA™ remotely. This is a point-of-care diagnostic device that has allowed the company to go ahead with test validation. The  CEO has stated that ZOM is focused on making TRUFORMA™ available in the market soon.

    TransAtlantic Petroleum Ltd [NYSE:TAT]

    This is another top gainer ahead of market opening and is up by 78% pre-market. TransAtlantic Petroleum Ltd [TAT] has been on the rise since it reported financial results for Q1 of 2020. TransAtlantic Petroleum Ltd reported that revenues were down due to the decrease in oil prices. It also added that its hedge at the time was for an oil price of $36 a barrel. Like most energy prices, TAT stock has been buoyed by the increase in oil prices, and its current price action is among the best in the market. Its strong position is also driven by the fact that it was in good cash flow even during the time when oil was at its lowest.