STOCKS TELEGRAPH

Category: Morning News

  • 3 Stocks to Watch This Morning As Hopes of a COVID-19 Vaccine Improves Market Sentiment

    3 Stocks to Watch This Morning As Hopes of a COVID-19 Vaccine Improves Market Sentiment

    The markets have regained renewed optimism and at yesterday’s close, the major indices were in the green. The S&P 500 closed higher by 0.65%, the Dow by 0.61%, and the NASDAQ by 0.71%. This follows increased hopes that there will be a COVID-19 vaccine by the end of the year. According to research by Deutsche Bank on the market sentiment of 500 market professionals worldwide, 56% of them are positive that there will be a vaccine before the end of 2020.  The sentiment is given weight by promising vaccine news from Oxford University.  The optimism around the markets has seen the value of biotech stocks working on COVID-19 vaccines rally. Most of the action in pre-market trading is happening around the following stocks.

    1. Immuron Limited [NASDAQ:IMRN]

    Immuron Limited [IMRN] is one of the top performers in pre-market trading and is up by 111.91% at the time of writing. This comes after IMRN announced that its IMM-124E, used for manufacturing digestive supplements, has been shown to have neutralizing activity against severe acute respiratory coronavirus-2.  Commenting on this development, the company CEO Dr. Dave Gentry stated that, they know SARS-CoV-2 is the cause of the influenza-like disease that affects the lungs. He added that the virus had been detected in anal swab tests even after in nasal-swab turned positive. This he added, offers leeway for an oral therapeutic approach that inhibits the virus in the gastrointestinal tract. As the world rushes to find a way out of the pandemic, this IMRN will continue to draw investor attention.

    1. Heat Biologics Inc [NASDAQ:HTBX]

    This is another active stock that is building upon its momentum in yesterday’s session. Heat Biologics Inc [HTBX] rallied to close with a gain of 47.15% yesterday and is up by 5% in pre-market trading. This comes after the company announced that the first patient had been treated in a phase-1 clinical trial test for PTX-35. This is the company’s antibody candidate for treating advanced solid tumors. HTBX stated that the trial would include 30 patients and would be testing for dosage and safety.  The trial is also well capitalized and has the support of a $15.2 million grant from the Cancer Prevention and Research Institute of Texas.  CEO, Jeff Wolf, stated that this trial was a first step towards advancing the clinical development of PTX-35. This is likely to play into this HTBX stock’s price action when the markets open.

    1. Miragen Therapeutics [NASDAQ:MGEN]

    Miragen Therapeutics [MGEN] is another big gainer in pre-market trading and is up by 21.57%. While there is no major news around MGEN at the moment, the stock is among those in the race for a COVID-19 vaccine.  A month ago, the company announced that it had received encouraging pre-clinical study for the treatment of idiopathic pulmonary fibrosis.

  • 3 Stocks to Watch as Market Sentiment Turns Positive

    3 Stocks to Watch as Market Sentiment Turns Positive

    The markets are in the green pre-market and all the major indices have recorded gains after a mixed performance on Thursday. The increased positive sentiment comes ahead of economic data on housing from the Commerce Department. It is expected that the data will show a recovery in the housing market in spite of the COVID-19 pandemic.  Individual stocks are performing well pre-market too, with some recording exponential gains.  Some of the biggest gainers in pre-market trading are:

    RumbleON Inc [NASDAQ: RMBL]

    This stock has recorded some strong gains pre-market and at one point was up by over 100%. At the moment, its gains are at 97.48%. This stock’s pre-market pump is driven by the company’s announcement that it had started its dealer-centric pilot program with CarGuru. Under the deal, CarGurus will use RumbleON’s technologies for its inventory acquisition product.  Commenting on the deal, RumbleON CEO, Marshall Chesrown stated that the company’s technology continues to serve many dealers. He added that the company’s agnostic approach to business had helped it grow fast and develop relationships in both the automotive and powersport markets. The deal points to a growing market share for RumbleON Inc and is playing into the stock’s price action at the moment.

    Houghton Mifflin Harcourt [NASDAQ: HMHC]

    Houghton Mifflin Harcourt is another top gainer ahead of market opening and is up by 22%. Its strong upside momentum comes hours after the company announced that it had started an online tool for teachers, to facilitate them during this COVID-19 period. Through this tool, the company will help teachers improve their skills, and also connect with other stakeholders in the education sector. The strong positive response that the stock has received in the market point to optimism that the new tool the company has launched has potential in the market. It will be interesting to see how this stock will play out in the day.

    Novavax Inc [NASDAQ: NVAX]

    This is another stock that is showing lots of potential ahead of market opening. The stock is up by 5.89% and gaining. This comes after the company announced that it was joining operation wrap speed. This is a program by the U.S government to help accelerate the development of a COVID-19 vaccine. By joining the program, Novavax will use federal money to complete the development of its COVID-19 vaccine called NVX-CoV2373.  The company will also use the money for its manufacture possibly before the end of 2020.

     

     

     

  • 3 Stocks to Watch This Morning Even As Major Indices Turn Negative

    3 Stocks to Watch This Morning Even As Major Indices Turn Negative

    Stock futures are down all across the board. This follows mixed earnings data from various sectors in yesterday’s session. The market is also awaiting economic data on the labor markets and on consumer spending. This data will be indicative of the impact of the COVID-19 pandemic on the economy, and the possible short-term direction of the equity markets. However, even under current conditions, there are stocks that are showing significant activity ahead of market opening, driven by upcoming earnings and a host of other factors. Some of the key stocks to watch are as below:

    Norwegian Cruise Line Holdings Ltd [NYSE: NCLH]

    This stock is quite volatile this morning, after a strong performance yesterday when it closed with gains of 20.68%. Its current activity is driven by news that the company is to offer $250 million in a share deal. According to MarketWatch, the deal will have Barclays, Goldman Sachs, JP Morgan, and Citigroup as book runners. Norwegian Cruise Line has stated that it will use the money for general corporate purposes. The news of the share deal comes at a time when the cruise ship industry has been hit hard by the COVID-19 pandemic.  It will be interesting to see how the market interprets this news when markets open. Data on labor and consumer spending could move the entire market and reinforce the direction of NCLH stock.

    MGM Resorts International [NYSE: MGM]

    MGM Resorts is another stock showing significant activity just as markets are about to open.  This follows the company’s announcement that it would be releasing its Q2 results on July 30th, 2020. The company is set for an active few weeks ahead as investors take positions ahead of its earnings report. In today’s session, MGM Resorts could also be affected by adverse movements in the main U.S indices that are already showing signs of weakness in early morning trading.

    Perrigo Company PLC [NYSE: PRGO]

    Perrigo Company PLC is another active stock with significant price action ahead of market opening. At the time of writing, the stock is up by a percentage, even while the key indices point towards a relatively bearish day. This stock’s activity is driven by yesterday’s announcement of its Q2 results on the 5th of August 2020. For the next few weeks, investors will be taking positions ahead of the earnings call, and this could add to the activity of this stock in the near-term.

     

  • 20 Trending Stocks in Entertainment Industry

    20 Trending Stocks in Entertainment Industry

    Roku Inc. (NASDAQ:ROKU) shares were trading up 0.87% at $150.36 at the time of writing on Tuesday.

    Roku Inc. (NASDAQ:ROKU) share price went from a low point around $58.22 to briefly over $176.55 in past 52 weeks, though shares have since pulled back to $150.36. ROKU market cap has remained high, hitting $17.74B at the time of writing, giving it price-to-sales ratio of more than 10.

    If we look at the recent analyst rating ROKU, Stephens downgraded coverage on ROKU shares with a Equal-weight rating and a $131.96 price target, which implies room for -18.4% downside momentum this year.

    Dolphin Entertainment Inc. (DLPN) last closed at $1.09, in a 52-week range of $0.33 to $2.49. Dolphin Entertainment Regains Compliance with Nasdaq Listing Rule 5250(c)(1). Analysts have a consensus price target of $1.70.

    The Marcus Corporation (MCS) stock drop by -1.48% to $14.68 after The Marcus Corporation Announces Second Quarter Fiscal 2020 Release Date and Conference Call. The most recent rating by B. Riley FBR, on July 06, 2020, is at a Buy.

    Netflix Inc. (NASDAQ:NFLX) Shares headed falling, lower as much as -0.12%. The most recent rating by UBS, on July 14, 2020, is at a Neutral.

    ViacomCBS Inc. (NASDAQ:VIAC) rose 2.28% after gaining more than $0.54 on Tuesday.

    The Walt Disney Company (DIS) last closed at $118.66, in a 52-week range of $79.07 to $153.41. Analysts have a consensus price target of $122.35.

    The Liberty Braves Group (BATRK) stock soar by 3.12% to $18.20. The Liberty Braves Group (NASDAQ:BATRA) Shares headed rising, higher as much as 2.77%. The most recent rating by The Benchmark Company, on December 17, 2019, is at a Buy.

    Eros International Plc (NYSE:EROS) fall -3.23% after losing more than -$0.11 on Tuesday.

    Live Nation Entertainment Inc. (LYV) last closed at $46.41, in a 52-week range of $21.70 to $76.60. Analysts have a consensus price target of $52.45.

    Charter Communications Inc. (CHTR) stock soar by 1.72% to $542.95. The most recent rating by Nomura, on July 10, 2020, is at a Buy.

    Comcast Corporation (NASDAQ:CMCSA) Shares headed rising, higher as much as 1.58%. The most recent rating by Bernstein, on July 01, 2020, is at an Outperform.

    MSG Networks Inc. (NYSE:MSGN) rose 1.01% after gaining more than $0.1 on Tuesday.

    WideOpenWest Inc. (WOW) last closed at $5.28, in a 52-week range of $2.95 to $8.12. Analysts have a consensus price target of $6.33.

    AMC Entertainment Holdings Inc. (AMC) stock drop by -0.94% to $4.22. The most recent rating by Credit Suisse, on June 29, 2020, is at an Underperform.

    Discovery Inc. (NASDAQ:DISCA) Shares headed rising, higher as much as 0.63%. The most recent rating by Goldman, on July 13, 2020, is at a Neutral.

    World Wrestling Entertainment Inc. (NYSE:WWE) rose 2.45% after gaining more than $1.09 on Tuesday.

    Liberty Broadband Corporation (LBRDK) last closed at $129.79, in a 52-week range of $86.20 to $140.00. Analysts have a consensus price target of $162.00.

    Liberty Broadband Corporation (LBRDA) stock incerased by 2.28% to $127.22. The most recent rating by TD Securities, on March 23, 2020, is at a Buy.

    Cinemark Holdings Inc. (NYSE:CNK) Shares headed falling, lower as much as -2.76%. The most recent rating by Credit Suisse, on June 29, 2020, is at a Neutral.

  • 3 NASDAQ Stocks That Are Pumping Even As the Index Stumbles

    3 NASDAQ Stocks That Are Pumping Even As the Index Stumbles

    It’s a mixed bag in the U.S markets today. The Dow Jones and the S&P 500 have gained, while the NASDAQ has declined. The S&P 500 and the Dow’s gains are driven by a recovery in energy stocks and strong earnings in the finance sector, with JP Morgan leading the way with strong quarterly earnings. The NASDAQ’s drop is mainly due to the underperformance of the big tech stocks in the early morning session. However, even as the NASDAQ lags, certain stocks within it and performing very well today. Some of the biggest winners currently are COVID-19 related stocks. Narrowing down, below are some of the best performers in this session.

    IMV Inc [NASDAQ:IMV]

    Though volatile, this stock is a top performer in mid-morning trading, and is up by 51.67%. This comes after the company’s announcement that it had made rapid progress in the development of a COVID-19 vaccine. The company said that it was working with regulators to start clinical trials in the quickest time possible.  It further added that as per its agreement with Health Canada, the first phase clinical study will be randomized and aims to check the immunogenicity and safety for its vaccine called DPX-COVID-19. Given the fact that the whole world is looking forward to a cure or a vaccine for COVID-19, breakthrough on this front could see this stock gain significantly in the foreseeable future.

    Rigel Pharmaceuticals Inc [NASDAQ:RIGL]

    Rigel Pharmaceuticals Inc is another top gainer in the current session and is up by 64.35%. This follows news that a drug that is used for treating autoimmune disorders will be tested in the U.K for treating COVID-19 pneumonia.  The company further stated that the Imperial College London will do an open-label trial for the treatment called Tavalisse. Like other COVID-19 related stocks, a breakthrough on this front could see the stock rally in the foreseeable future.

    Perceptron Inc [NASDAQ:PRCP]

    Perceptron is in a strong rally at the moment, and at the time of writing, it was up by107.82%. The stock’s strong performance follows news that the company has received new order support for its upcoming electric vehicle.  Global Newswire has reported that a Tier-1 auto supplier has selected the company’s in-line measurement technology for its battery frame, lid, and compartment measurements in an upcoming EV launch. Commenting on the deal, Perceptron’s Vice President John Kearney said that the order was the first major order the company has received from a global tier-1 supplier.  He added that in recent times, the company has recorded an increase in demand as auto OEMs seek out ways to streamline their operations. With growing demand and now the entry of a tier-1 supplier, this stock will be on investor’s radar for the foreseeable future.

  • Pre Market Report: Stock Watch Ahead Of U.S Markets Opening

    Pre Market Report: Stock Watch Ahead Of U.S Markets Opening

    U.S markets are showing signs of a rebound after a weak showing in Monday’s session. Nonetheless, market sentiment remains mixed. On the downside, there are fears that the economy could be headed for another shutdown as the coronavirus numbers continue to rise. States like California are slowing down on reopening to curtail the virus spread. There are also concerns about equities being overpriced. Most companies have taken a hit in their revenues, yet the stock market has rallied back to pre-crisis levels. This indicates a disconnect between stock market valuations and corporate performance. On the positive side, the U.S government appears ready to keep supporting the economy. Today, The New York Times has reported that the Trump administration is calling for a payroll tax cut, relief for distressed industries, and a tax holiday on capital gains. The New York Times further states that the next stimulus could be between $1 trillion to $3 trillion. While this adds to the already ballooning deficit, it offers critical support to the economy, and more specifically the equity markets.  In spite of the mixed outlook, there are stocks that are on a roll pre-market and could perform well in the day. Some of them are as below.

    Tesla [NASDAQ: TLSA]

    Tesla continues its stellar performance and is up by over 6% pre-market. The stock has been on an exponential growth path driven by its sales numbers, and a growing appetite for stocks in the market. Tesla recently announced that in Q2, it had delivered 90,650 units, beating its estimates of 74,130 units.  Some analysts believe that this points to growing demand for the company’s vehicles, which is playing to support its stock price. A JP Morgan recently stated that Tesla was now set to break even on GAAP in Q2, a factor that is changing the market’s risk evaluation of the stock. With such optimism at play, TLSA could continue its rally if the market opens in positive territory.

    INmune Bio Inc [NASDAQ: INMB]

    INmune Bio is another big mover pre-market and is up by 142.82% at the time of writing. The rally comes hours after the company released interim data showing that its treatment called XPro1595 reduces neuroinflammation in people suffering from Alzheimer’s disease. XPro1595 is an inhibitor for tumor necrosis factor that neutralizes soluble TNF, and with implications on the pathology of Alzheimer’s. Commenting on the results, the company’s director of neuroscience, CJ Barnum stated that they were happy with the findings. The response the stock has received pre-market shows that investors are optimistic that this could be a major breakthrough not just for Alzheimer’s patients, but also for the company’s bottom-line.

    ElectroCore Inc [NADAQ: ECOR]

    ElectroCore was a top gainer in yesterday’s session and closed with gains of 109.41%. The stock seems poised to continue this rally and is up by 6% in pre-market trading. The upside momentum is driven by the company’s announcement that it had received emergency use authorization from the FDA for its COVID-19 treatment.  The company stated that it was now working on making its new therapy available to medics treating COVID-19 patients that have asthma and other breathing difficulties,