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Tag: Mid day movers

  • Best Performing Stocks amidst Mixed Sentiment

    Best Performing Stocks amidst Mixed Sentiment

    The markets are mixed this afternoon. The S&P 500 is hovering between positive and negative territory after testing pre-COVID-19 levels earlier in the day. The price action reflects the sentiment in the market at the moment. On one hand, investors are looking forward to stronger markets after proving to be resilient all through the pandemic.

    On the other hand, there are real fears that the markets could be overvalued, especially when considering the weak economic data that has come out recently. This may also explain the rise of the NASDAQ today. This index is tech-heavy and investors have been getting into these stocks for their quality. A company like Amazon is dominant in its industry and is well-capitalized, making it a high potential stock under the current economic environment. The same can be said of the other big tech stocks. In this environment of mixed sentiment, there are stocks that are doing extremely well. Some of the top performers this afternoon are:

    RISE Education Cayman Ltd [NASDAQ: REDU]

    RISE Education is on the rise this afternoon and is up by 56%. This follows the company’s announcement of strong Q2 results. The company stated that in Q2, it continued with the investments that it started in Q2. The CEO stated some of the investments that they continued in Q2  were in human development. The company continued to hire highly talented people and was specifically targeting people with strong tech skills. The  CEO  further stated that its franchise learning centers restarted most of their operations in the quarter and that they were now operating at 92%  of their operations. The company further added that its revenues had increased by 111.7% in the quarter This was driven by the phased reopening of its franchise learning centers. The company also reported that its marketing revenues, reduced in the quarter mainly due to better utilization of staff.

    Aduro Biotech Inc [NASDAQ: ADRO]

    Aduro Biotech is another top performer this afternoon and is up by 28%.  This is mainly price action at play. The stock has been trading in a range for weeks now and was bond to break out in any direction.  The upside breakout on high volumes points to a stock that is picking up as optimism in the equity markets rise. Given the strong performance of biotech stocks recently, this stock could see its value keep growing.

    GrowGeneration Corp [NASDAQ: GRWG]

    GrowGeneration Corp is another top performer today after releasing strong Q2 results. The company announced that in Q2,, revenues increased by `123%  compared to a similar quarter in Q2 of 2019. Gross profits also increased by 99% in the quarter when compared to Q2 of 2019. These strong metrics could give this stock upside momentum throughout the week.

  • Top Performing Stocks as Markets Rally Back to Pre-COVID-19 Levels

    Top Performing Stocks as Markets Rally Back to Pre-COVID-19 Levels

    This afternoon, the markets are up, in a continuation of the trend that started earlier in the day. The S&P 500 has in the last few hours retested its February highs. This follows increased optimism that the U.S could be returning to pre-crisis normalcy. The optimism is twofold. On one hand, biopharma has over the past month hinted to a vaccine coming soon.

    Russia has already approved its vaccine which makes such a possibility come even closer. There is also the fact that States that were most affected by the pandemic are starting to reopen. Today, the governor of New York has announced that gyms can reopen provided that they do so in a restricted manner. This increased optimism in the markets has seen stocks that have shown resilience during the pandemic rally. Such stocks are likely to show more strength as normalcy returns. Most of them have reported strong Q2 results. Among the top performers this afternoon are as below:

    Lifeway Foods Inc [NASDAQ: LWAY]

    Lifeway Foods Inc is a top gainer this afternoon and is up by 23%. This follows the release of strong Q2 results. The company reported an 8% increase in net sales when compared with a similar quarter in Q2 of 2019. The gross profits as a percentage of net sales also increased by 410 points from 23.6% in 2019, to 27.7% in Q2 of 2020.

    The company attributed this to better milk prices during the COVID-19 period. Commenting on the results, CEO Julie Smolyansky stated the company had benefited from strong consumer demand both through the company’s e-commerce and retail. The CEO also added that the results also pointed to the company’s strength and resilience despite the pandemic. The CEO also added that the company will continue to meet clients’ needs. As overall market sentiment improves, this stock will be in a position to keep gaining.

    Altisource Asset Management Corporation [NYSE: AAMC]

    This is another top performer this afternoon and is up by 30%. This upside momentum follows the company’s release of strong Q2 results. The company announced that rental income from its front yards stood at $55.1 million, or a year-on-year increase of 6.9%.

    The company also announced that it had successfully negotiated an agreement with Front Yard in a $54 million deal. Commenting on the results, CEO Indroneel Chatterjee said that the company was happy with the performance so far. He added that the company had made progress in the design of the business to take advantage of the emergent opportunities. This is likely to see it keep gaining in the near-term.

     

  • 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.

     

     

  • 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.

     

  • 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.

     

  • 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.

  • 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.

  • Top Stock Performers as Markets Rebound On Improved Jobless Numbers

    Top Stock Performers as Markets Rebound On Improved Jobless Numbers

    The stock markets are up this afternoon after a slow start earlier in the day. This follows the release of data pointing to better than expected jobless numbers and the continued talks on an economic stimulus. According to a report by the Labor Department, new jobless numbers dropped to a low of $1.19 million.  Nonetheless, the unemployed numbers still held above the 1 million mark for 20 weeks in a row.

    This points to a mixed picture of the economy when also combined with the weak private employment data that came out yesterday. Even in this environment of mixed outlook, the market is boosted by hopes of a deal in Washington with regards to an economic bailout. In this environment of cautious optimism, several stocks are doing better than the average. Some of the top performers this afternoon are as below:

    Denali Therapeutics Inc [NASDAQ:DNLI]

    Denali Therapeutics Inc is a top performer this afternoon and is up by 37.26%.  This follows the company’s announcement that it had struck a billion-dollar collaboration on a treatment for Parkinson’s disease. The company stated that it had entered into a deal with drug company Biogen. Under the deal, Biogen will commit over $1 billion towards the drug.  Through the deal, Biogen will take an 11% stake in Denali or $13.3 million priced at $34.94. Commenting on the deal, Biogen CEO Michel Vounatsos stated that their collaboration with Denali was an opportunity to come up with a top-of-the-range therapy that could slow down Parkinson’s disease.

    American Virtual Cloud Technologies Inc [NASDAQ:AVCT]

    American Virtual Cloud Technologies Inc is another top performer this afternoon and is up by over 60%.  This follows the company’s announcement that it was purchasing Ribbons Kandy communications business. Yesterday, the two companies stated that the deal would be an all-stock transaction.

    AVC Technologies CEO stated that they were happy with the acquisition as it was a major step in the company’s bid to offer its clients better cloud solutions. Darrell further stated that as a company, they felt lucky to have bought Kandy, a business that had created one of the world’s best cloud communications platform.  The company’s Chief Operating Officer weighed in on the issue stating that the purchase would speed up the company’s growth strategy of working towards establishing a foothold in the cloud communications market.

    AdiTx Therapeutics Inc [NASDAQ:ADTX]

    This is another top performer this afternoon and is up by over 100%. This comes after the company announced that it had introduced AditxtScore™ for detecting antibodies that can fight antigens linked to SARS-COV-2. Commenting on this development, Stanford Blood Center CEO Harpreet Sandhu stated that this could transform the fight against COVID-19 by offering fast and accurate test results. From the stock’s price action, the market is excited too.

  • Top Performers as Covid-19 Vaccine Progress Uplifts Markets

    Top Performers as Covid-19 Vaccine Progress Uplifts Markets

    The equity markets are up this afternoon with all the major indices recording strong upside momentum.  This follows a series of updates from biopharma companies about progress on COVID-19 vaccine development and distribution.

    Today, Johnson and Johnson has stated that it had struck a deal with the U.S government for the manufacture and distribution of 100 million of its COVID-19 vaccines. At the same time, Moderna, which has been on the frontline in the race for a vaccine has given more details on the pricing plans for their vaccine. The company’s CEO, Stephane Bancel, has stated that the doses would go for between $32 and $37.  This news on COVID-19 vaccine progress have lifted the markets due to the severe impact of the vaccine on the world economy. In this environment of high market optimism, a number of stocks are outperforming the market. Some of the day’s top performers are as below:

    Team Inc [NYSE:TISI]

    Team Inc is one of the top performers this afternoon and is up by over 20%. This stock’s rally follows the release of strong Q2 results despite the COVID-19 pandemic. The company reported that in the quarter, it reduced its debt levels by more than $26 million to hit the lowest quarterly debt levels in more than 4 years.  It also reported that in the quarter, its operating cash flows rose to $26.3 million, and this led to an increase in free cash flows of $26.3 million. The company also reported that in the quarter, it managed to cut costs by $35 million, beating its own estimates of $20 million to $25 million.

    Professional Diversity Network Inc [NASDAQ:IPDN]

    Another top performer this afternoon is Professional Diversity Network Inc and is up by 33%. Its rally comes after the company announced that it had entered into a partnership with Web Scribble. Announcing the deal, Professional Diversity Network CEO Adam He stated that, they were happy to launch a job board using Web Scribble’s expertise and knowledge. He added that the new website will offer clients and job seekers a smooth experience all through the hiring process. On its part, web-scribble CEO, Alexey Gutin stated that they were excited to partner with a market leader like PDN to offer innovative services.

    Alimera Sciences Inc [NASDAQ:ALIM]

    Alimera Sciences Inc is another top performer this afternoon and is up by 20%.  This follows the company’s release of its preliminary list of presenters for LD 500.  Company president Chris Lahji stated that the first list of companies that will do presentations at the LD500 on September 1st to 4th.  He added that this ambitious project will feature over 300 companies and over 20k attendees for the online event.

     

  • Top Gainers as Earnings Drive Market Momentum

    Top Gainers as Earnings Drive Market Momentum

    The stock markets are up this afternoon, with the NASDAQ, Dow, and S&P 500 all in the green. This comes as investors await earnings of several major corporations after markets close.  Some of the companies that will release their earnings after markets are Disney, Beyond Meat, and Nikola. Expectations are high that if these companies record good results, it could be a signal to economic resilience despite the coronavirus.

    The markets are also driven by optimism that democrats and republicans are moving closer to a deal on a COVID-19 economic bailout. Yesterday, House Speaker Nancy Pelosi met with the White House Chief of Staff Mark Meadows and Senate Minority Leader Chuck Schumer to discuss unemployment benefits.  In this environment of increased optimism, there are stocks that are gaining by very high margins. Some of the top gainers this afternoon are as below:

    Zovio Inc [NASDAQ:ZVO]

    Zovio Inc is a top gainer this afternoon and is up by 22.85%.  The stock’s rally comes after the company reported strong Q2 results. The company reported that Q2 earnings stood at $0.24, beating analysts’ consensus estimates of $0.11 by 118.18%. The company reported that its non-GAAP net income rose to $8 million compared to a loss of $4.6 million that it reported in Q2 of 2019 when it had a non-GAAP income of $4.6 million. The company attributed its strong performance to a strong enrollment that beat expectations.  It also attributed the results to increased innovation in its software services.  CEO Andrew Clark stated that the firm was working with the University of Arizona to create an entity that will be powered by Zovio’s technologies. With such innovation and continued resilience in a pandemic, this stock remains a must-watch in the near-term.

    iRhythm Technologies Inc [NASDAQ:IRTC]

    iRhythm is another top performer this afternoon and is up by 26% at the time of writing. It’s upside momentum follows the company’s comments on Medicare and Medicaid proposed schedule for 2021. The company noted that the proposed rule that was set yesterday doesn’t include all the needed information, more specifically the Practice Expense RVU. iRhythm added that it would offer additional information based on the details provided by the CMS.

    Precipio Inc [NASDAQ:PRPO]

    Precipio Inc is another top gainer this afternoon and is up by over 30%. Its huge gains come after the company announced that it had launched antibody tests for COVID-19 in its labs. It stated that physicians will be in a position to do tests by simply drawing a blood sample from the patient.  CEO Ilan Danieli stated that the company was committed to making moves that will drive up customer and shareholder value.