STOCKS TELEGRAPH

Tag: Morning News

  • Stocks to Watch as Bullish Sentiment Strengthens in the Market

    The markets are up this morning driven by hopes that the pandemic could be well on its ways to an end. Since Pfizer and German biotech firm BioNTech announced that their vaccine was 90% effective, the market momentum has largely been positive. European markets have been up all day and this momentum seems to have spilled over to the U.S. where all key indices are up this morning.  The S&P 500 is up by 0.65%, the Dow by 0.64%, and the NASDAQ by 0.99%. The momentum globally is boosted by the fact that governments are showing a willingness to support the mass roll-out of this vaccine. According to the U.K health secretary, the NHS could be ready for a roll-out of this vaccine as early as next month. In the U.S, the Joe Biden win and news of the vaccine has seen investors take more bold moves in the market. All through the pandemic, investors have mainly piled resources on tech stocks. However, this is changing and investors are now allocating resources into the broader market. This could see the stock market rally all the way into 2021. As this momentum gains, fundamentally strong stocks especially in biotech could gain significantly in the near-term. In the day, some of the stocks likely to record gains going by their pre-market performance are as below:

    Five Prime Therapeutics Inc [NASDAQ: FPRX]

    Five Prime Therapeutics Inc is a top performer this morning and is up by over 308.80%. This follows the company’s announcement that its bemarituzumab plus chemotherapy had shown progress in the overall survival of patients when compared to a placebo. Commenting on the results, CEO Helen Collins stated that the results that they had achieved took the company close to the company’s possibly first therapy in the treatment of gastric cancer. She added that the results they observed showed that the therapy could be helpful in the treatment of more cancers.

    Fuel Tech Inc [NASDAQ: FTEK]

    Fuel Tech Inc is a top performer this morning and is up by over 30%. This follows the company’s announcement of strong Q3 results. The company has announced that in Q3. Commenting on the results, the CEO, Vincent Arnone said that while COVID-19 has a negative effect on the company, the staff had worked hard to mitigate its effects and meet customer needs in the best way possible.

    Performant Financial Corporation [NASDAQ: PFMT]

    Performant Financial Corporation is up this morning and is trending higher by over 20%. This follows the release of strong Q3 results that show that the company’s total revenues grew from $35.9 million in Q3 of 2019 to $36.2 million in Q3 of 2020.

  • Stocks to Watch as Markets Price-in a Biden Presidency

    The markets are up this morning, a reflection of their adjustment to a Joe Biden presidency. This comes after a highly volatile election week that was unmarked by uncertainty as to who had won the election.

    The markets are expecting a presidency that is likely to be more moderate and pro-business. One aspect of a Joe Biden presidency that is exciting the market is the possibility of a big fiscal stimulus package, State investments in sustainability projects, and better policies in international trade. In his speech on Saturday, Biden stated that he would work towards the unity that has shown to be highly divided.

    The markets are also excited that some negative aspects of a Biden presidency such as higher taxes could be mitigated by a republican-controlled senate. Essentially, the markets expect more predictability in how business interacts with the Whitehouse. The Fed also recently announced that it would do everything possible to keep supporting the economy.

    This means that the economy could be headed for some good times ahead and the markets are responding to the same. With this expected stability and growth, stocks in industries likely to benefit the most such as biotech and cannabis stocks are doing quite well. Some of the top performers pre-market that could gain all day are as below:

    Aptevo Therapeutics Inc [NASDAQ: APVO]

    Aptevo Therapeutics Inc is making big moves in continuation of its Friday’s price action. The stock is up by more than 100% pre-market and gaining. This follows the company’s announcement that it had adopted a limited duration stockholder rights plan.

    The company announced that its board had approved the plan that would help protect stockholders from the actions of third parties determines are not in the company’s best interest, and help them get the most value from the company. This seems to have excited traders if its price action is anything to go by.

    Oncternal Therapeutics Inc [NASDAQ: ONCT]

    Oncternal Therapeutics Inc is a top performer this morning and is up by over 50%. This follows the company’s announcement of its Q3 results and offered a business update. The company announced that in Q3, its balance sheet strengthened all thanks to $10.1 million that it got in equity financing. The company also reported that in Q3, it had received a rare pediatric disease designation for its treatment called TK216 from the FDA.

    Tilray Inc [NASDAQ: TLRY]

    Tilray Inc is a top performer this morning and is up by over 40%. This is in line with other cannabis stocks that are all set to benefit from liberal weed policies in more states across the U.S. The company’s revenues are set to go up thanks to these policies and its price action is reflecting the same.

  • Top Stocks to Watch U.S Vote Counting Enters Critical Phase

    Top Stocks to Watch U.S Vote Counting Enters Critical Phase

    The markets are down this morning and look set to close the week in the red. This follows the continued uncertainty in the U.S election. The situation has been complicated by the fact that the president has discredited the vote, setting the stage for a prolonged electioneering period.

    However, there is a possibility that the markets could turn positive in the day, driven by the direction that the votes are taking. So far, the election seems to be leaning towards a Biden win with the results indicating that he could be headed for a win in Georgia, a key battleground state.

    As it gets clearer on the direction that the vote could go, the markets could rally in adjustment to the same. A win for Biden would possibly mean a much bigger stimulus package to bail out an economy that has been badly hit by the COVID-19 pandemic. Besides the elections, analysts have underpinned the Fed as the key factor to the markets going into 2021.

    The Fed has indicated that it would do everything possible to support the economy. Under the prevailing conditions, there are stocks that are doing pretty well and are likely to outperform the market in the day. Some of the stocks making big moves pre-market and could gain through the day are as below:

    Aurora Cannabis Inc [NYSE:ACB]

    Aurora Cannabis is one of the top performers this morning and looks set to extend yesterday’s gains. This follows expectations of more U.S states legalizing weed.  Earlier in the week, voters in several states including Montana, Arizona, Mississippi, and Arizona voted to have more favorable laws towards marijuana. This means that the market for marijuana companies will only get bigger going into the future, and the price action is moving to reflect the same.

    GoPro Inc [NASDAQ: GPRO]

    GoPro Inc is another top performer this morning and is up by over 19%. This comes after the company released better than expected Q3 results.

    The company’s quarterly earnings came in at $0.20 per share, much higher than the analyst consensus estimates of $0.06.  Revenues also increased to $280.51 million, compared to the $131.17 million that it reported in Q3 of 2019. These results could see this stock gain all through the day.

    Conduent Incorporated [NASDAQ: CNDT]

    Conduent Incorporated is up by over 10% pre-market. This follows the company’s release of strong Q3 results and the announcement of new business deals. The company reported that in the quarter, its total contract signings totaled to $468 million, an increase of 100% compared to the previous year.

  • Stocks to Watch as Tight Election Race Creates Market Uncertainty

    Stocks to Watch as Tight Election Race Creates Market Uncertainty

    The markets are mixed this morning after results show a tight race between President Trump and Joe Biden. Markets were expecting a clear cut win by any of the two candidates. With the results expected to take longer to be released, the markets are likely to remain volatile all through the day.

    Nonetheless, there are stocks that are doing quite well pre-market and could be big winners in the day. Some of the top performers in early morning trading are as below:

    Lyft Inc [NASDAQ: LYFT]

    Lyft is up this morning after good news for ride-sharing companies in California. Uber, Instacart, DoorDash, and Lyft the main proponents of California’s Proposition 22 are well on their way to keep gig workers as independent contractors.

    So far, Associated Press has indicated that the race is favoring proponents of this proposition. Currently, about 58.2% of voters, representing about 6.3 million are supporting the Prop, while approximately 41.5%, representing about 4.5 million people are against it.

    According to the ballot measure, workers will get at least 120% of minimum wage while on the job and 30 cents compensation for engaged miles. They will also get a healthcare stipend, protection against discrimination, and on-job occupational accident insurance as well as protection from sexual harassment and liability insurance.

    Supernus Pharmaceuticals [NASDAQ: SUPN]

    Supernus Pharmaceuticals has reported its third-quarter earnings for the year 2020. In this report, SUPN reported $0.74 per share going way and above Zacks Consensus Estimate of $0.27 per share. This record is compared to $0.54 per share last year.

    This quarterly report represents an improvement of about 174.07% as compared to the same quarter the previous year. Expectations were that the company would post earnings of about $0.35 per share, but instead posted earnings of $0.65, about 85.71% surprise.

    This company has surpassed Zacks Estimates four times in a row. Supernus reported revenues of about $155.14 million for the quarter ended September 2020, exceeding Consensus Estimate by about 18.11%, as compared to last year’s revenues of $102.14 million in the same quarter.

    Digirad Corporation [NASDAQ: DRAD]

    Diversified Holding Company, Digirad Corporation that has three divisions: Healthcare, Real Estate & Investments, and Building & Construction reported today that it has entered into a stock purchase agreement planning to sell its DMS Health Technologies, Inc.

    They are planning to sell the business unit for $18.75 million. This deal is based on customary closing conditions expected to end close to the end of January 2021. DMS Health is the company’s mobile healthcare unit that deals with diagnostic imaging that includes computerized tomography, positron emission tomography as well as nuclear medicine, and magnetic resonance imaging among others.

    In 2019, this business in it posted revenue of $41.3 million which was about 40.1% of the total revenue posted by the company’s healthcare division.

     

     

     

  • Top Gainers Pre-Market as U.S Equities Experience a Huge Sell-Off

    U.S Equities are headed for a weak start to the day in tandem with the price movements across the Atlantic. The NASDAQ and the Dow are down by over 1% pre-market, while the S&P 500 is down by over 0.50% and losing. This follows the increasing COVID-19 numbers that have seen major European economies such as France fall back to strict lockdown measures.

    The situation is made worse by the fact that the U.S is entering an election week where two candidates with completely different approaches to everything from the economy to the handling of the COVID-19 pandemic are competing.

    This may have seen investors exit risky assets in anticipation of the elections. The markets have also been greatly affected by the fact that there hasn’t been a stimulus deal that is widely expected to breathe life into the economy. The deal was expected to materialize weeks ago, but it is yet to come through adding an extra layer of uncertainty to the markets.

    Despite the prevailing market conditions, there are stocks that are braving the selloff and doing extremely well pre-market. The top performers range from those doing stock splits to biotech stocks that have recently announced big news. Some of the top performers this morning are as below:

    Jianpu Technology Inc [NYSE: JT]

    Jianpu Technology Inc was a top performer yesterday and closed the day with gains of 734%. It has sustained that momentum pre-market and is currently up by close to 20%. The upside is driven by the company’s share ratio changes that are coming into effect today. The company is changing the ratio of its class A shares from two ADS to shares and effecting a new system of one ADS to 20 class A shares. To shareholders, the change is the same as a 1 for 8 reverse stock split and the same has reflected in this stock’s price action.

    Miragen Therapeutics Inc [NASDAQ: MGEN]  

    Miragen Therapeutics Inc was in the green yesterday and looks set to continue with that momentum today.  The stock is up by over 15% pre-market. These gains come after the company announced that it was acquiring Viridian Therapeutics Inc. a deal that will give the company access to the VRDN-001 monoclonal antibody.

    Equillium Inc [NASDAQ: EQ]

    Equillium Inc is a top performer pre-market and is up by over 28%. This follows the company’s announcement that it had received FDA clearance for an IND for its phase 3 trial for a COVID-19 treatment called EQUINOX. This is exciting given that the world is experiencing a second wave of the deadly disease.

     

     

     

  • High Potential Stocks amidst Mixed Market Sentiment

    High Potential Stocks amidst Mixed Market Sentiment

    It’s a mixed day in the .U.S markets in early morning trading. The NASDAQ is up but the Dow and the S&P 500 are all in the red. This comes following a mix of good and bad news.

    The good news influencing the market today is data showing that jobless claims have dropped below 800k. The U.S Department of Labor data on unemployment insurance claims shows that initial jobless claims for the week that ended on October 24th  stood at 774k, slightly lower than the 787k that was reported a week earlier.

    On top of that, continuing jobless claims for the week that ended on October 17th stood at 7.775 million, compared to a week earlier when those numbers stood at 8.373 million. The latest data marks the 9th week in a row that jobless claims have held below 1 million. For the markets, this is a positive sign that the economy is resilient despite the pandemic and uncertainty of when a stimulus package will be passed.

    \The bad news is that cases of the pandemic continue to rise not just in the U.S but globally. Several countries have gone back to the strict lockdowns that had been put in place when the pandemic started. This has put a dent to hopes of a speedy economic recovery until a definitive vaccine is found.

    According to the Chief Economist for JLL, the rapid increase in cases means that there is a high probability of the government locking down a large part of the economy again. Even in this mixed environment, there are stocks that are set to start the day on a high note. Some of them are as below:

    Pinterest Inc [NYSE: PINS]

    Pinterest is in the green pre-market and is up by over 30%. This comes after the company released strong Q3 results. The company reported that in Q3, revenues rose by 58% to hit $443 million. The company also reported global monthly users rose by 37% to a high of 442 million. These results are likely to see the stock keep gaining through the day.

    Inphi Corporation [NASDAQ: IPHI]

    Inphi Corporation is up by over 20% in pre-market trading. This follows news that Marvell was buying the company in a $10 billion deal that would strengthen Marvel’s data center and 5G business.  News of this deal could see the company keep gaining all through the day, and outperform the market.

    IT Tech Packaging Inc [NYSE: ITP]

    IT Tech Packaging Inc is up by over 30% pre-market. This upside push comes two days after the company announced that it was carrying out a detailed emergency response drill in Hebei Baoding Dongfang for radiation accidents. The goal of the drill is to help the company employees practice how to respond in emergency cases.

     

     

  • Stocks to Watch as Equities Rebound After Monday Selloff

    Stocks to Watch as Equities Rebound After Monday Selloff

    The markets are up this morning after a heavy sell-off yesterday. This is an indicator that traders feel that the market is entering oversold territory. Under current circumstances, stocks that have some growth potential could rally all through the day. Some are already showing positive price action in early morning trading, like the ones below.

    Insignia Systems Inc  [NASDAQ: ISIG]

    Insignia Systems Inc. is up by over 50% in early morning trading. The company has recently been winning big through its initiatives of helping emerging businesses grow amid the COVID-19 pandemic.

    COVID-19 has greatly affected emerging needs, bring most to their knees, but there are those that have survived through the turmoil and exceeded expectations one of them being Ka-Pop! After winning Insignia’s Pitch Slam competition, the Colorado-based company that makes puffs and chips from ancient or indigenous grains, the brainchild of Dustin and Christina Finkel won the grand prize of $100,000 worth of free mobile advertising and a guest spot on the Omni Talk Spotlight Series podcasts. It is through this initiative that Ka-Pop has made significant leaps despite the prevailing condition in the world.

    Pennsylvania Real Estate Investment Trust [NYSE: PEI]

    A leading international operator of retail and experiential destinations, PREIT is up after it signed an amendment to the Restructuring Support Agreement (RSA) that will see the company get more time through October 28, 2020, to repay its lenders in the debt restructuring formula as provided in the RSA agreement. PREIT Chairman and Chief Executive Officer said the company continues to work constructively with its lenders, with the extension allowing more time for further discussions.

    He continued saying that they are glad about the progress they have so far made and hope to implement the RSA agreement out of court. In the agreement, PREIT hopes to secure more flexibility that will enable the company to meet its obligations and serve its clients better at the company’s properties.

    Ranger Energy Services Inc [NYSE: RNGR]

    Zacks Oil and Gas subsidiary Ranger Energy has been on an uptrend for the last few days. The company recently reported a Q3 quarterly loss of $0.38 per share as compared to the Zacks Consensus Estimate of $0.45 adjusted for non-recurring items. The reports indicate surprise earnings of 15.56%, better than a quarter ago. In the previous quarter, expectations were that the company would post a loss of $0.55 per share, but ended up posting a loss of $0.47, a 14.55% surprise. The shares have now lost about 61.7% from the beginning of this year. Its share price sustainability will depend largely on how the management handles the current financial report. As for the investors, there is no easy prediction when it comes to the performance of Ranger Energy stock. The current status holds Zack Consensus Estimate #3 showing that the shares could perform in line with the market movement going forward.

  • Top Stocks to Watch as Rising COVID-19 Numbers Tank Markets

    Top Stocks to Watch as Rising COVID-19 Numbers Tank Markets

    The markets are down this morning with the NASDAQ, the S&P 500, and the Dow are all in the red. This follows the increased number of COVID-19 cases and the return of strict lockdown measures. Over the weekend, the number of cases rose to hit a high of 83,757.

    Europe too has seen a huge spike in cases with France leading the way with more than 52,000 cases yesterday. This has seen several countries fall back into lockdowns with Italy and Spain announcing very strict measures. In fact, Spain has already declared a state of emergency.

    With the situation seemingly getting worse, the U.S economy, and the world economy at large is unlikely to reopen to pre-pandemic levels any time soon. On top of that, the number of cases is rising at a time when the U.S is close to an election, and there isn’t a consensus on a stimulus package to support the economy. This uncertainty could see the markets trade in the red for the better part of the day.

    Nonetheless, even as markets show weakness across the globe, there are stocks that are performing quite well today. Most of the day’s biggest gainers are stocks that had some good news towards the end of last week and over the weekend. Some of the stocks doing well pre-market are as below:

    Lianluo Smart Limited [NASDAQ: LLIT]

    Lianluo Smart Limited is a top performer this morning and is up by over 900%. This follows the company’s announcement that it had entered into a merger agreement with Newegg Inc. Under the merger deal, shareholders of Newegg Inc will become the main shareholders of Lianluo Smart Limited. On top of that, LLIT will sell its stake in Lianluo Connection Medical Wearable Device Technology Co. Ltd. On top of that, after the merger, the new entity will carry out a public offering where it expects gross proceeds of $30 million.

    Muscle Maker Inc [NASDAQ: GRIL]

    Muscle Maker Inc is a top performer this morning and is up by over 80%. This follows the company’s announcement the acquisition of a previously franchisee-owned location in Chelsea in Manhattan. This is one of the busiest locations and generated over $1.1 million in revenues in 2019.  As such, the acquisition gives muscle maker a chance to grow its business and test products in the market.

    Smart Sand Inc [NASDAQ: SND]

    Smart Sand Inc is up pre-market by over 30%. This follows the company’s announcement that it would release of Q3 results on November 9th, 2020. The expectation of positive results has seen the stock continue to gain.

  • Top Gaining Stocks as Markets Rally on Hopes of a Stimulus Deal

    The major stock indices are up this morning on news that a stimulus deal could be close. Yesterday, house speaker Nancy Pelosi stated that the negotiators were just about the deal.

    Given that it is the most awaited deal at the moment, this positive news could see the market rally all through the day. In this environment of increased optimism, several stocks are outperforming the market and could trade in positive territory all through the day. Some of the top gainers pre-market are as below:

    Socket Mobile Inc [NASDAQ: SCKT]

    Socket Mobile Inc is one of the top gainers this morning after it released its financial results for the third quarter of 2020. These results are subject to an annual review process in line with goodwill impairment and a part of quarter-end closing procedures.

    The company failed to carry out this review in time as a result of COVID-19 complications and uncertainties. That means that the numbers announced today have no goodwill impairment. Sensitive numbers that might be impacted negatively will have an asterisk to denote that there might be some changes.

    The company will issue the full report once they complete the goodwill review and have it as form 10-Q for the third quarter.

    Marin Software Inc [NASDAQ: MRIN]

    Marin Software Inc. is gaining pre-market and looks set to start the day in the green.  The company recently said that it will announce its financial results for the third quarter ended September 30, 2020, on Thursday, November 5 after the close of the market.

    It further announced that on that same day, it will have a conference call at 2:00 PM Pacific Time and (5:00 PM Eastern Time) to deliberate on the result released.

    This call will be available in the United States of America through dialling the number (877)705-6003 and internationally through the number (201)493-6725. The conference ID 13710848 or access it through a live webcast via the link on the company’s website. There will also be a recorded replay of the same on November 12, 2020.

    CLPS Incorporation [NASDAQ: CLPS]

    CLPS Incorporation is another top performer after announcing its half-year and full-year financial results for the fiscal year 2020.

    The company has recorded significant improvement in both periods as compared to the results of the fiscal year 2019. Revenues and Gross profit increased by 37.2% and 25.1% respectively for the half-year results, and by 37.7% and 31.0% respectively for the full-year results. Other results including the net income attributable to CPLS incorporation’s shareholders and non-GAAP net income also recorded considerable improvement.

    The company’s Chief Executive Officer and Co-Founder Mr. Raymond Lin said that they have been focusing on the health of their employees and that of their families during the COVID-19 pandemic, but are pleased to have recorded stable growth in the two periods. He concluded by saying that the company hopes to continue expanding and grow its business.

     

  • Top Gaining Stocks Even as Stimulus Talks Bog Down Markets

    Top Gaining Stocks Even as Stimulus Talks Bog Down Markets

    The markets are headed for a weak start to the day, as all major indices are in the red, a continuation of a trend that started yesterday.

    This is a reaction to declining hope that democrats and republicans are unlikely to an agreement with regards to an economic bailout for the economy. Talks are still ongoing between the two sides and yesterday Nancy Pelosi and treasury secretary Steven Mnuchin were still in talks trying to come up with a deal that would be agreeable to both sides.

    According to a spokesperson for the house speaker, the differences that continue to put the two sides apart are still getting smaller, and focus has narrowed to health including on issues such as contact tracing and strategic testing for COVID-19. So far the two sides are yet to agree on the amounts. The Whitehouse is holding strong at $1.88 trillion, while the Democrats are rooting for a $2.2 trillion bailout plan.

    With neither side yielding, trader’s hopes for a deal this week have been dashed and the same is likely to keep reflecting in the markets through the week. The uncertainty is added by the fact that the election is tight and it’s a race between two candidates with very different policy proposals. Then there is the element of COVID-19 that is likely to keep large parts of the economy closed for the better part of the year. Despite the pessimistic mood in the market at the moment, there are stocks that are doing quite well this morning. Some of the top performers ahead of markets are as below:

    TuanChe Limited [NASDAQ: TC]

    TuanChe Limited is a top performer this morning and is up by over 200%. This rally comes just two days after the company announced that it would change the ratio of its class A shares. The change which comes into effect today has a similar effect as a 1 to 4 reverse split on the company’s stock.

    Ever-Glory International Group Inc [NASDAQ: EVK]

    Ever-Glory International Group Inc is a top performer this morning and is up by about 135%. This is largely a momentum-driven move as there is no news related to the company at the moment.

    Align Technologies Inc [NASDAQ: ALGN]

    Align Technologies Inc is up by over 25% this morning. This follows the company’s release of strong Q3 result. The company announced that in Q3, total revenues rose by 20% compared to a similar quarter in the last financial year.