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Tag: Morning News

  • 3 Biotech Stocks Going Parabolic Today and With Potential for More Gains

    3 Biotech Stocks Going Parabolic Today and With Potential for More Gains

    The markets are up to slow day as investors continue to digest yesterday’s presidential debate.  The marker is still unsure of who is likely to win the election and this is likely to keep markets volatile in coming weeks.  The uncertainty comes not just from the polarized nature of the upcoming election, but also the fact that the policies of the two contenders are very different and could have a direct effect on the markets.

    There is also the fact that the markets still need a stimulus package and so far none has been agreed upon. Democrats have already advanced a $2.2 trillion stimulus package, but there are no guarantees that it will be agreed upon. The COVID-19 pandemic also continues to be a major risk to the economy. Recently, COVID-19 death numbers hit one million and until a vaccine is found, the economy will remain vulnerable.

    So vulnerable is the economy that oil prices have dropped as a reflection of declining demand in the economy. Despite the overall market weakness, biotech stocks have been performing quite well. This is largely due to the excitement that comes with positive biotech news. Some of the biotech stocks that have been gaining since pre-market and could keep gaining all through the day are as below:

    CTI Biopharma Corp [NASDAQ: CTIC]

    CTI Biopharma Corp gained by over 100% pre-market and doesn’t seem to be easing up. This follows the company’s announcement that would it had submitted an NDA requesting for accelerated approval for its treatment for people suffering from severe thrombocytopenia called pactrinib.  According to CEO Adam R. Craig, the company has been working closely with the FDA since it completed phase 2 dosing of this trial treatment in a bid to fast track the approval of this treatment of severe thrombocytopenia an unmet need that has very few treatment options. He added that the company’s treatment had so far shown the potential to become a new treatment.

    Iterum Therapeutics PLC [NASDAQ: ITRM]

    Iterum Therapeutics PLC is another stock that is gaining momentum and was up by over 100% pre-market.  Its upside momentum comes after the company announced that it had a positive pre-NDA meeting with the FDA for its treatment for uncomplicated urinary tract infections called Sulopenem. The company is targeting 6 million people with UUTI in the U.S.

    BioHiTech Global Inc [NASDAQ: BHTG]

    This stock is another top performer this morning and is gaining upside momentum. This comes after the company provided its first disinfectant system targeting the cruise industry. It’s exciting because it opens a new revenue stream for the company.

  • Profitable Stocks to Watch on a potentially Slow Day

    Profitable Stocks to Watch on a potentially Slow Day

    U.S markets are headed for a weak start to the day this morning. In early morning trading, the S&P 500, the Dow and the NASDAQ are all in the red. The weakness is in tandem with similar trends in the European markets where key markets are all in the red.

    The FTSE, the DAX, and the CAC 40 are all in the red this morning. This weakness follows data pointing to an increase in the number of COVID-19 infections and deaths. So far, the number of deaths from COVID-19 has crossed one million, and there is no clear cut solution to the problem at the moment. The fear of increased COVID-19 cases had dampened the mood in the market, even as investors wait for a possible stimulus package from the U.S government.

    The rising number of deaths has also affected the oil markets as crude oil prices drop due to the sustained decline in demand. According to an AxiCorp market strategist, investors are now watching for signs of demand increase in the U.S markets.

    Essentially, most markets are largely expected to trade in negative territory today. Despite the overall market weakness, there are stocks that are performing quite well this morning and are expected to do well in the day. Some of the top stock top performers this morning that could sustain momentum all through the day are as below:

    Westwater Resources Inc [NASDAQ: WWR]

    This is a top performer this morning and is up by over 50% pre-market.  The interesting aspect to it is that there is no major news driving the momentum. However, the stock, like others in its sector, has been gaining upside momentum lately.

    This is driven by increased demand for EV batteries as society increasingly adopts electric vehicles as a solution to fighting climate change. Part of this company’s portfolio is the exploration of lithium deposits, which are critical to the battery making process.

    Greenpro Capital Corp [NASDAQ: GRNQ]

    Greenpro Capital Corp is another top performer this afternoon and is up by over 50%. While there is no news around it, this stock is still riding on its earlier updates on its cryptoSX exchange and its Decentralized Finance businesses.  These are key growth areas as blockchain continues to revolutionize the finance world, and investors expect these two businesses to drive Greenpro business long term.

    LM Funding America Inc [NASDAQ: LMFA]

    LM Funding America Inc is also quite strong this morning and is up by over 21%. Like most top performers this morning, this is largely a price action driven move, triggered by an increase in buying volumes.

     

  • Stocks to Watch as China Industrial Data Uplifts Markets

    Stocks to Watch as China Industrial Data Uplifts Markets

    It’s a good start to the week for stock markets all across the world. In Europe, the German industrial indices are on the rise, uplifting the rest of the market with them, with the DAX currently up by over 2%. It’s the same scenario in the U.K and France where the FTSE 100 and the CAC 40 are up by 1.5% and 2% respectively.  U.S equities are headed for an equally good day if their pre-market price action is anything to go by.

    At the time of writing, the S&P 500 was up 1.35%, the Dow by 1.34%, and the NASDAQ by 1.68%. The excitement in the market is driven by positive data from China. Chinese data shows that industrial profits remain strong and that they have been on a growth path for four months in a row.

    According to the country’s statistical bureau, industrial profits increased by19.1% in August to 612.81 million yuan, compared to a similar month in 2019. This has created excitement across global markets that the COVID-19 slump in economic activity is not as bad as had been feared. As market optimism rises, stocks that have exciting news are rallying more than the rest of the market. Some of the top performers ahead of markets are as below:

    Piedmont Lithium Limited [NASDAQ: PLL]

    Piedmont Lithium Ltd is a top performer pre-market and is up by over 200%. This follows the company’s announcement that it had signed a lithium ore supply agreement with Tesla. Under the initial 5 year deal, the company will supply a third of the planned 160k tons of spodumene concrete annually from its site in North Carolina. The deal also has a clause for an extension for another 5 years. In a statement, the company stated that the deal was the first step in its supply of lithium in the U.S market. Deliveries are expected to begin in between July 2022 and July 2023.

    Urban One [NASDAQ: UONE]

    While its gains are not that huge, it is still one of the biggest gainers pre-market. This follows news about a pending patent for circle technology. If it continues its current momentum, it stands to be one of the big gainers at the start of the week.

    Oxbridge Re Holdings Limited [NASDAQ: OXBR]

    This is one of the biggest performers pre-market and is up by over 90%. There is no major news about the company, which makes it a momentum-driven move. If markets keep gaining in the day, it could gain big too.

  • 3 High Potential Stocks to Watch this Morning

    3 High Potential Stocks to Watch this Morning

    The U.S markets are set for a weak close to the week, as indicators continue to point to a weak economy. Yesterday, unemployment data came out indicating that last week, 870k Americans filed for unemployment claims. While it is good since this is the fourth week that unemployment numbers have stayed below a million, it still points to a weakened economy.

    According to an economist from ING, James Knightley, the peak of unemployment claims during the 2008 economic crisis was 665,000. Essentially this means that at this point in the current crisis, the number of unemployment claims is still more than two hundred thousand higher than during the last financial crisis. Such high numbers are happening at a time when the number of COVID-19 cases continues to rise in the U.S. Recently, the U.S COVID-19 deaths hit 200k, and things could worsen until a vaccine is found. To make things worse, there are no guarantees that the U.S government will approve of a bailout plan any time soon.

    Democrats are working on a $2.2 trillion bailout plan, which is higher than what Republicans are likely to agree too. Coupled with the fact that the U.S is going into an election in weeks, chances of a deal appear slimmer. Despite the subdued outlook for the day, there are stocks that are doing quite well in the day. Some of the top performers this morning are as below:

    CBAK Energy Technology Inc [NASDAQ: CBAT]

    CBAK Energy Technology Inc is a top performer pre-market and is up by over 100%. This is largely a price action move and comes days after the company announced that it had won the bid for the Haier project and also grown its presence in the smart home market.  Commenting on these developments, CEO Yunfei Li stated that the company had extensive experience in the making of Lithium-Ion batteries and that they were leveraging it to make a breakthrough in the appliance sector.

    Great Elm Capital Group Inc [NASDAQ: GEC]

    Great Elm Capital Group Inc is another top performer pre-market and is up by over 20%.  This too is largely momentum-driven and comes a week after the company released strong quarterly and full-year results for 2020. The company reported that in Q4 of 2020, the company’s revenues rose by 7.9% despite tough times occasioned by the COVID-19 pandemic.

    TAT Technologies Ltd [NASDAQ: TATT]

    TAT is big gainer pre-market and is up by over 50%. This is a momentum-based price action move, as there is no major stock-related news this morning.

  • Stocks to Watch as Markets Rebound

    Stocks to Watch as Markets Rebound

    The markets are set for a strong day after showings bullish trading activity in the early morning session.  This follows data showing that despite the challenges facing the economy at the moment, consumer spending is on the rise Consumer data for the month shows that spending is likely to fall by 5.8% compare to 2019, but it was much better than August 2020, when it dropped by 10%.

    This has created lots of excitement as it points to resilience in the economy. With a bailout plan from the government yet to materialize, growth in consumer spending points to an economy that is growing and would take off once the pandemic cloud clears.

    According to an economist from Morgan Stanley, savings build-up due to the CARES Act would give consumers a cushion going into Q4 and all the way into 2021.  She further noted that the spending of households has been largely stable driven by a return of jobs at a faster rate than the markets were expecting.

    She further added that Morgan Stanley expects that the amount consumers choose to take from saving and spend will be dependent on hopes of fiscal support from the government. As optimism rises, there are stocks that are outperforming the market this morning and are well-positioned to keep growing all through the day. Some of the big performers this morning are:

    Marinus Pharmaceuticals Inc [NASDAQ: MRNS]

    Marinus Pharmaceuticals Inc is top performer this morning and is up by over 290%. This comes after the company effected a one for every four stocks held reverse split. The reverse split takes effect today after it was approved by the company’s shareholders back in March. The split will cut on the company’s outstanding shares to 30.6 million from the previous 122.3 million.

    SPI Energy Co. Ltd [NASDAQ: SPI]

    SPI Energy Co Ltd is another top performer this morning and is up by over 200% This follows the company’s announcement that it had launched a subsidiary that will focus on electric vehicles. CEO Xiaofeng Peng stated that the move was a major milestone for the company, and would add to the company’s diverse range of businesses in the renewables market.

    MediciNova Inc [NASDAQ: MNOV]

    MediciNova Inc is another top performer pre-market and is up by over 20%. This follows the company’s announcement that its COVID-19 vaccine was a success in generating antibodies that neutralized SARS-CVOV-2 in mice.  This is a big deal as the world is in a race for a vaccine.

     

  • Stocks to Watch as Markets Rebound after Days of Selloffs

    Stocks to Watch as Markets Rebound after Days of Selloffs

    The markets are headed for a mixed start to the day. After several days of selloffs, things have stabilized with tech stocks leading the way. Investors are hopeful that a stimulus package if it comes through, would help support the economy after it took a hit due to the COVID-19 lockdowns. Nonetheless, sentiment remains weak as elections approach.

    Due to the huge difference in policies between President Trump and his main rival Joe Biden, investors are getting out of risky investments as they await the election and its outcome. This is likely to continue weighing in on the markets in the short term. There is also the fact that the COVID-19 pandemic continues to hang over the markets like a bad cloud.

    So far the numbers don’t seem to be slowing down, and in some places, they are accelerating. Essentially, this means a return to normalcy is still a far-fetched idea until a viable vaccine is found.  Despite the mixed market sentiment, there are stocks that are outperforming the markets this morning. Most of the early morning gainers are stocks that have released strong quarterly results that point to their underlying fundamental strength. Some of the big performers this morning are as follows:

    DavidsTEA Inc [NASDAQ: DTEA]

    DavidsTEA is a big gainer this morning and is up by over 30%. This comes after the company released strong Q2 financial results. The company announced that e-commerce sales increased by 189.9%, while wholesale sales rose to $23 million.

    The company reported that its Q2 results were a reflection of a successful strategic shift towards digital-first. Commenting on the results, CFO Frank Zitella stated that the company was impressed with the spillover of Q1 growth into Q2 that led to a 25% growth in sales. He added that customers were responding well to the company’s online experience and that the current strategy would see the company return to profitability.

    IKONICS Corporation [NASDAQ: IKNX]

    IKONICS Corporation is another big gainer this morning after it released Q2 results for 2020. While revenues declined due to the COVID-19 pandemic, the company took decisive steps to protect liquidity, and grow as normalcy returns. This seems to have excited the market more than the drastic drop in revenues.

    NanoVibronix Inc [NASDAQ: NAOV]

    NanoVibronix Inc is a top performer this morning and is up by over 70% pre-market. This follows the company’s announcement that it had got FDA approval to introduce NanoVibronix UroShield® in the U.S. UroShield® is an ultrasound product that prevents bacteria buildup on urinary catheters.

     

  • Stocks to Watch despite Bearish Market Outlook

    Stocks to Watch despite Bearish Market Outlook

    The markets are down this morning, indicating that the selloff that started on Friday could continue all through the day. This is due to a combination of factors that could see the markets remain volatile for quite a while.

    One of the key factors dragging the market down is the rising number of COVID-19 cases globally. In the U.S, Europe and the rest of the world, the numbers are spiking again after a slowdown through August. This has created fears that even States that have reopened could go back into lockdown further, hurting an already weak economy.

    The pandemic-driven uncertainty is a compounded by the fact that the U.S is just a few weeks to an election. This means that investors are likely to exit from high-risk stocks in anticipation of a close-call election and increase volatile in the market.

    On top of that, markets are usually slow in September, and this coupled with the higher risk levels are all affecting the markets today. However, even in the current largely negative market sentiment, there are stocks that are headed to a good start to the day. Some of the stocks doing well pre-market are:

    Northern Oil and Gas Inc [NYSE: NOG]

    Northern Oil and Gas Inc is one of the biggest gainers this morning. This follows the company’s announcement that it was doing a 1 for 10 reverse stock split that will take effect today.

    The company stated that the split was aimed at lowering the cost of ownership and improve the company’s capacity to take part in broader market indices. The company also announced that it would be using the stock split to improve the financial health of the company. With the split in place, this stock stands to be a top gainer all through the day.

    Zomedica Pharmaceuticals Corp [NYSE: ZOM]

    Zomedica Pharmaceuticals Corp is another stock that is in the green this morning. This stock’s upside momentum is largely price action-driven and follows the announcement that the company was planning to make a gastrointestinal testing panel for TRUFORMA™. The company stated that this would add to the company’s portfolio of assays also include those for testing adrenal and thyroid issues tests.

    Just Energy Group Inc [NYSE: JE]

    This is another pre-market top performer and is up by over 10%. This follows the company’s announcement that it only awaiting FERC approval to close its plan of arrangement deal. The deal includes a move to recapitalize to strengthen the company’s market positions.

     

  • Market Sentiment Mixed but there are Winners

    Market Sentiment Mixed but there are Winners

    The markets are headed to a mixed start to the week. The S&P 500 and the Dow are both in the red with the NASDAQ up marginally. The subdued sentiment is a reflection of activity in the European markets. Stocks in Europe are in the red as data shows a resurgence in COVID-19 cases. Essentially, this means that the world, including the U.S, is yet to fully control the pandemic.

    For the markets, this means a prolonged period of uncertainty and economic weakness. The Federal Reserve has already announced that it was projecting that the COVID-19 would continue to have a negative impact on the economy in the foreseeable future. Investors are looking to a future where subdued economic activity could potentially lead to a correction.

    Nonetheless, the U.S economy continues to show resilience. Even without an economic stimulus package from the government, the U.S economy continues to show signs of recovery in September.  This is an indicator that the underlying fundamentals are strong and that a new stimulus package or a COVIDD-19 vaccine could reignite the economy.

    In this environment of cautious optimism, there are stocks that are outperforming the market by a huge margin. In today’s session, some of the stocks showing signs of a major upside when markets open are as below:

    Immutep Limited [NASDAQ: IMMP]

    Immutep Limited is one of the top performers this morning and is up by close to 20%. This follows the company’s announcement of an improvement in results from stage 1 of its phase 2 TACTI-002 study. The company’s CMO Dr Fredric Triebel stated that by combining efti and pembrolizumab had shown good progress in people with HNSCC and NSCLC. The progress also attracted positive comments from external players. Commenting on it, principal investigator Dr Martin Forster of the University College London Hospital stated the results they received were encouraging.

    ClearOne Inc [NASDAQ: CLRO]

    This is another top performer this morning and is up by over 10%. This comes days after the company announced that it had priced $5.3 million direct offerings as per NASDAQ rule. The company announced that it would use money from the placement as working capital and other corporate purposes.

    Pivotal Investment Corporation II [NYSE: PIC]

    Pivotal Investment Corporation is another top performer this morning and is up by over 20% pre-market. This follows the company’s announcement that it was merging with XL Fleet, a commercial vehicle electrification company for listing on the NYSE. It is an interesting merger given XL’s growing demand and growing revenues.

  • Top Stocks to Watch as Markets Head to a Weak Start

    Top Stocks to Watch as Markets Head to a Weak Start

    U.S stocks are headed for a bearish start to the day after yesterday’s statements by the Fed Monetary Committee on interest rates. Yesterday the Federal Reserve announced that it would keep interest rates as they are, while also offering a positive message on the direction of the U.S economy for the rest of the year. However, the Fed also announced that while the economy was recovering fast, the future remained uncertain.

    It also added that the country’s economic activity would continue to face challenges from the COVID-19 pandemic. This has sent the message that despite the easing of lockdowns, the pandemic will continue to be a dark cloud on the economy until a vaccine is found. As such, the fact that none has been found yet means that uncertainty could last for longer. That’s because even at the point that one is found, there still could be a period of uncertainty as countries move to distribute the doses to their population. Despite the bearish outlook in the day, the overall sentiment of the market remains bullish. It is for this reason that stocks that have positive news about them are gaining quite strongly in the day. Some of the top performers ahead of markets opening are as below:

    Enservco Corporation [NYSE: ENSV]

    Enservco Corporation is a top gainer this morning and is up by over 49%. This is largely price action-driven, as there is no news about the company at the moment.

    A month ago, the company announced its Q2 results and they reflected a slowdown in economic activity due to its economic activity. The company also stated that it was well-positioned to meet the company’s client base. The company also announced that it was refinancing its debt to improve its balance sheet.  With the COVID-19 wave slowing down globally, investors are likely to keep bidding up the price.

    Northern Dynasty Minerals Ltd [NYSE: NAK]

    Northern Dynasty Minerals Ltd is another top performer this morning and is up by over 35%. This is largely a price action move and comes days after the company’s CEO presented at the H.C Wainwright & Co. The fact that he touched on the company’s Pebble project continues to create excitement in the market.

    Sorrento Therapeutics Inc [NASDAQ: SRNE]

    Sorrento Therapeutics Inc is another top performer this afternoon and is up by over 32%. This follows the company’s announcement that it had got a study may proceed letter from the US FDA for its phase 1 clinical trial for its COVID-19 treatment called COVI-GUARD.

     

     

  • Stocks to Watch as Markets Look Set for a Calm, Boring Day

    Stocks to Watch as Markets Look Set for a Calm, Boring Day

    The markets are calm this morning, but they are largely positive. Investors are awaiting news from the ongoing Federal Reserve policy meeting. Part of the calm stems from the fact that the markets are not expecting much of a change from the Fed’s earlier stance on its inflation policy. Earlier, the Federal Reserve chairman Jerome Powell had stated that the Fed was implementing a new policy that it’s calling Average Inflation Targeting. Through this policy, the Federal Reserve is ready to allow prices to rise above the 2% target for some time, and use this to compensate for when inflation has to run below the targeted levels for extended periods. Since there are no expectations of a change from this stance from the current meeting, it has not created any kind of volatility in the markets. Nonetheless, the momentum is largely positive at the moment. The markets are still riding on the increased possibility of a COVID -19 vaccine coming out before the end of the year.  This would help drive up the economy to match the momentum that has been experienced in the equity markets over the last 5 months during the pandemic. Despite the relative calmness in the markets, there are stocks that are gaining faster than the overall market. Some of the best-performing stocks today ahead of markets opening are as below:

    Tiziana Life Sciences PLC [TLSA]

    Tiziana Life Sciences PLC is a top gainer this morning and is up by over 10% and gaining. This follows the company’s announcement that following a strategic review, it was demerging its StemPrintER and SPARE genomics business into a different listed company, called Accustem. The company stated the move would allow Accustem to commercialize the StemPrintER technology with cash of about a million pounds. It’s a move that unlocks value for the company’s shareholders.

    Eastman Kodak [NYSE: KODK]

    Eastman Kodak is another top gainer this morning and is up by over 50%. This follows the company’s announcement that it was actively addressing allegations that it had mishandled the stock option grants for its CEO just before it announced the loan awarded by the U.S government. The company has stated that it had agreed to act on a report on this process, and that includes a reorganization of the board.

    Myomo Inc [NYSE: MYO]

    Myomo Inc is a top performer this morning and is up by over 40%. This follows the company’s announcement that it had been certified as a Medicare provider. This will enable the company to bill Medicare directly when delivering its services in Washington DC, and in 39 States.