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Tag: Morning News

Stocks to Watch amidst Mixed Market Sentiment after Fed Policy Framework

It’s a mixed day in markets today, after yesterday’s news from the Federal Reserve. The FED Chairman Jeremy Powell offered a roadmap for the raising of interest rates in 2020. This led to an instant drop in the value of most stocks.

That’s because investors are still apprehensive of the risks that this poses to the economy. The economy is just reopening after a pandemic shutdown that has devastated most sectors of the economy. However, the Fed has downplayed the impact of the interest rates increase and offered a rationale for it. Powell stated that the increase in interest rates was meant to cushion the economy in the future.

He stated that consistently maintaining low inflation would diminish expectations of inflation. This, in turn, would lower the Fed’s ability to stabilize the economy by cutting interest rate. It is on this basis that the Federal Open Market Committee was unanimous in its approval of an allowance for inflation to rise to slightly over 2% for a while.

While this has dampened the market to some extent, the markets are still supported by hopes of a COVID-19 vaccine. Several companies are already in advanced stages in the push for a workable vaccine. Success on this front would counteract the negative effects of an increase in interest rates since it would restart the economy across all sectors. In this environment of mixed sentiment, there are stocks that are rallying this morning. Some of the stocks that are in gains ahead of markets are as below:

Just Energy Group Inc [NYSE: JE]

Just Energy Group Inc is a top performer this morning and is up by over 80%. This follows the company’s announcement that it had approved a recapitalization plan. The company is part of the company’s plan to de-risk and achieve more sustainable growth. Through the recapitalization, the company announced that the move would improve the company’s finances by injecting more than $100 million and cut on net debts and the costs of preferred shares by $520 million. The improved outlook could play a role in the stock’s performance throughout the day.

Nortech Systems Incorporated [NASDAQ: NSYS]

Nortech Systems Incorporated is up by over 50% this morning. This comes after the company announced that it had completed a sale and leaseback deal. The deal is for the company’s manufacturing facilities that are located in Bemidji and Mankato for $6.3 million. The company’s CEO Jay D. Miller stated that he was happy with the deal’s success. He added that the deal had generated cash that had improved the company’s balance sheet and put it in a position to make strategic investments.

MICT Inc [NASDAQ: MICT]

MICT Inc is another top performer this morning and is up by 20%. This is momentum-based and follows the company’s announcement early last week that it had received its first order for its video telematics product.

August 28, 2020
Stocks to Watch as Markets Await Fed Chairman Remarks

It’s a weak start to the markets as investors await news from the Federal Reserve Chairman on the steps that the Fed is taking to bump inflation to its set target of 2%.

Speculation is rife that he will only offer a vague idea of the steps that the monetary policy committee will take. This is largely due to data consistently showing underlying economic weakness. Recent data on retail sales and consumer spending has shown that the core economic indicators are weak.

This also comes at a time when the S&P 500 has hit record highs raising fears that the markets are overvalued at the moment. In this environment of perceived high risks, money continues to flow into big tech stocks such as Facebook and Amazon. Investors are optimistic that in the event that the market corrects, big tech has what it takes to absorb the impact.

These stocks have already navigated the last few months of the COVID-19 pandemic well. Despite the dampened mood in the market, there are non-big tech stocks that have started the day on a high note. Some of them are as below:

Urban Tea Inc [NASDAQ: MYT]

Urban Tea is up by over 1000% this morning. The gains comes after the company announced its 1:10 reverse split that has now taken effect. Essentially this means that the company’s stock is now trading at 10 times the price it was trading at before the split.

However, the split does not in any way affect the shareholding of the investors. Every investor will still hold the same percentage of the stock that they held before the stock. Through the reverse split, the company’s shares have shrunk from a total of 79,438,648 to about 7,944,211. However, the reverse split has not affected the company’s preferred shares that still hold at 5 million shares.

Moxian Inc [NASDAQ: MOXC]

Moxian Inc is another stock that has started the day on a high note. This comes after the company announced that it had agreed the terms for a merger with Btab Group Inc. Under the deal, the new entity will offer 59 million of common stock, and 50 million class A shares that have restricted rights to vote. The merged entity will have a valuation of $400 million and over $40 million in revenues annually.

VBI Vaccines Inc [NASDAQ: VBIV]

This is another big mover this morning and has started the day up by over 30%. This comes after the company announced its pre-clinical COVID-19 program data and candidates selection for its one-dose vaccine candidate. This has created excitement around the stock in early morning trading.

August 27, 2020
Stocks to Watch amidst Mixed Market Sentiment

The markets are headed for a weak start to the day this morning. On one hand, there is the optimism of an easing of trade tensions between the U.S and China. At the beginning of the week, negotiators said there was positive progress on the trade talks.

The optimism is increased by news that China will be buying a large amount of US soya beans. The positive momentum is also increased by hopes of an end to the restrictions that have shrunk global trade, especially in service-related industries. This week the US FDA approved a COVID-19 treatment, and there are hopes that several vaccines are on the way. However, there are also fears that the effects of the pandemic run deeper. This is evident in the latest consumer data.

According to the Consumer Confidence Index data, confidence dropped in August to its lowest in 6 years. This is a negative signal to the US economy since two-thirds of it runs on consumer spending. This mixed outlook has seen money continue to flow into big tech stocks.

This is on the strength of these companies in their core markets. These companies also have the resources and the infrastructure to keep innovating and remain strong despite the prevailing circumstances. Despite the mixed outlook, there are several stocks that look set to start the day on a high note. Some of the big gainers pre-market that could dominate in the day are as below:

PolyMet Mining Corporation [NYSE: PLM]

PolyMet Mining Corporation is a top performer this morning and is up by over 700%. This follows the actualization of a 1:10 share split. The reverse share split was approved by the company’s board on the 21^st of August. At the time the company stated that after the split, the total issued and outstanding shares will drop from 1,0006,997,495 to 100,699,749. The split does not negatively impact on shareholders as everyone will retain the percentage of stock they held before the reverse split.

Immunic Inc [NASDAQ: IMUX]

Immunic Inc is another top performer this morning and is up by 19% pre-market. This is largely a price action move, after the stock’s correction over the last few days. Several days ago, the company announced that it had dosed its first healthy volunteer in his phase 1 clinical program for its IMU-856. The company announced that in pre-clinical studies, the compound had shown a paradigm shift in treating gastrointestinal disease.

Heat Biologics Inc [NASDAQ: HTBX]

Heat Biologics Inc is a top performer this morning and is up by over 20%. This comes after the company announced that it announced that it had published pre-clinical results on a COVID-19 vaccine. With the increased hopes of a COVID-19 vaccine, this stock stands to gain momentum through the day.

August 26, 2020
Stocks to Watch as Positive U.S-China Trade News Drive-up Markets

The markets are up this morning driven by news that the U.S and China are making progress in their trade negotiations. According to the U.S trade negotiator Robert Lighthizer and his Chinese colleague, the two countries were fully committed to ensuring that the negotiations turn out successful.

This reassurance has led to higher appetite for stocks due to the reduced geopolitical risks. According to Naeem Aslam of Avatrade, the possible positive outcome of the trade negotiations between the two largest economies in the world had taken away a major barrier in the global stock markets.

The news also come at a time when another risk factor to the economy seems to be falling under control. On Sunday the FDA approved the use of blood plasma in the treatment of COVID-19. In the event that it shows widespread effectiveness, then it would be a green light for the world economy to go back to normal. At the same time, hopes of a COVID-19 vaccine are rising by the day.

Several biopharma companies and academic institutions are in advanced stages in the race for a vaccine. This has added an extra layer of positive sentiment in the market. In this environment of high optimism, stocks with positive news or anticipated positive news are rallying. Some of the top performers ahead of markets are as below:

Viveve Medical Inc [NASDAQ: VIVE]

Viveve is a top performer pre-market and is up b 41% at the time of writing. This comes after the company announced that it has positive primary efficacy data from its Stress Urinary Incontinence (SUI) feasibility study that done over 5-months.

The company also announced that it had got positive results from its in-vivo pre-clinical study that was done to test the company’s new inert sham that would be used in the upcoming PURSUIT trial in the U.S. Commenting on the results, CEO Scott Durbin stated that they believed that the results were in support of the company’s thesis stating that cryogen-cooling had a good therapeutic effect. The results are likely to support this stock through the day.

Ocugen Inc [NASDAQ: OCGN]

Ocugen Inc is another top perfumer this morning and is up by 19%. This comes as investors await news from the company about its forward-looking statements. The stock is also buoyed by the fact that an insider recently bought a sizeable amount of the stock. The company’s founder Shankar Musunari bought $108k worth of stock, an indicator that he has confidence in the company.

Vivopower International PLC [NASDAQ: VVPR]

This is another top performer this morning and is up by 18%. This follows the company’s release of its finances for the financial year ending 30^th June 2020. The company reported that revenues grew by 12% compared to the last financial year. The company also reported that gross revenues grew by 28% compared to the last financial year. This has inspired investor confidence in the stock pre-market.

August 25, 2020
High Flying Plasma Pharmaceuticals as FDA Approves Plasma-based COVID-19 Treatment

The markets are up this morning driven by news that the U.S had approved a COVID-19 treatment. Yesterday, the U. S FDA issued an emergency use authorization for the use of blood plasma from people who had recovered from COVID-19 as a treatment.

In a statement, the FDA said that on the basis of available scientific evidence, the blood plasma of people who had recovered from COVID-19 had benefits that outweighed any potential risks. The statement further stated that the Emergency Use Authorization gave the green light for the distribution of the product in the U.S for use by healthcare providers to treat people hospitalized with COVID-19.

Commenting on the development, President Trump has stated that the treatment had so far cut mortality rates by 35%, quoting a study by the Mayo Clinic. Over the weekend, it was also reported that the President was considering fast-tracking a vaccine that was being developed by Oxford University in the U.K.

All these news have led to a surge in optimism across the financial markets, and major U.S indices are strong pre-market. In this environment of high optimism, plasma-related biopharma companies are rallying. Some of the biggest gainers this morning are as below:

ADMA Biologics Inc [NASDAQ: ADMA]

ADMA Biologics is flying high this morning after the FDA approved the use of recovered COVID-19 patients’ plasma as a treatment.

At the time of writing, the stock was up by 70% and gaining. The company is specialized in making plasma biologics for the treatment of a wide array of immune deficiencies and infectious diseases. With the use of plasma approved, investors are optimistic that with its infrastructure in plasma-based treatments, this company stands to benefit significantly in the foreseeable future.

ThermoGenesis Holdings Inc [NASDAQ: THMO]

ThermoGenesis Holdings Inc is another plasma-treatment biotech company that is rallying this morning. The company has the infrastructure for it, and investors are optimistic that it stands to benefit from the approved treatment.

The company operates in two segments and one of them is involved in automated cell separation of progenitor and stem cells taken from umbilical cords blood. It is also involved in the preservation of such blood for clinical applications.

Liminal Biosciences Inc [NASDAQ: LMNL]

This is another top performer this morning and is up by over 60% in pre-market trading. The company operates in two segments and one of them is called Plasma Derived Therapeutics. This segment of the company has a plasma protein purification system that is used in the extraction of protein therapeutics from plasma.

August 24, 2020
Stocks to Watch as Caution Grips the Markets

The markets are headed to a weak start this morning. This comes amidst rising concerns that the market is overvalued after the S&P 500 hit an all-time despite the ongoing pandemic. The uncertainty comes after labour data consistently showing that the U.S economy was still struggling from the effects of the COVID-19 pandemic The FOMC recent minutes also point to tempered optimism.

This environment has seen investors pile money into tech stocks that have an element of dominance in their markets, or have innovations that could help drive up their market value. Despite the current market environment, there are non-big tech stocks that are gaining momentum before markets open. Some of the top performers ahead of markets are:

Eyepoint Pharmaceuticals Inc [NASDAQ: EYPT]

Eyepoint Pharmaceuticals Inc is a top performer pre-market and is up by 49%. This follows the company’s announcement that it had received $9.5 million in upfront payments for an expanded license agreement from Ocumension Therapeutics.

The company stated that the deal was for the commercialization of YUTIQ® and DEXYCU® in South Korea and other markets in Southeast Asia. The payment is supposed to be full compensation for all development, regulatory and commercial sale transactions. Commenting on the deal, CFO George Elston stated that Ocumension was a major partner and shares the company’s core beliefs of pushing YUTIQ® and DEXYCU® in the treatment of several unmet medical needs.

He added that the company was happy to expand its partnership with Ocumension in the Asian market and that the money received would be used to expand the company’s clinical projects that are currently being developed. On his part, Ocumension CEO Ye Liu stated that they looked forward to the continued development of the two products. Since the deal is a revenue boost for Eyepoint, the company is uniquely positioned for gains all through the day.

Oragenics Inc [NYSE: OGEN]

Oragenics Inc is another top performer pre-market and is currently up by 11 %. This follows the company’s announcement that it had signed a process development and a manufacturing deal with Avid Bioservices for a COVD-19 vaccine. Under the deal, Avid will offer Oragenics support for analytical methods drug manufacturing and method development for Terra Cov-2 (a COVID-19 vaccine).

Commenting on the deal, Oragenics CEO Alan Joslyn stated that with Avid’s infrastructure capabilities, they are the right partners for the development. This deal is likely to support this project all through the day.

ShiftPixy Inc [NASDAQ: PIXY]

ShiftPixy is up in pre-market trading and is currently up by 11%. This comes after the company announced that it was relocating its corporate headquarters to Miami, Florida. Co-founder Scott Absher stated that Miami was on their roadmap for

August 21, 2020
High Potential Stocks to Watch Despite Weak Market Sentiment

It’s a weak start to the markets as investors await weak labor data from the labor department. Investors are also digesting the cautious data from the Federal Reserve about the economy. Members of the Federal Open Markets Committee are in agreement that the current health crisis could continue to weigh heavily on the U.S economy including on employment and inflation.

The Federal Reserve was also in agreement that the pandemic would pose a risk to the economy in the near-term. This has created an element of uncertainty in the markets, raising fears that equities could be highly overvalued at the moment. Despite the dampened mood, there are stocks that are doing well this morning and have the potential to do well all through the day. Some of the stocks that posed for major gains in the day are as below:

OpGen Inc [NASDAQ: OPGN]

OpGen Inc has started the day on a high note and continues the momentum that started earlier in the day. This follows the company’s announcement that its German subsidiary has received certification for its COVID-19 test kit.

Commenting on the development, CEO Oliver Schacht stated that the launch of this product as part of the company’s commitment to supporting its customers and distributors of COVID-19 test kits. The COVID-19 pandemic continues to ravage the world economy and testing is one of the ways that the pandemic is being tackled. In essence, by advancing its testing tools in the EU market, the company is uniquely positioned for growth.

AirNet Technology Inc [NASDAQ: ANTE]

This is another big mover this morning and started, gaining upside momentum in pre-market trading. The stock’s strong gains follow the company’s announcement that it had got a capital injection from Dragonpass Co.Ltd. The agreement between the two companies stated that the investment would be in installments and that the next installment would be around RMB 20 million.

CEO, Herman Guo stated that the company was happy with the investment and that it would use it to fuel growth, and open new opportunities. Given that the markets are currently choppy due to the COVID-19 pandemic, a capital injection is likely to keep investor interest in this stock high all through the day.

Xcel Brands Inc [NASDAQ: XELB]

Xcel Brands Inc is another top performer this morning. This comes after the company released impressive Q2 results. The company reported that it had improved its balance sheet in the quarter and that it was still on track to cut on expenses. Despite the COVID-19 pandemic, the company announced that it maintained positive cash flows in the quarter. This is likely to keep the stock gaining all through the day.

August 20, 2020
Stocks to Watch as Fears of a Renewed China/U.S Trade War Dampens Markets

The U.S. markets are headed for a weak start following renewed trade tensions between the U.S and China. President Trump has said that he canceled the weekend trade talks with China and added that he was not willing to talk to China right now. At the same time, the U.S government has warned American universities against the continued investment of endowment funds in Chinese stocks.

The administration told Universities that with more stringent measures against Chinese stocks coming, there was a risk that these stocks could be delisted wholesale from American exchanges. These moves by the U.S government have renewed fears that the February trade deal that led to a period of calm in trade between the two countries could be broken.

This also comes at a time when the world economy is still reeling from the effects of the COVID-19 pandemic. Despite the current market situation, there are stocks that are in the green pre-market. Some of the top performers ahead of markets are as below:

Hudson Ltd [NYSE: HUD]

Hudson Ltd is a top performer this morning and is up by 46.20%. This follows the company’s announcement of the acquisition of all outstanding shares by Dufry AG Group. Dufry already controls 57.4% of all the shares in the company. Under the agreement, Dufry will buy the remaining shares at $7.70, which is 50.1% of the price that Hudson was trading at in yesterday’s session.

Commenting on the deal, Hudson CEO Roger Fordyce stated that while the acquisition would reorganize the ownership structure, the integration that will follow will help the company better execute its business strategy. He added that the company’s strategy has not changed and that it would continue to put emphasis on its key business pillars. The deal will be subject to approval by the other Hudson shareholders.

9 Meters Biopharma [NASDAQ:NMTR]

9 Meters Biopharma is another top performer this morning and is up by 32% pre-market. This is a pure price action driven move, pushed by the updates from the Truist Securities Catalyst Conference call that happened yesterday.

Last week, the company had provided an update on the Phase 1b/2a trial for its potential treatment for short bowel syndrome. The company stated that it had done amendments to the primary endpoint for its phase 3 trial and that it was expecting multiple points of inflection in the next 18 months.

Blonder Tongue Laboratories Inc [NYSE:BDR]

Blonder Tongue Laboratories Inc is another top performer this morning and is up by 26%. This increased momentum comes days after the company announced that it had appointed Rick Briggs as a director. The company stated that Briggs was bringing in more than 3 decades of experience in developing tech solutions. It will be interesting to see how its current price action will play out in the day.

August 19, 2020
Stocks to Watch as Big Retailers Raise Market Optimism

It’s a good start to the markets this morning. All the major indices are in the green after major retailers posted strong revenue numbers. Earlier in the day, Walmart reported its Q2 earnings and they were much better than the consensus estimates.

The company reported that comparable same-store sales were up by 9.3% in the quarter. It also reported that e-commerce sales were almost double in Q2. The company attributed this to increased online shopping as consumers tried to avoid the risk of contracting COVID-19. Another retailer that has recorded strong results pre-market is Home Depot. The company has reported that Q2 sales grew by 23.4%, compared to a similar quarter in the last financial year.

Other stocks that have driven optimism are Amazon and Tesla after a positive outlook for both. Analysis by Needham market analysts show that Amazon could be worth as high as $5000 a share, and this has helped renew optimism in the stock, and the equity markets in general. In this environment of increased optimism, several stocks rallied pre-market and look set to continue these gains in the day. Some of the stocks likely to outperform this morning are:

MICT Inc [NASDAQ: MICT]

MICT Inc was a top performer pre-market and at one point was up by 93%. The stock’s strong performance is a reflection of improved market sentiment after the company announced that it had received its first big order for SmartCam. The order came after the company announced that it had a successful trial of the camera with a top Global Telematics Company. The company’s software brings together the latest technology in software and artificial intelligence and is targeting the $45 billion telematics market. Commenting on the deal, CEO Darren Mercer stated that, they expect to sell a sizeable portion of this product by the end of 2020. Given the prospects that the tech offered for the company in revenue growth, It could make significant gains in the day.

Forward Industries Inc [NASDAQ: FORD]

Forward Industries Inc was rallying all through the day and looks set to continue this momentum in the day. This is after the company announced that it had bought out Kablooe Design. The company announced that the deal would be a mix of debt and cash. Given that Kablooe is the 3^rd biggest maker of medical devices in the U.S., investors are looking forward to an increase in the intrinsic value of Forward Industries, and the same reflects in its stock price.

NovaBay Pharmaceuticals Inc [NYSE: NBY]

NovaBay was another top performer pre-market and from its price action, this momentum is set to continue in the day. This comes after the company announced that it was expanding its online distribution for Avenova. The company stated that Avenova, a facial spray confirmed to kill the SARS-Cov-2 virus would now be available online.

August 18, 2020
Stocks to Watch as Market Sentiment Points to a Strong Day

The markets have started the day in positive territory, and the S&P 500 is trading close to record highs. This comes amidst rising optimism that a COVID-19 vaccine is close. There is also the fact that market dynamics point to economic resilience despite the pandemic.

The markets are also looking forward to a host of economic data both on the economy and company earnings. On the economic front, some of the key data that the market is awaiting is on the home sales report and the FOMC minutes for the July meeting.

Home sales are largely expected to be high due to the low-interest rates environment that has prevailed for some time now. Looking into individual, stocks, companies that have announced strong quarterly earnings have shown the most potential pre-market, are likely to remain strong all through the day. Some of the biggest gainers this morning that are likely to remain strong all through the day are as below:

Comstock Mining Inc [NYSE: LODE]

Comstock was gaining upside momentum all through pre-market trading, and at one point was up by 86%. The rally follows the company’s release of strong Q2 results. The company reported a net income of $1.3 million, which represents an income of $0.05 per share. It’s significantly higher than the loss of $2.1 million that it reported in Q2 of 2019.

The company also reported a number of strategic moves that it made in the quarter. Some of them include investments in multiple high potential companies. For instance, the company made investments in Tonogold Resources Inc and Mercury Clean Up LLC. The company also announced that it had made a strategic decision to sell non-mining properties in Silver Springs. Given that Q2 has been difficult for a lot of companies, the swing to profitability points to fundamental strength, and could see LODE emerge as one of the day’s top gainers.

LMP Automotive Holdings Inc [NASDAQ: LMPX]

LMP Automotive Holdings Inc was up by 50% in pre-market trading and looks set to extend those gains in the day. Its bullish price momentum follows last week’s announcement of strong Q2 results. The company announced that quarterly revenues grew by 44% to stand at $7.7 million. The company also reported that gross profits for the quarter increased by 85% to stand at $1.5 million.

The company’s cash position was also stable in Q2, closing the quarter with a cash position of $17.7 million. CEO, Sam Tawfik stated that the numbers were a reflection of the huge opportunity that exists in the industry. With such prospects for good performance in the near-term, this stock could remain strong today, and in the foreseeable future.

August 17, 2020