STOCKS TELEGRAPH

Tag: Morning News

  • Stocks to Watch as Markets Await Retail Data

    Stocks to Watch as Markets Await Retail Data

    The markets are headed for a weak start to the day, as investors await retail sales data.  It is widely expected that July data will show a slowdown compared to June data.  The numbers are expected to show an increase of 2.1% compared to 7.5% in June. The slowdown is an indicator of the depletion of the bailout money that had driven the V-shaped recovery that the markets experienced in June.

    According to the Chief U.S Economist at Deutsche Bank, Matt Luzzetti, the end of these benefits puts a significant risk to consumer spending especially the low-income bracket. Amidst the risks posed by an end to the benefits, the markets are watching the impasse between Democrats and Republicans on an economic bailout. While Trump already signed an executive order on the economy, it is not enough to support a full-blown economic recovery.

    Despite the weakness in the economy as reflected in the anticipated retail data. There are stocks that recorded significant gains pre-market. If the data comes out positive and beats market expectations, these pre-market gainers could close the week in the money. Some of the biggest gainers ahead of markets are as below.

    Voxeljet AG [NYSE: VJET]

    Voxeljet AG looks set to start the day in gains. This comes after the company reported Q2 results. The company reported that total revenues in Q2 ir dropped by 22.5%.  It also reported that gross profit margins dropped slightly from 30.2% in Q2 of 2019 to 25.9%. The CEO Dr. Ingo Ederer stated that a few months ago, it got a large individual order for its 3D printers from a top U.S Electric car maker.  However, he added that the company’s revenues were hit by the COVID-19 pandemic. Nonetheless, the company announced that it had managed to improve its cash position through its partnership with the European Investment Bank. He added that they were looking forward to a stronger second half of the year.

    Taiwan Liposome Company Ltd [NASDAQ: TLC]

    This is another top performer this morning and is up by 95% pre-market. This follows the company’s announcement that it had submitted an IND for TLC19, an inhalable Liposomal Hydroxychloroquine in the treatment of COVID-19.  Given the global anticipation for a COVID-19 vaccine/cure, this stock is likely to rally all through the day on the strength of these new.

    Midatech Pharma Plc [NASDAQ: MTP]

    Midatech Pharma PLC is another top performer this morning and is a key stock to watch today.  This follows the company’s announcement of its registration statement with regards to a 12,695,445 share resale. This is likely to keep the stock active all day and close the week on a higher note.

  • Stocks to Watch Even as Market Sentiment Points to a Flat Trading Day

    Stocks to Watch Even as Market Sentiment Points to a Flat Trading Day

    The markets are set for a flat start this morning. On one hand, investors are looking forward to the entry of a COVID-19 vaccine, which could help rejuvenate the economy. Even before the vaccine comes, the markets are projecting an end to the lockdowns that have now become a part and parcel of life. However, there are concerns about a delay in a stimulus package deal between democrats and republicans.

    Yesterday, Treasury Secretary Steven Mnuchin stated that the White House would not relent in its push for the $1 trillion package that has been offered by republicans. The market will also be waiting for data from the Labor Department on weekly insurance claims for unemployment.

    The data is expected to paint the picture of a weakened economy, with the expectation that an additional 1.1 million Americans filed for unemployment claims last week. If these numbers come out worse, they could see the market flat-line or drop in Thursday’s session. Despite this mixed sentiment, there are stocks that are showing strong upside momentum this morning. Some of the top performers pre-market are:

    NTN Buzztime Inc. [NYSE: NTN]

    NTN Buzztime is a top performer this morning and is up by over 70% pre-market. This follows the company’s announcement that it had entered into a merger agreement with ImmunoTherapeutics LLC. The company stated that if shareholders approve the deal, Brooklyn will merge with a company that is wholly-owned by NTN Buzztime and that deal will be all-stock.

    If it is approved, the deal will be closed in Q4 of 2020. Commenting on the deal, NTN CEO Allen Wolff said that it was an indication of the company’s commitment to continually give value to shareholders. He added that the company was open to the idea of selling assets to facilitate the combined entity thrive. Commenting on the deal, Brooklyn CEO Ron Guido stated that the merger offered them an opportunity to have the company trade publicly and gain exposure to a wider number of investors. This deal could see the value of this stock rise in the day as the news filter into the market.

    Fat Brands Inc. [NASDAQ: FAT]

    Fat Brands Inc. is another top performer this afternoon and is up by over 200%. This follows news that the company had agreed to buy Johnny Rockets, a restaurant chain for $25 million. The company has stated that it is funding the deal in cash and from money in its securitization facility. The deal is expected to conclude next month. Given the potential revenues that the company could make, Fat Brands could end the day as a top performer.

    Sundial Growers Inc. [NASDAQ: SNDL]

    Sundial Growers Inc. is in the green pre-market and is up b 20%. This comes as investors await the company’s Q2 results at markets close. The strong momentum could be an indicator that investors expect the company to outperform projections. It will an interesting stock to watch in the day.

     

     

  • Stocks to Watch as Hopes of A COVID-19 Vaccine Drive Up Markets

    Stocks to Watch as Hopes of A COVID-19 Vaccine Drive Up Markets

    The stock markets are headed to a good start this morning. Analysts expect that with Russia’s move to approve a vaccine, the west will also move fast to release one. A vaccine surprise now, or in the near future, could send the markets rocketing as it would offer hopes of a full economic reopening.

    As the markets await such news soon, there is increased optimism that one will be available before the end of the year. This coupled with Trump’s executive orders on the economy are likely to support the markets today, and all through the week. As optimism rises, stocks that have good news such as earnings, technical developments, or major partnerships are likely to record major gains in the day. Some of the stocks that are showing potential for major gains in the day are as below:

    India Globalization Capital Inc. [NASDAQ:IGC]

    India Globalization Capital Inc. is a top gainer pre-market and is up by over 50%. This follows the company’s announcement that the FDA had approved its pain treatment. The company stated that its cannabinoid formula was meant for the treatment of muscle pains, neuropathic pain, and chronic pain. Pain management is big business and costs disability programs, and organizations through lost productivity, more than $500 billion annually. The company stated that it was seeking patents for the product, the delivery systems as well as the molecular modifications among other proprietary technologies. Given the impact that this new treatment will have on its bottom-line, the company could a top gainer all through the day.

    Summer Infant Inc. [NASDAQ:SUMR]

    Summer Infant Inc. is another top performer this morning and is up by 29%. These gains come hours after the company announced its financial results for the 2020 financial year. The company reported that net sales in the quarter stood a $38.23 million, a slight drop from the $46.4 million that it reported in Q2 of 2019. The company attributed this to the COVID-19 pandemic that affected retail availability an also created supplier constraints.  The company also reported that it was restructuring to cut on costs stating that G&A costs dropped from $8.1 million in Q1 to $6.7 million. The company also reported that in Q2, it had cash flows of $9.6 million compared to $2.4 million in a similar quarter a year ago.

    Cellular Biomedicine Group Inc. [NASDAQ:CBMG]

    Cellular Biomedicine Group Inc. is gaining pre-market and is up by 35%. This follows the company’s announcement that it had entered into a definitive agreement for a merger that would take it private. Under the deal, shareholders of CBMG will get $19.75 per common stock.

  • Stocks to Watch as Positive Sentiment Takes Hold in the Equity Markets

    Stocks to Watch as Positive Sentiment Takes Hold in the Equity Markets

    The U.S equity markets are headed for a positive start to the day. This comes after global markets show increased optimism despite China’s decision to sanction U.S lawmakers. On top of that, the markets are optimistic that the world is inching closer to a COVID-19 vaccine and possibly a cure.

    Yesterday, a U.S biotech company announced that clinical trials on its COVID-19 cure for people with severe respiratory problems had a 100% success rate.  This comes days after major biopharma companies announced that they were working on a COVID-19 vaccine manufacture and distribution. Besides hopes of a COVID-19 vaccine, market confidence has been bolstered by President Trump’s economic bailout executive orders. In this environment of optimism, stocks with positive news are gaining momentum. Some of the top performers ahead of markets are:

    Pfenex Inc. [NYSE: PFNX]

    Pfenex Inc. is a top performer pre-market and is up by 60%. This follows news that the company would be acquired by Ligand Pharmaceuticals Incorporated for $12 a share. The acquisition will either be in cash or in equity value at a cost of $438 million. On top of that, Ligand will offer an additional $2 per share as a Contingent Value Right totaling to $78 million if certain milestones are met by December 31st, 2021. The transactions is expected to be completed in Q4. These developments could reflect in the stock price when markets open.

    Oxbridge Re Holdings Limited [NASDAQ: OXBR]

    Oxbridge Re Holdings Limited is another top performer this morning and is up by over 100% pre-market. This follows the company’s release of strong Q2 results. The company announced that in Q2, its net income increased to $165,000 compared to a loss of $205,000 in a similar quarter in 2019.  The company’s premium income also increased due to a normalized recognition of premiums in 2020.  It also announced that all through the 2020 financial year, it had not made any losses. Commenting on the results, the company CEO, Jay Madhu stated that, they were optimistic about the core reinsurance business, and that they continued to evaluate growth opportunities to help diversify risks.

    Koss Corporation [NASDAQ: KOSS]

    Koss Corporation is another pre-market mover and is up by 25%. The stock’s strong performance is largely price-action driven. Yesterday’s price action points to strengthening upside momentum as bulls took control in a highly volatile day. Its pre-market price action has seen it clear out a recent high that was acting as an intra-day resistance. This could play a role in determining the stock’s price action when markets open.

     

     

  • Stocks to Watch as Market Sentiment Turns Positive

    The markets are up this morning driven by positive news on the economy and a possible COVID-19 vaccine. Over the weekend, president Trump announced that he had signed an executive order to help save the economy.

    This follows an impasse between democrats and republicans on the same. With the clarity this offers and the safeguards it creates in the economy, positive sentiment could rise in the market in the near-term. Market sentiment is also driven by the growing expectation of a COVID-19 vaccine within the year, or in early 2021. According to Goldman Sachs analysts, there could be one vaccine in distribution by end of Q1 of 2021. In this environment of increased optimism, a number of stocks look poised for a good start to the day. Some of the stocks that are highly bullish ahead of markets opening are as below:

    Trevena Inc [NASDAQ: TRVN]

    Trevena Inc is a top performer pre-market and is up over 50%. This follows the company’s announcement that it had got FDA approval for OLINVYK in the management of acute pain that is so severe that it needs intravenous opioids. The company added that the newly approved treatment will be available in the market in 3 months. Commenting on the approval, the CEO Carrie L. Bourdow has stated that OLINVYK’s approval was a huge step for Trevana in its goal of changing cutting-edge science into therapies that could help patients.  He added that they would be working fast in the goal of giving patients better treatment options.

    Majesco [NASDAQ: MJCO]

    This is another top performer this morning, and is up by 20%. This follows news that Thomas Bravo had raised its bid for the company to $729 million.  On Saturday, Thomas Bravo, a private equity firm stated that it had amended its bid to $16 a share, up from its earlier bid of $13.10. The bid comes a few days after ICE agreed on a deal to buy Thomas Bravo’s Ellie Mae. The improved deal could see the value of this stock rise in the day to reflect the improved deal.

    Bridgeline Digital Inc [NASDAQ: BLIIN]

    Bridgeline Digital is another top performer pre-market and is up by 10%. This follows the selection of its Celebros Search by a big lighting company for their site search solution. Commenting on the deal, CEO Ari Khan stated that Celebros search is a powerful tool that combines eCommerce tools to help drive sales online.  Khan added that the search makes use of machine learning to understand consumer needs and give accurate search suggestions. Give that the deal could improve the company’s bottom-line, it is likely to drive positive sentiment in the day.

     

  • Top Stocks to Watch as Job Cuts Data Weakens Markets

    Top Stocks to Watch as Job Cuts Data Weakens Markets

    The markets are headed for a weak start this morning due to data showing that job losses in July rose by 54%. According to data by Challenger, Gray and Christmas, the number of job cuts rose by 54% in July after declining for two months in a row. The data further showed that the job cuts were mainly due to the hard economic times occasioned by the COVID-19 pandemic. Others were due to severance following corporate buyouts. Overall, the data points to an economy that has been weakened by the pandemic, and market sentiment in pre-market trading is a reflection of it. Nonetheless, there are stocks that are gaining upside momentum this morning. Most of the top performers are stocks that have released strong quarterly results. Such companies have demonstrated an element of resilience despite the COVID-19 pandemic and inspire investor confidence. Some of the top performers this morning are as below:

    Groupon Inc [NASDAQ: GRPN]

    Groupon Inc is a top performer this morning and is up by 37% in pre-market trading.  This follows the release of Q2 results that point to revenues that have beat analysts’ estimates. The company reported revenues of $395.65 million, beating analyst consensus estimates by 115.07%. The company also beat analysts’ consensus estimates on earnings. It reported an earnings loss of $0.93 while analyst consensus was a loss of $2.63. This points to the company’s resilience in its core markets, even as the COVID-19 pandemic continues to impact on demand in the economy.

    Pius Therapeutics Inc [NASDAQ: PSTV]

    Pius Therapeutics Inc is a top performer pre-market and is up by 30%. Its pre-market gains are a continuation of days of upside momentum after the company announced that it would report Q2 results on August 10th.  The rally is an indicator of anticipation of strong results in the quarter.

    Celsius Holdings Inc [NASDAQ: CELH]

    Holdings Inc [NASDAQ: CELH] is a top performer this morning and is up by over 40% this morning. This follows the company’s release of strong Q2 results. The company reported that in the quarter it had an EPS growth of 300% to hit $0.04. This was much higher than the EPS loss of $0.07 that the company was anticipating. While revenues decreased by 28.83%, they still beat analyst estimates of $55,230,000 to stand at $62,685,000. Besides earnings, the company reported that it had entered into an agreement with J.D. Power for the sale of its subsidiary for $135 million. While announcing the sale, the company also reported that its board had agreed to a share repurchase of up to $75 million worth of shares. These news have sent the stock rocketing in pre-market trading.

     

     

     

  • Top Performing Stocks Even as Weak Private Payrolls Data Dampens Market Sentiment

    Top Performing Stocks Even as Weak Private Payrolls Data Dampens Market Sentiment

    The markets are headed off to a weak start this morning, as data points to a weak economy due to the COVID-19 pandemic. Yesterday, data on private payrolls showed that only 167,000 thousand jobs were created in July, falling short of the numbers that the markets were expecting.

    The data also revealed that those jobs created were not really new jobs, but a recovery of old jobs that were lost after the pandemic lockdown.  With such weak numbers for July, analysts are projecting that the next ADP numbers could be flat.  All this points to an economy that has not yet entered a recovery phase. There is also the fact that Democrats and Republicans are yet to agree on a bailout package for the economy. Despite this environment of weakness, there are stocks that are gaining upside momentum in pre-market trading. Most of the top performers are stocks that have reported stronger than expected earnings. Some of the top performers pre-market are as below:

    Bausch Health Companies Inc [NYSE:BHC]

    This is a top performer this morning and is already up by 30% in pre-market trading.  This comes after the company released Q2 results that pointed to a strengthening of its financial position. It reported that its international arm made up 53% of its total revenues.

    The company also reported that the Salix segment specifically contributed 24% to its total revenues, while its Ortho Dermatologics business generated about 7% of the business.  Besides revenues, one of the key highlights of the Q2 results is that the company was able to reduce its debt by 100 million in Q2 with money that it raised from its operations. The company also reported that it has no debt maturities for the next 3 years.

    Beam Therapeutics Inc [NASDAQ:BEAM]

    Beam Therapeutics Inc is another top performer pre-market and is up by 23%. This stock is in the green ahead of its investor conference that will take place today at 1 p.m. Eastern Time and will be live on the company’s website. Investors are looking forward to news on progress on the company’s projects especially on MGTA-117, a collaborative project between Beam Therapeutics and Magenta Therapeutics for people suffering from beta-thalassemia and sickle cell disease.

    Tivity Health Inc [NASDAQ:TVTY]

    Tivity Health Inc is another top performer this morning and is up by 21% pre-market. Its rally follows a strong Q2 that saw revenues beat analysts’ projections. Analysts were expecting it to report an EPS of $0.25, but it reported an EPS of $0.79. Not only did the results beat analysts’ expectations, it also was better than Q2 of 2019 when Tivity reported an EPS of $0.64. This is likely to support bullish sentiment in this stock in today’s session.

  • Top 3 Pre-Market Performers as Strong Earnings in Europe Lift Optimism in the Equity Markets

    Top 3 Pre-Market Performers as Strong Earnings in Europe Lift Optimism in the Equity Markets

    There is high optimism in the equity markets this morning driven by progress on economic bailout talks, and strong earnings by corporations across the Atlantic. Yesterday Democratic Senate Minority Leader Chuck Schumer stated that while they were still far off from a deal, they were still going.

    Across the Atlantic in Europe, several corporations have reported positive earnings with several others raising their outlook for the year. This points to the resilience of the global markets even as the COVID-19 pandemic continues to bite, and is a key factor to stock markets optimism.  Markets are also being supported by the upcoming trade discussions on August 15th between the U.S and China.  In this environment of improved market sentiment, here are some of the biggest gainers ahead of markets opening:

    Aerpio Pharmaceuticals Inc [NASDAQ:ARPO]

    Aerpio Pharmaceuticals Inc is a top performer this morning and is up by over 50%. The stock’s rally follows the company’s announcement of the 2nd clinical trial that will help test Razuprotafib in treating ARDS in people with mild to severe COVID-19.  The clinical trial is part of the MTEC-20-09-COVID-19 Treatment Military Infectious Disease Research Program (MIDRP).  The company announced that as a facilitation for the program, it will receive $5.1 million from MTEC. On its part, Aerpio stated that it would support the program with $2.8 million.

    MicroVision Inc [NASDAQ:MVIS]

    MicroVision is another top performer this morning and is up by over 16% in pre-market trading. The stock’s rally follows news that the company could be up for a buyout. According to the Motley Fool, CEO Sumit Sharma stated that they were considering offers from major companies in the auto and augmented reality industry.  While the CEO did not offer details on the amount being offered, analysts project that it could be close to the company’s present market cap. This seems to have excited the market if the stock’s pre-market price action is anything to go by.

    Acorda Therapeutics Inc [NASDAQ:ACOR]

    Acorda is another top performer pre-market and is currently up by 26%. The rally follows the release of Q2 results that beat analysts’ expectations.  The analyst consensus was an EPS loss of 0.46, while the company reported an EPS loss of $0.35. The company’s EPS loss also represented an improvement compared to the last financial year when its loss per share was $0.55.  The company attributed this improvement to a 7% increase in net sales, despite the challenges posed by the COVID-19 pandemic.

     

  • Stocks to Watch as Increasing COVID-19 Numbers Dampen Market Sentiment

    Stocks to Watch as Increasing COVID-19 Numbers Dampen Market Sentiment

    The markets are headed for a weak start this Tuesday. This follows news of a resurgence in COVID-19 numbers in the EU, the U. S and across the world. Already, Melbourne, Australia’s second-largest city is back in lockdown.  Another spike in COVID-19 cases could dampen hopes of a global economic reopening, and further, put a strain on the economy.

    The markets are also facing uncertainty due to the stalemate between democrats and republicans on the economic bailout. While Democrats have indicated that they are close to a deal with the Whitehouse, it is still uncertain of when such a deal will materialize due to a disagreement on the employment benefits extension. Despite this environment of a mixed outlook, there are stocks doing well pre-market mainly due to strong quarterly results. Some of the biggest performers ahead of markets opening are:

    Alterity Therapeutics Limited [NASDAQ:ATHE]

    Alterity Therapeutics Limited is one of the top performers pre-market and is up by over 200%. This comes after the company announced that it had got positive data for its MSA drug on animal testing. The company reported that data from Dr. Nadia Stefanova’s laboratory showed that ATH434 reduced a-synuclein pathology, and also led to improved motor performance.

    ATH434 is being developed as a treatment of Parkinson’s disease and MSA.  The research showed that the treatment was well-tolerated and showed effectiveness in a predictive animal model. Commenting on the research Alterity’s Chief Medical Officer, Dr. David Stamler stated that the animal testing data supports positive safety and pharmacokinetic clinical data that the company has released. This is a big deal and could see the stock rally all through the day.

    Danos Corporation [NYSE:DAC]

    Danos Corporation is another top performer pre-market and is up by 26%. This follows the company’s strong Q2 results.  The company reported an EPS of $1.71, slightly higher than the analyst consensus of $1.42. The company reported that its operating income increased to $116.8 million compared to $112.3 million in Q2 of 2019.

    The company stated that it was moving forward with its growth strategy and that it was cushioned from the market volatility. In its statement, the company also added that it was fully committed to technological innovation in a bid to satisfy its customers. As its strong quarterly results filter into the market, it could open the day in the green.

    Ossen Innovation Co Ltd [NASDAQ:OSN]

    Ossen Innovation Co is another top performer this morning and is up by 21% in pre-market trading.  There is no major news around this company at the moment, which makes it price action-driven. The stock has been gaining steadily, with volumes rising. This rally could be a breakout on a surge in volumes.

  • Stocks to Watch as Corporates Raise Estimates for Q3

    Stocks to Watch as Corporates Raise Estimates for Q3

    It’s a good start for the markets today. According to data by Factset, big companies raised their Q3 estimates by 1.1% in July. Historically, companies usually cut their estimates at the start of the quarter, which makes the current move an exception.  Data shows that in the past 5-years, the average decline in bottom-up earnings per share at the start of a quarter is 2.8%. The increased estimates point to higher confidence in the corporate world that the economy could be getting better. That’s because such numbers mean that stocks are fairly priced and that there is room for growth.  Putting this in the context of the wider market, the higher estimates are related to the government’s move to support the economy through the CARES Act. In this environment of increased optimism, a number of stocks have gained significant upside momentum in early morning trading. Some of the biggest gainers pre-market are as below:

    Vislink Technologies Inc [NASDAQ:VISL]

    This stock is on a roll pre-market and is up by over 500%. This rally is driven by two key factors. The first one is the increased optimism in the market, as shown by the higher quarterly estimates. Secondly, is the company’s reverse 6-1 stock split. The stock split will come into effect today under number 92836Y 300.  CEO, Mickey Miller stated that they had made major progress in turning around operations by bringing in new leadership. He added that the stock split is a step towards keeping its listing on the NASDAQ and continued value growth.

    Highway Holdings Limited [NASDAQ:HIHO]

    Highway Holdings Limited is another top performer pre-market and is up by over 100%. This is largely momentum-driven as there is no major news happening around this company at the moment. Late last week, the company announced that it was delaying the release of 2020 financial results due to the COVID-19 pandemic. However, the company stated that the delay will not impact its ability to file proxy statements and it’s AGM that will take place in October. Going by its current momentum, a positive start to the markets could see it make significant gains in the day.

    Immunic Inc [NASDAQ:IMUX]

    Immunic Inc is another top performer pre-market and is up by over 30%. Its momentum is driven by news of positive top-line data from the phase 2 study of EMPHASIS trial for its treatment called IMU-838. The study showed that the treatment met its primary endpoints in safety and tolerance. Besides positive treatment data, the company reported Q2 results that show that it in the quarter, it had cash and cash equivalents of $48.6 million.