STOCKS TELEGRAPH

Tag: NASDAQ: CNDT

  • 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.

  • Top 3 Stocks Closing the Week on a High Note Despite Sluggish Market Sentiment

    Top 3 Stocks Closing the Week on a High Note Despite Sluggish Market Sentiment

    It’s a mixed day in the markets this afternoon, and the key indices are in negative territory.  The NASDAQ is down by 104 points, while the Dow and the S&P 500 are also showing signs of weakness. The current environment is attributable to a number of factors.

    First is the news that the number of job cuts in the U.S rose by 54% in July.  This is an indicator of a weak economy, due to the coronavirus pandemic. Then there is the ongoing back and forth between democrats and republicans over an economic bailout. On the other hand, there is the fact that the markets have overall been surging for months now despite the pandemic. This has created fears of overvaluation in the market. It is in this environment that stocks that are recording strong quarterly news have gained. Such stocks are a reflection of companies that are resilient enough to make money despite the pandemic. Some of the top performers this afternoon are as below:

    OpGen Inc [NASDAQ:OPGN]

    OpGen is a top performer this afternoon and is up by over 60%. This follows the company’s update of its financial results for Q2 of 2020. The company recently announced that it would be releasing its Q2 results on the 12th of August.

    The excitement follows a number of developments that the company had made in July.  At the time, the company announced that it had entered into co-promotion deal with Menarini Sillicon Biosystems for the sale of the Meharini Cell search system and other COVID-19 related products.

    The company also stated that it had gained access to an extra 5 million Euros in debt for research on COVID-19. It further announced that as of June 30th, 2020, its cash reserves stood at $12.8 million, slightly higher than the $11.5 million that it had reported a quarter earlier. With such developments in the quarter, the market will be expecting strong revenues and earnings from this company.

    Hutting Building Products Inc [NASDAQ: HBP]

    This is a top perfumer this afternoon and is up by 55%. This follows news that the company had received a buyout proposal from Mill Road Capital at $2.75 per share.     Mills is already the largest shareholder in Hutting Building and wants to acquire 100% of it at a 67% premium. The deal has seen the stock rally to reflect the value that the potential buyer is offering.

    Conduent Incorporated [NASDAQ: CNDT]

    Conduent Incorporated is another top performer this afternoon and is up by 73%. This comes after the company reported stronger than expected Q2 results. The company announced that its total contract value for the quarter rose by 92% compared to the previous quarter to hit $623 million. The company partly attributed its strong performance to its government-related business.