STOCKS TELEGRAPH

Tag: NASDAQ: PRPO

  • Top Gainers as Earnings Drive Market Momentum

    Top Gainers as Earnings Drive Market Momentum

    The stock markets are up this afternoon, with the NASDAQ, Dow, and S&P 500 all in the green. This comes as investors await earnings of several major corporations after markets close.  Some of the companies that will release their earnings after markets are Disney, Beyond Meat, and Nikola. Expectations are high that if these companies record good results, it could be a signal to economic resilience despite the coronavirus.

    The markets are also driven by optimism that democrats and republicans are moving closer to a deal on a COVID-19 economic bailout. Yesterday, House Speaker Nancy Pelosi met with the White House Chief of Staff Mark Meadows and Senate Minority Leader Chuck Schumer to discuss unemployment benefits.  In this environment of increased optimism, there are stocks that are gaining by very high margins. Some of the top gainers this afternoon are as below:

    Zovio Inc [NASDAQ:ZVO]

    Zovio Inc is a top gainer this afternoon and is up by 22.85%.  The stock’s rally comes after the company reported strong Q2 results. The company reported that Q2 earnings stood at $0.24, beating analysts’ consensus estimates of $0.11 by 118.18%. The company reported that its non-GAAP net income rose to $8 million compared to a loss of $4.6 million that it reported in Q2 of 2019 when it had a non-GAAP income of $4.6 million. The company attributed its strong performance to a strong enrollment that beat expectations.  It also attributed the results to increased innovation in its software services.  CEO Andrew Clark stated that the firm was working with the University of Arizona to create an entity that will be powered by Zovio’s technologies. With such innovation and continued resilience in a pandemic, this stock remains a must-watch in the near-term.

    iRhythm Technologies Inc [NASDAQ:IRTC]

    iRhythm is another top performer this afternoon and is up by 26% at the time of writing. It’s upside momentum follows the company’s comments on Medicare and Medicaid proposed schedule for 2021. The company noted that the proposed rule that was set yesterday doesn’t include all the needed information, more specifically the Practice Expense RVU. iRhythm added that it would offer additional information based on the details provided by the CMS.

    Precipio Inc [NASDAQ:PRPO]

    Precipio Inc is another top gainer this afternoon and is up by over 30%. Its huge gains come after the company announced that it had launched antibody tests for COVID-19 in its labs. It stated that physicians will be in a position to do tests by simply drawing a blood sample from the patient.  CEO Ilan Danieli stated that the company was committed to making moves that will drive up customer and shareholder value.

  • Top 3 Stocks to Watch As Weak GDP Numbers Sink Markets

    Top 3 Stocks to Watch As Weak GDP Numbers Sink Markets

    The markets continue to trade in negative territory, due to the weak GDP economic data released earlier in the day.  The data is indicative of an economy that has been significantly hit by the COVID-19 pandemic. Given that there is no vaccine or cure available, it indicates that in the near-term, demand could remain low, and most companies might continue reporting lower financial numbers.

    Key indices are already in the red, with Dow 30 taking the biggest hit to trade lower by over 1%. However, even in this environment, there are stocks that are in significant gains. Some of the biggest gainers this afternoon are as below:

    Taoping Inc [NASDAQ:TAOP]

    Taoping Inc is one of the biggest gainers this afternoon and is up over 400%. This stock’s massive gains come after the company announced that it had upgraded its Taoping Smart Cloud platform and that it was now in the market. The company stated that the upgraded platform has been optimized to handle transaction systems, data monitoring, and ad publishing among other features.

    The company added that with the platform, it was in a position to offer better user experience and flexibility. The kicker is that the platform will help the company expand its partner model. CEO Jianghuai Lin has stated that the platform will help boost the company’s cash flows by a significant margin.

    Precipio Inc [NASDAQ:PRPO]

    This is another big gainer in the day and is up by over 290%. This rally follows the company’s announcement that it had launched a commercial COVID-19 antibody test. The company’s management stated that it had entered into a partnership with ADS Biotech for the distribution of COVID-19 serology antibody tests. The company further stated that it will do a test-run in August. CEO Ilan Danieli stated that the company was happy with the partnership and that it would help with the distribution of the test, both in the U.S and globally.

    DIRTT Environment Solutions Ltd [NASDAQ:DRTT]

    DIRTT Environment Solutions Ltd is another top gainer this afternoon and is up by over 60%. This comes after the company reported strong Q2 financial results.

    The company stated that revenues for the quarter stood at $42.2 million. It also reported gross profit margins of 33.7% and a cash balance of $44.6 million. The company’s management stated that the strong results were the result of the continuous implementation of its strategic plan. CEO Herman Miller stated that they were looking to further strengthen their commercial capabilities. He added that early in the month, they launched Make Space for Possibilities™, a strategic marketing campaign for this goal.