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Tag: NYSE: JE

  • Top Pre-Market Performers Even as Fed Chairman Statement Dampens Markets

    Top Pre-Market Performers Even as Fed Chairman Statement Dampens Markets

    The markets are headed for a weak start to the day, as all the key indices are in the red pre-market.  This follows the announcement by the Fed chairman Jerome Powell that the Federal Reserve had done everything it could to try and hold the economy together.

    The announcement by the Fed Chairman was backed by other policymakers who also called for a fiscal stimulus from the government to help rejuvenate the economy. While a stimulus package can help breathe life into the economy, investors are not optimistic that it can happen any time soon. The pessimism is compounded by the fact that COVID-19 cases are not slowing down. COVID-19 deaths in the U.S have hit 200k and counting.

    Across the Atlantic, in Europe, some economies are going back into lockdown. Essentially this means that the world is not close to a solution and the economy may take longer to recover. This is weighing heavily on the markets and are likely to impact on stocks in the day and could see most trade-in negative territory. Nonetheless, there is some good news in the market that is pushing up some stocks pre-market.

    The governor of California has announced that the State will ban all carbon-emitting vehicles by the year 2035. This announcement has sent renewable energy and EV stocks rocketing pre-market. Besides EV stocks, companies with positive news are rocketing too, as investors chase gains in a sluggish market. Some of the top performers this morning are as below:

    Sunworks Inc [NASDAQ: SUNW]

    Sunworks Inc is a top performer pre-market and is up by over 500%. This company deals in photovoltaic systems and is based in California. This makes it uniquely positioned to grow its market share as structural changes brought about by this policy drive up the demand for e-mobility. The company also stands to benefit from the fact that the world is increasingly shifting towards renewable energy as the effects of climate change become more apparent.

    Just Energy Group [NYSE:JE]

    Just Energy Group Inc is a top performer pre-market and is up by over 80%. This follows the company’s announced an update for its closing plan of arrangement.  The company stated that it had got approval from the FERC for this transaction that is aimed at recapitalizing the company. This seems to have created lots of excitement in this stock in early morning trading.

    The E.W Scripps Company [NASDAQ: SSP]

    This stock is a top performer this morning and is up by over 50% pre-market. This follows the company’s announcement that it’s an affiliated company was given the national Emmy award at the National Academy of Television Arts & Sciences.

  • Why Just Energy Group (NYSE: JE) Soared Today?

    Why Just Energy Group (NYSE: JE) Soared Today?

    Just Energy Group Inc. (NYSE: JE) shares went up 3.57% as it gains +0.01 on Monday. A retail energy provider has announced that it is planning to close the previously announced plan of arrangement of the company, but the company is one step away to proceed with its plan. It is waiting for the approval of the Federal Energy Regulatory Commission (FRC).

    Earlier, the company has received the permission of all the stakeholders of the company and got the final court order from the Ontario Superior Court of Justice. Now the company can proceed with the Plan of Arrangement now.

    Just Energy Group Inc. believes that after executing this recapitalization plan, the company will be able to continue its operation as an independent company. The recapitalization plan will lead the company to sustainable growth.

    Shares of Just Energy Group (NYSE: JE) traded up 3.57% at $0.30 during the trading session of Friday. It has a 52-weeks low and high range of $0.24 and $93.72, respectively. Just Energy Group has moved up 23.17% from its 52-weeks low and traded down -99.68% from its 52-weeks high. This company had a trading volume of 8.73 million as compared to the average volume of 1.56 million.

    The recapitalization plan includes converting about $320 million in convertible debt and preferred shares into equity, a new $75 million equity investment, and the extension of the due date for about $410 million in debt and credit facilities. The company has also disclosed that it will continue its operations normally for its suppliers, employees, and customers.

  • 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.

     

  • Stocks to Watch amidst Mixed Market Sentiment after Fed Policy Framework

    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.