1. US Stock Market:
“U.S. equities traded mixed on Wednesday, with IBM sending the Dow Jones industrial average lower and Morgan Stanley leading financials after posting quarterly results. The Dow traded about 62 points lower with IBM accounting for 53 of those points. IBM posted mixed quarterly results as earnings beat but sales fell for the 20th straight quarter on a year-over-year basis. The stock fell more than 5 percent. The S&P 500 gained about 0.1 percent, with consumer discretionary leading advancers. Financials also rose after Morgan Stanley posted a strong first-quarter as its fixed-income trading revenue doubled year over year.”
“U.S. stocks rose on Wednesday, with consumer-discretionary shares leading the session’s advance while shares of International Business Machines Corp. were largely responsible for a decline in the Dow industrials. The Dow Jones Industrial Average DJIA, -0.50% fell 55 points, or 0.3%, to 20,468, with IBM by far the biggest drag on the blue-chip average. The S&P 500 SPX, -0.13% rose 2 points, or 0.1%, to 2,344, with consumer-discretionary and health-care stocks leading gainers. The Nasdaq Composite COMP, +0.31% rose 29 points, or 0.5%, to 5,878, up 0.5%., led higher by shares of Intuitive Surgical Inc. and Facebook Inc.”
2. US Bond Market:
“U.S. government debt prices were lower on Wednesday as investors await fresh economic data. The yield on the benchmark 10-year Treasury notes, which moves inversely to price, was higher at around 2.204 percent, while the yield on the 30-year Treasury bond was also higher at 2.867 percent. The two yields hit their lowest levels since November in Tuesday’s session. The benchmark yield hit its lowest level since November on Tuesday.”
“Treasury yields were higher early Wednesday as an absense of major economic or political news led to an uptick in risk appetites among investors. The yield on the 10-year Treasury was 2.20% at 8:30 a.m. ET after trading up to 2.22% at 8 a.m. ET. Tuesday, the yield fell to 2.18%, the lowest point in five months.”
3. FX Markets:
“The US dollar rose against its major counterparts in pre-European deals on Wednesday. The greenback recovered to 108.75 against the yen, 1.2812 against pound and 1.0713 versus the euro, from its early lows of 108.38, 1.2860 and 1.0735, respectively. The greenback firmed to a weekly high of 0.7515 versus the aussie and a 9-day high of 1.3411 against the loonie, off its early lows of 0.7563 and 1.3374, respectively.”
“The euro is little changed at 1.0722 against the dollar after data showed that Euro-area inflation slowed. Annual inflation came in at 1.5% in March, down from the 2% reading in February, according to Eurostat. Transport fuels (+0.48%) had the biggest upward impact, while telecommunication and package holidays (both -0.09%) had the biggest downward impact. The British pound is little changed at 1.2854 against the dollar, but is holding on to its gains from Tuesday. “GBP/USD is backing away from the 1.2860 high from earlier in the session today, but after a 300-point jump in GBP/USD since yesterday the market is poised to take a breather,” Kathleen Brooks of City Index wrote in an email. The Russian ruble is little changed to 56.2039 per dollar, while Brent crude oil, the international benchmark, is little changed at $54.89 per barrel. The Japanese yen is down by 0.5% at 109.02 per dollar.”
“Gold prices are lower in early U.S. trading Wednesday, as risk aversion in the world marketplace has receded just a bit. Some chart consolidation and profit-taking from the shorter-term futures traders are also featured in gold and silver markets after both scored five-month highs earlier this week. June Comex gold was last down $9.10 an ounce at $1,285.00. May Comex silver was last down $0.027 at $18.245 an ounce.”
“Crude oil levels dipped -$0.76 yesterday with a 52.09 low, a minor downward correction after API report showed that U.S. crude stockpiles fell less than expected in the latest week while gasoline stockpiles grew unseasonably, but markets remained bloated. On Wednesday, oil showed stability with 52.61 high after OPEC Secretary-General Mohammad Barkindo mentioned that all oil producers taking part in a supply-cut treaty are committed to deliver global inventories down to the industry’s five year average and restoring stability to the market. OPEC and non-OPEC producers agreed in December to cut supplies for six months, helping lift oil prices to about $55 a barrel after a two-year slump. OPEC will review policy for the second half of this year at a May 25 meeting.”
5. Market Movers:
Rite-Aid Corporation (NYSE:RAD) shares fell Wednesday after a report that the U.S. Federal Trade Commission was considering a lawsuit to block the company’s about $7 billion takeover by Walgreens Boots Alliance Inc. Capitol Forum, a trade publication, reported that the FTC was considering a lawsuit. Rite-Aid shares were down 3.9 percent to $4.30 at 1:34 p.m. in New York. Shares of Fred’s Inc., which would acquire up to 1,200 stores and other assets as part of a divestiture plan, fell as well, losing 5.6 percent to $14.21.
Shares of Cleveland BioLabs, Inc. (NASDAQ:CBLI) are moving on volatility today 50.43% or $1.76 from the open. The NASDAQ listed company saw a recent bid of 5.25 and 8944991 shares have traded hands in the session. Now let’s take a look at how the fundamentals are stacking up for Cleveland Biolabs Inc (CBLI). Fundamental analysis takes into consideration market, industry and stock conditions to help determine if the shares are correctly valued. Cleveland Biolabs Inc currently has a yearly EPS of -0.24. This number is derived from the total net income divided by shares outstanding. In other words, EPS reveals how profitable a company is on a share owner basis.
Whiting Petroleum Corporation (NYSE:WLL) shares are displaying elevated levels of volatility in today’s session. After a recent check, shares have been spotted at $8.32 showing a change in the session of -4.91%. Analyst Views: Based on data provided from analysts polled by Thomson Reuters, Whiting Petroleum Corporation has a current consensus target price of 13.60. The current consensus analyst recommendation is sitting at 2.50 on company shares. Investors will likely be tracking any consensus estimate changes heading into the next earnings period.
Session activity on Glu Mobile Inc. (NASDAQ:GLUU) stock is placing it on today’s most active list. After a recent spot-check, the stock has touched $2.39 which represents a change from the open of 3.91%. Company shares have been seen trading -21.38% off of the 52 week high and 38.15% away from the 52 week low. Narrowing in, the stock is at a distance of -7.36% from the 50 day high and 29.19% off of the 50 day low. Analyst Recap: Covering sell-side analysts have recently weighed in on shares of Glu Mobile Inc. (NASDAQ:GLUU). At the time of writing, the First Call consensus price target for the company is $2.66. The current consensus recommendation provided by covering analysts is 2.40.
The stock of Ctrip.Com International Ltd (ADR) (NASDAQ:CTRP) is a huge mover today! About 1.20 million shares traded. Ctrip.Com International Ltd (ADR) (NASDAQ:CTRP) has risen 10.51% since September 12, 2016 and is uptrending. It has outperformed by 2.03% the S&P500.The move comes after 9 months positive chart setup for the $25.81B company. It was reported on Apr, 19 by Barchart.com. We have $51.89 PT which if reached, will make NASDAQ:CTRP worth $1.03 billion more.
NewLink Genetics Corp (NASDAQ:NLNK) shares are moving today on volatility 12.75% or $2.04 from the open. The NASDAQ listed company saw a recent bid of 18.04 and 626203 shares have traded hands in the session. Now let’s take a look at how the fundamentals are stacking up for NewLink Genetics Corp (NLNK). Fundamental analysis takes into consideration market, industry and stock conditions to help determine if the shares are correctly valued. NewLink Genetics Corp currently has a yearly EPS of -2.94. This number is derived from the total net income divided by shares outstanding. In other words, EPS reveals how profitable a company is on a share owner basis.
Session activity on Lam Research Corporation (NASDAQ:LRCX) shares bumps the stock on today’s most active list. After a recent spot-check, the stock has touched $135.64 which represents a change from the open of 1.33%. Company shares have been seen trading 4.24% off of the 52 week high and 91.25% away from the 52 week low. Narrowing in, the stock is at a distance of 4.24% from the 50 day high and 20.28% off of the 50 day low.Covering sell-side analysts have recently weighed in on shares of Lam Research Corporation (NASDAQ:LRCX). At the time of writing, the First Call consensus price target for the company is $134.10. The current consensus recommendation provided by covering analysts is 1.90.
Dynegy Inc. (NYSE:DYN) has created a compelling message for traders in the most recent trading. That message has grown stronger as the technical chart setup has developed into a more composite picture for the stock. This is the breakdown as we see it. There’s only one thing better than one tool when trading stocks and that is two tools. For many trading is all about fundamentals – their one tool to rule them all. But people in this camp miss out when they ignore the power of technical charts. Use them in in addition to the fundamentals, and you become near-unstoppable.
Shares of Finisar Corporation (NASDAQ:FNSR) have been moving lower in early trading. At the time of writing, the stock had slid down -7.80% since the open. This downward move has put the stock in the top loser category moving into the second half of the trading period.Finisar Corporation (NASDAQ:FNSR) is seeing declines so far in today’s trading session. Shares are moving -7.80% lower on solid volume. The stock has landed on the top loser list for the day according to Finviz data.
Shares of ING Groep N.V. (NYSE:ING) are experiencing unusual volume during today’s trading. While the stock price moved along with the volume change, shares are touching $15.19 at the time of writing. The day’s total volume of 31680885 this morning is in contrast from the three-month daily average of 3111.47K. When we divide the current volume by the three-month average volume, we get a relative volume of 15.68. Why is this important? Trading volume is a hugely important consideration for any investor. By watching how many shares are trading hands and looking for any changes in that activity, trading opportunities can be spotted along with a deeper understanding of the reliability of other indicators on the stock.
International Business Machines Corp. (NYSE:IBM)‘s stock tumble is knocking the Dow Jones Industrial Average into negative territory Wednesday, while the other major market indexes rally. IBM’s stock IBM, -5.43% slumped or $8.94, or 5.3%, to $161.11 in active morning trade to a 4 1/2-month low, after the technology giant reported late Tuesday first-quarter revenue that missed expectations.
Soligenix, Inc. (OTCMKTS:SNGX) shares are gapping higher 38.52% pre-market with a price of $3.97 on the stock. Investors will be keeping a close eye on the stock during this session to see if the upward trend will remain throughout the day. Technicals At a Glance: Soligenix, Inc. (OTCMKTS:SNGX)’s RSI (Relative Strength Index) is 74.16. RSI is a technical indicator of price momentum, comparing the size of recent gains to the size of recent losses and establishes oversold and overbought positions. Soligenix, Inc.’s 20-Day Simple Moving Average is 57.92%. Extending back, their 50-Day Simple Moving Average is 65.80%, looking even further back, their 200-Day Simple Moving Average stands at -8.84%.
The stock of ArcelorMittal SA (ADR) (NYSE:MT) is a huge mover today! About 5.07M shares traded. ArcelorMittal SA (ADR) (NYSE:MT) has risen 18.64% since September 12, 2016 and is uptrending. It has outperformed by 10.15% the S&P500. The move comes after 9 months positive chart setup for the $23.42B company. It was reported on Apr, 19 by Barchart.com. We have $7.91 PT which if reached, will make NYSE:MT worth $1.64 billion more.
Applied Materials, Inc. (NASDAQ:AMAT) traded at a yearly high level of $39.81 during the last trading session. The last session’s volume of 6.05 million shares was lower than its average volume of 8.14 million shares. The stock, after opening at $37.79, closed at $38.05 by scoring 0.08%. The total market capitalization remained at $41.64 billion. Applied Materials, Inc. (NASDAQ:AMAT) have shown a high EPS growth of 1.30% in the last 5 years and has earnings growth of 160.50% yoy. Analysts have a mean recommendation of 1.90 on this stock (A rating of less than 2 means buy, “hold” within the 3 range, “sell” within the 4 range, and “strong sell” within the 5 range). The stock appeared -4.42% below its 52-week highs and is down -2.08% for the last five trades.
Sunshine Heart, Inc. (NASDAQ:SSH) announced the pricing of an underwritten public offering of units for gross proceeds of $8.0 million, prior to deducting underwriting discounts and commissions and offering expenses payable by Sunshine Heart. The offering is comprised of Class A Units, priced at a public offering price of $1.00 per unit, with each unit consisting of one share of common stock and one five-year warrant (each, a “warrant”) to purchase one share of common stock with an exercise price of $1.10 per share, and Class B Units, priced at a public offering price of $1,000 per unit, with each unit comprised of one share of preferred stock, which is convertible into 1,000 shares of common stock, and warrants to purchase 1,000 shares of common stock, also with an exercise price of $1.10 per share. Sunshine Heart, Inc. (NASDAQ:SSH) shares fell -17.68% to $1.35 on Tuesday.
Analysts forecast that CalAmp Corp. (NASDAQ:CAMP) will report $88.16 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for CalAmp Corp.’s earnings. The highest sales estimate is $90 million and the lowest is $86.67 million. CalAmp Corp. posted sales of $91.15 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.3%. The business is expected to report its next quarterly earnings report on Tuesday, June 27th. CalAmp Corp. (NASDAQ:CAMP) traded up 13.4101% during trading on Wednesday, reaching $18.0322. 1,073,091 shares of the company’s stock traded hands. The firm has a market capitalization of $638.56 million, a PE ratio of 360.6440 and a beta of 1.36. CalAmp Corp. has a 1-year low of $12.13 and a 1-year high of $18.19.
The stock of ImmunoGen, Inc. (NASDAQ:IMGN) is a huge mover today! About 1.66M shares traded. ImmunoGen, Inc. (NASDAQ:IMGN) has risen 20.45% since September 12, 2016 and is uptrending. It has outperformed by 11.96% the S&P500.The move comes after 7 months positive chart setup for the $327.12 million company. It was reported on Apr, 19 by Barchart.com. We have $3.97 PT which if reached, will make NASDAQ:IMGN worth $26.17M more.
According to MarketWatch, New York-based company will pay the dividend to shareholders of record as of March 31. “We have sufficient cash flow and confidence in the future to give us comfort that we can afford to fund both a dividend and our ongoing acquisition program,” CEO Saagar Govil reportedly said in the report. Last week, Cemtrex Inc. (NASDAQ:CETX) bagged multi-million dollar order from its newest client HBH GmbH. The latter tapped on Cemtrex to build electronic components for high-power HF amplifiers to be used in the FRIB particle accelerator at Michigan State University.
Adeptus Health Inc (NYSE:ADPT) shares have fallen $0.22 per share, or 15%, on Wednesday morning after Wexford Capital did a 180. Just a few weeks after the fund disclosed a 1.4 million share position (8.4%) stake in Adeptus, SEC filings now show that Wexford has completely exited out of its position and no longer owns any shares in the emergency room operator. Given that the news Wexford initiated a position likely caused a short squeeze and improved sentiment, some traders are afraid that Wexford completely leaving could hurt sentiment. In terms of bearish sentiment, many smart money funds are rather pessimistic. 83% of the stock’s float is short. Shares of the stock are down 80% year-to-date.
Traders are keeping a close eye on Chesapeake Energy Corporation (NYSE:CHK) on Wednesday after Stephen Richardson of Evercore ISI added the oil and gas producer to the firm’s ‘Tactical Outperform List’. Richardson is bullish due to Chesapeake’s ~20% year-to-date pull back and relatively low expectations by many market traders. Furthermore, the analyst thinks that incremental wells from Anadarko and other basins could lead to more production and improve sentiment for the stock. Evercore has a $8 target price.