1. U.S. Stock Market:
“U.S. stock-market benchmark traded firmly higher, with shares of Apple hitting a record, as investors digested a raft of economic reports and looked ahead to the start of the Federal Reserve’s policy meeting on Tuesday. The S&P 500 index SPX, +0.35% was up 9 points, or 0.4%, to 2,393, with seven of the 11 main sectors trading in positive territory. The Dow Jones Industrial Average DJIA, +0.06% which dipped in and out of negative territory, last traded 22 points, or 0.1%, higher at 20,961, pressured by a 1% decline in Dow component Boeing Co. BA, -1.15% as Apple Inc. and Microsoft Corp. MSFT, +1.42% shares led gainers. Meanwhile, the Nasdaq Composite Index COMP, +0.84% was up 49 points, or 0.8%, to 6,097, setting a fresh intraday high, briefly touching an all-time intraday high of 6,100.73, less than a week after first reaching the psychologically significant level of 6,000 on April 25.”
“U.S. equities opened higher on Monday after the government avoided a shutdown while Wall Street braced for a week filled with key economic data and earnings. The Dow Jones industrial average rose about 20 points shortly after the open, with Apple contributing the most gains. The S&P 500 gained 0.2 percent, with financials and information technology leading advancers. The Nasdaq composite outperformed, rising 0.35 percent.”
2. U.S. Bond Market:
“U.S. bond prices fell on Monday after a deal was reached to fund the government avoiding a shutdown. Congressional negotiators worked through the weekend to hash out an agreement on around $1 trillion in federal spending. The yield on the benchmark 10-year Treasury note was higher at around 2.287 percent, while the yield on the 30-year Treasury bond was also higher at 2.959 percent. Yields move inversely to prices.”
“US 10-year Treasury yields eased in the second half of last week. They slipped five basis points in the last three sessions, but ticked up today. However, it still is struggling to re-establish a foothold above 2.30%.”
3. FX Markets:
“The dollar advanced Monday against the Japanese yen as most European markets were closed for the May Day holiday. The greenback USDJPY, +0.14% climbed to ¥111.71 in recent trade, compared with ¥111.53 late Friday in New York. The euro EURUSD, +0.1377% edged higher, trading at $1.0909 Monday morning New York Time, after former Prime Minister of Italy Matteo Renzi won more than 70% of the vote in a primary election held over the weekend that elevated him to the leadership of Italy’s largest establishment political party. The British pound GBPUSD, -0.1853% traded at $1.2928, compared with $1.2949 late Friday.”
“The dollar shrugged off early modest losses in holiday-thinned Asian trading on Monday, while solid European inflation data underpinned the euro. The dollar index .DXY, which tracks the greenback against a basket of six rival currencies, edged up 0.1 percent to 99.144 .DXY. Against its Japanese counterpart, the dollar nudged 0.1 percent higher to 111.68 JPY=. The euro was steady on the day at $1.0894 EUR=, underpinned by solid euro zone inflation figures on Friday that analysts said could prompt the European Central Bank to take a more hawkish tone in its June statements.”
“Gold and silver prices are modestly lower in early U.S. trading Monday. There were no major geopolitical developments over the weekend to rattle the markets and that’s bearish for safe-haven gold. June Comex gold was last down $3.70 an ounce at $1,264.60. July Comex silver was last down $0.101 at $17.09 an ounce. While traders and investors worldwide remain generally upbeat at present, there are still geopolitical fires smoldering, including U.S. relations with North Korea and Russia. These issues are not going away anytime soon.”
“Crude futures eased Monday, knocked by concerns whether ongoing production cuts by producers in the Middle East and Russia was enough to offset the increasing U.S. oil being pumped into the still oversupplied market. Brent crude, the global oil benchmark, fell 0.3% to $51.90 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading down 0.2% at $49.22 a barrel.”
“Crude oil prices are under pressure due to the factors mentioned above. Prices are trading below their 20-day, 50-day, 100-day, and 200-day moving averages of $51.3, $51.4, $53.2, and $51.7 per barrel as of May 1, 2017. It suggests more pain for oil prices. Any rise in supplies from the US could pressure crude oil prices. For more on crude oil price forecasts, read the last part of the series.”
5. Market Movers:
Finally some good news for Twitter Inc (NYSE:TWTR) investors. The stock is up 5 percent after CEO Jack Dorsey said he bought 574,000 shares of the companylate Friday afternoon for about $9.5 million. Dorsey has purchased about 1 million shares to date in 2017. The company also announced a partnership with Bloomberg on Monday to launch a streaming video channel running 24 hours a day, seven days a week. That news was first announced by The Wall Street Journal. Bloomberg’s and Twitter’s streaming news network will be created just for the platform. The two previously worked together to livestream the presidential debate in September.
Medical Transcription Billing Corp (NASDAQ:MTBC), is the top gainer of the Healthcare sector for the current trading session, and added 83.82% to the share. On May 1, 2017, Medical Transcription Billing Corp (NASDAQ:MTBC), a leading provider of mHealth and cloud-based clinical and practice administration solutions, recently declared that it has successfully developed Health Information Exchange (HIE) interfaces for interoperability between its highly ranked clinical platforms and leading hospitals counting Torrance Memorial Medical Center and NYU Langone Medical Center.
Neurotrape Inc (NASDAQ:NTRP) and ITI Inc (NASDAQ:ITCI), which is subsidiary of Intra-Cellular Therapies, Inc., are trading down more than 40 percent in pre-market trading on Monday. Both the companies have negative news hurting investors’ sentiments on the stock. The U.S. FDA has sought additional information from Intra-Cellular on its findings in animal toxicology trials of lumateperone, while investors have questioned the positive mid-stage study results in respect of Neurotrape.
Jive Software Inc (NASDAQ:JIVE) is having an incredibly strong day in the market today, and for good reason. The company announced that it has entered into an agreement to be acquired. As a result, investor excitement ensued and the stock started climbing. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:56), JIVE is trading at $5.27 per share after a gain of $0.22 per share or 4.42% thus far today.
On Monday, Shares of GGP Inc (NYSE:GGP) lost -2.39% to $21.61. The share price is trading in a range of $21.51 – 22.13. The stock exchanged hands with 7.58 million shares contrast to its average daily volume of 6.05 million shares. GGP Inc (NYSE:GGP) have shown a high EPS growth of 52.70% in the last 5 years and has earnings growth of 22.00% yoy. Analysts have a mean recommendation of 2.20 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 -32.68% below its 52-week highs and is down -7.29% for the last five trades.
Genworth Financial, Inc. (NYSE:GNW) is moving lower ahead of the market open as the stock is gapping down -5.94%. A recent bid puts the equity at $3.75. A gap is a space between prices that occurs when the price of a stock makes a move down or up when there is no trading happening in between. Recent Price History: Genworth Financial, Inc. (NYSE:GNW)’s performance this year to date is 6.04%. The stock has performed -0.74% over the last seven days, 0.25% over the last thirty, and 17.78% over the last three months. Over the last six months, Genworth Financial, Inc.’s stock has been -9.01% and 41.26% for the year.
In Healthcare sector, shares of Valeant Pharmaceuticals Intl Inc (NYSE:VRX) were valued at $9.25 and moved -1.39% as of a recent closing trade. A total volume of 9.05 million shares were traded versus to average volume of 18.57 million shares. Valeant Pharmaceuticals International, Inc. (VRX) shares have been seen trading -75.97% off its 52 week- peak value and changed 11.31% from its 52 week-bottom price value. The “percentage off the 52-week high or low” refers to when a stock current price is relative to where it has traded over the last 52 weeks.
The stock of Costamare Inc (NYSE:CMRE) is a huge mover today! About 1.18M shares traded or 38.96% up from the average. Costamare Inc (NYSE:CMRE) has declined 27.99% since September 22, 2016 and is downtrending. It has underperformed by 37.50% the S&P500.The move comes after 5 months positive chart setup for the $686.30M company. It was reported on May, 1 by Barchart.com. We have $8.33 PT which if reached, will make NYSE:CMRE worth $41.18 million more.
“Shares of Ocwen Financial Corp (NYSE:OCN) OCN, +41.05% rocketed 41% in afternoon trade Friday, after the troubled financial services company announced a new proposed deal with New Residential Corp. that includes an upfront payment of $425 million to Ocwen and an equity stake. The stock was the biggest percentage gainer on the New York Stock Exchange. Volume spiked to over 22 million shares, or more than triple the full-day average. Ocwen said the new deal would convert New Residential’s existing rights to mortgage service rights (MSRs) to fully-owned MSRs. In addition, New Residential would also make an equity investment in Ocwen and become a 4.9% owner.”
The stock of BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) is a huge mover today! About 405,335 shares traded. BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) has risen 33.19% since September 22, 2016 and is uptrending. It has outperformed by 23.68% the S&P500.The move comes after 8 months positive chart setup for the $521.12M company. It was reported on May, 1 by Barchart.com. We have $7.01 PT which if reached, will make NASDAQ:BCRX worth $36.48 million more. Analysts await BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) to report earnings on May, 4 before the open. They expect $-0.19 EPS, up 38.71% or $0.12 from last year’s $-0.31 per share. After $-0.06 actual EPS reported by BioCryst Pharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts 216.67% negative EPS growth.
Shares of Mobileiron Inc (NASDAQ:MOBL) have seen the needle move 6.58% or $0.30 in the most recent session. The NASDAQ listed company saw a recent bid of 4.86 on 354672 volume. Now let’s take a look at how the fundamentals are stacking up for MobileIron Inc (MOBL). Fundamental analysis takes into consideration market, industry and stock conditions to help determine if the shares are correctly valued. MobileIron Inc currently has a yearly EPS of -0.78. 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.
Ultra Clean Holdings Inc (NASDAQ:UCTT) shares are moving today on volatility 5.20% or $1.00 from the open. The NASDAQ listed company saw a recent bid of 20.24 and 1092718 shares have traded hands in the session. Now let’s take a look at how the fundamentals are stacking up for Ultra Clean Holdings Inc (UCTT). Fundamental analysis takes into consideration market, industry and stock conditions to help determine if the shares are correctly valued. Ultra Clean Holdings Inc currently has a yearly EPS of 0.29. 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.
Wesco Aircraft Holdings, Inc. (NYSE:WAIR) shares are struggling to make any headway in today’s session. In early trading, the stock has dipped -17.90% on steady volume. The action so far has landed shares on the top loser list for the morning session.Wesco Aircraft Holdings, Inc. (NYSE:WAIR) is seeing declines so far in today’s trading session. Shares are moving -17.90% lower on solid volume. The stock has landed on the top loser list for the day according to Finviz data.
Needle moving action has been spotted in 8×8, Inc. (NASDAQ:EGHT) as shares are moving today on volatility -10.79% or $-1.57 from the open. The NASDAQ listed company saw a recent bid of 12.98 and 1327955 shares have traded hands in the session. Now let’s take a look at how the fundamentals are stacking up for Senomyx Inc (SNMX). Fundamental analysis takes into consideration market, industry and stock conditions to help determine if the shares are correctly valued. Senomyx 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.