The stock market climbed sharply on Thursday, responding well to favorable earnings results from several corners of the market. Major benchmarks were up 1% to 2%, with particularly good performance from the Nasdaq Composite thanks to the tech sector’s outperformance during the day. Yet some stocks suffered from bad news that cast doubt on companies’ ability to benefit from generally favorable business conditions. MGM Resorts International (NYSE:MGM), Arch Coal (NYSE:ARCH), and LendingTree (NASDAQ:TREE) were among the worst performers on the day. Here’s why they did so poorly.
MGM falls despite Cotai opening
Shares of MGM Resorts International lost almost 9% after the company reported its first-quarter financial results. The casino giant said that net revenue was down 1% compared to year-earlier levels, with revenue per available room falling 4.3% at its key Las Vegas Strip properties. Casino revenue was up just 2%, and CEO Jim Murren pointed to the likelihood of continued weakness at Mandalay Bay in the wake of the tragic events that happened there last autumn. Disruptions at Monte Carlo and the cancellation of a major boxing event will also weigh on future results. Even with solid performance from its stake in MGM China, investors aren’t certain that the casino resort operator’s business strategy will yield the results they want to see in the long term.
Hot Casino Stocks To Buy For 2019: CVR Energy Inc.(CVI)
Advisors’ Opinion:
- [By Shane Hupp]
Natixis Advisors L.P. bought a new stake in CVR Energy, Inc. (NYSE:CVI) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 24,807 shares of the oil and gas company’s stock, valued at approximately $750,000.
- [By Dan Caplinger]
The stock market performed badly on Tuesday, with major benchmarks finishing down anywhere from 0.5% to 1.6%. Adding to the list of concerns among market participants, signs of economic challenges in Italy brought back memories of past troubles in Europe that extended the length of time that the continent suffered from disruptions following the U.S. financial crisis in the late 2000s. Investors also had to deal with plunging oil prices that led to a flood of buying in the bond market, sending interest rates plunging lower. Bad news also affected several individual companies. JPMorgan Chase (NYSE:JPM), Infinera (NASDAQ:INFN), and CVR Energy (NYSE:CVI) were among the worst performers on the day. Here’s why they did so poorly.
- [By Stephan Byrd]
CVR Energy Inc. (NYSE:CVI) shares hit a new 52-week high and low during mid-day trading on Monday . The stock traded as low as $39.74 and last traded at $39.69, with a volume of 566335 shares traded. The stock had previously closed at $36.81.
Hot Casino Stocks To Buy For 2019: VistaGen Therapeutics, Inc. (VTGN)
Advisors’ Opinion:
- [By Money Morning News Team]
For example, the VistaGen Therapeutics Inc.(Nasdaq: VTGN) stock price soared from $0.92 to $2.55 on Dec. 6, 2017.
Less than two weeks later, the share price plummeted back to $1.05, which would be a 58% loss for anyone who bought at the peak.
- [By Money Morning News Team]
While exciting, CODX and our other penny stocks to watch this week are unlikely to tack on any additional gains this week. But don’t worry. After looking at our 10 top penny stocks to watch, we’ll show you a stock with serious profit potential in its future…
Penny Stock Current Share Price Last Week’s Gain
Co-Diagnostics Inc. (Nasdaq: CODX) $4.35 192.07%
Viking Therapeutics Inc. (Nasdaq: VKTX) $9.37 95.78%
DHI Group Inc. (NYSE: DHX) $3.10 67.57%
Axovant Sciences Ltd. (Nasdaq: AXON) $1.76 60.00%
Netlist Inc. (Nasdaq: NLST) $0.21 53.79%
Link Motion Inc. (NYSE LKM) $1.23 47.73%
CorMedix Inc. (NYSE: CRMD) $0.26 44.44%
Vistagen Therapeutics Inc. (Nasdaq: VTGN) $1.34 40.21%
J. Jill Inc. (NYSE: JILL) $8.30 36.55%
Adomani Inc. (Nasdaq: ADOM) $1.52 34.86%
In order to make sure we protect ourselves from any substantial losses from investing in penny stocks, we follow five rules for penny stock investing. Take look at them on the right.As these stocks demonstrate, there are penny stocks that have tremendous growth potential that can easily dwarf your initial investment. However, most penny stocks lack the solid underlying financials necessary to generate a significant return.
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For instance, VistaGen Therapeutics Inc. (Nasdaq: VTGN) shot up from $0.92 to $2.55 on Dec. 6. Since then, the stock pulled back to $1.19. Investors who bought at $2.55 are sitting on a 53.3% loss today (Feb. 20).
- [By Logan Wallace]
Maxim Group assumed coverage on shares of Vistagen Therapeutics (NASDAQ:VTGN). The firm issued a buy rating on the stock.
Sanford C. Bernstein assumed coverage on shares of Zimmer Biomet (NYSE:ZBH). Sanford C. Bernstein issued an underperform rating on the stock.
Hot Casino Stocks To Buy For 2019: Pain Therapeutics(PTIE)
Advisors’ Opinion:
- [By Peter Graham]
Small cap pain stock Pain Therapeutics (NASDAQ: PTIE) has elevated short interest of 35.77% according to Highshortinterest.com. Pain Therapeuticsdevelops proprietary drugs that offer significant improvements to patients and physicians.The Companysexpertise consists of developing new drugs and guiding these through various regulatory and development pathways in preparation for their eventual commercialization with a focuson drug development efforts around disorders of the nervous system.The FDA has not yet established the safety or efficacy ofany drug candidates. Pain Therapeuticspipeline of drug assets includes:
- [By Lisa Levin] Gainers
Blink Charging Co. (NASDAQ: BLNK) shares climbed 31.68 percent to close at $7.19 on Wednesday. Blink Charging reported Q1 net income of $2.2 million, versus a year-ago net loss of $3.1 million.
Eleven Biotherapeutics, Inc. (NASDAQ: EBIO) shares gained 24.15 percent to close at $3.29. Eleven Biotherapeutics posted a Q1 loss of $0.11 per share.
21Vianet Group, Inc. (NASDAQ: VNET) shares surged 24 percent to close at $6.82.
Check-Cap Ltd. (NASDAQ: CHEK) gained 20.25 percent to close at $4.87.
HUYA Inc. (NYSE: HUYA) shares surged 18.42 percent to close at $22.50
Abaxis, Inc. (NASDAQ: ABAX) rose 16.15 percent to close at $83.34. Zoetis Inc. (NYSE: ZTS) announced plans to acquire Abaxis for $83 per share in cash.
Pain Therapeutics, Inc. (NASDAQ: PTIE) shares jumped 16.07 percent to close at $10.62.
Bilibili Inc. (NASDAQ: BILI) rose 16.04 percent to close at $14.11.
Gemphire Therapeutics Inc. (NASDAQ: GEMP) gained 14.88 percent to close at $6.33.
Phoenix New Media Limited (NYSE: FENG) rose 13.96 percent to close at $5.55.
Daqo New Energy Corp. (NYSE: DQ) jumped 13.88 percent to close at $67.27 on Wednesday.
Sea Limited (NYSE: SE) jumped 12.59 percent to close at $11.98 after reporting Q1 results.
Viking Therapeutics, Inc. (NASDAQ: VKTX) rose 12.01 percent to close at $5.13.
Ascena Retail Group, Inc. (NASDAQ: ASNA) gained 11.93 percent to close at $3.19.
Boot Barn Holdings, Inc. (NYSE: BOOT) climbed 11.66 percent to close at $24.52 on Wednesday after the company reported upbeat results for its fourth quarter and issued strong first-quarter earnings guidance.
Macy's, Inc. (NYSE: M) rose 10.83 percent to close at $33.17 after the company reported stronger-than-expected results for its first quarter and lifted guidance.
ChemoCentryx, Inc. (NASDAQ: CCXI) gained 9.36 percent to close at $12.50. Canaccord Genuity initiated coverage on ChemoCentryx with a Buy rating.
Biolinerx Ltd/S ADR (NASDAQ: BLRX) - [By Brian Orelli]
DURECT Corp. (NASDAQ:DRRX) is down 9.2% at 12:45 p.m. EDT after the U.S. Food and Drug Administration’s advisory committee voted14 to 3 recommending the agency not approve Remoxy ER, an abuse-deterrent extended-release pain medication being developed by its partner Pain Therapeutics(NASDAQ: PTIE).
- [By Chris Lange]
Pain Therapeutics Inc. (NASDAQ: PTIE) shares were destroyed on Wednesday after a vote from the U.S. Food and Drug Administration (FDA) was announced. As we have said before, the FDA has the potential to make or break biopharmaceutical companies. In this case, Pain Therapeutics has been broken.
Hot Casino Stocks To Buy For 2019: Norwood Financial Corp.(NWFL)
Advisors’ Opinion:
- [By Max Byerly]
Media headlines about Norwood Financial (NASDAQ:NWFL) have trended somewhat negative this week, according to Accern Sentiment Analysis. Accern identifies negative and positive news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Norwood Financial earned a coverage optimism score of -0.01 on Accern’s scale. Accern also assigned news coverage about the financial services provider an impact score of 46.6420547965898 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Hot Casino Stocks To Buy For 2019: Applied Optoelectronics, Inc.(AAOI)
Advisors’ Opinion:
- [By Dan Caplinger]
Wednesday was a down day for the stock market, with the Dow Jones Industrial Average posting triple-digit losses even as broader benchmarks had much smaller moves. Market participants largely focused their attention on the inflation front, as March consumer price index numbers showed a 0.2% rise in the core rate excluding food and energy. Year-over-year price changes have accelerated, seemingly giving the Federal Reserve more justification to continue raising interest rates. Yet even though many stocks generally react unfavorably to inflation fears, there were some big gainers that had good news. Hilton Worldwide Holdings (NYSE:HLT), Pretium (NYSE:PVG), and Applied Optoelectronics (NASDAQ:AAOI) were among the best performers on the day. Here’s why they did so well.
- [By Chris Lange]
Applied Optoelectronics, Inc. (NASDAQ: AAOI) reported its fourth quarter results after the markets closed on Wednesday. The company posted $0.89 in earnings per share (EPS) on $79.9 million, which compares to consensus estimates that were calling for $0.82 in EPS on $86.2 million in revenue. Heres what analysts were saying after the fact:
- [By Logan Wallace]
Applied Optoelectronics (NASDAQ:AAOI) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.39-$0.52 for the period, compared to the Thomson Reuters consensus estimate of $0.46. The company issued revenue guidance of $75-$81 million, compared to the consensus revenue estimate of $77.48 million.
- [By Anders Bylund]
There is no doubt in my mind that high-speed network equipment and components will be in high demand for many years to come. That’s why I’m salivating over the rock-bottom prices that some of the best names in the industry are trading for right now. So let’s have a closer look at Finisar (NASDAQ:FNSR), Applied Optoelectronics Inc. (NASDAQ:AAOI), and NeoPhotonics (NYSE:NPTN), all of which have seen share prices sliding at least 20% lower over the last 52 weeks. These are great companies in a high-growth industry with legs that are good for miles and miles, and should be snapped up at these ridiculously low prices.
- [By Elizabeth Balboa]
Acacia Communications, Inc. (NASDAQ: ACIA) fell 4.3 percent and Oclaro Inc (NASDAQ: OCLR) 1.1 percent, while Applied Optoelectronics Inc (NASDAQ: AAOI) and Lumentum Holdings Inc (NASDAQ: LITE) dipped marginally.
- [By Anders Bylund]
Notably, Applied Optoelectronics (NASDAQ:AAOI) was held up as a likely takeover target before the ink had dried on the Oclaro/Lumentum deal, but the stock started to fall a couple of weeks later as no such bids materialized. Applied Optoelectronics shares fell 10.3% lower in March, but the damage was repaired in early April when analyst firm Rosenblatt said that the company’s largest data center customers are ramping up their computing infrastructures very quickly at the moment.
Hot Casino Stocks To Buy For 2019: Grupo Supervielle S.A. (SUPV)
Advisors’ Opinion:
- [By Logan Wallace]
Mckinley Capital Management LLC Delaware lowered its holdings in Grupo Supervielle (NYSE:SUPV) by 19.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,744 shares of the company’s stock after selling 7,984 shares during the quarter. Mckinley Capital Management LLC Delaware’s holdings in Grupo Supervielle were worth $1,023,000 as of its most recent SEC filing.
- [By Logan Wallace]
Credicorp (NYSE: BAP) and Grupo Supervielle (NYSE:SUPV) are both finance companies, but which is the better stock? We will compare the two businesses based on the strength of their valuation, dividends, risk, profitability, analyst recommendations, earnings and institutional ownership.
- [By Logan Wallace]
Grupo Supervielle (NYSE:SUPV) shares dropped 4.7% on Monday . The company traded as low as $13.96 and last traded at $12.98. Approximately 30,924 shares were traded during trading, a decline of 97% from the average daily volume of 1,141,060 shares. The stock had previously closed at $13.62.
