September 6, 2017: Markets opened higher Wednesday following a better-than-expected report on the U.S. trade gap. Tech stocks weighed on the Nasdaq Composite in the late morning, but staged a rally to trade in the green for most of the afternoon. Leading sectors were Energy and healthcare while telecom and utilities lagged. WTI crude oil for October delivery settled at $49.16 a barrel, up 1% on the day. Gold dropped 0.4% to settle at $1,339.00. Equities were headed for a higher close shortly before the bell as the DJIA traded up 0.36% for the day, the S&P 500 traded up 0.38%, and the Nasdaq Composite traded up 0.37%.
The DJIA stock posting the largest daily percentage gain ahead of the close Wednesday was The Home Depot Inc. (NYSE: HD) which traded up 2.58% at $156.88. The stock’s 52-week range is $119.20 to $160.86. Volume was 20% higher than the daily average of around 5 million shares. The company is expected to benefit from the rebuilding efforts following two major hurricanes in the U.S.
Top 10 Gold Stocks To Watch Right Now: Celestica, Inc.(CLS)
Advisors’ Opinion:
- [By Peter Graham]
A long term performance chart shows shares of mid caps Jabil Circuit and Flextronics International Ltd (NASDAQ: FLEX) along with small capCelestica Inc (NYSE: CLS) and Sanmina Corp (NASDAQ: SANM), a previous Elite Opportunity Pro (EOP) newslettersuggestion as the next breakout stock, all performing well recently as the tech stocks they supply outperform:
- [By Peter Graham]
A long term performance chart shows shares of small cap Sanmina Corp (NASDAQ: SANM), a previous Elite Opportunity Pro (EOP) newsletter suggestion as the next breakout stock, andmid cap Flextronics International being bigger winners compared with the also good performance of mid cap Jabil Circuit, Inc (NYSE: JBL) and small cap Celestica Inc (NYSE: CLS):
Top 10 Gold Stocks To Watch Right Now: Barnes & Noble, Inc.(BKS)
Advisors’ Opinion:
- [By Trey Thoelcke]
Look for Barnes & Noble Inc.s (NYSE: BKS) fiscal first-quarter results first thing Thursday morning. Analysts on average expect to see a $0.12 per share net loss, on $871.75 million in revenue. The shares were last seen trading at $7.50. The consensus price target is $10.67, while share have traded between $6.25 and $13.20 in the past year.
- [By Shanthi Rexaline]
The six companies that met the criterion are:
Oshkosh Corp (NYSE: OSK). Phillips 66 (NYSE: PSX). SpartanNash Co (NASDAQ: SPTN). Suncor Energy Inc. (USA) (NYSE: SU). Washington Federal Inc. (NASDAQ: WAFD). Barnes & Noble, Inc. (NYSE: BKS).
Oshkosh
Oshkosh is a manufacturer of specialty vehicles and vehicle bodies and is based in Wisconsin. The company operates under four business segments, namely access equipment, defense, fire and emergency, and commercial.
- [By Peter Graham]
Small cap book retailer Barnes & Noble, Inc (NYSE: BKS) reported fiscal Q4 2017 earnings before the market opened this morning as sales beat expectations while the Q4 loss was narrower than expected. Total sales fell 6.3% to$821 million as online sales increased 2.9% and comparable store sales declined 6.3%. The Q4 net loss improved to $13.4 million from aloss of $30.6 million. For the quarter, Retail generated an operating loss of $15.9 million, while NOOK incurred an operating loss of $7.9 million, for a total operating loss of $23.8 million.
- [By Douglas A. McIntyre]
Barnes & Noble Inc. (NYSE: BKS) NOOK e-reader sales have been slaughtered recently as the company falls hopelessly behind Amazon.com Inc. (NASDAQ: AMZN) due to the success of its Kindle. Barnes & Noble appears to have launched an effort to correct that with a new $50 version of the Nook.
- [By Peter Graham]
A long term performance chart shows Chegg Inc finallymovingabove IPO levels while potential performance benchmarks such as Houghton Mifflin Harcourt Co (NASDAQ: HMHC) and Barnes & Noble Education Inc (NYSE: BNED), a spin off from Barnes & Noble, Inc (NYSE: BKS), have seen their performance slip:
Top 10 Gold Stocks To Watch Right Now: VALE S.A.(VALE)
Advisors’ Opinion:
- [By Ben Levisohn]
Mosaic (MOS) tumbled to the bottom of the S&P 500 today after announcing that it would buy Vale’s (VALE) fertilizer unit.
Getty Images
Mosaicdropped 1.1% to $27.77 today, while the S&P 500 advanced 0.2% to 2,262.53.
- [By Craig Jones]
On CNBC's Fast Money Halftime Report, Jon Najarian spoke about unusually high put options activity in Arconic Inc (NYSE: ARNC) and Vale SA (ADR) (NYSE: VALE).
Top 10 Gold Stocks To Watch Right Now: Coherus BioSciences, Inc.(CHRS)
Advisors’ Opinion:
- [By Lisa Levin] Gainers
Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) shares rose 18.4 percent to $68.65 in pre-market trading as the company reported upbeat results for its first quarter.
Jack in the Box Inc. (NASDAQ: JACK) shares rose 9.5 percent to $111.60 in the pre-market trading session after the company posted better-than-expected earnings for its second quarter. The company also disclosed that it has retained Morgan Stanley to evaluate potential alternatives for Qdoba.
Coherus Biosciences Inc (NASDAQ: CHRS) rose 9.8 percent to $24.20 in pre-market trading. Coherus BioSciences disclosed that it prevailed in ‘135 IPR decision.
Qiwi PLC (NASDAQ: QIWI) rose 8.1 percent to $21.49 in pre-market trading after reporting strong quarterly results.
Korea Electric Power Corporation (ADR) (NYSE: KEP) shares rose 7.9 percent to $20.00 in pre-market trading after dropping 4.33 percent on Tuesday
Target Corporation (NYSE: TGT) shares rose 7.5 percent to $58.60 in pre-market trading after the company reported stronger-than-expected results for its first quarter.
AngloGold Ashanti Limited (ADR) (NYSE: AU) rose 4.3 percent to $11.71 in pre-market trading after falling 0.09 percent on Tuesday.
Colgate-Palmolive Company (NYSE: CL) rose 4.1 percent to $74.53 in pre-market trading after the NY Post reported that the company might be up for sale for $100 per share.
Harmony Gold Mining Co. (ADR) (NYSE: HMY) rose 4 percent to $2.35 in pre-market trading after declining 1.74 percent on Tuesday.
Core Laboratories N.V. (NYSE: CLB) rose 3.6 percent to $109.00 in pre-market trading after gaining 0.39 percent on Tuesday.
Clovis Oncology Inc (NASDAQ: CLVS) rose 3.2 percent to $51.15 in pre-market trading. JP Morgan upgraded Clovis Oncology from Neutral to Overweight.
Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.
- [By Ben Levisohn]
Today,Coherus BioSciences (CHRS) lost a patent case with AbbVie (ABBV) that would have allowed for a generic version of Humira. Citigroup’s Andrew Baum and Peter Verdult have the details:
Agence France-Presse/Getty Images
The Patent Trial and Appeal Boardjust announced that CHRSs IPR on the 166 Humira formulation patent was not instituted. We remind investors that Amgens IPR on the same 157 and 158 formulation patents were also not instituted. Any at risk launch on a formulation that potentially infringes 166, 157 or 158 would seem unlikely and carries a high risk thatAbbVie would attain a preliminary injunction. It is not clear whether either company could attempt launch with a formulation that does not infringe the patent estate. We note that Sandoz has uniquely not filed any IPR on any biosimilars. Sandoz has not announced the FDA has accepted their filing for their biosimilar adalimumab…We anticipate that the perceived historic relationship of the immunogenicity of Humira as it relates to dose stretching will form a key debate in the ongoing PTAB case…
Following the decision of the PTAB not to institute CHRS IPR on the 166 Humira formulation patent, we continue to anticipate that first likely launch of biosimilar adalimumab (Humira) in the US will be delayed until 2020, in line with our published forecasts and biosimilar model. We anticipate the open IPR hearings for the 135 dosing patent on Humira (filed by Boehringer and Coherus) to begin in Feb 2017 with the ruling in May. We rateAbbVie a Buy. We continue to prefer BUY rated Bristol-Myers Squibb (BMY), Eli Lilly (LLY) among the US names.
Shares of AbbVie have climbed 5.6% to $59.18 at 3:05 p.m. today, while Coherus BioSciences has tumbled 11% to $25.18,Bristol-Myers Squibb has gained 3% to $52.56, andEli Lilly has risen 1.7% to $73.70.
- [By Lisa Levin]
Coherus Biosciences Inc (NASDAQ: CHRS) shares shot up 23 percent to $13.70 after the company announced plans to raise up to $150 million in a private placement.
Top 10 Gold Stocks To Watch Right Now: Bellerophon Therapeutics, Inc.(BLPH)
Advisors’ Opinion:
- [By Alex McGuire]
Here’s a list of the top 10 penny stocks to watch in March, which includes the biggest gainers last month…
Penny StockCurrent Stock PriceFebruary 2017 ReturnZosano Pharma Corp. (Nasdaq: ZSAN)$2.56+123.3%Bellerophon Therapeutics Inc. (Nasdaq: BLPH)$1.25+113.8%Peregrine Pharmaceuticals (Nasdaq: PPHM)$0.59+101.7%Galectin Therapeutics Inc. (Nasdaq: GALT)$1.79+91.9%Bioanalytical Systems Inc. (Nasdaq: BASI)$1.58+90.6%CymaBay Therapeutics Inc. (Nasdaq: CBAY)$3.50+89.8%Vermillion Inc. (Nasdaq: VRML)$2.56+86.3%Naked Brand Group Inc.(Nasdaq:NAKD)$2.16+76%Eyegate Pharmaceuticals Inc. (Nasdaq: EYEG)$2.63+73.9%Benitec Biopharma Ltd. (Nasdaq ADR: BNTC)$2.60+59.9%
The best-performing penny stock – Zosano Pharma Corp. – soared an incredible 123.3% from Feb. 1 to Feb. 28. To put those gains into perspective, that’s more than five times the S&P 500’s 23% climb in the last 12 months.
Top 10 Gold Stocks To Watch Right Now: AMTEK, Inc.(AME)
Advisors’ Opinion:
- [By Ben Levisohn]
Flexing the barbell strategy to balance Safe Havens with more cyclical exposures. In our view, industrials investors should be positioning their portfolio with a barbell strategy, with half of the exposure in Safe Havens like General Electric, Xylem (XYL), Danaher, Honeywell International, Roper Technologies (ROP), and AMETEK (AME), and the other half selectively in the cyclical names that are better positioned today, such as Pentair, HD Supply Holdings (HDS),Actuant (ATU), Atkore International Group (ATKR), Ingersoll-Rand, and Eaton (ETN). We still believe risk-reward is mostly balanced and that the macro will remain choppy into 2017, supporting a positioning in the defensive names. But if investor sentiment improves on not-worse news and earnings results, the more cyclical names could fare better.
Top 10 Gold Stocks To Watch Right Now: Francesca's Holdings Corporation(FRAN)
Advisors’ Opinion:
- [By Ben Levisohn]
Francesca’s Holdings (FRAN) has jumped 5.4% to $11.00 after beating earnings forecasts.
Restoration Hardware (RH) has tumbled 20% to $28.92 after slashing its full-year guidance. Restoration Hardware was also cut to Market Perform from Outperform at Telsey Advisory Group.
- [By Lisa Levin] Related LOV Match Group And Spark Networks: A Valentine's Day Case Study 20 Biggest Mid-Day Losers For Thursday
Related VKTX 15 Biggest Mid-Day Losers For Tuesday 18 Biggest Mid-Day Losers For Wednesday Companies Reporting Before The Bell
Canadian Solar Inc. (NASDAQ: CSIQ) is expected to report its quarterly earnings at $0.32 per share on revenue of $690.27 million.
General Mills, Inc. (NYSE: GIS) is projected to report its quarterly earnings at $0.71 per share on revenue of $3.84 billion.
Coca-Cola European Partners Plc (NYSE: CCE) is estimated to report its quarterly earnings at $0.45 per share on revenue of $2.72 billion.
Lands' End, Inc. (NASDAQ: LE) is expected to report its quarterly earnings at $0.35 per share on revenue of $459.43 million.
Francesca's Holdings Corp (NASDAQ: FRAN) is estimated to report its quarterly earnings at $0.37 per share on revenue of $145.91 million.
Cheetah Mobile Inc (ADR) (NYSE: CMCM) is projected to report its quarterly earnings at $0.06 per share on revenue of $178.04 million.
Neogen Corporation (NASDAQ: NEOG) is estimated to report its quarterly earnings at $0.27 per share on revenue of $90.05 million.
Lennar Corporation (NYSE: LEN) is projected to post earnings for its first quarter.
Fifth Street Asset Management Inc (NASDAQ: FSAM) is expected to report its quarterly earnings at $0.14 per share on revenue of $25.12 million.
Top 10 Gold Stocks To Watch Right Now: Apache Corporation(APA)
Advisors’ Opinion:
- [By WWW.THESTREET.COM]
Cramer and the AAP team are detailing their outlook for portfolio energy names Apache (APA) and Cimarex (XEC) . Find out what they’re telling their investment club members with a free trial subscription to Action Alerts PLUS.
- [By WWW.THESTREET.COM]
Cramer and Jack Mohr think Apache’s (APA) management has positioned the company for growth through both innovation and efficiency. Read what they are telling their investment club members with a free subscription to Action Alerts PLUS.
- [By Chris Lange]
The S&P 500 stock posting the largest daily percentage loss ahead of the close Tuesday was Apache Corp. (NYSE: APA) which traded down over 7% at $42.51. The stocks 52-week range is $38.14 to $69.00. Volume was over 14 million versus the daily average of 3.4 million shares.
Top 10 Gold Stocks To Watch Right Now: Cal-Maine Foods, Inc.(CALM)
Advisors’ Opinion:
- [By Lisa Levin]
Some of the stocks that may grab investor focus today are:
Wall Street expects Rite Aid Corporation (NYSE: RAD) to report quarterly earnings at $0.04 per share on revenue of $8.23 billion before the opening bell. Rite Aid shares gained 0.83 percent to $8.54 in after-hours trading.
Micron Technology, Inc. (NASDAQ: MU) reported better-than-expected profit for its first quarter and issued a strong forecast for the current quarter. Micron shares climbed 9.91 percent to $22.62 in the after-hours trading session.
Analysts expect Cal-Maine Foods Inc (NASDAQ: CALM) to post quarterly earnings at $0.48 per share on revenue of $262.83 million after the closing bell. Cal-Maine shares rose 0.12 percent to $42.75 in after-hours trading.
Red Hat Inc (NYSE: RHT) reported upbeat earnings for its third quarter, but sales missed expectations. The company also announced that its CFO Frank Calderoni is stepping down. Red Hat shares tumbled 10.15 percent to $71.69 in the after-hours trading session.
Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.
- [By Lisa Levin]
Cal-Maine Foods Inc (NASDAQ: CALM) posted in-line loss for its second quarter, but sales missed expectations.
Cal-Maine Foods reported a Q2 loss of $0.48 per share on revenue of $253.5 million. Analysts were expecting a loss of $0.48 per share on revenue of $262.8 million.
- [By Craig Jones]
On CNBC's Fast Money Halftime Report, Jon Najarian said that Cal-Maine Foods Inc (NASDAQ: CALM) had unusually high options volume on Friday. Traders were buying the May 45 calls and Jon Najarian decided to follow the trade. He is planning to hold the position for 1 to 2 months.
Top 10 Gold Stocks To Watch Right Now: Digital Realty Trust Inc.(DLR)
Advisors’ Opinion:
- [By Benzinga News Desk]
Last year was brutal for hedge fund investors — but you wouldn’t know it from the fund managers’ paychecks: Link
ECONOMIC DATA
The MBA’s index of mortgage application activity for the latest week is schedule for release at 7:00 a.m. ET.
The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.
ANALYST RATINGS
Jefferies Upgraded ConocoPhillips (NYSE: COP) from Hold to Buy
JPMorgan Upgraded Clovis Oncology (NASDAQ: CLVS) From Neutral to Overweight
Morgan Stanley Upgrades TJX Companies (NYSE: TJX) From Equal-Weight to Overweight
Macquarie Downgraded Disney (NYSE: DIS) from Outperform to Neutral
Deutsche Bank Downgraded AvalonBay (NYSE: AVB) from Buy to Hold
Wells Fargo Downgrades Digital Realty Trust (NYSE: DLR) From Outperform To Market PerformThis is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here or email minutes@benzinga.com.
- [By Lisa Levin]
DuPont Fabros Technology, Inc. (NYSE: DFT) shares shot up 10 percent to $61.07. Digital Realty Trust, Inc. (NYSE: DLR) announced plans to merge with DuPont Fabros.
