Companies featured in this edition of the newsletter: IMNP, STLT, OPSSF/ OPS.V
The stock market was propelled to its sixth gain in seven weeks two week ago by dovish remarks from Fed Chair Janet Yellen. However, the equities were unable to build on their recent strength, ending this week on a lower note. The Dow finished the week at 17,577 down -216 points or -1.2% from 17,793 last week, and it is up 0.9% for the year. The Nasdaq finished the week at 4,851 down -64 points or -1.3% from 4,914 last week, and it is down -3.1% for the year. The S&P 500 finished the week down -25 points or -1.2% at 2,048 from 2,073 last week, and it is up 0.2% for the year. The Russell 2000 finished the week down -24 points or -2.1% at 1,094 compared to 1,118 last week, and it is down -3.7% for the year.
In economic news the new orders for manufactured goods in February declined 1.7%, marking the third time in the last four months that they have been down. Excluding transportation, factory orders declined 0.8% on top of a downwardly revised 0.6% decline in January. The latest trade data showed the U.S. trade deficit widened to $47.1 billion in February from $45.9 billion in January. The ISM Non-Manufacturing Index edged up to 54.5 in March from 53.4 in February. The initial claims for the week ending April 2 were 267,000, a decrease of 9,000 from the previous week’s revised level. Continuing claims for the week ending March 26 rose to 2.191 million from 2.172 million in the prior week period. This was the 57th straight week that initial claims have been below 300,000, which is the longest streak since 1973.
Total outstanding consumer credit increased by $17.3 billion in February after increasing an upwardly revised $14.8 billion in January. Wholesale inventories declined 0.5% in February, that marked the fifth straight monthly decline after January saw a sizeable downward revision to -0.2% from an originally reported 0.3% increase.
In earnings news, Walgreens Boot Alliance reported 2Q fiscal 2016 GAAP net earnings of $0.9 billion or $0.85 per diluted share compared with $2.0 billion or $1.93 in the same period of last year.
The IPAA OGIS New York 2016 Conference will be held on April 11-12, 2016 at the Sheraton NY Times Square hotel in New York. The Needham and Company 15th Annual Healthcare Conference will be held April 12-13, 2016 at the Westin NY Grand Central Hotel in New York.
Volume Alert: Immune Pharmaceuticals, Inc. (Nasdaq: IMNP), a biopharmaceutical company that applies a personalized approach to treating and developing novel, highly-targeted antibody therapeutics to improve the lives of patients with inflammatory diseases and cancer, saw a volume spike in its stock on Thursday as it traded over 389,000 shares-about three times its three month average daily volume.
Immune finished the week at $0.48.
Volume Alert: Spotlight Innovation Inc. (QTCQB: STLT), a healthcare company that identifies and acquires rights to innovative and proprietary platform technology candidates with a focus on cancer drugs and treatment therapies, solutions for infectious disease, and other specialty and unique opportunities, has continued its weekly jump in volume last week as it traded over 94,000 shares versus an average of 37,000 shares per week. That’s almost three times its average daily volume for the week.
Spotlight finished the week at $0.45.
Volume Alert: Opsens Inc. (OTCQX: OPSSF) (TSX: OPS.V), a healthcare company that engages in the development, manufacture, sale, and installation of fiber optic sensors for interventional cardiology, fractional flow reserve (FFR), oil and gas, and industrial applications, saw more and average trading volume across both the bulletin board and the Toronto Venture Exchange last week. On the bulletin board it traded over 47,000 shares on Friday- that’s more than seven times its three-month average daily volume. It typically trades around 7,000 shares a day. It also traded a lot on the venture exchange, especially on Friday as it traded over 82,000 shares- about two times its three-month average daily volume.
Opsens closed the week at $0.90 on the OTCQX under OPSSF and $1.17 on the Venture Exchange under OPS.V.
A profile, description, or other mention of a company in the newsletter is neither an offer nor solicitation to buy or sell any securities mentioned. While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein. THE READER SHOULD VERIFY ALL CLAIMS AND DO ITS OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. This publication accepts compensation from companies that it features. This newsletter should not be regarded as an independent publication. Our editors may, from time to time, acquire positions in the companies that they cover. This could represent a conflict of interest. The CEOcast newsletter shall be under no obligation to inform readers about its trading activities. CEOcast's editors reserve the right to buy or sell shares in these companies at any time. The following companies, featured in this newsletter, have compensated CEOcast: Immune Pharmaceuticals, ten thousand dollars cash per month. Spotlight Innovation, ten thousand dollars cash per month. Opsens, fifteen thousand dollars cash.