Companies featured in this edition of the newsletter: ENZ, OPSSF/ OPS.V
The first four days of the shortened week were fairly quiet, and rate hike expectations edged up when compared to last Friday. The likelihood of a rate hike in September has inched up to 24.0% from 21.0% last Friday. The Dow closed the week at 18,085 down 406 points or -2.2% from 18,491 last week, and it is up 3.8% for the year. The Nasdaq finished the week at 5,125 down 124 points or -2.4% from 5,249 last week, and it is up 2.4% for the year. The S&P 500 finished the week at 2,127 down 52 points or -2.4% from 2,179 last week, and it is up 4.1% for the year. The Russell 2000 finished the week at 1,216 down 34 points or -2.8% from 1,251 last week, and it is up 7.1% for the year.
The ISM Non-Manufacturing Index for August was a big disappointment, dropping to 51.4 from 55.5 in July. The August reading was the lowest reading for this index since February 2010. Initial claims for the week ending September 3 dipped by 4,000 to 259,000, and the continuing claims for the week ending August 27 decreased by 7,000 to 2.144 million. Total outstanding consumer credit increased by $17.7 billion in July after increasing an upwardly revised $14.5 billion in June. Wholesale inventories were unchanged in July, as expected, following an unrevised 0.3% increase in June.
In earnings news, Hewlett Packard Enterprise reported Fiscal 2016 3Q GAAP net earnings of $2.3 billion or $1.32 per diluted share compared with $0.2 billion or $0.13 per share in 2015. And Kroger reported 2Q 2016 net earnings of $383 million or $0.40 per diluted share compared with $433 million or $0.44 per share last year.
There will be several conferences taking place throughout the week. The Morgan Stanley Global Healthcare Unplugged Conference will be held September 12-14, 2016 in New York. The Barclays Global Financial Services Conference will be held September 12-14, 2016 in New York. The 2nd Annual B. Riley Financial Consumer Investor Conference will be held September 13, 2016 at the Sofitel Hotel in New York. The Deutsche Bank dbAccess Technology Conference will be held September 13-14, 2016 in Las Vegas, NV.
The Bank of America Merrill Lynch 2016 Media, Communications & Entertainment Conference will be held September 13-14, 2016 in Los Angeles, CA. The Credit Suisse 7th Annual US Small and Mid Cap Conference will be held September 14-15, 2016 at the Waldorf Astoria Hotel in New York. The 16th Annual BMO Capital Markets Back to School Education Conference will be held September 15, 2016 in New York. Lastly, the Bank of America Merrill Lynch Global Healthcare Conference will be held September 14-16, 2016 in London. The Rodman and Renshaw Conference will be held September 11-13, 2016 at the Lotte New York Palace Hotel in New York.
Enzo Biochem, Inc. (NYSE: ENZ), a pioneer in molecular diagnostics, will be presenting at the Rodman and Renshaw Conference on Monday, September 12, 2016 at 3pm in Kennedy II.
Enzo closed the week at $5.61.
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, announced the appointment of Mr. Pat Mackin as a Director of the Company.
Pat Mackin brings over 25 years of experience in the medical device industry. Since September 2014, Mr. Mackin has been President and Chief Executive Officer of CryoLife, Inc. (CRY) (“CryoLife”), a leader in the manufacturing, processing, and distribution of implantable living tissues and medical devices used in cardiac surgical procedures.
Louis Laflamme, President and CEO of Opsens, said that they are delighted to see Pat, a renowned leader in the medical device industry, join them. His expertise as head of leading companies in the cardiovascular space will be valuable as they step up from limited market release to a wider one.
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 than average trading volume on the Bulletin Board last week. On Wednesday it traded 20,000 shares-that over five times its three-month average daily volume.
Opsens closed the week at $1.14 on the OTCQX under OPSSF and $1.48 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: Enzo Biochem, five thousand dollars cash per month. Opsens, fifteen thousand dollars cash.