Companies featured in this edition of the newsletter: ENZ, OPSSF/ OPS.V
This week the stock market enjoyed another strong week which lifted major averages to record highs. Though Biotechnology names took a hit after President-elect Donald Trump mentioned that he wanted to lower drug prices, but the industry group rebounded by the next couple of days, ending the week on a modestly higher note. The Dow finished the week up 586 points or 3.1% at 19756 from 19,170 last week and it is up 13.4% for the year. The NASDAQ finished the week at 5,444 up 189 points or 3.6% from 5,255 and it is up 8.7% for the year. The S&P 500 finished the week at 2,259 up 68 points or 3.1% from 2,192. And lastly, the Russell 2000 finished the week at 1,388 up 74 points or 5.6% from 1,314 last week and it is up 22.2% for the year.
The ISM Non-Manufacturing Index checked in at 57.2 for November, up from 54.8 in October. November marked a 12 month high for the index and it was the highest reading since October 2015. The trade deficit widened to $42.6 billion in October from an upwardly revised $36.2 billion deficit in September. New Orders for manufactured good increased 2.7% in October on top of an upwardly revised 0.6% increase in September. October marked the fourth straight month that factory orders have increased. Total outstanding consumer credit increased by $16.0 billion in October after increasing an upwardly revised $21.8 billion in September. Initial claims for the week ending December 3 decreased by 10,000 to 258,000, and continuing claims for the week ending November 26 dropped by 79,000 to 2.005 million. The preliminary reading for the University of Michigan Consumer Sentiment Index for December checked in at 98.0, up from the final November reading of 93.8.
No market movers reported earnings this week.
Volume Alert: Enzo Biochem, Inc. (NYSE: ENZ), a pioneer in molecular diagnostics, saw a spike in its trading volume on Wednesday as it traded over 420,000 shares- that’s two times it’s three month average daily volume.
Price Alert: Enzo Biochem, Inc. (NYSE: ENZ), a pioneer in molecular diagnostics, hit a 52 week high this past week on Friday at $7.51.
Enzo closed the week at $7.06.
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 that it has closed its previously announced short form prospectus financing (the “Offering”) through a syndicate of agents led by Paradigm Capital Inc. and including RBC Capital Markets and M Partners Inc. (collectively, the “Agents”). The Corporation issued 8,667,000 Common Shares, at a price of $1.50 per Common Share for gross proceeds of $13,000,500. The Agents also exercised their over-allotment option to acquire an additional 1,300,000 Common Shares for additional gross proceeds of $1,950,000. Including the proceeds from the exercise of the Over-Allotment Option, the total gross proceeds of the Offering were $14,950,500, with a total of 9,967,000 Common Shares being used.
Opsens intends to use the net proceeds of the Offering to execute the commercialization and marketing strategy of its Fractional Flow Reserve (“FFR”), to fund research and product development and to fund its working capital.
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 20,000 shares on Wednesday- that’s about three times its three month average daily volume. It typically trades around 6,000 shares a day. It also traded more than average volume on the venture exchange, especially on Monday as it traded over 168,000 shares-about three times its three month average daily volume.
Price 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, hit a 52 week high at $1.73 on the Toronto Venture Exchange this past week.
Opsens closed the week at $1.29 on the OTCQX under OPSSF and $1.60 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.