Hourly In Play (R)

Updated: 17-Nov-18 00:00 ET

 Friday After the Close   
17:39  WRAPX This week's biggest % gainers/losers

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers
  • Healthcare: TSRO (34.96 +39.28%), CHRS (12.27 +22.03%), OPK (3.56 +15.21%), ARNA (41.68 +14.92%), BABY (33.93 +13.29%), COLL (17.38 +12.71%), NKTR (38.23 +12.38%)
  • Materials: TAHO (3.29 +42.42%), HCLP (7.5 +15.92%), SBGL (2.67 +12.18%)
  • Consumer Discretionary: BZH (10.24 +18.52%), VIPS (5.84 +15.42%), HTHT (29.7 +14.89%), PRTY (11.49 +14.21%), FOXF (75.17 +12.31%)
  • Information Technology: APTI (37.71 +51.75%), SMCI (14.3 +17.79%), ATHM (77.44 +12.79%)
  • Consumer Staples: SFS (6.78 +33.99%)
This week's top 20 % losers
  • Healthcare: ACHC (32.55 -23.41%), ABMD (319.78 -21.08%)
  • Consumer Discretionary: HZN (1.79 -30.08%), GNC (3.17 -24.88%), JWN (50.93 -22.2%), DDS (64.56 -18.84%)
  • Information Technology: LITE (41.52 -25.79%), LXFT (33.14 -21.6%), NVDA (164.43 -20.05%), GOGO (5 -19.09%)
  • Energy: TK (5.29 -25.07%), EPE (1.21 -21.94%)
  • Telecommunication Services: NIHD (5.48 -31.41%)
  • Utilities: PCG (24.4 -38.88%)
17:37  AQST Aquestive Therapeutics received FDA complete response letter for tadalafil oral film (16.86 +0.05)

Tadalafil is a PDE5 inhibitor currently marketed in tablet form for the treatment of erectile dysfunction and benign prostatic hyperplasia (BPH) under the brand name Cialis, and for treatment of pulmonary arterial hypertension under the brand name Adcirca. In the letter, the FDA requested limited additional data from healthy volunteers. The company has also notified the agency about its plans to engage an alternative supplier of the active pharmaceutical ingredient. "We continue to see a pathway to tentative approval before the expiry of the patents for the reference product. We anticipate partnering tadalafil OF once approved and the CRL has not changed our timing or intent."
17:29  PLUG Plug Power files for approx 21.2 mln share common stock offering by holders (1.84 0.00)

16:51  VIAB Viacom files mixed securities shelf offering (32.99 +1.16)

16:38  WRAPX Closing Market Summary: Broader Market Gets Lift from More Trade Chatter; Chip Stocks Weigh

[BRIEFING.COM] The S&P 500 chipped in a 0.2% gain on Friday after President Donald Trump again signaled China's desire to make a deal on trade. Disappointing guidance from chipmakers, however, kept gains in check. The Dow Jones Industrial Average gained 0.5%, the Nasdaq Composite lost 0.2%, and the Russell 2000 gained 0.2%. For the week, the S&P 500 declined 1.6%.

Speaking from the White House, President Trump reiterated his claim that China wants to make a trade deal. He said that China sent a "large" list of things they're willing to do, but the list is not yet in-line with the President's standards. Nevertheless, the market, desperate for a positive solution on trade, reacted positively to the comments. 

Also, a dovish perspective from Fed Vice Chair Richard Clarida on Friday helped ease some early angst.

Mr. Clarida thinks the Fed is getting closer to a neutral rate, which is a somewhat contrasting view from Fed Chair Jerome Powell in October who said the Fed is still a "long way from neutral." The Fed-sensitive 2-yr yield subsequently dropped six basis points to 2.80%, and the benchmark 10-yr yield lost four basis points to 3.07%. The U.S. Dollar lost 0.5% to 96.46.

Proving strong support for the broader market were the real estate (+1.4%), utilities (+1.3%), energy (+1.1%), materials (+1.0%), and health care (+1.0%) sectors, which combine for roughly 30% of the S&P 500's market capitalization. 

Conversely, the top-weighted information technology sector shed 0.1%, though recouped most of its losses largely due to resiliency from Apple (AAPL 193.53, +2.12, +1.1%). Discouraging guidance from NVIDIA (NVDA 164.43, -37.96, -18.8%) and Applied Materials (AMAT 35.40, +0.38, +1.1%) weighed on the sector early. Weaker-than-expected chip demand, which left NVIDIA with excess inventory, led to fourth quarter revenue and EPS guidance that was well below current consensus estimates. Applied Materials also lowered its top and bottom line guidance below consensus but was able to add some gains. The Philadelphia Semiconductor Index lost 1.2%.

Facebook (FB 139.53, -4.32) weighed on the communication services sector (-0.4%) with a loss of 3.0%. On-going negative publicity surrounding the company has helped pull the stock back to its lowest level since April 2017. Also, Amazon (AMZN 159.41, -26.03, 1.6%) and retail companies dragged on the lagging consumer discretionary sector (-0.5%).

Retail companies continued to struggle after Nordstrom (JWN 50.93, -8.06, -13.7%) and Williams-Sonoma (WSM 53.76, -6.80, -11.2%) released mixed earnings reports. Nordstrom reported a significant one-time charge that knocked EPS lower by $0.28, and its revenue and its full-price comparable sales figures were on the softer side. Williams-Sonoma guided its revenue to the low end of Wall Street estimates. Both companies beat earnings expectations, though. The SPDR S&P Retail ETF (XRT 46.46, -0.65) lost 1.4% today and 4.5% this week.

Separately, WTI crude added 0.1% to $56.52/bbl, extending its rebound effort to its third straight session after snapping a 12-session losing streak. 

Overseas, reports from the United Kingdom indicated that the 1922 Committee received 48 letters needed to trigger a vote of no-confidence in Prime Minister Theresa May. UK's FTSE shed 0.4%, and the British pound rose 0.4% to 1.2830 against the dollar, which is far from a frantic move in the market that should be most impacted by Brexit fears.

Reviewing Friday's economic data, which included Industrial Production and Capacity Utilization for October and Net Long-Term TIC Flows for August:

  • Industrial production increased 0.1% in October ( consensus +0.3%) following a downwardly revised 0.2% increase (from +0.3%) in September. The capacity utilization rate dipped to 78.4% from an upwardly revised 78.5% (from 78.1%) in September, which was the highest rate since January 2015.
    • The key takeaway from the report is that manufacturing output increased for the fifth straight month despite a big drop in motor vehicle assemblies, which underscores solid activity otherwise for the manufacturing base.

Looking ahead, investors will receive the NAHB Housing Market Index on Monday.

  • Nasdaq Composite +5.0% YTD
  • Dow Jones Industrial Average +2.8% YTD
  • S&P 500 +2.3% YTD
  • Russell 2000 -0.5% YTD

Week In Review: Stocks Lose Ground Over Continuing Growth Concerns

Wall Street tumbled this week, with consumer discretionary and information technology stocks leading the retreat.

Concerns over peak earnings growth continued to linger, and a further breakdown in oil prices also weighed on investor sentiment. Brexit reentered the mix this week, and, as always, U.S.-China trade headlines were plentiful. The S&P 500 lost 1.6%, the Dow lost 2.2%, the Nasdaq lost 2.2%, and the Russell 200 lost 1.4%.

Within the tech space (-2.5%), Apple (AAPL) got off to a rough start after two more suppliers, Lumentum (LITE) and Qorvo (QRVO), cut their guidance. Disappointing guidance from chipmakers NVIDIA (NVDA) and Applied Materials (AMAT) also weighed on the sector, with NVIDIA plunging nearly 20% on Friday. 

Meanwhile, a host of retailers reported earnings this week, including Walmart (WMT), Macy's (M), Home Depot (HD), and Nordstrom (JWN) to name a few. The reports generally showed better-than-expected profits, but shares sold off in response nonetheless. The SPDR S&P Retail ETF (XRT) lost 4.5%, while the consumer discretionary sector lost 3.8%.

The oil-sensitive energy space (-2.1%) fell in tandem with WTI crude, which dropped 6.1% to $56.52/bbl and extended its losing streak to 12 sessions before bouncing back.

Saudi Arabia announced it would reduce its oil exports in December by 500,000 barrels a day due to a seasonal slowdown in demand, but President Trump rebuked that decision on Twitter. There were also reports that OPEC and non-OPEC allies could be entertaining a plan to cut production by 1.4 million barrels per day in 2019. However, OPEC cut its 2019 oil demand forecast for the fourth consecutive month.

In Washington, Congresswoman Maxine Waters, who is set to take over the House Financial Services Committee this January, vowed that the days of weakening bank regulations will be coming to an end. Ms. Waters' comments should not have been seen as a surprise as it was understood this would likely be the case following the midterm election results. However, a knee-jerk sell off in the financial space, which finished the week lower by 1.3%, suggested otherwise.

Conversely, outperforming the broader market were the lightly-weighted real estate (+0.8%), materials (+0.4%), and the heavily-weighted health care (-1.1%) spaces.

Elsewhere, U.S. Treasuries saw heightened demand amid market turbulence and a softer-sounding perspective from Fed Vice Chair Richard Clarida. Mr. Clarida conceded on Friday that he thinks the Fed is getting closer to a neutral rate, which is a dovish stance compared to Fed Chair Jerome Powell's "long way from neutral" comments from last month. The 2-yr yield lost 13 basis points to close at 2.80%, and the 10-yr yield lost 12 basis points to close at 3.07%.

This week saw the market bounce on any U.S.-China trade development no matter if the news was new or repetitive.

A Financial Times report suggested China and the U.S. are trying to reach a trade truce ahead of the G-20 meeting at the end of the month, but clarification from the U.S. Trade Representative's office said that the next round of tariffs for China are not on hold. President Donald Trump chimed in that China is open to a trade deal, though a list of concessions reportedly presented from China before did not mention structural reforms that have been demanded by President Donald Trump.

At the very least, National Economic Council Director Larry Kudlow did confirm that the U.S. and China have resumed trade discussions.

Overseas, UK Prime Minister Theresa May received cabinet approval for her draft withdrawal statement for Brexit. However, Brexit secretary Dominic Raab, and several other ministers, resigned after the approval, and reports indicate that the 1922 Committee received 48 letters needed to trigger a vote of no-confidence in Prime Minister Theresa May. The vote could take place next week.

16:36  NVS Novartis AG drug Promacta receives FDA approval for first-line SAA and grants Breakthrough Therapy designation for additional new indication (87.75 +0.51)

Promacta is the first new treatment in decades for newly diagnosed severe aplastic anemia patients in the US; a decision by the European Medicines Agency is expected in 2019. Novartis submitted a Type II variation application for Revolade as a first-line SAA treatment to the European Medicines Agency in April 2018 and is expecting a decision in 2019.
16:33  RMTI Rockwell Medical files for 8,312,343 share common stock offering by holders (3.76 -0.13)

16:24  CDZI Cadiz files for $100 mln mixed securities shelf offering (10.99 +0.07)

16:24  CDTX Cidara Therapeutics entered into $35 mln Controlled Equity Offering sales agreement with Cantor Fitzgerald (3.88 0.00)

16:22  AMEH Apollo Medical filed for 800K share common stock offering by holders (21.77 -0.83)

16:22  HFC HollyFrontier files for senior debt securities and common stock shelf offering (63.83 +0.74)

16:22  UVE Universal Insurance declares quarterly cash dividend of $0.29/share, including a $0.16/share regular quarterly cash dividend and an additional special cash dividend of $0.13/share (44.78 +0.73)

16:20  ELOX Eloxx Pharmaceuticals entered into $50 mln Equity Distribution Agreement with Citigroup and Cantor for ATM Offering (17.39 +0.40)

16:17  NMRK Newmark COO James Ficarro resigned effective Nov 14 - his responsibilities will be reassigned to members of the newly formed operating committee (9.55 +0.44)

Newmark established an Operating Committee consisting of key senior managers. The Operating Committee members are the following: Lou Alvarado, Chief Revenue Officer, Raj Bhatti, Chief Information Officer, Jeff Day, President, Head of Multifamily Capital Markets (Chair), Alison Lewis, Chief Administrative Officer, and Michael Rispoli, Chief Financial Officer. (BGCP previously announced the spin-off of Newmark holdings effective Nov 30)
16:11  AVT Avnet elects Rodney C. Adkins Chairman of the Board, effective immediately (43.60 +0.75)

Mr. Adkins, who has been a board member since 2015, succeeds William H. Schumann III, who has served as Chairman since 2012 and who will remain on the Board of Directors.
16:08  ARQL ArQule presents clinical and pre-clinical data for ARQ 751 in three poster presentations (4.00 +0.09)

ArQule today announced the presentation of clinical and pre-clinical data on ARQ 751 in three poster presentations at the 30th EORTC/AACR/NCI Symposium. The data presented highlight clinical data from ARQ 751-101, a Phase 1 study in adult patients with refractory and/or metastatic tumors that harbor AKT, PI3K, or PTEN genetic alterations, and pre-clinical data on ARQ 751 in combination with other agents.

  • In the Phase 1 study, ARQ 751 demonstrated manageable toxicity at doses from 5 mg QD to 75 mg QD, and the recommended Phase 2 dose was determined to be 75 mg QD; evidence of clinical activity was observed with two partial responses in ER+/PR+/HER2- stage IV breast cancer patients; and the data supported continued development of ARQ 751 as a monotherapy or in combination with other anti-cancer agents. 
  • In preclinical cellular models, ARQ 751 exerted greater anti-proliferative and biochemical effects when in combination with multiple therapeutic agents including an ER antagonist, aromatase inhibitor, androgen receptor antagonist and a BTK inhibitor.
  • ArQule's AKT inhibitors, miransertib and ARQ 751 showed superior activity in comparison to other allosteric and ATP-competitive AKT inhibitors currently in clinical development.
16:08  EYE National Vision prices 12.5 mln share offering by certain shareholders at $40.50/share (39.19 -0.81)


Copyright © All rights reserved.