Tag Archives: ICON

Iconix, PPL Corp. Slip into Tuesday’s 52-Week Low Club

December 26, 2017: Here are four stocks trading with heavy volume among 35 equities making new 52-week lows in Tuesday’s session. On the NYSE advancers led decliners by about 4 to 3 and on the Nasdaq, advancers and decliners finished about even for the day.

PPL Corp. (NYSE: PPL) posted a 52-week low of $30.81 after closing Friday at $31.13. The 52-week high is $40.20. Volume was about 3.5 million, about 25% below the daily average of around 4.5 million shares. The electric utility company had no specific news.

Iconix Brand Group Inc. (NASDAQ: ICON) dropped about 3.8% Tuesday to post a new 52-week low of $1.28 after closing at $1.33 on Friday. The 52-week high is $10.80. Volume was around 1.1 million, less than half its daily average. The company had no specific news.

Pacific Biosciences of California Inc. (NASDAQ: PACB) slipped about 5.6% to post a new 52-week low of $2.52 Tuesday after closing at $2.67 on Friday. Volume of about 910,000 was about 10% above the daily average. The company had no specific news.

Zosano Pharma Corp. (NASDAQ: ZSAN) dropped about 17% Tuesday to post a new 52-week low of $0.54 after closing at $0.65 on Friday. Volume was around 720,000, about 10% below the daily average of around 850,000. The company had no specific news.

ALSO READ: 9 Things That Savers and Investors Will Love About Tax Reform

Iconix, PPL Corp. Slip into Tuesday’s 52-Week Low Club

December 26, 2017: Here are four stocks trading with heavy volume among 35 equities making new 52-week lows in Tuesday’s session. On the NYSE advancers led decliners by about 4 to 3 and on the Nasdaq, advancers and decliners finished about even for the day.

PPL Corp. (NYSE: PPL) posted a 52-week low of $30.81 after closing Friday at $31.13. The 52-week high is $40.20. Volume was about 3.5 million, about 25% below the daily average of around 4.5 million shares. The electric utility company had no specific news.

Iconix Brand Group Inc. (NASDAQ: ICON) dropped about 3.8% Tuesday to post a new 52-week low of $1.28 after closing at $1.33 on Friday. The 52-week high is $10.80. Volume was around 1.1 million, less than half its daily average. The company had no specific news.

Pacific Biosciences of California Inc. (NASDAQ: PACB) slipped about 5.6% to post a new 52-week low of $2.52 Tuesday after closing at $2.67 on Friday. Volume of about 910,000 was about 10% above the daily average. The company had no specific news.

Zosano Pharma Corp. (NASDAQ: ZSAN) dropped about 17% Tuesday to post a new 52-week low of $0.54 after closing at $0.65 on Friday. Volume was around 720,000, about 10% below the daily average of around 850,000. The company had no specific news.

ALSO READ: 9 Things That Savers and Investors Will Love About Tax Reform

Nordic American Tankers, Top Ships Sink into Wednesday’s 52-Week Low Club

December 13, 2017: Here are four stocks trading with heavy volume among 73 equities making new 52-week lows in Wednesday’s session. On the NYSE advancers led decliners by about 8 to 7 and on the Nasdaq, advancers led decliners by slightly around 3 to 2.

Nordic American Tankers Ltd. (NYSE: NAT) posted a new 52-week low of $2.68 Wednesday, down about 27% after closing at $3.67 on Tuesday. The 52-week high is $9.32. Volume was about 20.3 million, more than 20 times the daily average of around 940,000 shares. The company announced priced a sale of $110 million in new shares at $2.75 per share.

Top Ships Inc. (NASDAQ: TOPS) dropped about 14% Wednesday to post a new 52-week low of $0.31 after closing at $0.36 on Tuesday. Volume was around 14.5 million, about 25% above the daily average of around 6.4 million. The shipping company had no specific news.

Asanko Gold Inc. (NYSEAMERICAN: AKG) dropped nearly 11% Wednesday to post a new 52-week low of $0.44 after closing at $0.48 on Tuesday. The stock’s 52-week high is $3.90. Volume of around 3.5 million was about 35 times the daily average. The junior gold miner had no specific news.

Iconix Brand Group Inc. (NASDAQ: ICON) dropped about 1.4% Wednesday to post a new 52-week low of $1.36 after closing at $1.38 on Tuesday. The 52-week high is $10.80. Volume was around 3.2 million, about 30% above the daily average of around 2.3 million. The company had no specific news.

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Credit Suisse Identifies 15 Companies as Top Tax Reform Winners

Mid-Afternoon Market Update: Dow Drops 75 Points; Cleantech Solutions International Shares Spike Hig

Toward the end of trading Wednesday, the Dow traded down 0.32 percent to 23,515.49 while the NASDAQ climbed 0.01 percent to 6,863.32. The S&P also fell, dropping 0.11 percent to 2,596.30.

Leading and Lagging Sectors

Wednesday afternoon, the energy sector proved to be a source of strength for the market. Leading the sector was strength from TETRA Technologies, Inc. (NYSE: TTI) and Abraxas Petroleum Corp. (NASDAQ: AXAS).

In trading on Wednesday, financial shares fell 0.13 percent. Meanwhile, top losers in the sector included Adams Natural Resources Fund Inc (NYSE: PEO), down 4 percent, and Old Point Financial Corporation (NASDAQ: OPOF) down 3 percent.

Top Headline

Deere & Company (NYSE: DE) reported better-than-expected results for its fourth quarter on Wednesday.

Deere reported Q4 earnings of $1.57 per share on revenue of $8.018 billion. However, analysts were expecting a profit of $1.47 per share on sales of $7.05 billion.

Deere expects FY18 net income of $2.6 billion and equipment sales to rise 22 percent.

Equities Trading UP

Cleantech Solutions International Inc (NASDAQ: CLNT) shares shot up 98 percent to $8.82 after the company disclosed that its subsidiary, Vantage Ultimate Limited, entered into a conditional share swap deal to buy 51 percent interest in Marvel's issued share capital of Integrated Media Technology.

Shares of Eltek Ltd. (NASDAQ: ELTK) got a boost, shooting up 57 percent to $5.64. Eltek’s 1-for-5 reverse stock split took place today.

Copart, Inc. (NASDAQ: CPRT) shares were also up, gaining 10 percent to $40.35 after the company reported better-than-expected quarterly results.

Equities Trading DOWN

Sunshine Heart Inc (NASDAQ: CHFS) shares dropped 44 percent to $4.42. CHF Solutions priced public offering of convertible preferred stock and warrants for gross proceeds of $18 million.

Shares of Rand Logistics, Inc. (NASDAQ: RLOG) were down 26 percent to $0.430 following deal to be purchased by American Industrial Partners.

Iconix Brand Group Inc (NASDAQ: ICON) was down, falling around 19 percent to $2.06. CONSOL Energy will replace Iconix Brand Group in the S&P SmallCap 600 on Thursday, November 30.

Commodities

In commodity news, oil traded up 1.30 percent to $57.57 while gold traded up 0.68 percent to $1,295.00.

Silver traded up 0.84 percent Wednesday to $17.205, while copper rose 0.25 percent to $3.1585.

Eurozone

European shares closed mostly lower today. The eurozone’s STOXX 600 dropped 0.27 percent, the Spanish Ibex Index rose 0.21 percent, while Italy’s FTSE MIB Index fell 0.05 percent. Meanwhile the German DAX slipped 1.16 percent, and the French CAC 40 declined 0.25 percent while U.K. shares rose 0.10 percent.

Economics

U.S. durable goods orders declined 1.7 percent for October, versus economists’ expectations for a 0.3 percent growth

U.S. initial weekly jobless claims dropped 13,000 to 239,000 in the latest week. However, economists were projecting claims to reach 240,000 last week.

The University of Michigan's consumer sentiment index rose to 98.50 in November, versus prior reading of 97.80. Economists projected a reading of 98.00.

Domestic crude supplies dropped 1.85 million barrels for the week ended November 17, the U.S. Energy Information Administration reported. Analysts expected a fall of 1.54 million barrels. Gasoline stockpiles gained 44.000 barrels, while distillate stockpiles rose 269,000 barrels last week.

Domestic supplies of natural gas declined 46 billion cubic feet for the week ended November 17, the U.S. Energy Information Administration reported. Analysts estimated a drop of 51 billion cubic feet.

The Federal Open Market Committee issued minutes of its latest meeting.

Mid-Afternoon Market Update: Dow Surges 200 Points; SMART Global Shares Jump On Strong Guidance

Toward the end of trading Thursday, the Dow traded up 0.86 percent to 23,471.49 while the NASDAQ climbed 1.38 percent to 6,798.83. The S&P also rose, gaining 0.89 percent to 2,587.40.

Leading and Lagging Sectors

Thursday afternoon, the cyclical consumer goods & services sector proved to be a source of strength for the market. Leading the sector was strength from Griffon Corporation (NYSE: GFF) and Iconix Brand Group Inc (NASDAQ: ICON).

In trading on Thursday, energy shares were relative laggards, down on the day by about 0.18 percent. Meanwhile, top losers in the sector included PrimeEnergy Corporation (NASDAQ: PNRG), down 8 percent, and Aegean Marine Petroleum Network Inc. (NYSE: ANW) down 3 percent.

Top Headline

Wal-Mart Stores Inc (NYSE: WMT) reported better-than-expected earnings for its third quarter and lifted its full-year earnings forecast.

Wal-Mart posted quarterly adjusted earnings of $1 per share on revenue of $123.2 billion. However, analysts were expecting earnings of $0.97 per share on revenue of $121 billion. Comparable store sales rose 2.7 percent in the quarter.

It now projects full-year earnings of $4.38 to $4.46, versus its prior forecast of $4.30 to $4.40 per share.

Equities Trading UP

China Advanced Constructn Mtrls Grp Inc (NASDAQ: CADC) shares shot up 225 percent to $7.15 after gaining 2.33 percent on Wednesday.

Shares of Smart Global Holdings Inc (NASDAQ: SGH) got a boost, shooting up 29 percent to $36.98 after the company issued strong guidance. The company updated Q1 guidance, raising adjusted EPS from 79 cents-83 cents to 90 cents-93 cents. Sales guidance was raised from $225 million-$240 million to $250 million-$260 million.

RH (NYSE: RH) shares were also up, gaining 26 percent to $104.70 after the company increased its outlook for third quarter and fiscal 2017.

Equities Trading DOWN

Intec Pharma Ltd (NASDAQ: NTEC) shares dropped 25 percent to $5.57. Intec Pharma reported a Q3 loss of $0.29 per share.

Shares of Diplomat Pharmacy Inc (NYSE: DPLO) were down 23 percent to $14.71. Diplomat Pharmacy agreed to buy LDI Integrated Pharmacy Services. Baird downgraded Diplomat Pharmacy from Outperform to Neutral.

AxoGen, Inc. (NASDAQ: AXGN) was down, falling around 10 percent to $22.42. AxoGen reported a proposed public offering of common stock.

Commodities

In commodity news, oil traded down 0.36 percent to $55.13 while gold traded up 0.21 percent to $1,280.40.

Silver traded up 0.73 percent Thursday to $17.095, while copper fell 0.39 percent to $3.065.

Eurozone

European shares closed higher today. The eurozone’s STOXX 600 surged 0.78 percent, the Spanish Ibex Index rose 0.75 percent, while Italy’s FTSE MIB Index rose 0.22 percent. Meanwhile the German DAX climbed 0.55 percent, and the French CAC 40 surged 0.66 percent while U.K. shares rose 0.19 percent.

Economics

Initial jobless claims gained 10,000 to 249,000 in the latest week. However, economists were expecting claims to reach 235,000 last week.

The Philly Fed manufacturing index dropped to 18.90 in November, versus prior reading of 27.90. Economists projected a reading of 25.00.

The import price index increased 0.2 percent for October, while export price index was flat.

U.S. industrial production rose 0.9 percent for October, beating economists’ expectations for a 0.6 percent gain.

The NAHB housing market index gained two points to 70 in November. Economists expected a reading of 67.

Domestic supplies of natural gas declined 18 billion cubic feet for the week ended November 10, the U.S. Energy Information Administration reported. Analysts expected a drop of 14 billion cubic feet.

Federal Reserve Governor Lael Brainard is set to speak in Ann Arbor, Michigan at 3:45 p.m. ET.

Data on money supply for the recent week will be released at 4:30 p.m. ET.