August 3, 2017 7:37am
This current level of performance is not short, near or even long-term sustainable
At the moment, I don’t see the capacity to evolve or even change…
Two words to evoke: guidance and transparency
Critical indication ahead of “our” universe’s open!
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Do you know who should be up or down – I say …
Pre-open indications: 4 BUYs and 2 SELLs
The battle of the oversold and the overbought continues but, who or what is making that determination – ETFs and algorithms.
Lower open expected
Dow futures are DOWN -0.02% and NASDAQ futures are UP +0.08%
U.S. stock index futures pointed to a lower open on Thursday after the Dow broke the 22,000 milestone for the first time ever.
European markets were slightly lower, as investors monitored further earnings reports and reacted to the Dow breaking the 22,000 barrier for the first time in its 121-year history.
Asian indexes closed lower after the Dow closed above the 22,000 level and as the dollar staged a slight recovery.
Data docket: jobless claims numbers out at 0830 EST time, PMI Services Index out at 0945 EST time, Factory orders at 1000 EST time and Fed Balance Sheet figures at 1630 EST time.
The cell therapy sector closed NEGATIVE on Wednesday, Tuesday, Monday, Friday and last Thursday.
The cell therapy sector’s record over the last 5 sessions (of 43 covered companies):
· Wednesday closed NEGATIVE with 28 decliners, 14 advancers and 1 flat;
· Tuesday closed NEGATIVE with 31 decliners, 8 advancers and 4 flats;
· Monday closed NEGATIVE with 31 decliners, 9 advancers and 3 flats;
· Friday closed NEGATIVE with 25 decliners, 16 advancers and 3 flats;
· Last Thursday closed NEGATIVE with 31 decliners, 10 advancers and 2 flats;
Henry ’omics:
Is there a reprieve after five (5) down sector sessions …?
- As I had stated in last night’s post, “Even when you are right about the sector being oversold and slightly overbought. I was not utterly wrong but, neither was I completely right. Sentiment and pre quarterly financial results don’t help. The major question is what’s sustainable in this new Q3 period?”
Historically, the period from August through October has seen stocks struggle and a period when corrections have tended to occur more than often.
The real vulnerability is INVESTOR’s and TRADER’s view of this ... sector and … it AI’NT GOOD!
You’ve made it to the office, turned on the monitor, having just gotten your coffee and it hits you - what could be today’s trades?
Watch list:
- The iShares Nasdaq Biotechnology (IBB) closed up +0.40% on Wednesday and is NOT indicating a in Thursday’s pre-market;
- The SPDR S&P Biotech ETF (XBI) closed Wednesday up +0.12%, and is NOT indicating in Thursday’s pre-market;
- The Health Care Select Sector SPDR ETF (XLV) closed down -0.23% Wednesday, and is NOT indicating in Thursday’s pre-open;
- The iShares Russell 2000 (IWM) closed down -1.07% on Wednesday, and is indicating a POSITIVE pre-open of +0.02% on Thursday
Companies in my headlights:
AxoGen (AXGN) closed down -$0.50 to $15.15. AXGN reported a loss of $2.1 million in Q2/17 or -$0.06 per share. AXGN posted revenue of $15.2 million in the period. AxoGen shares have climbed 68% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.15, more than doubling in the last 12 months. The aftermarket indication was a positive +0.65 or +4.29% - BUY;
bluebird bio (BLUE) closed up +$0.1.70 to $90.85. G&A, R&D expenses were up and the net loss was $70.9 million or -$1.73 per share showing 41 M basic and diluted shares for Q2/17 compared to $58.8 million or -$1.59 per share counting basic and diluted shares of 36.9 M for Q1/216.The aftermarket indication is a negative -$0.85 or -0.94% - SELL;
Cellectis SA (CLLS) closed down -$0.62 to $23.04. OVERSOLD and the aftermarket indication is a positive +$0.22 or +0.90% - BUY;
Juno Therapeutics (JUNO) closed up +$0.71 to $28.98. OVERSOLD and the aftermarket indication is a positive +$0.16 or +0.55% - BUY;
Organovo (ONVO) closed down -$0.03 to $2.13. OVERSOLD and the aftermarket indication is a positive +$0.01 or +0.46% - BUY;
Spark Therapeutics (ONCE) closed up +$13.13 to $79.72 with an aftermarket indication of -$2.45 or -3.07%. ONCE has commenced an underwritten public offering of $300 M in shares (NO share pricing to date) of its common stock. J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Cowen and Company, LLC will act as book running managers for the offering. ONCE reported a loss of $74.4 million or -$2.40 per share in Q2. Losses, adjusted for asset impairment costs, came to $1.89 per share. The results fell short of expectations which were for a loss of $1.75 per share. ONCE also posted revenue of $1.5 million in Q2, topping forecasts having had an expectation of $1.3 million. ONCE shares have climbed 33% since the beginning of the year; the stock has risen 13%in the last 12 months – SELL on offering news;
Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice.
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors. All investments are subject to risks. Investors should consider investment objectives.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.
