April 5, 2019 7:53am
Jobs news, Friday dominates while Pfizer's (PFE) new lung cancer drug Vizimpro gets EU approval and Roche Holdings AG Basel ADR (OTC: RHHBY) and Spark Therapeutics (ONCE) said the waiting period for the pending acquisition of the latter by the former has been extended to April 25 following the March 18 withdrawal of the premerger notification filed March 1. Roche said it intends to refile a premerger notification on or about April 10 while Merrimac Pharmaceuticals (MACK) shelves another cancer drug planning layoffs
Financing: Sangamo Therapeutics (SGMO) offering of 11 M shares has been priced at $11.50 while shares trade at $12.14
Pre-open indications: 2 BUY, 2 SELLs and 3 TRADES
It's a friday free-bee, you should be a subscriber!
My pre-open focus is indication analysis; an indication can be a development of almost any kind. Specifically, it may be a confirmed fact, a possible fact, or an absence of “something”, a fragment of information or even an observation!
Dow futures are UP +0.09% (+23 points), S&P futures are UP +0.10% (+3 points) and NASDAQ futures are UIP +0.15% (+11 points)
Stocks set to open slightly higher on US-China trade deal hopes and jobs data release set to meet expectation,
European stocks were mixed, as the latest round of U.S.-China trade talks ended without any meaningful conclusions,
Asian stock markets edged up on Friday, though shares in Australia slipped on the day. The stock markets in China and Hong Kong are closed on Friday for a holiday,
Data docket: U.S. nonfarm payrolls, which are due to be released at 8:30 a.m. ET.
- The unemployment rate is expected to have held at 3.8%, the same pace of increase as in February, according to consensus economists polled by Bloomberg. Average hourly earnings are estimated to have grown 3.4% year-over-year, the same rate as in February and the fastest pace since April 2009. Month-over-month, average hourly earnings likely grew 0.3%, just below the 0.4% increase seen in February.
Friday’s indications in the pre-market:
The iShares Nasdaq Biotechnology (IBB) is NOT indicating;
The SPDR S&P Biotech ETF (XBI) is NOT indicating;
The Health Care Select Sector SPDR ETF (XLV) is NOT indicating;
The iShares Russell 2000 (IWM) is indicating a POSITIVE +0.12% UPSIDE;
Investors continued to digest the latest developments in trade negotiations between Washington and Beijing on Friday. President Donald Trump said Thursday that swift progress had been made, adding “we’ll know over the next four weeks” whether a deal can be reached <CNBC>.
TGIF, what a week it has been – almost killed (car started burning with me in it - right out of the movie "Casino" without the car bomb) on Wednesday and the aftershocks are still with me as my car burned down to the rims; again thank you to the Waltham, Mass police and fire department!
From Thursday’s closing bell post, “another I told you so … It’s not hard to be right so often, it’s about refining expectation, defining insight and NOT being indentured to ANY financial institution! That’s why my “quantamental” blend of the two styles has become common parlance among investors and traders.”
- Range of the 14 upside was +0.05% (OSIR) to +27.27% (RENE.L) while the 33 downside ranged from -0.16% (ONCE) to -32.75% (PSTI).
- 4 out of the 14 upside had higher (than the 3 month average) volume
- 14 out of the 33 downside experienced greater volume (than the 3 month average)
- April started with 3 positive and 1 negative closes;
- In March’s 21 sessions, there were 7 negative and 14 positive closes;
- In last night’s sessions, the IBB was down -0.41%
Companies in my headlights – It’s your decision; I provide an idea and context:
bluebird bio (BLUE) closed down -$5.14 to $157.31 after Wednesday’s $162.45, Tuesday’s +$1.82 to $160.00 after Monday’s +$0.85 to $158.18 There is a negative -$1.31 or -0.83% aftermarket indication – Maintaining SELL;
CRISPR Therapeutics (CRSP) closed down -$0.09 to $38.15 after Wednesday’s +$0.34 to $38.24, Tuesday’s +$2.45 to $37.90, Monday’s $35.45 and last Friday’s $35.72 and has NO aftermarket indication – TRADE;
Editas Medicine (EDIT) closed down -$0.08 to $26.67 after Wednesday’s +$0.73 to $26.75 after Tuesday’s +$1.31 to $26.02 following Monday’s +$0.26 to $24.71 and last Friday’s $24.45 has NO aftermarket indication – TRADE;
Intellia Therapeutics (NTLA) closed down -$0.14 to $18.15 after Wednesday’s +$0.32 to $18.29 after Tuesday’s +$0.84 to $17.97 and Monday’s +$0.05 to $17.13 following last Friday’s $17.08 and has NO aftermarket indication. – TRADE;
ReNeuron Group (RENE.L) closed down -$2.00 to $121.00 after Monday’s -$1.50 to $123.00 following Friday’s $124.50 after Thursday’s $102.50 and last Wednesday’s $90.50, RENE.L is facing a -$6.20 headwind and time differential - BUY to SELL;
Sangamo Therapeutics (SGMO) closed down -$0.89 to $12.14 with an offering (in play) of 11 M shares has been priced at $11.50 – BUY;
Verastem Oncology (VSTM) closed up +$0.08 to $3.03 after Monday’s -$0.01 to $2.95 and NO aftermarket indication. I am still of the opinion that VSTM is still OVERSOLD – Maintaining BUY;
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.