July 25, 2019 8:52am
As tech stocks come under a microscope after the Justice Department announced a broad antitrust review
Pre-open indications: 3 BUYs and 5 SELL
It's a daunting task to understand risk, seeing the unforeseen; on the basis of my own “rules”, I set-up my own “warning analysis” which isn’t machine oriented!
I make a commitment to provide need-to-know “facts in evidence” as equity’s volatility is one tactical signal for stocks.
Dow futures are UP +0.19% (+51 points), S&P futures are DOWN -0.05% ( -2 points) and NASDAQ futures are DOWN -0.35% (-28 points)
U.S. stock index futures were mixed as investors gear up for another day of earning releases,
European markets were higher ahead of the ECB rate decision as the pan-European Stoxx 600 was up around +0.3% during mid-morning deals,
Most major Asia Pacific stock markets closed higher as semiconductor stocks in Japan and South Korea rose.
Data docket: last week’s jobless claims figures are due at 8:30 a.m. ET, along with June’s durable goods orders and advance economic indicators. Second-quarter housing vacancies data is due at 10 a.m. while July’s Kansas City Fed survey is scheduled for 11 a.m.
Bristol-Meyers Squibb (BMY) reports today – but what they don’t have will be an indicator for biotech to round-out their platforms and pipeline.
Q2 earnings update:
- “Our” universe earnings kick-off on 8/1 with Intellia Therapeutics (NTLA), Verastem Oncology,(VSTM), BioMarin Pharmaceuticals (BMRN), Ultragenyx Pharmaceuticals (RARE) and Sage Therapeutics (SAGE); Alnylam Pharmaceuticals (ALNY) and AxoGen (AXGN) on 8/6, Athersys (ATHX) on 8/7 and Organovo (ONVO) on 8/8.
Investors continue to monitor trade developments with U.S. and Chinese negotiators set to meet next week. However, U.S. Treasury Secretary Steven Mnuchin told CNBC on Wednesday that the two nations still have a lot of issues to work out.
Meanwhile, the European Central Bank is set to announce its latest monetary policy decision, with traders speculating that President Mario Draghi could signal a September rate cut with a change in guidance on Thursday <CNBC>.
From Wednesday’s evening post, “pleasantly surprised as the sector flipped to the upside with a close and an Advance/Decline (A/D) line of 27/14 compared to the open of 9/32.”
- The NASDAQ was up +70.10 or +0.85% to 8,321.50;
- The close was positive with an A/D Line of 27/14 and 2 flats and 2 acquired;
- Wednesday’s range of the 27 upside was +0.06% (CRSP) to +9.89% (CUR +$0.45 after reverse) while the 14 downside ranged from -0.55% (ALNY) to -25.07% (PSTI);
- 9 out of the 27 upside had higher than the 3 month average volume;
- 3 out of the 14 downside had higher than the 3 month average volume;
- Wednesday the IBB closed up +0.28% while the XBI closed up +0.90%
Q3/19 so far: there were 7 positive, 1 holiday and 10 negative closes;
Companies in my headlights – It’s your decision; I provide an idea and context:
- Ions Pharmaceuticals (IONS) - BUY
- uniQure (QURE) - BUY
- Sage Therapeutics (SAGE) – BUY;
BioLife Solutions (BLFS) with a $3.70 or +18.6% premium in eight (8) sessions - SELL;
bluebird bio (BLUE with a $5.62 or +4% in three (30 sessions - SELL;
Editas Medicine (EDIT) closed up +$0.61 and gas a $2.15 or 9% premium in four (4) sessions - SELL
CRISPR Therapeutics (CRSP) closed up +$0.03 and has a slowing and dipping chart – SELL;
Intellia Therapeutics (NTLA) closed up +$0.49, a topping chart and a seven (7) session +10% or $1.74 premium – SELL;
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.