July 11, 2023 8:00am
Sector equities seem skittish while some could remain range bound
Pre-open Indication: 2 Positive and 2 Negative Indications and 3 Sell into Strength
My interpretation of the morning’s numbers is written to be informative; it’s built on what happened or will happen behind the headline today, not yesterday with a bit for tomorrow.
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8:00 a.m. edition
Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session. My interpretation of the morning’s numbers is written to be informative; it’s built on what will happen behind the headlines today, not tomorrow or yesterday
Dow futures are UP +0.14% or (+49 points), S&P futures are UP +0.19% or (+8 points) and NASDAQ futures are UP +0.23% or (+34 points) early in the pre-open – so far
U.S. stock futures were positive and fluctuating on Tuesday,
European markets were mostly higher,
Asia-Pacific markets rose on Tuesday.
Henry’omics:
We need to more than consider the economic environment - rising rates and inflation to comprehend the micro re “our” universe of cell and gene therapy companies …
Monday, indexes closed up after being down and mixed for most of the session; as The Dow closed UP +209.52 points (+0.62%), the S&P closed UP +10.58 points (+0.24%) while the Nasdaq closed UP +24.76 points (+0.18%).
Economic Data Docket: June’s NFIB Small Business Index, a measure of business confidence; economists are anticipating a reading of 90.0, slightly higher than the 89.4 level in May.
· inflation data on consumer price index report is due on Wednesday and the producer price index on Thursday
Monday, July 10, 2023, RegMed Investors’ (RMi) closing bell: “cell and gene therapy sector regains some altitude. However, expectations are for LPS (loss-per-share) Q2 earnings to incline while runways slip. “… https://www.regmedinvestors.com/articles/13037
Ebb and flow:
Q3: July - 1 holiday, 3 positive and 2 negative close
Q2/23 -
· June -1 Holiday, 9 negative and 11 positive closes
· May – 10 negative and 12 positive closes
· April ended - 1 holiday, 8 positive close and 11 negative closes
Q1/23 –-
· March – ended with 10 positive and 13 negative closes
· February – 1 holiday, 2 vacation, 7 negative and 8 positive closes
· January – 2 holidays, 11 positive and 9 negative closes
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
Negative Indications:
Monday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Sage Therapeutics (SAGE closed up +$1.56 after Friday’s +$0.17, Thursday’s -$1.55 and Wednesday’s -$1.03 with a negative -$1.07 or -2.26% aftermarket indication.
Generation BIO (GBIO) closed up +$0.24 with a negative -$0.28 or -4.93% aftermarket indication.
Positive Indications:
Monday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Beam Therapeutics (BEAM) closed up +$1.56 with a positive +$0.96 or +3.03% pre-open indication.
Blueprint Medicine (BPMC) closed down -$0.73 after Friday’s +$0.32 after Thursday’s -$2.76 and Wednesday’s +$0.53 with a positive +$1.44 or +2.44% aftermarket indication.
Sell into Strength:
Monday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Agenus (AGEN) closed up +$0.18 with a flat pre-open indication and a SEC for a shelf filing for an offering.
BioLife Solutions (BLFS) closed up +$0.92 with a flat aftermarket indication.
bluebird bio (BLUE) closed up +$0.21 <+6.14%> with a negative -$0.02 or -0.55% pre-open indication.
The BOTTOM LINE:
I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all, as I try to keep it simple and short!
Q3/23 – July: so far
· Monday closed positive with 25 incliners, 7 decliners and 3 flats
· Friday closed positive with 24 incliners, 11 decliners and 0 flat
· Thursday closed negative with 11 incliners, 24 decliners and 0 flat
· Wednesday closed negative with 13 incliners, 22 decliners and 0 flat
· Tuesday was a holiday
· Monday closed positive with 20 incliners, 13 decliners and 2 flats
Investors are anxious to see if price pressures are continuing to moderate. That could shed light on the interest rate outlook, with many traders expecting the Fed to raise interest rates by 25 basis points this month. <Reuters>
NOT feeling GOOD about the week – that means BAD. I am also maybe going lighter this week (on writing) to TRY to get a vacation day or more just slow it down.
Earnings are about to be ready for release – questions are …RUNWAYS on track for further growth?
Interesting SEC filing … re Biostage (OTCQB: BSTG) <SEC Form 8-K/A and SEC Form 4/A> their NEW Chairman/CEO has his employment agreement AMENDED … REDUCING his “number of milestone-based options granted to Mr. He”
"Time in the market is better than timing the market" is investing wisdom that's maintained its relevance for a reason.” <Nasdaq>
I hate to be so negative or contrarian but, this is a NO spin zone and truth is its product; I can always be WRONG but, I am mostly EARLY!
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.
All investments are subject to risks. Investors should consider investment objectives.
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.
Regulation Analyst Certification (Reg AC): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions securities referred to in this publication.
