Saturday, April 17, 2021

4 Stocks Making Big Moves Today

Stocks barely managed to hold onto their gains last week after several choppy trading sessions shook up the market. The blue-chip Dow Jones index led the pack with a 1.8% gain while the NASDAQ gained less than 0.1%. The S&P 500 advanced 0.6% and is coming close to its pre-pandemic highs.

The market is set to open the week in the green today with early morning futures action pointing towards a higher open. Trading volume continues to be thin, but that’s typical of late summer in the stock market.


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In Asia, Japan’s Nikkei 225 closed 0.8% lower after economic data revealed the country suffered its worst contraction on record in the second quarter. Japanese GDP fell 7.8% in Q2 to mark the biggest decline since 1980. Meanwhile, China’s Shanghai index rallied 2.4% after the country’s central bank injected $101 billion into the banking system through its medium-term lending facility, a move that could possibly lead to lower interest rates.

European stocks are mostly in the green midway through their trading session. The British FTSE 100 is currently leading the way with a 0.4% gain, and the Eurozone Stoxx 600 is up a modest 0.2%.

This morning’s featured earnings slate includes JD.com (JD). After the close, look out for Dolphin Entertainment (DLPN).

These stocks are trading actively today.

JD.com (JD)
The Chinese search giant released its Q2 earnings figures this morning and the market is happy with what it sees. JD’s net revenues grew 33.8% to reach $28.5 billion in the second quarter with general merchandise sales contributing $9.1 billion to the total, while net income came in at at $2.3 billion. The company says it has “steadfastly managed” it’s “distinctive supply chain and technology capabilities” to create jobs and support its business partners in the aftermath of the pandemic.
JD’s second-quarter earnings topped analyst expectations and the unexpected beat is fueling demand for the stock this morning. JD is trading actively and its currently leading the NASDAQ with a 4.8% gain.
Barrick Gold (GOLD)
Barrick Gold is on the rise today after news broke that Warren Buffett’s Berkshire Hathaway (BRK.B) took a large stake in the firm. Last Friday, Berkshire disclosed a new 20.9 million share investment in Barrick. Buffett has a cult following, and many traders watch his moves closely.
The fact that Buffett’s company took a position in Barrick indicates that the company has strong management and and good long-term value. Barrick also announced a dividend increase last week thanks to increased profits from rising gold prices.
GOLD is one of the pre-market’s most active stocks and it’s currently up 7.7%.
Comstock Mining (LODE)
This micro-cap mining firm hit a home run on its Q2 earnings today. Comstock reported a profitable quarter with earnings of $0.05 per share . The firm also reported a series of positive strategic developments, including a property sale expected to close this quarter. The firm also reported it increased investment in Mercury Cleanup LLC to $1.75 million, and the installation of the Comstock mercury remediation system is underway.
LODE Is one of this morning’s top stocks with a 77.2% pre-market gain.
LMP Automotive (LMPX)
LMP Automotive is also making a sharp move after releasing its Q2 earnings report this morning. The company reported record financial results for the first quarter, including 44% quarterly revenues growth and a 85% increase in gross profits. The company also announced plans to launch its subscription e-commerce platform on Google Play and Apple App Store in the third quarter.
The market is bullish on the LMPX earnings report. It’s one of this mornings top-gaining stocks and it’s currently up 45.8%.

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