Monday, October 26, 2020

These 4 Companies Are Ending the Week Strong

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The NASDAQ’s 1.0% gain led the market yesterday, and the S&P 500 and DJIA posted fractional gains.

After passing its previous all-time high earlier in the week, markets aren’t sure where to go from here. Stocks are still performing strongly in spite of the inherent risks, but that could change on the drop of a dime. Unemployment claims jumped past 1 million yesterday for the first time in weeks, causing some traders to worry that the job market could be sputtering.

Asian stocks were mostly higher, with Hong Kong’s Hang Seng leading the way with a 1.3% rally. In Europe, stocks were mixed but mostly close to being flat. The Stoxx 600 is currently up a modest 0.1%.

This morning’s featured earnings slate includes John Deere (DE) and Foot Locker (FL).

These stocks are trading actively today.

Deere & Co. (DE)

Deere reported it’s fiscal Q3 earnings this morning and the results didn’t disappoint. The company’s earnings of $2.81 per share more than doubled the consensus estimates of $1.25. Revenues also topped consensus estimates at $8.93 billion, while analysts were only expecting $6.7 billion. However, Deere said it expected sales of agriculture and turf equipment to decline by about 10% in the fiscal year, and construction and forestry equipment are expected to decline 25%.

The Q3 numbers were much better than what Wall Street expected. The double-line beat is pushing DE to a 3.0% pre-market gain.

Eyepoint Pharmaceuticas Inc. (EYPT)

EyePoint Pharma received a one-time payment of $9.5 million from China-based Ocumensions Therapeutics for the rights to develop and commercialize two ophthalmic solutions, Yutiq and Dexycu. Under the deal, Ocumensions gets the rights to commercialize the drugs in several Southeast Asian countries, including South Korea. Eyepoint says it will use the funds to support its operations and development pipeline.

EYPY is trading actively this morning and it’s currently up 55.7%

Oragenics Inc. (OGEN)

Oragenics is teaming up with Avid Bioservices (CDMO) to support development of OGEN’s novel SARS CoV-2 spike protein vaccine candidate Terra CoV-2. Under the terms of the agreement, Oragenics will be responsible for analytical method development, process development, and drug manufacturing services. After the initial phase of the project is complete, both companies intend to support downstream processes. Oragenics hopes to bring Terra CoV-2 vaccine to human clinical trails by next year.

Oragenics is up sharply on news of the team up. It’s currently up 15.2%.

Foresight Autonomous Holdings Inc. (FSRX)

Foresight’s wholly-owned subsidiary Eye-Net Mobile has entered into a pilot program with a multi-billion dollar Japenese technology company to evaluate its Eye-Net™ Protect cellular-based V2X (vehicle-to-everything) accident prevention solution.The pilot project will test the devices capabilities and technical specifications. “It’s a major milestone for Eye-Net Mobile’s commercial roadmap” said Eye-Net’s CEO.

Investors like the news. FRSX is trading actively on the announcement and its currently up 9.6% in the pre-market trading session.

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