Saturday, April 17, 2021

Top 4 Stocks for Tuesday Trading Session

Stocks rallied to start the week with the Nasdaq leading the way for the second session in a row with a 1.9% advance. The S&P 500 gained 1.6% and the DJIA jumped 1.5%.

Futures are wavering in the pre-market, possibly due to uncertainty around tonight’s first-round presidential debate. S&P 500 contracts are currently struggling to gain ground ahead of the open.


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Asian stocks were mixed overnight, but the markets were pretty stable. Japan’s Nikkei 225 gained 0.1% and Hong Kong’s Hang Send fell 0.9%. European stocks are currently down with the Stoxx 600 posting a 0.3% decline.

Ten-year Treasury yields ticked down to 0.652% this morning from 0.661% on Monday, indicating a more cautious mood among investors.

Today’s featured earnings docket includes pre-market reports from McCormick [MKC] and IHS Markit [INFO]. Later, we’ll hear from Micron [MU] and Comtech [CMTL] after the closing bell.

Here’s what’s moving the market this morning.

Abbot Laboratories [ABT]

President Trump said Monday the Federal Government will distribute 150 million doses of Abbot Labs’ rapid COVID-19 antigen tests in coming weeks. Abbot will ship 100 million tests to states and territories to support the reopening of their economies, and the remaining 50 million will go to vulnerable communities like nursing homes, hospice care facilities, and tribal nation colleges.

ABT is trending higher this morning on news of the large government deal. It’s currently up 2.4% in the pre-market.

U.S. Energy Corp. [USEG]

U.S. Energy has entered into an Asset Purchase Agreement (APA) to acquire a set of assets in Wyoming and Mexico. The asset portfolio primarily consists of select upstream assets formerly owned by the now-bankrupt FieldPoint Petroleum Corp.

The transaction includes producing reserved containing more than 237,000 of oil equivalent and came with a price tag of about $500,000 in cash. U.S. Energy CEO says the acquisition fits with the firm’s strategy of acquiring properties with “significant upside potential from existing operations.”

USEG is one of the morning’s most active stocks and it’s currently up 168.5%.

Westwater Resources [WWR]

Westwater Resources announced a plan to conduct a public offering of shares currently owned by investing firm Lincoln Park. Lincoln Park will sell 3.24 million of its shares on the public market, but Westwater won’t receive any proceeds from the sale.

This secondary offering is more like a public-funded buyout than anything else. Lincoln Park is selling out of its stake and public market investors are picking up the tab.

No concrete word on why Lincoln Park wants out, but investors are applauding the move. WWR rallied 32.2% in yesterday’s session after this news broke, and the rally is continuing through the after-hours session. WWR is currently up 32.5% on active trading volume.

Aptorum Group [APM]

This tiny biotech stock is making a spectacular move this morning after the firm announced the launch of a subsidiary focusing on the development of infectious disease liquid biopsy diagnostics. The new company will be called Aptorum Innovations, and it will have an exclusive in-licensing arrangement with Accelerate Technologies, the commercialization arm of Singapore’s Agency for Science.

Aptorum Innovations will target the global molecular diagnostics market, which is expected to reach $13.8 billion by 2025. Furthermore, 60% of that total is attributable to infectious disease.

This new venture could lead to significant revenue growth for Aptorum, and investors are swarming in to get a piece of the action. APM is currently up 545.0% on active trading volume.

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