| The Nasdaq gained 0.4% on Thursday, while the S&P 500 slid to a 0.1% loss. The Dow fell 0.3% on the session, while the small-cap Russell 2K lost 0.1%. Today, futures are fluctuating between gains and losses in the premarket. Today's 8:30 a.m. ET July Jobs Report will likely set the tone for today's trading session. Top-10 Stocks for Investment Income this Summer ð°
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Goldman Sachs' credit card practices are being investigated but CFPB regulators, including how the company manages refunds and billing disputes. Crypto broker Voyager Digital Is Cleared to Return $270 Million to Customers after the company settled the outstanding issue as part of its bankruptcy filing. Atlassian Corp [TEAM] - Last Close: $230.41 Atlassian Corp is surging on a strong earnings report. The software company reported its Q4 and full results for fiscal year 2022 after Thursday's closing bell. Atlassian reported adjusted net income of $0.27 per diluted share, marking a modest increase from the year-earlier quarter's $0.24 EPS.
Revenues came in at $759.8 million for the quarter, up from $559.5 million a year earlier. Both figures topped the Street's target of $0.26 EPS on revenues of $724.3 million. Atlassian's Q1 guidance also topped analysts' expectations. TEAM is leading the Nasdaq-100 with a 10.5% gain on active volume.
Our Take: Solid growth for this large-cap software stock, but the company isn't as strong as it looks at first glance. Atlassian took a loss for the quarter, but its "adjusted" earnings showed a profit. I think there are better stocks in this sector. Marker Therapeutics [MRKR] - Last Close: $0.33 Marker is up big today after announcing a key FDA approval. The immuno-oncology firm said late Thursday that its investigational new drug (IND) application for its new non-Hodgkin lymphoma therapy was approved. The FDA approval of Marker's IND for MT-601 means the company can move forward with designing and planning a clinical trial that will build upon the drug's Phase I/II TACTAL results. Markerâs MT-601 Phase 1 trial will focus on r/r NHL patients who have failed CD19 CAR-T therapy, or those who are ineligible for treatment with those therapies. The company plans to kick off its Phase 1 study of MTM-601 in 2023. News of the FDA approval is lifting MRKR to a 99.3% gain on highly-active trading volume. Our Take: Yellow put up solid Q2 numbers, but a tight labor market and record-high fuel costs are hitting the trucking and transportation industry hard. Yellow might not be feeling the heat just yet, but that could change very quickly. Evofem Biosciences [EVFM] - Last Close: $0.898 Strong earnings are powering shares of Evofem Biosciences to big premarket gains. The biopharma firm announced its Q2 results following Thursday's close and reaffirmed its full-year guidance for 2022. Evofem's net product sales for Q2 came to $6.0 million, marking a 42% increase from the previous quarter. The company also reduced its operating expenses and improved on its operating loss by 16% compared to the previous quarter.
EVFM's strong quarter is lifting shares to a 19.2% premarket gain on active volume. Our Take: Evofem's earnings were better than expected, but this stock shouldn't be looked at as anything more than a speculative pharma play. It's a small company that's a long way from turning a profit. Athenex Inc [ATNX] - Last Close: $0.6299 The M&A rumor mill is driving up shares of Athenex this morning. Yesterday, The Financial Times published an article highlighting an ongoing bidding war between suitors hoping to acquire Athenex. The article was titled, Intas & Dr Reddy's in Race with PEs to buy US' Athenex, and it sparked a whirlwind of speculation around this tiny biopharma firm. According to the article, India's Intas Pharmaceuticals and Dr Reddy's Laboratories are in talks to acquire the US biopharma firm in a $200 to $250 million deal. News of this stock's buy-out potential is sending shares higher in the premarket. ATNX is trading actively with a 60.3% gain. Our Take: It sounds like Athenex is eager to make a deal, and there's a lot of demand in the market. The ongoing bidding war could present several opportunities for catalysts, but shares could plummet if something goes wrong and a deal doesn't get made. |
