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Hot Penny Stocks Under $1 To Watch In June

Penny stocks to watch under $1 right now
The post Hot Penny Stocks Under $1 To Watch In June appeared first on Penny Stocks to Buy, Picks, News and Information…

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The definition of penny stocks is shares of companies trading below $5. But some of the most active traders in the stock market today focus on far cheaper issuers daily. Today we look at a few of the lowest-priced companies gaining attention. While there are many risks involved with stocks under $5, the cheaper you go, the greater the volatility risk you’ll encounter.

Then again, the greater the reward potential on even the slightest price change. One of the biggest problems traders have with penny stocks is some hang on too long or sell too early. Emotions aren’t easy to take out of the equation, especially when there are so many opportunities daily.

But if you’ve got a strategy in place, whether stocks breakout for days or minutes, you’ll be well-prepared. This is where today’s list of penny stocks begins. Are they top names to buy now? Should you avoid them entirely, or do they deserve a place on your penny stocks watch list while you decide?

Penny Stocks To Watch

SymbolCompany Name
NRXPNRx Pharmaceuticals
SPPISpectrum Pharmaceuticals
EPZMEpizyme Inc.
TRVNTrevena Inc.

NRx Pharmaceuticals (NASDAQ: NRXP)

Shares of NRx Pharmaceuticals exploded during Thursday’s mid-afternoon session. The biotech penny stock has been battling back after bad news in May. NRx announced the results of a review conducted by the Data Safety and Monitoring Board (DSMB). Accordingly, after review, the DSMB suggested a halt to NRx’s ZYESAMI® trial in critical COVID-19 patients.

However, even in light of this, management remained optimistic about its pipeline, namely NRX-101 in bipolar depression. The company is actively enrolling patients and expects to begin a Phase 2b/3 registrational study this year.

What To Watch With NRXP Stock

Shares of NRXP stock jumped on Thursday following a new public filing. In particular, a Form 4 was filed by Chief Scientist Jonathan Javitt showing the purchase of 100,000 shares of stock at a $0.58 average price.

Spectrum Pharmaceuticals (NASDAQ: SPPI)

Another one of the biotech penny stocks to watch is Spectrum Pharmaceuticals. The oncology company recently participated in HC Wainwright’s Global Investment conference at the end of May. It will likely be another conference event that has traders’ attention focused on SPPI stock.

Next week, Spectrum presents key data at the American Society of Clinical Oncology Annual Meeting (ASCO) on its poziotinib treatment candidate. Additional exploratory data from non-small cell lung cancer patients with a specific HER2 mutation were studied. Management has already explained that early data suggests that “reduction in ctDNA may be a predictor of response to treatment with poziotinib.”

[Read More] Good Penny Stocks to Buy Now? 3 to Watch in June

What To Watch With SPPI Stock

The company’s treatment is under review by the FDA with a PDUFA date of November 24th. It already received Fast Track designation and will likely be a point of interest on June 5th when the company presents. It’s also worth mentioning that Spectrum will attend other investor conferences this month on June 9th and 16th. So if SPPI is on your list of penny stocks, keep these in mind.

Epizyme Inc. (NASDAQ: EPZM)

Following fresh 52-week lows this week, Epizyme bounced back strong on Thursday. Despite the 1-day move only being about 7 cents, that equates to a move of roughly 17%. You might start to see the potential in penny stocks under $1. Regardless of this move, there are things that traders are focused on as to the future opportunities of Epizyme.

In particular, the company announced this week that there were updated safety and activity data from a Phase 1b safety run-in portion of a Phase 1b/3 study. The trial evaluates Epizyme’s tazemetostat combined with rituximab + lenalidomide (R2) in patients with relapsed/refractory follicular lymphoma.

What To Watch With EPZM Stock

The data showed continued improvement in objective and complete response rates, with the market reacting positively to the news. It’s also worth mentioning that Epizyme previously said in its quarterly business update that it plans on presenting this data at the ASCO meeting. Instead of next week, Epizyme presents during one of the weekend sessions on June 4th.

Trevena Inc. (NASDAQ: TRVN)

Shares of Trevena Inc. continued their recent uptrend in the stock market this week. The central nervous system treatment company has been climbing higher for the last few weeks, initially sparked by optimistic expectations from management. In its Q1 report, Trevena management explained that it is focused on advancing clinical studies for multiple pipeline candidates.

Its OLINVYK, for example, is expected to post topline data by the middle of the year. A study was designed to gauge possible changes in cognitive function in those treated with the drug compared to IV morphine. Meanwhile, the TRV045 platform in treating diabetic neuropathic pain is also being closely followed by some investors.

What To Watch With TRVN Stock

At the end of May, Trevena presented at the HC Wainwright Global Investment Conference, which resonated with traders. Since the event, shares of TRVN stock have climbed higher. Something to consider now is what happens next week. Trevena holds its annual general meeting. The company is requesting approval for additional authorized shares, which it says will result in no immediate dilution for stockholders.

[Read More] Best Penny Stocks To Buy Now? 4 To Watch Before Next Week

“The increase in authorized shares is intended to provide flexibility to execute on the Company’s business development opportunities, achieve the $10M tranche from our R-Bridge financing, and advance the Company’s products and pipeline,” said the company in a May 11 update. In light of this, TRVN could be on the list of penny stocks to watch right now.

Trading Penny Stocks

Trading and investing in penny stocks can be rewarding if you know what to look for. You’ve got other things to account for when it comes to stocks under $1 or even penny stocks under $0.50. Aside from any manipulation risk or random news catalysts, price alone can become a contributing factor. As seen on this short list of penny stocks, just a few cents can equate to meaningful shifts in percentage value.

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The post Hot Penny Stocks Under $1 To Watch In June appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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Walmart Hits Record High After Earnings Beat, Despite Soft Guidance, Warning About “Choiceful” Consumers Spending Less

Walmart Hits Record High After Earnings Beat, Despite Soft Guidance, Warning About "Choiceful" Consumers Spending Less

Walmart shares hit…

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Walmart Hits Record High After Earnings Beat, Despite Soft Guidance, Warning About "Choiceful" Consumers Spending Less

Walmart shares hit a new all-time high after the largest bricks and mortar retailer reported earnings that beat expectations despite providing guidance that was marginally softer, as choosy shoppers nevertheless kept buying in its stores.

Here is what the company report for the final quarter of 2023:

  • Adjusted EPS $1.80 (excluding impact, net of tax, from a net gain of $0.23 on equity and other investments) vs. $1.71 y/y, beating estimate of $1.65
  • Revenue $173.39 billion, +5.7% y/y, beating estimate $170.66 billion
    • Total US comparable sales ex-gas +3.9%, estimate +3.2%
    • Walmart-only US stores comparable sales ex-gas +4%, estimate +3.12%
    • Sam's Club US comparable sales ex-gas +3.1%, estimate +2.99%
  • Change in US E-Commerce sales +17%, beating estimate +15.5%
  • Adjusted operating income $7.25 billion, beating estimate $6.79 billion

Of the metrics reported, however, the most important one is that Walmart’s same-store sales (ex fuel), rose 4% YoY for US stores (of which net sales was 3.% and eCommerce added 17%). Wall Street was expecting 3.1% so the number was clearly a beat and was driven by "strength in grocery, health and wellness, offset by softness in general merchandise", and was the result of higher transactions (+4.3%) offsetting average ticket prices, which dropped 0.3% YoY. Still, the number is a far cry from the 8.3% comp sales a year ago.

In keeping with the noted softness in general merchandise, the world’s largest retailer delivered softer guidance for the current fiscal year, as it expects consumers to be selective in their spending:

  • For full-year 2025, WMT sees
    • Net sales +3% to +4%, slower than growth from the prior year, and adjusted EPS $6.70 to $7.12, slightly disappointing vs the median consensus estimate of $7.09
    • Capital expenditures approximately 3.0% to 3.5% of net sales
  • For Q1, 2025, WMT sees sees adjusted EPS $1.48 to $1.56.

Discussing the quarter, CEO Doug McMillan said that "we crossed $100 billion in eCommerce sales and drove share gains as our customer experience metrics improved, evenduring our highest volume days leading up to the holidays"

Commenting on customer "selectivity", CFO John Rainey said that “they are being choiceful" as consumers continue to spend less per trip but have been shopping frequently, adding that the company expects some resilience to continue for the rest of the year.

There was more good news: Walmart is gaining share in nearly every category, according to Rainey, with e-commerce among the factors driving growth as the company trims losses associated with handling online orders. Furthermore, while deflation is still a possibility, the company expects it to be less likely based on what it observed during the latest quarter.

That said, while grabbing more spending with low-priced groceries and other basics, Walmart has been cautious in recent months about the health of the consumer amid persistent inflation and higher interest rates. As noted above, US consumers have been buying cheaper products and seeking value, as they pull back from discretionary products like general merchandise. That has resulted in softer sales for some retailers, including Target Corp. and Home Depot Inc. Other big-box retailers are set to report their quarterly earnings in the coming weeks.

As Bloomberg notes, the recent moderation in inflation is another challenge for Walmart and other retail operators that have passed down price increases to consumers over the past few years. This has contributed to higher dollar sales for companies, followed by an uptick in revenue during the pandemic when people bought more groceries and home goods. Such increases are slowing overall, though inflation remains stubborn in some areas like groceries and shelter.

Similar to all of its major competitors, Walmart has been beefing up automation in warehouses and stores in recent years, while remodeling locations to make them more modern. Pickup and delivery businesses continue to expand, driving share gains among upper-income households and fueling growth of the Walmart+ membership program.

Separately, Walmart said it agreed to buy smart-TV maker Vizio Holding Corp. for about $2.3 billion. The deal would accelerate the retailer’s advertising business, called Walmart Connect, and help Walmart and its advertisers engage more with customers. Walmart has been expanding Walmart Connect and other nonretail businesses that have faster growth and better margins. The deal announcement confirmed a Wall Street Journal report from last week. Vizio shares soared 15% in Tuesday premarket trading.

As for WMT, the Bentonville, after the stock gained 16% over the past year, it jumped another 5.7% on Tuesday rising to a new all time high as investors were clearly satisfied with what they saw.

Full investor presentation below (pdf link)

Tyler Durden Tue, 02/20/2024 - 10:17

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Estimating US Recession Risk Using Economic Data For States

What are the choices for monitoring and estimating recession risk? Slightly lower than the number of stars in the universe. Ok, I’m exaggerating, but…

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What are the choices for monitoring and estimating recession risk? Slightly lower than the number of stars in the universe. Ok, I’m exaggerating, but not much. The good news: the search for robust, relatively reliable indicators narrows the field dramatically. But there’s always more to learn, in part because the supply of data sets is vast, increasingly so. Which brings me to another indicator that looks promising: state coincident indexes.

Every state’s economy is, in some degree, unique, although the gravitational pull of the national economy casts a long shadow. Tracking each state economy separately, and then aggregating the results, provides a different spin on the US business cycle compared with national indicators. Think of it as a bottom-up model vs. the standard top-down approach via US retail sales, industrial production, etc.

Conveniently, the Philly Fed publishes monthly coincident indicators for each state. Aggregating the 50 signals into a composite index provides a somewhat different view of the US business cycle vs. traditional top-down metrics. There are several ways to process the numbers – my preference, shown in the chart below, is a 3-month-change model. If a state’s 3-month change is negative (positive), the signal is negative (positive). Summing the negatives and positives provides a national profile. The current reading is 0.48 — in other words, 48% of the states are posting negative 3-month changes for their respective coincident indicator. As shown below, the composite reading maps fairly closely with NBER-defined downturns, and so the current signal is issuing a warning, albeit a warning that has yet to provide what might be thought of as passing the point of no return. But it’s close.

The readings vary from 0 (no negative 3-month changes) to 1.0 (all 50 states are reporting negative 3-month changes). A quick review of the historical record suggests that the US is on the verge of slipping into recession.

But before we ring the alarm bell, there are some caveats to consider. First, a similarly high reading 20-plus years ago turned out to be a false signal. The next couple of months will likely determine if a repeat performance is brewing, or not.

Second, no one indicator is flawless, as we’ve learned over the last couple of years – especially in recent history, when pandemic-related events have created no shortage of macro surprises.

Another reason to reserve judgment, at least for now: a range of other business cycle indicators tracked in The US Business Cycle Risk Report (a sister publication of CapitalSpectator.com) continue to show a clear growth bias. But as reported in this week’s issue, there are some nascent signs of softer economic activity and so it’s possible that the coincident state indicators are an early warning that the tide is shifting.

The most reliable methodology for estimating recession risk in real time is building an ensemble model that combines various modeling applications that are complimentary. Although any one model will excel at a given point in time, quite often the best-performing indicator changes through time. To minimize the risk that’s inherent in any one signal, The US Business Cycle Risk Report crunches the numbers on multiple indicators, which has proven to be close to optimal for balancing the need for timely signals that minimize false signaling.

Despite the caveats, the coincident state model adds another dimension to the mix and provides some complimentary input to The US Business Cycle Risk Report’s existing suite of indicators. Accordingly, I’ll be adding the composite state coincident data to the newsletter’s weekly updates.

The next batch of coincident state updates for January is scheduled for later this month. Meantime, I’ll be carefully reviewing the incoming data for fresh clues that support or reject the suggestion that trouble’s brewing via the state coincident indicators.


How is recession risk evolving? Monitor the outlook with a subscription to:
The US Business Cycle Risk Report


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Air Canada Says Freight Demand Beginning To Improve

Air Canada Says Freight Demand Beginning To Improve

By Eric Kulisch of FreightWaves

Air Canada expects the slow recovery in cargo volume…

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Air Canada Says Freight Demand Beginning To Improve

By Eric Kulisch of FreightWaves

Air Canada expects the slow recovery in cargo volume that began in the fourth quarter to quicken in 2024, aided by the addition of two more freighter aircraft, but doesn’t anticipate gains in pricing power, Mark Galardo, executive vice president for network planning and revenue management, said Friday.

The cargo division within Air Canada (TSX: AC) currently operates five converted and two factory-built Boeing 767-300 freighters. It is scheduled this year to receive two cargo jets converted from passenger configuration, but delivery of a third plane has been delayed until 2025 because of lingering supply chain and labor challenges faced by aerospace manufacturing companies, said Galardo on the company’s fourth-quarter earnings call.

The company nonetheless expects cargo capacity to increase 6% to 8% this year with the addition of the two freighters and more passenger aircraft that also carry cargo. The converted freighters are retired Air Canada passenger jets that are being retrofitted by aftermarket aerospace firms for carrying large containers in the main cabin area.

Cargo revenue fell 15% year over year in the fourth quarter to US$181 million on soft demand and lower yields, Air Canada reported. The three-month period represented an improvement from prior months as the downturn in freight transportation that gripped the air logistics industry for nearly 18 months began to ease. Full-year cargo revenue fell 27% to $253.7 million.

At the end of 2023, Canada’s flag carrier operated four more 767 freighters than at the end of 2022. Freighters were reintroduced at the company two years ago. Increased freighter operations to Central and South America and to Europe partially offset the year-over-year decline. Air Canada also enhanced its interline cooperation with Emirates SkyCargo, which allows customers to book interline cargo shipments through the Emirates SkyCargo flights, including between the Americas and Southeast Asia and India, through key European hubs. 

“We had a bit of a slower start in January, but as we look into February and beyond we’re starting to see volumes pick up and yields also pick up. And our 2024 assumption on cargo is more volume-driven than yield-driven. So we’re starting to see some positive indicators,” Galardo told analysts. “We’ve taken all the necessary measures to position ourselves to take advantage of the recovery. This includes strategically adjusting our freighter plan so that we can keep focusing on proven overall results for the long term and on maximizing cargo network value for our entire fleet.”

Air Canada in late September canceled an order with Boeing for two 777-200 production freighters because of the reversal in airfreight demand following the pandemic-fueled boom for air transport that lasted until early 2022. It then ordered 18 787-10 Dreamliners, including two that were swapped for the 777 freighters. Management, at the time, reiterated its commitment to operating freighters, saying that it needed to take a more measured approach to fleet expenditures and keep more cash available for other purposes.

Air Canada expects another leap in cargo business when the 787-10s begin entering the fleet in late 2025. But ongoing safety and manufacturing problems at Boeing could upset the delivery schedule. Production flaws have previously prevented customers from receiving Dreamliners on time.

“As we eventually receive the larger 787-10s, taking advantage of global cargo flows through our hubs will become an important lever for further diversifying revenue streams,” said Galardo. 

Air Canada performed well on cargo against its peers during the fourth quarter. Delta Air Lines and American Airlines saw cargo revenue slide 24% during the period, and Korean Air said its cargo sales fell nearly 29%. The percentage change in revenue at Air Canada was on par with the 14.8% decline at United Airlines. On a total dollar basis, Air Canada cargo revenue was less than that of the other carriers. The three major U.S. airlines are much larger than Air Canada but also do not have a dedicated cargo fleet. Delta was the closest to Air Canada at $188 million in revenue.

Overall, Air Canada generated $3.9 billion in revenue, up 11% from the prior year, during the final three months of 2023. But earnings before interest, taxes, depreciation and amortization of $386.4 million came in below expectations. On an adjusted basis, the company lost $32.6 million versus a loss of $162 million the year before. Higher wages, maintenance costs and flying volumes pushed expenses up 8%. Inflation is expected to increase costs another 4.5% to 5% in 2024, offset in part by productivity gains.

Tyler Durden Tue, 02/20/2024 - 06:30

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