Energy Oil prices dropped today again today down .7% closing at $55.28/bb. The energy sector was down .5%. Dow 30 energy participants Chevron (CVX) moved lower by .13% closing at $117.73/share & Exxon (XOM) closed lower by .22% closing at $69.57/share. Occidental Petroleum (OXY) closed at $44.70/share down .80% after their recent sale of $13 billion of debt to fund their Anadarko Purchase.
Metals & Mining Gold prices closed back below $1500/oz at $1497/oz. Silver closed at $17.17/oz. Hecla Mining Company (HL) closed at $1.58/share down 2.32%. This week, MONARCH GOLD CORPORATION (MQR.TO) (MRQRF) (MR7.F) announced the closing of the acquisition of an aggregate 100% interest in the Fayolle property from Hecla Quebec Inc. (“Hecla”) (HL), formerly known as Aurizon Mines Ltd., and Typhoon Exploration Inc. (“Typhoon”) (TYP.V). In exchange, Monarch has issued 12 million shares to Hecla and 3.4 million shares to Typhoon. Monarch has also paid Typhoon an amount of $500,000 and will pay an additional $500,000 in five months and $150,000 in 12 months. The shares issued to Hecla and Typhoon are subject to restrictions on their transfer for periods of up to 24 months.
Healthcare The S&P 500 healthcare sector closed at 1049.81 down .49%. UnitedHealth (UNH) closed down 3.08% closing at $232.94/share, Walgreens Boots Alliance (WBA) closed at $50.95/share up .10% & Cigna (CI) lost 4.04% closing at $155.78/share post their recent Q2 earnings beat. INVO Bioscience, Inc. (IVOB) ended the day at $.3075/share as daily trading volume continues to rise in concert with their announcing progress after their exclusive U.S. partnership with Ferring Pharmaceuticals, a leader in the reproductive health industry was announced in Q1-2019. Ferring has committed to providing the necessary sales and marketing resources to more fully develop the market in the United States. There are countless couples not able to receive reproductive treatments today, and Ferring can be instrumental in addressing the unmet needs of this cohort. Ferring has the industry experience, relationships and the marketing capabilities to successfully embed the INVOcell in clinics throughout the country. IVOB is a medical device company, headquartered in Sarasota, FL focused on creating simplified, lower-cost treatment options for patients diagnosed with infertility. The company’s lead product, the INVOcell, is a novel medical device used in infertility treatment that is FDA cleared and that enables egg fertilization and early embryo development in the woman’s vaginal cavity. Last week, INVO Bioscience (IVOB) announced that revenues for the quarter totaled $658,638 compared to $110,210 in the second quarter of 2018, an increase of 498%. Revenue growth was driven primarily by increased product sales in the U.S. as shipments to Ferring were above expectations outlined in May 2019 as they began to increase their marketing activities. On January 14, 2019, the Company closed an exclusive U.S. licensing agreement with Ferring International Center S.A. the parent Company of Ferring Pharmaceuticals U.S. to commercialize the INVOcell™ system for use in the treatment of infertility. As part of the U.S. licensing agreement, the Company received a $5 million one-time milestone payment, with the ability to receive an additional $3 million upon obtaining a label enhancement from the U.S. Food and Drug Administration. Read Complete Story.
Biotech The Ishares Nasdaq Biotechnology ETF (IBB) moved lower down .82% closing at $105.17. The 52-wk range is $89.01 – $122.97.
Consumer Staples and Discretionary
Walmart (WMT) closed at $111.91/share down .10% after their recent earnings beat and positive guidance.
Disney (DIS) closed at $136.08 up .24% after recently revealing that it will launch its new streaming service Disney+ in Canada & Netherlands on November 12th and then in Australia and New Zealand the next day.The Home Depot (HD) closed at $221.02/share up .28%. Target (TGT) closed at $106.32/share moving up another 3.22% after yesterday’s 20.4% jump after beating earnings estimates. Boeing (BA) closed at $354.41 up 4.2% as reports surfaced that the company is planning to increase the production of the 737 to 52/mo in February 2019 if they get the sign off from regulators that allow the commercial return of the troubled 737 MAX.
The financial sector was up .6% today.
Och-Ziff Capital Management (OZM), soon to be renamed Sculptor Capital Management, closed at $22.39/share off .67% after their recent earnings beat and positive guidance.JPMorgan Chase & Co. (JPM) closed at $108.72/share up 1.03%. Goldman Sachs (GS) closed at $202.42/share up .87%.
EconomyWednesday we received the existing home sales report which confirmed an 2.5% increase 2.5% m/m in July resulting in a seasonally adjusted annual rate of 5.42M. Total sales came in .6% higher than a year ago. The weekly MBA Mortgage Applications Index report showed a decline of .9%. Today, we received the initial jobless claims report and moved lower to 209,000 for the week ending August 17 & continuing claims dropped to 1.674 million for the week ending August 10. The Conference Board’s Leading Economic Index (LEI) moved up .5% in July.
Day or Short Term Trading Update Last Thursday’s buy of Bloom Energy ( BE) at $5.06/share and $4.99/share paid off as it surged to $5.70 about a 14% move. We were seeking a swing back up to at least the high $5’s after its recent beat down and we got it. We identified San Jose, CA’s Zscaler (ZS), a cloud-based web security provider, as a a bounce play after it got slammed earlier this week after being downgraded and closed down at $70.80. ZS popped then to $74.51/share for an approximate 5% gain. The Hain Celestial Group (HAIN) was also identified as another bounce play. HAIN shares closed trading at $18.36/share Wednesday after a recent analyst downgrade and a simultaneous price drop from the $22 level that seemed to be triggered by fears surrounding The Brexit issue and timeline. Today shares rose to a intraday high of $18.99 and then closed at $18.91 for 3% move.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. Stay Informed! Stay Competitive! Sign Up to receive FREE email updates here!