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“Apple Leads Market” Vista Partners Daily Market Recap 10/21/19

By John F. Heerdink, Jr.

Apple (AAPL) hit a new high as Raymond James updated its AAPL price target from $225 to $280 today which in turn led the market forward. AAPL shares closed at $240.51/share after hitting a new all-time high of $240.99 a touch higher.

At the end of the day, the S&P 500 ended today’s session down by 20.52 points or .69% as it closed above 3k again at 3,006.72. The Dow gained 57.44 points closing at 26,827.640 up by .21%. The tech-heavy Nasdaq Composite closed above the 8k mark closing at 8,162.99 up .91% or 73.44 points. The Russell 2000, the small-cap stock market index representing the bottom 2,000 stocks in the Russell 3000 Index moved lower by 14.66 points up .95% and it ended trading at 1,550.14.

Treasury yields moved higher today.  The 2-yr Treasury yield closed at 1.59% up by .02% & the 10-yr yield finished higher at 1.79% up by .05%.

The U.S. Dollar Index was flat today closing at 97.32%.

Oil ended down .9% closing at $53.29/bbl. Chevron (CVX) closed at $116.61/share up .1.63%, Exxon (XOM) closed at $68.74/share up by 1.67%. Occidental Petroleum (OXY) closed at $40.82/share up .91%.

Gold prices closed at $1,489.60/oz. Silver closed at $17.62/oz. Hecla Mining Company (HL) closed at $1.96/share down 1.51% after a recent  report that confirmed a 30% increase in Q3 silver production of 3.3 million ounces and gold production of 77,331 ounces & cash and cash equivalents of ~$33M an $24M increase over June 30th, 2019 with outstanding debt coming in slightly lower. First Majestic Silver (AG) closed lower at $9.96/share down 2.73% after last week’s confirmation that they had record consolidated average silver recoveries of 88%, the highest in the Company’s 17-year history in Q3.

Volatility bets results were down today.  The CBOE Volatility Index (VIX) closed at $14/share up 1.75% or $.25/share. The 2x leveraged ETF TVIX  closed at $10.12/share down 5.33% or $.57/share and traded between $10.10 and $10.53 today.

Economic Reports

We did not get hit with any economic reports today.

Big Movers

Seattle Genetics (SGEN) closed trading at $100.89/share up 15.43% today as they stated their trial of tucatinib in locally advanced or metastatic HER2-positive breast cancer met its primary endpoint of progression-free survival. “There is significant unmet medical need following treatment with trastuzumab, pertuzumab and T-DM1 in patients with metastatic HER2-positive breast cancer,” said Roger Dansey, M.D., Chief Medical Officer at Seattle Genetics. “The addition of tucatinib to the commonly used doublet of trastuzumab and capecitabine represents a potential significant clinical advance for patients with metastatic HER2-positive breast cancer, importantly, including those with brain metastases. Based on these findings, we plan to unblind the trial and offer tucatinib to patients on the control arm. We also plan to submit a New Drug Application (NDA) to the FDA in the first quarter of 2020, with the goal of bringing a much-needed new medicine to patients.”


The S&P 500 healthcare sector closed at 1060.84 down .07%. UnitedHealth Group (UNH) closed lower by .58% closing at $243.92/share after a Q3 earnings beat on 10/15/19, Walgreens Boots Alliance (WBA) closed at $54.59/share down 1.28% & Cigna (CI)lost .08% closing at $166.74/share.

INVO Bioscience, Inc. (IVOB) ended the day at $.2785/share. 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 (pictured below), 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.

INVO Bioscience (IVOB) announced on August 2019 that revenues for their most recent 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.

Last Monday, INVO Bioscience announced the appointment of Steven Shum (pictured above) as the Company’s Chief Executive Officer, effective immediately. Shum succeeds Kathleen Karloff, who is planning to retire after 12+ years with the Company as its CEO. Karloff will remain in an operational role over the near term, will continue to advise, lend guidance and support to the Company, and will remain Chair of the Board of Directors. “I am extremely pleased to be named Chief Executive Officer of INVO Bioscience. I believe the Company is extremely well-positioned to expand the utilization of our proprietary INVOcell technology throughout the world through strategic partnership agreements in key international markets similar to our U.S. agreement. Further, I believe there is an opportunity to expand upon our success with INVOcell through adjacent technologies that can leverage our position in the market as a leader in fertility and women’s health. I thank Katie for creating a tremendous foundation from which to build upon and am excited to lead the Company into the future. I also appreciate her willingness to remain actively involved until her planned retirement”, stated Steve Shum. Read Complete Story.


The Ishares Nasdaq Biotechnology ETF (IBB) moved higher by 1.28% at $103.58 & the NYSE Arca Biotech Index (^BTK) closed at 4,343.55 up 1.49%.

Johnson & Johnson (JNJ) closed at $128.02 up .25%.

Atossa Genetics (ATOS) closed trading at $1.73/share on this 21st day of October’s Breast Cancer Awareness Month. Recently, Atossa and The Dr. Susan Love Research Foundation announced that the Institutional Review Board (IRB) has approved a Phase 2 clinical study of Atossa’s intraductal microcatheter technology for the administration of fulvestrant in patients with early-stage breast cancer or ductal carcinoma in situ (DCIS). Susan Love, M.D., inventor of the technology, will advise Atossa as it conducts the trial. Atossa also entered into a clinical trial agreement with a major research university named in the 8k filing that Atossa filed on 10-14-2019 to conduct their Phase 2 clinical study of Atossa’s intraductal microcatheter technology for the administration of fulvestrant in patients with early-stage breast cancer or ductal carcinoma in situ (DCIS). Atossa Genetics is the owner of issued patents, pending patent applications, and medical device FDA 510(k) premarket notifications related to the treatment of breast conditions, including breast cancer and DCIS.

“We have contracted with a world-class teaching, research, and healthcare organization based in the United States to conduct this study,” commented Steven C. Quay, Ph.D., M.D., CEO and President of Atossa. “Atossa’s intraductal technology was invented by Dr. Love and subsequently acquired by Atossa. We are honored that Dr. Love has agreed to work with us on this important new study. This work begins as Atossa increases its corporate focus on its proprietary Endoxifen for the reduction of mammographic breast density.” READ the complete story here.

Tech & Entertainment

Apple (AAPL) closed at $240.51/share up 1.73% as optimism continues to grow with regard to the new iPhone models and new streaming entertainment offering, Alphabet (GOOG) closed at $1246.15/share up .05%, Facebook (FB) closed at $189.76/share up 2.10%, Microsoft (MSFT) closed at $138.43/share up .74%, NVIDIA (NVDA) closed at $196.01/share up 2.90%. Bank of America/Merrill Lynch recently raised its NVDA price target to $250 from $225. IBM closed at $132.58/share down 1.13% as it recently missed wall street Q3 expectations while Cisco Systems (CSCO) gained 1.46% finishing at $47.39/share. Goldman Sachs (GS) recently downgraded CSCO as it views that corporate spending on technology has weakened. Disney (DIS) closed at $130.26/share down .48% and Netflix (NFLX) closed at $278.05/share up 1%. Amazon (AMZN) closed at $1,785.66/share up 1.60%. Streaming device maker Roku (ROKU) closed at $133.03/shareup 2.38% today. RBC recently issued an upgrade based upon ROKU’s valuation as it had recently declined over the last 30-days and also boosted its target price to $155 up from $107.

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