Energy The energy sector rose 1.4% as oil prices closed at $56.21/bbl up 4.3%. Dow 30 energy participants Chevron (CVX) moved higher by .84% closing at $117.25/share & Exxon (XOM) closed higher by 1.06% closing at $69.29/share. Occidental Petroleum (OXY) closed at $43.58/share up 2.11% after their recent sale of $13 billion of debt to fund their Anadarko Purchase.
Metals & Mining Gold prices closed at $1554.31/oz. Silver closed at $19.64/oz. Hecla Mining Company (HL) closed at $1.94/share up 2.65%. First Majestic Silver closed higher at $11.32/share up .35%.
Healthcare The S&P 500 healthcare sector closed at 1040.31 up .01%. UnitedHealth (UNH) closed down 1.69% closing at $226.73/share, Walgreens Boots Alliance (WBA) closed at $51.43/share up 1.98% & Cigna (CI) lost 1.32% closing at $152.94/share post their recent Q2 earnings beat. INVO Bioscience, Inc. (IVOB) ended the day at $.2948/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, 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. Recently, 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 higher up .06% to close at $101.21. Acasti Pharma Inc. (ACST), a biopharmaceutical innovator focused on its prescription drug candidate CaPre for the treatment of severe hypertriglyceridemia (HTG), closed today’s trading at $1.99/share up 10.56% after hitting an intraday high of $2.03 on trading volume of 2.04 million. B. Riley recently initiated coverage with a BUY Recommendation and a Price Target of $7.75/share.
Consumer Staples and Discretionary
Walmart (WMT) closed at $115.91/share 1.11% after their recent earnings beat and positive guidance.
Disney (DIS) closed at $137.89 up 1.16% 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 $224.15/share up .65%. McDonald’s (MCD) closed at $218.50/share up .63%. Target (TGT) closed at $107.36/share up .61%. Boeing (BA) closed at $356.53/share up .60%. Reports recently 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.
FinancialsS&P 500 Financials sector closed up 1.1%. JPMorgan Chase & Co. (JPM) closed at $109.87/share up 1.21%. Goldman Sachs (GS) closed at $201.73/share up 1.39%.
TechS&P 500 Technology Hardware & Equipment sector closed at $1241.50 up 1.71% Apple (AAPL) closed at $209.19/share up 1.7%. Cisco Systems, Inc. (CSCO) closed at $47.32/share up 1.76% IBM (IBM) closed at $136.32/share up 1.66%. Microsoft (MSFT) closed at $137.63/share up 1.17%. Facebook (FB) closed at $187.14/share up .05%. Amazon (AMZN) closed at $1,800.62/share up .60%. Netflix (NFLX) closed $291.52/shareup .77%. Google (Alphabet, Inc.) (GOOG) closed at $1,181.41/shareup 1.11%.
EconomyMonday was Labor Day so we did not receive any readings. On Tuesday, the ISM Manufacturing Index for August was confirmed in at 49.1% which was the first contractionary reading (below 50%) in 3 years. Total construction spending, however, came in higher up .1% month/month 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 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, a leading organic and natural products company with operations in North America, Europe, Asia & the Middle East, was also identified as another bounce play. HAIN shares closed trading at $18.36/share Wednesday (Aug. 21st) 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. Thursday, Aug 22nd, HAIN shares rose to an intraday high of $18.99 and then closed at $18.91 for 3% move. On Aug. 28th The Hain Celestial Group (HAIN) announced the completion of the divestiture of its Tilda to Ebro Foods for $342 million in cash. We reentered HAIN stock at $18.30/share and it moved to an intraday high of $18.66 prior to closing at $18.36/share up .99%. HAIN is due to report Q4 and fiscal year 2019 earnings tomorrow at 8:30 am eastern. Today HAIN hit an intraday high of $19.69/share and closed at $19.03 up 3.65%. This was another successful exit. Thursday, Aug. 29th we also entered into Acasti Pharma Inc. (ACST) at $1.81/share for a momentum trade and targeting minimal price target of $2/share and then added additional shares at $1.79. ACST is a biopharmaceutical innovator focused on its prescription drug candidate CaPre for the treatment of severe hypertriglyceridemia (HTG). ACST shares closed today’s trading at $1.99/share up 10.56% after hitting an intraday high of $2.03 on trading volume of 2.04M shares. B. Riley initiated coverage with a BUY Recommendation and a Price Target of $7.75/share earlier this week. We locked in our quick trade at $2/share today for ~11.5% gain. We will look to reenter ACST if we see a significant pullback.
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