“Microsoft, Dow, Paypal, INVO Bioscience, & Tesla Jump Today” Vista Partners Daily Market Recap 10/24/19

By John Heerdink LinkedIn

Shares of Microsoft (MSFT), Dow (DOW), Paypal (PYPL), INVO Bioscience (IVOB) & Tesla (TSLA) all jumped today.  Microsoft released Q3 earnings after the close yesterday beating expectations as cloud services boosted revenue and ended today’s trading at $139.94/share up 1.97%. Dow (DOW)  pushed up 4.74% closing at $49.47/share after beating expectations. Paypal (PYPL) jumped 8.56% closing at $104.91/share after transaction volume boosted earnings and they beat Q3 expectations on net sales of $10.8B. INVO Bioscience (IVOB),  a medical device company focused on creating alternative treatments for patients diagnosed with infertility and developers of INVOcell®, the world’s only in vivo Intravaginal Culture System, announced the receipt of a CE Mark for its INVOcell culture and retention device. The receipt of the CE Mark is the final requirement for INVO Bioscience to begin commercially distributing the revolutionary alternative to traditional IVF through the entire European Union. Shares of IVOB shot up an 11.9% closing at $.316/share. Tesla (TSLA) skyrocketed up 17.67% closing at $299.68/share after surprising Wall Street in Q3 as they showed a profit. 3M (MMM) closed at $161.89 -4.1% after reporting mixed results and disappointing wall street with its less than optimistic outlook.

On the macroeconomic front, Bloomberg News reported that positive headlines from the US-China trade as China is apparently now willing to purchase a minimum of $20B of US ag products in the first year after a partial trade deal is signed. Thursday also saw that new home sales fell .7% month/month to a seasonally adjusted annual rate of 701k units & on Y/Y new home sales were increased by 15.5%. The durable goods orders report for September dropped by 1.1%. Also, excluding transportation, durable goods orders decreased .3%. Initial claims for the week ending October 19 fell by 6k to 212k while continuing claims for the week ending October 12th dropped by 1k to 1.682M.

At the end of the day, results were mixed.  The S&P 500 ended today’s session up by 5.77 points or +.19% as it closed above the 3k level again at 3,010.29. The Dow lost 28.42 points closing at 26,805.33 -.11%. The tech-heavy Nasdaq Composite closed above the 8k mark again closing at 8,185.80 +.81% or +66 points. The Russell 2000, the small-cap stock market index representing the bottom 2,000 stocks in the Russell 3000 Index moved lower by 2.67 points -.17% and it ended trading at 1,550.18.

Treasury yields wended flat today.  The 2-yr Treasury yield closed at 1.58% & the 10-yr yield finished lower at 1.76%.

The U.S. Dollar Index strengthened by .1% today closing at 97.68.

Oil moved .7% higher again today closing at $56.23/bbl. Chevron (CVX) closed at $117.58/share -.34%, Exxon (XOM) closed at $69.09/share -.95%. Occidental Petroleum (OXY) closed at $42.29/share -1.47%.

Gold prices closed at $1,496.75/oz. Silver closed at $17.61/oz. Hecla Mining Company (HL) closed at $2.01/share +.50% 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 higher at $10.45/share +4.08% 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 swung lower again today.  The CBOE Volatility Index (VIX) closed at $13.71/share -2.14% or -$.30/share. The 2x leveraged ETF TVIX  closed at $9.87/share -2.76% or -$.28/share and traded between $9.86 and $10.32 today.

Economic Reports

We did not get any economic reports on Monday. However, on Tuesday, the existing home sales report confirmed that they had lowered by 2.2% m/m in September to a seasonally-adjusted annual rate of 5.38M while total sales jumped 3.9% compared to the same period last year. Wednesday brought forth the MBA Mortgage Applications Index report for the week ending October 19 and it decreased 11.9% while the FHFA Housing Price Index Report for August rose by .2%. Thursday saw that new home sales fell .7% month/month to a seasonally adjusted annual rate of 701k units & on Y/Y new home sales were increased by 15.5%. The durable goods orders report for September dropped by 1.1%. Also, excluding transportation, durable goods orders decreased .3%. Initial claims for the week ending October 19 fell by 6k to 212k while continuing claims for the week ending October 12th dropped by 1k to 1.682M.

Big Movers

Shares of Twitter (TWTR) tumbled -20.81% closing at $30.75/share as they missed Wall Street’s Q3 earnings and revenue expectations and guidance was short of expectations but average daily active users reached 145M beating expectations of 141M.

Shares of MKS Instruments (MKSI) flew up 15,69% closing at $109.49/share after beating Q3 expectations and pointing higher in the fourth. Andover-based MKSI is a global provider of technologies that enable processes and improve productivity.

Healthcare

The S&P 500 healthcare sector closed at 1062.953 -.60%. UnitedHealth Group (UNH) closed down -1.33% closing at $244.51/share after a Q3 earnings beat on 10/15/19, Walgreens Boots Alliance (WBA) closed at $54.45/share -.20% & Cigna (CI) lost 1.62% closing at $170.11/share.

INVO Bioscience, Inc. (IVOB) ended the day at $.3160/share up 11.9%. IVOB is a medical device company focused on creating alternative treatments for patients diagnosed with infertility and developers of INVOcell®, the world’s only in vivo Intravaginal Culture System. Today IVOB announced the receipt of a CE Mark for its INVOcell culture and retention device. The receipt of the CE Mark is the final requirement for INVO Bioscience to begin commercially distributing the revolutionary alternative to traditional IVF through the entire European Union. Steve Shum, CEO of INVO Bioscience, commented, “We are extremely pleased to receive this very important product certification, the CE Mark, which permits us to commercially distribute the world’s only in vivo fertilization treatment to the millions of patients throughout the countries of the EU. The European countries represent a large potential market for INVOcell, with an estimated $3 to $4 billion currently spent on IVF treatments. Importantly, INVOcell is a simple and more natural solution with the potential to expand the overall addressable market for treatment due to its ability to lower costs compared to IVF while also demonstrating comparable rates of effectiveness. We are currently in the middle of active discussions with several distribution partners around the world, including within the European market, and look forward to providing updates on our international efforts in the near future.”

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 in 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.

Today,

Biotech

The Ishares Nasdaq Biotechnology ETF (IBB) moved higher +.09% at $105.74 & the NYSE Arca Biotech Index (^BTK) closed at 4,363.55 +.09.

Johnson & Johnson (JNJ) closed at $127.50/share -1.85%, Merck & Co (MRK) closed at $82.58/share -.35%, Pfizer (PFE) closed at $36.39/share -1.03%

Atossa Genetics (ATOS) closed trading at $1.71/share on this 24th 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.

This week ATOS announced that Kyle Guse, CFO and General Counsel of Atossa Genetics will be a featured presenter at the 5th Annual Dawson James Small Cap Growth Conference on October 29, 2019, at 11:20 AM Eastern Time. The conference is being held at the Wyndham Grand Hotel in Jupiter, Florida.

Tech & Entertainment

Apple (AAPL) closed at $243.58/share +.16% as optimism continues to grow with regard to the new iPhone models and new streaming entertainment offering, Alphabet (GOOG) closed at $1260.99/share +.15%, Facebook (FB) closed at $186.38/share +.12% as news of its antitrust probe now includes 47 attorney generals surfaced recently, Microsoft (MSFT) closed at $139.94/share +1.97%, NVIDIA (NVDA) closed at $196.86/share +.91%. Bank of America/Merrill Lynch recently raised its NVDA price target to $250 from $225. IBM closed at $134.07/share -23% as it recently missed wall street Q3 expectations while Cisco Systems (CSCO) lost -1.36% finishing at $46.41/share. Goldman Sachs (GS) recently downgraded CSCO as it views that corporate spending on technology has weakened. Disney (DIS) closed at $130.26/share -.66% as it recently announced that it was teaming with Verizon (VZ) ($60.58 -.49%) and its new streaming service Disney+ will now be given to all new customers of Verizon for a year, and Netflix (NFLX) closed at $271.50/share +.08%. Amazon (AMZN) closed at $1,780.78/share +1.06%. Streaming device maker Roku (ROKU) closed at $131.22/share +1.91% 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. Intel (INTC) closed at $52.23 up .99% but is up 3.75% in the aftermarket after beating Q3 expectations.

After The Market

Intel (INTC) closed at $52.23 up .99% but is up 3.75% in the aftermarket after beating Q3 expectations. Visa (V) closed at $176.16/share up 2.63% and beat Q4 expectations.

Tomorrow

Verizon (VZ) reports earnings on 10/25/2019 before the market open.



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