“Strong” – Vista Partners Daily Market Recap 5/3/2019
U.S. equities did well on Friday, buoyed up by a strong jobs report for April. While analysts had expected the unemployment rate for April to hold steady at 3.8%, it actually decreased to 3.6% as 263,000 jobs were added. The increase in payrolls brought unemployment to the lowest level it’s been at in 49-years. It also helped to boost investor’s confidence in the U.S. labor market and the U.S. economy in general. The Nasdaq started the day with gains and held onto them throughout the session, increasing 1.58% (127.22 points) by the time the market closed. The S&P 500 also rose today, seeing gains of 0.96% (197.16 points). The Dow stayed fairly constant throughout much of the day on Friday, rising 0.75% (197.16 points) during the session. Nearly all of the Dow Jones companies saw gains today. After dealing with losses yesterday, Caterpillar (CAT) rose 2.88% on the session. Intel (INTC) was the second highest riser with an increase of 2.37%. Not too far behind that was Microsoft (MSFT), as it climbed 2.13%. Shares of Seattle-based biotech firm Atossa Genetics (ATOS) also rose today. It closed out the week with gains of 2.38%, putting it at $3.00 per share. Cybersecurity firm Finjan (FNJN) closed trading up again +.32% at $3.13/share after hitting an intraday high of $3.1769/share. Recently, FNJN announced that on April 30, 2019, its subsidiary Finjan, Inc. entered into a patent license and settlement agreement with Zscaler, Inc. (“Agreement”). The Agreement resolved the parties’ disputes, grants Zscaler a fully paid-up license to Finjan, Inc.’s patent portfolio, mutual covenants not to sue and mutual releases, among other terms which are confidential. Finjan will host a shareholder update call on Monday, May 8 at 1:30 pm Pacific. Those interested should call 1-800-895-3361 (domestic) and 1-785-424-1062 (international.)San Diego-based biotech firm Fate Therapeutics (FATE) closed trading today at $17.15/share up 2.51%. They will host their First Quarter 2019 Financial Results conference call on Tuesday, May 7th at 2 pm Pacific. To participate please dial 1-877-303-6235 (domestic) & 631-291-4837 (international) and refer to the conference ID 6444079.
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!