Market Movers, August.20

7:22am, Dow futures down 27 points, volume 28,926. They were flat about 30 minutes ago. Market feels very strange…Empty is the best word

Reuters front page archived https://web.archive.org/web/20190820113502/https://www.reuters.com/

“China cries foul over Facebook, Twitter block of fake accounts”, Reuters

“U.S. Steel plans to lay off hundreds of workers in Michigan”, Reuters

“Huawei calls US move to blacklist more affiliates ‘unjust’ and ‘politically motivated” CNBC

7:43am, IBIO up 164% on 1,156,272 shares after reporting:

” iBio, Inc. (NYSE AMERICAN:IBIO) today announced that it has entered into a Master Services Agreement (“MSA”) with Lung Biotechnology PBC, a subsidiary of United Therapeutics Corporation (NASDAQ:UTHR), to produce recombinant human collagen (“rhCollagen”)-based bioink for 3D bioprinted organ transplants. iBio will collaborate with Lung Biotechnology PBC to scale-up production of rhCollagen in tobacco plants using iBio’s FastPharming™ System”. Read more

Dart Kenneth Bryan ownership as per most recently filed 13-d

7:47am, NBRV is up 26% on 728,169 shares after FDA approval for XENLETATM (lefamulin) for the treatment of community-acquired bacterial pneumonia in adults. Read more

Great article from Bloomberg “Inverted Yield Curve: Is It Time to Worry Yet?”

“Baidu (BIDU) Earnings and Revenues Beat Estimates in Q2”, Yahoo reports
Up 9.26% on 107,224 shares as of 7:54am

8:00am, Sea Limited is down 11.9% on 617,308 shares after missing analyst estimates by $0.96

8:07am, Sarepta Therapeutics Inc is down 17% on 345,879 shares after the FDA raised concerns about their golodirsen injection trials for the treatment of Duchenne muscular dystrophy.

IQIYI Inc is down 7% on 260,033 shares after getting downgraded from Buy to Hold by China Renaissance, thefly.com reports

8:14am, Kohl’s is up 4% on 361,181 shares after reporting quarterly earnings. Click on the image for the full report

8:19am, VVUS is up 20% on 311,400 shares

8:21am, Seadrill is up 18% on 113,191 shares after announcing quarterly results

Hilton Grand Vacations is up 12% on 400,905 shares after a source indicated that Apollo is considering purchasing the company for $36 per share. Seekingalpha reports

8:28am, BYND is up 6.9% on 190,843 shares after JMP upgrades their forecasts to overweight from neutral. Read more at Seekingalpha

10:21am, SOLY is up 17% on 1,004,642 shares after announcing positive results demonstrated from longer RAP treatment. Link

10:27am, Cheetah Mobile Inc is up 19% on 1,688,923 shares after announcing a special cash dividend of US$0.50 per American Depositary Share (“ADS”), or US$0.05 per ordinary share. Read more

Tencent

10:33am, Dow down 81 points, volume 45,107,269

“Endo Announces Settlement in Principle to Resolve “Track 1″ Opioid Cases”, PR Newswire. Up 25% on 9,062,792 shares at 10:37am. Read more

Cemtrex Inc is up 71% on 11,053,728 shares after reporting 3rd quarter operating results

“FDIC approves tweak of Volcker Rule, easing trading regulations for Wall Street banks”, CNBC

11:08am, “Dow turns positive, erases 116-point loss as Home Depot shares gain”CNBC

12:50pm, Dow turns red again, down 45 points on 101,738,324 shares

Another weird day…

4:59pm, Dow down 173 points, volume 238,102,064

Mike Pompeo tells business execs, economists that he thinks the China trade war could end by 2020 election, CNBC

Stay tuned for updates!

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