Champions Oncology Announces Agreement With Weill Cornell Medicine

Shares of Champions Oncology, Inc. rose sharply in today's pre-market trading reported better-than-expected financial results for the first quarter on Wednesday.

The company reported quarterly earnings of 11 cents per share which beat the analyst consensus estimate of a loss of $0.3 per share.

Champions Oncology shares jumped 13.5% to $4.55 in the pre-market trading.

Here are some other stocks moving in pre-market trading.

Gainers

• Smart for Life, Inc. gained 89.4% to $1.61 in pre-market trading. HRT Financial LP acquired a new stake in Smart for Life.
• Protagenic Therapeutics, Inc. rose 58% to $1.58 in today's pre-market trading.
• N2OFF, Inc. gained 42.4% to $0.4273 in the pre-market trading session after the company announced a potential 10% increase in capacity for its Solar PV Joint Venture Project with Solterra Renewable Energy.
• NETGEAR, Inc. shares gained 27.8% to $20.37 in pre-market trading after the company disclosed a settlement agreement with TP-Link Systems and raised its third-quarter revenue guidance.
• Perfect Moment Ltd. gained 18.6% to $1.15 in pre-market trading after declining around 8% on Wednesday.
• Signing Day Sports, Inc. gained 14.4% to $0.1419 in pre-market trading.
• Pineapple Energy Inc. rose 13.8% to $0.1983 in pre-market trading after dipping 14% on Wednesday. Pineapple Energy recently entered into exchange agreements to swap Series A preferred stock and warrants for Series C preferred stock, convertible at $0.45 per share.
• ImmunityBio, Inc. rose 8.7% to $3.94 in pre-market trading. ImmunityBio recently presented long-term overall survival data in non-small cell lung cancer patients and announced registrational intent Phase 3 trials with ANKTIVA and checkpoint immunotherapy at the World Conference on Lung Cancer.
• Applied Therapeutics Inc gained 5% to $5.47 in pre-market trading.

Losers

• Ryde Group Ltd. fell 61.7% to $5.02 in pre-market trading after dipping more than 35% on Wednesday.
• Syra Health Corp. fell 48.4% to $0.4128 in pre-market trading. Syra Health priced its $2.1 million public offering with shares and warrants priced at $0.64 each.
• Telesis Bio, Inc. shares dipped 40% to $1.02 in pre-market trading. Telesis Bio shares dipped 55% on Wednesday after the company announced that it has notified the Nasdaq Stock Market of its decision to delist.
• CN Energy Group. Inc. shares fell 25.9% to $1.03 in pre-market trading. CN Energy Group received Nasdaq notice that it is currently not in compliance with certain requirements under relevant listing rules.
• SMX (Security Matters) Public Limited Company shares declined 17.7% to $2.59 in pre-market trading after the company announced a $5.35 million private placement.
• FTC Solar, Inc. shares fell 16.4% to $0.3841 in pre-market trading. FTC Solar shares jumped 104% on Wednesday after the company announced that it has been selected by Strata Clean Energy to supply approximately 500 megawatts of its Voyager 2P solar tracker technology for multiple project sites in the U.S. and will be the preferred 2P solar tracker supplier over a three-year initial term.
• iSpecimen Inc fell 14.5% to $0.21 in today's pre-market trading after the company announced a 1-for-20 reverse stock split.
• Oxford Industries, Inc. shares declined 10.3% to $75.02 in pre-market trading after the company reported weaker-than-expected earnings and sales results for the second quarter. The company said it sees FY24 net sales of $1.51 billion to $1.54 billion and adjusted earnings of $7 to $7.30 per share.
• Cadrenal Therapeutics, Inc. C shares fell 8.6% to $7.73 in pre-market trading after jumping around 18% on Wednesday.
• BeiGene, Ltd. declined 6.8% to $196.80 in pre-market trading after gaining around 7% on Wednesday.

Now Read This:

• Jim Cramer: ‘Not The Time To Own Oil,’ When Asked About Exxon Mobil; Says IBM Is ‘Performing Well’

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

September S&P 500 E-Mini futures (ESU24) are up +0.24%, and September Nasdaq 100 E-Mini futures are up +0.27% this morning as investors braced for crucial U.S. producer inflation data while also awaiting the European Central Bank’s interest rate decision.

In yesterday’s trading session, Wall Street’s major indices closed in the green. Solar stocks soared after Wall Street largely declared Vice President Kamala Harris, who is viewed as a supporter of the energy transition, the winner of Tuesday night’s debate with former President Donald Trump, with First Solar surging over +15% to lead gainers in the S&P 500 and Enphase Energy rising more than +5%. Also, chip stocks gained ground, with Arm climbing over +10% to lead gainers in the Nasdaq 100 and Nvidia advancing more than +8%. In addition, Albemarle gained over +13% after a Reuters report indicated that Chinese battery producer CATL plans to cut lithium production levels. On the bearish side, GameStop tumbled about -12% after the videogame retailer reported weaker-than-expected Q2 revenue.

The U.S. Bureau of Labor Statistics report released on Wednesday showed that consumer prices increased +0.2% m/m in August, in line with expectations. On an annual basis, headline inflation cooled to +2.5% in August from +2.9% in July, in line with expectations and the smallest increase in 3-1/2 years. At the same time, the core CPI, which excludes volatile food and fuel prices, advanced +0.3% m/m and +3.2% y/y in August, compared to expectations of +0.2% m/m and +3.2% y/y.

“This isn’t the CPI report the market wanted to see,” said Seema Shah at Principal Asset Management. “The number is certainly not an obstacle to policy action next week, but the hawks on the committee will likely seize on [the August] CPI report as evidence that the last mile of inflation needs to be handled with care and caution.”

Meanwhile, U.S. rate futures have priced in an 87.0% probability of a 25 basis point rate cut and a 13.0% chance of a 50 basis point rate cut at the upcoming monetary policy meeting.

Today, all eyes are focused on the U.S. Producer Price Index, set to be released in a couple of hours. Economists, on average, forecast that the U.S. August PPI will come in at +0.1% m/m and +1.8% y/y, compared to the previous figures of +0.1% m/m and +2.2% y/y.

The U.S. Core PPI will also be closely watched today. Economists expect August figures to be +0.2% m/m and +2.5% y/y, compared to the previous numbers of 0.0% m/m and +2.4% y/y.

U.S. Initial Jobless Claims data will be reported today as well. Economists predict this figure will hold steady at 227K, consistent with last week’s number.

On the earnings front, Photoshop maker Adobe is scheduled to report its Q3 earnings results today.

In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 3.676%, up +0.69%.

The Euro Stoxx 50 futures are up +1.15% this morning, fueled by a global tech rally, while investors awaited the European Central Bank’s latest monetary policy decision. Technology and mining stocks led the gains on Thursday. Data from the National Statistics Institute released Thursday showed that Spain’s annual inflation rate stood at 2.3% in August, down from 2.8% in July and slightly above the preliminary estimate of 2.2%. Meanwhile, the ECB is widely anticipated to lower the deposit rate by 25 basis points to 3.50% later today, marking the second reduction this year, while market participants will seek hints on whether additional cuts in October and December remain on the table. In corporate news, Roche Holding Ag slid about -4% after the drugmaker revealed that the promising results of an early-stage trial for its experimental weight-loss pill were based on data from only six patients.

Germany’s WPI and Spain’s CPI data were released today.

The German August WPI arrived at -0.8% m/m, weaker than expectations of +0.1% m/m.

The Spanish August CPI came in at 0.0% m/m and +2.3% y/y, compared to expectations of 0.0% m/m and +2.2% y/y.

Asian stock markets today closed mixed. China’s Shanghai Composite Index (SHCOMP) closed down -0.17% and Japan’s Nikkei 225 Stock Index (NIK) closed up +3.41%.

China’s Shanghai Composite Index ended lower today, giving up early gains as weak sentiment in the country continued to weigh on the market. Liquor and telecom stocks led the declines on Thursday. The most recent set of economic data from China showed no clear signs of recovery, while authorities refrained from signaling market support through stronger policy measures. Geopolitical risks and trade tensions with other major economies further contributed to the bearish sentiment. Meanwhile, Bloomberg News reported on Thursday that China is set to reduce interest rates on over $5 trillion in outstanding mortgages as soon as this month. In other news, HSBC analysts believe that further monetary easing could be forthcoming, citing continued weakness in China’s domestic demand. In corporate news, Shanghai Guijiu plunged -10% after the liquor maker’s chairman and general manager, Han Xiao, was charged with alleged involvement in the illegal fundraising activities of Haiyin Wealth Management. Investors are now focusing on Chinese retail sales and industrial production data, set for release later this week.

Japan’s Nikkei 225 Stock Index closed sharply higher today, snapping a seven-day losing streak as the U.S. inflation reading drove the yen down from its highest level against the dollar since December. Technology and materials stocks led the gains on Thursday. The Bank of Japan reported Thursday that annual producer prices in Japan rose less than expected in August, marking the lowest level since April. Separately, the Cabinet Office reported that the business survey index for large manufacturers in Japan surged in the third quarter, showing positive growth for the first time in three quarters. Meanwhile, BOJ policy board member Naoki Tamura helped the yen recover from session lows with remarks about raising the BOJ benchmark rate to at least 1% by the end of its projection period. In other news, data from the Ministry of Finance revealed that overseas investors sold off a net 902.3 billion yen ($6.33 billion) of Japanese stocks in the week ending September 7th, marking the largest weekly foreign outflow in nearly six months. In corporate news, Seven & I Holdings gained over +4% after Bloomberg News reported that Canada’s Alimentation Couche-Tard was considering improving its takeover bid for the Japanese convenience store operator. The Nikkei Volatility, which takes into account the implied volatility of Nikkei 225 options, closed down -5.65% to 26.73.

The Japanese August PPI came in at -0.2% m/m and +2.5% y/y, weaker than expectations of 0.0% m/m and +2.8% y/y.

The BSI Large Manufacturing Conditions Index stood at +4.5 in the third quarter, stronger than expectations of -2.5.

Pre-Market U.S. Stock Movers

Oxford Industries plunged over -10% in pre-market trading after the clothing retailer posted downbeat Q2 results, issued below-consensus Q3 guidance, and cut its FY24 forecast.

Champions Oncology surged more than +15% in pre-market trading after the company reported better-than-expected Q1 results.

Today’s U.S. Earnings Spotlight: Thursday - September 12th

Adobe (ADBE), Kroger (KR), RH (RH), Signet Jewelers (SIG), Caleres (CAL), Lovesac (LOVE), MYT Netherlands (MYTE), Radiant (RLGT), IBEX (IBEX), Innate Pharma (IPHA), Farmer Bros. Co (FARM).

On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.

With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows:

• Wall Street expects The Kroger Co. to report quarterly earnings at $0.91 per share on revenue of $34.09 billion before the opening bell, according to data from Benzinga Pro. Kroger shares rose 0.3% to $51.65 in after-hours trading.
• Oxford Industries, Inc. reported weaker-than-expected earnings and sales results for the second quarter. The company said it sees FY24 net sales of $1.51 billion to $1.54 billion and adjusted earnings of $7 to $7.30 per share. Oxford Industries shares dipped 10.4% to $74.95 in the after-hours trading session.
• Analysts are expecting Signet Jewelers Limited to post quarterly earnings at $1.14 per share on revenue of $1.50 billion. The company will release earnings before the markets open. Signet shares fell 0.1% to $78.00 in after-hours trading.

Check out our premarket coverage here

• Champions Oncology reported better-than-expected financial results for the first quarter on Wednesday. The company reported quarterly earnings of 11 cents per share which beat the analyst consensus estimate of a loss of $0.3 per share. Champions Oncology shares jumped 30% to $5.2899 in the after-hours trading session.
• Analysts expect Adobe Inc. to report quarterly earnings at $4.53 per share on revenue of $5.37 billion after the closing bell. Adobe shares rose 0.2% to $581.50 in after-hours trading.

Check This Out:

• Jim Cramer: ‘Not The Time To Own Oil,’ When Asked About Exxon Mobil; Says IBM Is ‘Performing Well’

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.