Focus Universal Inc: Announces Listing Transfer To Nasdaq Capital Market

Although U.S. stocks closed higher on Thursday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform.

Middlefield Banc

• The Trade: Middlefield Banc Corp. CEO Ronald Len. Zimmerly Jr acquired a total of 1,000 shares at an average price of $22.47. To acquire these shares, it cost around $22,470.
• What's Happening: On July 18, Middlefield Banc reported quarterly earnings of 52 cents per share which beat the analyst consensus estimate of 40 cents per share.
• What Middlefield Banc Does: Middlefield Banc Corp is a United States-based bank holding company.

Focus Universal

• The Trade: Focus Universal Inc. Director Edward Shihai Lee acquired a total of 1,000,000 shares at an average price of $0.30. To acquire these shares, it cost around $300,000.
• What's Happening: On Sept. 16, Focus Universal announced a $1.2 million registered direct offering of 3.75 million shares at $0.32 per share.
• What Focus Universal Does: Focus Universal Inc develops and manufactures universal smart devices.

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U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining around 0.2% on Friday.

The Dow traded down 0.11% to 41,291.08 while the NASDAQ rose 0.28% to 17,565.84. The S&P 500 also rose, gaining, 0.20% to 5,603.06.

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Leading and Lagging Sectors

Consumer discretionary shares climbed by 0.9% on Thursday.

In trading on Thursday, energy shares fell by 0.5%.

Top Headline

The total number of active U.S. oil rigs came in unchanged at 483 rigs this week, Baker Hughes Inc reported.

Equities Trading UP

• Brenmiller Energy Ltd shares shot up 166% to $1.79 after the company reported a year-over-year increase in H1 EPS results. Also, the company announced a projected pipeline valued up to $500 million.
• Shares of Focus Universal Inc. got a boost, surging 61% to $0.3067 after the company in a Form4 filing disclosed that CEO Desheng Wang bought 302,100 shares of stock at an average price of $0.18 per share.
• MongoDB, Inc. shares were also up, gaining 17% to $286.58 after the company reported better-than-expected second-quarter financial results and issued strong guidance on Thursday.

Equities Trading DOWN

• Paltalk, Inc. shares dropped 37% to $3.4501 after the company was awarded $65.7 million in District Court verdict against Cisco, which remains subject to post-trial proceedings.
• Shares of Catheter Precision, Inc. were down 54% to $0.6250 after the company announced the pricing of $3.1 million underwritten public offering.
• Elastic N.V. was down, falling 27% to $75.28 after the company reported first-quarter financial results and issued second-quarter revenue guidance below estimates.

Commodities

In commodity news, oil traded down 2.9% to $73.74 while gold traded down 1.1% at $2,532.10.

Silver traded down 2.6% to $29.21 on Friday, while copper fell 0.1% to $4.2165.

Euro zone

European shares closed mixed today. The eurozone's STOXX 600 gained 0.09%, Germany's DAX fell 0.03% and France's CAC 40 fell 0.13%. Spain's IBEX 35 Index rose 0.38%, while London's FTSE 100 fell 0.04%.

The unemployment rate in the Eurozone eased to its record low of 6.4% in July from 6.5% in the previous month, while annual inflation rate declined to 2.2% in August from 2.6% in the prior month.

Asia Pacific Markets

Asian markets closed higher on Friday, with Japan's Nikkei 225 gaining 0.74%, Hong Kong's Hang Seng Index gaining 1.14%, China's Shanghai Composite Index gaining 0.68% and India's BSE Sensex rising 0.28%.

The Indian economy grew by 6.7% from the prior year in the June quarter compared to a 7.8% increase in the prior period. Retail sales in Hong Kong declined 13.3% year-over-year in July.

Economics

• U.S. personal income increased by 0.3% from the prior month to $24.015 trillion in July, while personal spending rose 0.5% from the prior month.
• The US core PCE price index increased by 0.2% from the earlier month in July, in line with market estimates and following a 0.2% rise in June.
• The University of Michigan consumer sentiment was revised higher to 67.9 in August versus a preliminary level of 67.8.
• The Chicago PMI climbed to 46.1 in August from 45.3 in the previous month and beating market expectations of 45.5.
• The total number of active U.S. oil rigs came in unchanged at 483 rigs this week, Baker Hughes Inc reported.

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