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MARKETS LIVE BLOG:

STOCKS RISE AS DOW EYES EXTENDING 6-DAY WIN STREAK

U.S. jobless claims hit highest level since August 2023

Today's Research Reports on Trending Tickers: Peregrine Pharmaceuticals and Westport Fuel Systems

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / July 17, 2017 / U.S. markets continued to hit record highs Friday as the potential for a rate hike by the Federal Reserve dimmed on weak economic data. The Dow Jones Industrial Average increased 0.39 percent to close at 21,637.74, its third consecutive record close, while the S&P 500 Index rose 0.47 percent to close at a record 2,459.27. Financials were the only sector in the S&P 500 to decline on Friday. Analysts’ predict earnings for the S&P 500 Index to increase of 8.1 percent year-over-year, according to Thomson Reuters.

"I think this morning's economic data once again plays into the narrative that the Fed will be more dovish," said Ian Winer, head of the equities division at Wedbush Securities, in an interview, according to MarketWatch. "It further fuels the sentiment that there’s no alternative for stocks."

RDI Initiates Coverage on:

Peregrine Pharmaceuticals Inc.
https://ub.rdinvesting.com/news/?ticker=PPHM

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Westport Fuel Systems Inc.
https://ub.rdinvesting.com/news/?ticker=WPRT

Peregrine Pharmaceuticals Inc.'s stock moved 3.14% higher Friday, to close the day at $5.58. The stock recorded a trading volume of 1,032,707 shares, which was below its three months average volume of 1,185,910 shares. In the last year Peregrine Pharmaceuticals Inc.'s shares have traded in a range of 1.97 - 5.78. The share price has gained 182.67% from its 52 week low. The company's shares are currently trading above their 200-day moving average. Moreover, the stock's 50-day moving average of $0.57 is greater than its 200-day moving average of $0.51.

The company reported a loss of $0.16 a share on revenues of $17.9 million for the fourth quarter of fiscal 2017. Analysts’ expectations had called for a loss of $0.04 a share on revenues of $22.6 million for the fiscal fourth quarter. Shares of Peregrine Pharmaceuticals have gained approximately 158.48 percent year-to-date.

Access RDI's Peregrine Pharmaceuticals Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=PPHM

On Friday, shares in Westport Fuel Systems Inc. recorded a trading volume of 9,013,252 shares, which was above the three months average volume of 784,178 shares. The stock ended the day 15.46% lower at 1.64. The share price has gained 100.00% from its 52 week low with a 52 week trading range of 0.82 - 2.65.The company's shares are currently trading above their 200-day moving average. Moreover, the stock's 50-day moving average of $1.80 is greater than its 200-day moving average of $1.31.

The company expects revenues to be in the range of $57-$59 million for the second quarter ended June 30, 2017, and a cash balance of approximately $87 million at June 30, 2017. Adjusted EBITDA is forecasted to be positive in early 2018. Shares of Westport Fuel Systems have gained approximately 45.13 percent year-to-date.

Access RDI's Westport Fuel Systems Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=WPRT

Our Actionable Research on Peregrine Pharmaceuticals Inc. (NASDAQ: PPHM) and Westport Fuel Systems Inc. (NASDAQ: WPRT) can be downloaded free of charge at Research Driven Investing.

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RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer or a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com