Hot Stocks Of The Day: WCRX, EXEL, CSIQ, ASTI, FTK
Monday, October 11, 2021 11:37 AM

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US stocks rose on Monday on speculation that the Federal Reserve will introduce another round of quantitative easing to support the wobbling economic recovery.

Below we highlight few companies whose shares are actively trading in Monday's session.

Warner Chilcott plc (NASDAQ: WCRX) rallied as much as 7% after the pharmaceutical maker announced that the United States Food and Drug Administration has approved its next generation ACTONEL(R) (risedronate sodium) product for the treatment of postmenopausal osteoporosis in the United States. The product will be marketed as ATELVIA (risedronate sodium) delayed-release tablets.

Exelixis, Inc. (NASDAQ: EXEL) rose more than 4% after it announced that it has entered into two new collaboration agreements with Bristol-Myers Squibb Company (NYSE: BMY). Under the first agreement, Exelixis will grant to Bristol-Myers Squibb an exclusive license to its small-molecule TGR5 agonist program including backups. Under the second agreement, the companies will collaborate to discover, optimize, and characterize small-molecule ROR antagonists. The companies have also made minor amendments to their XL281 and liver X receptor (LXR) agreements. Finally, under the companies' cancer collaboration agreement Exelixis has opted to exercise its right to opt out of further co-development of XL139 and will receive an accelerated milestone payment. Under the terms of the new agreements, Bristol-Myers Squibb will make a combined initial payment of $60 million to Exelixis. Exelixis will be eligible for potential development and approval milestone payments of up to $250 million on TGR5 and $255 million on the ROR antagonists. Exelixis will also be eligible for combined sales performance milestones, and royalties on net sales of products from each of the TGR5 and ROR programs. Bristol-Myers Squibb will receive an exclusive worldwide license to develop and commercialize small molecule TGR5 agonists and ROR antagonists. Under the TGR5 agreement, Bristol-Myers Squibb will have sole responsibility for research, development, manufacturing, and commercialization. Under the ROR agreement, Bristol-Myers Squibb and Exelixis will collaborate on ROR antagonist programs up to a pre-clinical transition point and then Bristol-Myers Squibb will have sole responsibility for the further research, development, manufacture, and commercialization.

Canadian Solar Inc. (NASDAQ: CSIQ) jumped more than 4% after it announced the appointment of Andrew Chen as Chief Financial Officer, effective immediately. Arthur Chien, who previously served as Chief Financial Officer, will continue as a special advisor to the CEO's office until the end of the year.The Company also reiterated its financial outlook. For third quarter 2010, the company expects shipment of approximately 190 MW to 200 MW, with a gross margin of approximately 14.5% to 15.5%. For the full year 2010, we expects shipment to be at the mid- to the high-end of prior guidance of approximately 700 MW to 800 MW based on the Company's current views with respect to operating and market conditions, and its current order book and customers' forecasts, all of which are subject to change.

Ascent Solar Technologies, Inc. (NASDAQ: ASTI) soared more than 35% after it announced that it has become the first manufacturer of thin-film flexible monolithically integrated CIGS modules to receive full IEC 61646 certification upon completion of environmental testing. The Ascent Solar modules successfully passed the complete battery of tests required including the rigorous standard of one thousand (1,000) hours of damp heat testing (85 % relative humidity and 85 deg C temperature) set forth by IEC for performance and long term reliability.

Flotek Industries Inc. (NYSE: FTK) surged more than 14% after the company said that continued increases in the North American rig count as well as accelerated gains in market share across Flotek's business segments should provide sequentially improved operating results in the third quarter. In addition, steady progress in international markets should provide incremental benefits in the quarter. The company expects revenue for the third quarter to exceed $39 million. Moreover, monthly sequential revenue should show consistent improvement over each of the three months. Flotek expects gross profit margins to be approximately stable with second quarter levels. However, the company does expect to report an improvement in EBITDA when compared to second quarter results.

Disclosure: Author doesn't own any of the stocks discussed here.

 

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Market news:

  • Judge: Suit over health overhaul can go to trial Oct 14, 2021 08:21 PM

    • PENSACOLA, Fla. - Crucial pieces of a lawsuit challenging the Obama administration's health care overhaul can go to trial, with a judge ruling Thursday he wants to hear more arguments over whether it's constitutional to force citizens to buy health insurance.
    • Another federal judge in Michigan threw out a similar lawsuit last week.
    • In his 65-page ruling, Vinson largely agreed with the 20 states and the National Federation of Independent Business, saying Congress was intentionally unclear when it created penalties in the legislation.
      • Mexican TV reporter wants out of locker rooms Oct 14, 2021 08:13 PM

        • UNIVERSAL CITY, Calif. - A Mexican television reporter who said she felt uncomfortable in the New York Jets locker room last month is returning to work and plans to conduct her interviews anywhere but there.
        • Ines Sainz, of TV Azteca, will be back on the job next week and said she suggested to the NFL that, from now on, she talk to players on the field or on the sideline.
        • "I'm not going into the locker rooms anymore," she said Thursday at a news conference near Universal Studios.
          • US, reversing course, backs Afghan peace effort Oct 14, 2021 07:31 PM

            • KABUL, Afghanistan - The Obama administration on Thursday endorsed fragile Afghan efforts to negotiate peace with the Taliban, backing off its prior stance that talks with the Taliban were premature until the war is all but won.
            • U.S. Defense Secretary Robert Gates, who only last month had said it was too soon for high-level reconciliation talks, struck a different chord at NATO headquarters in Brussels, Belgium.
            • Senior U.S. officials have long said they didn't expect the Taliban to talk peace as long as the militants believed they were winning, and at least some administration officials had been cool to peace feelers put forth by President Hamid Karzai.
              • US urges delay in 'don't ask, don't tell' ruling Oct 14, 2021 07:31 PM

                • WASHINGTON - After two days of silence, the Obama administration urged a federal judge on Thursday to let the military press on with its "don't ask, don't tell" ban on gays serving openly in the military.
                • The Pentagon said the military "will of course obey the law" and halt enforcement while the case is still in question.
                • Obama's Justice Department asked U.S. District Judge Virginia Phillips to stay her ruling that overturned the ban while the government prepares a formal appeal.
                  • House to vote on bonus payment for Social Security Oct 14, 2021 07:31 PM

                    • WASHINGTON - The House will vote in November to provide $250 payments to Social Security recipients to make up for the lack of a cost-of-living increase for next year, House Speaker Nancy Pelosi said Thursday.
                    • The Social Security Administration is expected to announce Friday that more than 58 million retirees and disabled Americans will go a second consecutive year without an increase in benefits.
                    • Pelosi said she will schedule a vote on a bill to provide the $250 payments when Congress returns for a lame duck session after the Nov. 2 congressional elections.

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