Lexicon Pharmaceuticals Inc
1.31 - 3.48
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Top Earnings Tu 8/2 Aft: $FPH $FRSH $FSP $GHL $GILD $GLRE $GPOR $GXO $HLF $HRZN $HVT $HY $INN $INSP $JJSF $KAI $KAR $KN $KRG $LFUS $LPLA $LTHM $LUNG $LXRX $MCHP $MCY $MDXG $MEC $MGY $MKL $MRCC $MRCY $MSTR $MTCH $NEU $NGVT $NMIH $NR $NRC $NYMT $OI $OSH $OSPN $OXY $PAYC (2/3)
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IU Watchlist: Main Watches: $CEI had one failed follow through set up but never breached VWAP - the slow steady grind with re checks of prior support levels numerous times can last a long time. The volume is picking back up so this has become less of a social medial hype and at this point shorts letting shorts out letting shorts out letting shorts out creating lots of volume kicking the can down the road while the float is held tightly. We are nearing the speed up move. Ideally we get some sorta $3 gap $3.50-4 parabolic like SNDL way back when. Pretty impressive so far. $MMAT has a vote tomorrow not sure what time but I'll check in the morning -- but may be a trade surrounding that. Failed Follow Through: $MRIN higher better and fails $RCAT faded AHs but ideally pushes back up on $3.50+ then failed follow through $DATS keeps getting saved but it offered some nice trades today. If you are looking for the unwind trade don't bother. Trade trend or leave it alone. At some point CEI DATS etc will have a reset day but that's not to anticipate -- that's for after trends break. $ATUS morning shove 945-10AM + looking to fade maybe sub 18s Continuation: Been spreading IRA out a lot lately - had some fire sales and then re joined bunch of names but likely have another fire sale soon. Lots of swings working but also don't want to get sloppy just throwing $$ at names. The BBIG trade this AM worked out well from continuation idea on Friday but throwing it too fast at subpar trades easy to give back $ quick. Lots in the LCID basket XL RMO VLDR FSR LAZR etc all worked well - that event is tomorrow so could be volatility in the space. TSLA insane SOLO etc. $MDIA letting some work until it doesn't - nice grind today didn't trust much size since no vol. $JSPR if I didn't sell some into the break out on Friday I'd be down about .50-.70/share or so on this trade I was up about $3/share going into weekend but it came back in today - still sorta part of the plan tho, not the volume today liquidity trap etc. I did sell some into power on Friday and my goal is only weakness only flushes if this starts to hold oddly well again or get a PR it's set up perfect for what we've seen lately. So, we'll see. One thing is for sure - if you chased it for whatever reason make sure your risk is in check and don't do anything silly as my plan was accumulation on weakness when no one wants it -- not into power or strength. $NAKD big one -- I prob sold too much worked pretty perfect sold a bit more over .90s and have a bit left. Prob won't last too much longer unless we get a reset day and it stays firm after that. Nice job all. $LICY just letting it work until fails Barron's helping this along. $HUSA so far so good $LXRX like this chart - no position. $MOXC started in some long today had some calls worth eyeing. $SNMP finally over that $1.20 worthy eye at this point - added some today. $ACHV trimmed some today from last weeks snag. $EBET joined trend today maybe gets a circuit style move in coming days reminds me of EEIQ $LPTX started in from the Sunday night game plan $3.4x's and some adds.
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Monday, August 9, 2021 Futures Up/Down % Last Dow -110.00 0.32% 34,979 S&P 500 -8.25 0.19% 4,421 Nasdaq 10.50 0.07% 15,106 Stock futures traded mostly lower Monday as investors increased bets the Federal Reserve would pull back on stimulus following a stronger-than-expected U.S. jobs report last week. Stocks closed higher on Friday, adding to its string of weekly advances as the S&P 500 index hits its 44th record high after a strong monthly jobs report fuels a further rotation into riskier assets. The U.S. economy added 943,000 jobs in July as hiring surged and employers raised wages to lure workers. It marked the second straight month of impressive growth. For the week, unofficially, the S&P rose 0.94%, the Dow added 0.78%, and the Nasdaq gained 1.11%. U.S. Treasury yields rose Friday after the jobs report, rising 8.7 bps at 1.3036%, its highest of the day, as equity indexes closed at record highs (back down at 1.28%). The financial sector saw its biggest daily percentage gain since July 20, while materials scored their best day in nearly a month as consumer discretionary stocks lagged. In Asian markets, The Nikkei Index gained 91 points to 27,820, the Shanghai Index rises 36 points (over 1%) to 3,494, the Hang Seng Index jumps 104 points to 26,283. In Europe, the German DAX is down -30 points to 15,730, while the FTSE 100 is down about -25 points, dipping just below 7,100. Bitcoin prices are higher by over 5% to $45,000 while Ethereum prices extend last week gains, also up over 5% topping $3,000. Oil prices looking lower again as WTI Crude slips 3.75% or over $2.50 to $65.70 (lowest levels since June) as worries about the COVID Delta variant’s impact on global growth increase. Goldman Sachs cut its forecast for China Q3 and full-year GDP, but does expect the government to bring the outbreak under control in about a month. Also, China’s crude imports slipped to the lowest since May last month after operations were halted at key ports on the east coast due to a typhoon. The nation imported 41.24 metric tons of crude in July, according to data. Gold prices slide $22 or over 1$ at $1,742.00 an ounce – but well-off overnight lows after plunging just below $1,700 an ounce Market Closing Prices Yesterday The S&P 500 Index gained 7.42 points, or 0.17%, to 4,436.52 The Dow Jones Industrial Average rose 144.26 points, or 0.41%, to 35,208.51 The Nasdaq Composite declined -59.36 points, or 0.40%, to 14,835.76 The Russell 2000 Index advanced 11.75 points, or 0.53% to 2,247.76 Events Calendar for Today 10:00 AM EST JOLTs Job Openings for June Earnings Calendar: Earnings Before the Open: AGEN, AMRX, APD, AVYA, AXSM, BALY, BFLY, BHV, CEVA, CRNC, DISH, DRNA, DS, EBIX, ELAN, ENR, EPZM, HE, III, ITCI, JOUT, KOS, LINC, MPAA, RDNT, SCPL, SGMS, SNDX, TGNA, TSN, TTD, USFD, VTRS, WHF, WKHS Earnings After the Close: ACM, ADMS, AMC, APEI, APPF, APPS, ASUR, AVD, BCEI, BRP, CABO, CARA, CBT, CCXI, CF, CMBM, CMP, CSTL, CXW, DDD, DOOR, ELY, ETH, EVBG, FGEN, FSK, FTK, GBDC, GOOD, HALO, IIIV, IIN, INO, IPAR, LOTZ, MESA, MODN, MYO, NCMI, NHI, OMER, OSH, OUST, PEN, PLNT, PRPL, QLYS, REAL, REI, RETA, RPAY, SAIL, SENS, SNCR, STE, SWAV, TALK, TPTX, VUZI, WES, ZIOP Other Key Events: BTIG Biotechnology Conference 2021 (virtual), 8/9-8/10 Cowen Annual Communications Infrastructure Hybrid Summit, 8/9-8/12 Cowen 9th Annual Internet & Media Bus Tour (virtual), 8/9-8/13 KeyBanc Capital Markets Technology Leadership Virtual Forum, 8/9-8/12 Needham 10th Annual Industrial Technologies 1:1 Conference (virtual), 8/6-8/9 Macro Up/Down Last Nymex -2.60 65.68 Brent -2.53 68.17 Gold -22.00 1,741.00 EUR/USD -0.0006 1.1756 JPY/USD -0.08 110.17 10-Year Note -0.008 1.28% World News China’s export growth slowed in July, adding to concerns the economy’s recovery will face fresh pressure in the second half of the year. Exports grew 19.3% in dollar terms in July from a year earlier, while imports rose 28.1%, the customs administration said Saturday. That left a trade surplus of $56.58 billion for the month. Sector News Breakdown Consumer Sanderson Farms ($SAFM) is said close to a deal to sell itself to Cargill and Continental Grain for about $4.5B. The deal, which could be announced as soon as tomorrow, is expected to value Sanderson Farms (SAFM) at $203 per share – WSJ https://on.wsj.com/3yAS4dD Philip Morris ($PM) has raised its bid for British drugmaker Vectura ($VEGPF) to 165 pence, or $2.29, per share, according to Reuters, citing the tobacco company. Tesla ($TSLA) upgraded to Buy from Hold at Jefferies and up tgt to $850 from $700 as sees higher global battery electric demand, more battery and assembly capacity coming on stream, a broader and mix-accretive model line-up with more Model Ys and the new S and no legacy issues to contend with Conagra Brands ($CAG) files automatic mixed securities shelf Spectrum Brands Holdings ($SPB) mentioned positively in Barron’s, calling it an undervalued stock that lets investors bet on multiple Covid-era trends at once. It has the defensive characteristics of a consumer- staples brand and its debt problems appear to be easing. Ross Stores ($ROST) and WW Int’l ($WW) will benefit from shoppers buying new wardrobes and getting back in shape for a return to the office according to Barron’s. Starbucks ($SBUX) and Ruth’s Hospitality Group ($RUTH) fell on delta concerns, but both have seen sales momentum as cities reopen ManpowerGroup ($MAN) announces new stock repurchase program for up to 4M shares Haverty’s ($HVT) announces new $25M stock repurchase program Energy Oil prices looking lower as WTI Crude slips 3.75% or over $2.50 to $65.70 (lowest levels since June) as worries about the COVID Delta variant’s impact on global growth increase. Goldman Sachs cut its forecast for China Q3 and full-year GDP, but does expect the government to bring the outbreak under control in about a month. Also, China’s crude imports slipped to the lowest since May last month after operations were halted at key ports on the east coast due to a typhoon. The nation imported 41.24 metric tons of crude in July, according to data. Saudi Aramco made net profit of 95.5 billion riyals ($25.5 billion) in the second quarter, the highest level since the end of 2018. Free cash flow rose to $22.6 billion Financials Berkshire Hathaway Inc. ($BRKA) said Q2 net earnings rose 7%, boosted by improved results for its railroad, utilities and energy companies. Operating earnings, which exclude some investment results, rose to $6.7B from $5.5B in the year prior. Profits increased within the company’s rail-road, utilities and energy divisions but declined at the company’s vast insurance operations Hudson Pacific Properties ($HPP), a real estate investment trust that leases space in West Los Angeles, could gain on bets its Hollywood producer and plastic surgeon tenants won’t give up their offices according to Barron’s. Boston Properties ($BXP) was also recommended for its exposure to the thriving health care and tech sectors in Boston and the San Francisco Bay Area. DiamondRock ($DRH) files automatic mixed securities shelf Healthcare Exact Sciences ($EXAS) has approached Invitae ($NVTA) about a possible merger, Bloomberg reported late Friday while saying the companies are not in active talks, and if a deal materializes, it could be an all-stock deal with a low premium https://bit.ly/37wMxch Eton Pharmaceuticals’ ($ETON) antiepileptic topiramate oral solution FDA action date has been delayed three months to November 6, 2021, according to an SEC filing after a decision was expected on Friday. Lexicon ($LXRX) files $200M mixed securities shelf Epizyme Inc. ($EPZM) rises after announcing a deal with Hutchmed China to develop Tazverik, a medicine used to treat certain patients with epithelioid sarcoma and others with follicular lymphoma Elanco ($ELAN) Q2 adj EPS $0.28 vs. rest. $0.26; Q2 revs $1.28B vs. est. $1.23B; sees Q3 adj EPS $0.15-$0.19 vs. est. $0.20; sees Q3 revs $1.075B-$1.1B vs. est. $1.09B Industrials & Materials HVAC stocks Carrier Global ($CARR), Lennox International ($LII), Trane Technologies ($TT), and Johnson Controls International ($JCI)-have all reported strong calendar Q2 earnings and are up an average of more than 40% this year, according to Barron’s. Article notes the HVAC business is rapidly becoming one of the most consistent end markets in the industrial universe, and it’s also becoming an important ESG play Air Products ($APD) Q3 adj EPS $2.31 vs. est. $2.36; Q3 revs $2.6B vs. est. $2.49B; sees Q4 adj EPS $2.44-$2.54 vs. est. $2.51; narrows FY21 adj EPS view to $8.95-$9.05 from $8.95-$9.10 (est. $9.07); sees 2021 cap-ex spending of about $2.5B Barrick Gold ($GOLD) Q2 adj EPS $0.29 vs. est. $0.28; Q2 revs $2.89B vs. est. $3.06B Technology, Media & Telecom Dish ($DISH) Q2 EPS $1.06 vs. est. $0.89; Q2 revs $4.49B vs. est. $4.43B; Q2 Net Pay-TV subscribers decreased approximately 67,000, compared to a net decrease of approximately 96,000 in the year-ago quarter; closed the quarter with 10.99M Pay-TV subscribers, including 8.55M DISH TV subscribers and 2.44M SLING TV subscribers Nokia ($NOK) could continue to rally (after rising 56% YTD) according to Barron’s as it recovers from a period of underperformance. It will benefit from telecom operators upgrading their equipment to support 5G and the work- at-home trend. It’s also a meme stock favored by retail investors. Corporate tech spending is forecast to rise again, and two stocks to benefit from the trend are Microsoft ($MSFT) and Cisco Systems ($CSCO), according to Barron’s. LinkedIn, owned by Microsoft, could get a boost from increased worker mobility and job listings. Evercore ISI analyst Amit Daryanani sees a path for Cisco to reach $100 per share TikTok owner ByteDance Ltd. is reviving plans to list in Hong Kong by early next year even as Chinese authorities widen their crackdown on the country’s technology companies, the Financial Times reported
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Lexicon is a biopharmaceutical company with a mission of pioneering medicines that transform patients' lives. Through its Genome5000™ program, Lexicon scientists studied the role and function of nearly 5,000 genes and identified more than 100 protein targets with significant therapeutic potential in a range of diseases. Through the precise targeting of these proteins, Lexicon is pioneering the discovery and development of innovative medicines to safely and effectively treat disease. Lexicon advanced one of these medicines to market and has a pipeline of promising drug candidates in discovery and clinical and preclinical development in neuropathic pain, heart failure, diabetes and metabolism and other indications.