Companies featured in this edition of the newsletter: ENZ, OPSSF/ OPS.V
The stock market ended on a slightly lower note after contending with another range bound week. Investor participation remained light with an average of 756 million shares changing hands at the NYSE per day. The Dow Jones Industrial Average finished the week at 18,552 down 24 points or -0.15%, and it is up 6.5% for the year. The Nasdaq finished the week at 5,238 up 5 points or 0.1% from 5,233 last week, and it is up 4.6% for the year. The S&P 500 finished the week at 2,184 down -0.18 points or -0.0% from 2,184 last week, and it is up 6.8% for the year. The Russell 2000 finished the week at 1,237 up 7 points or 0.6% from 1,230 last week, and it is up 8.9% for the year.
The Consumer Price Index (CPI) for July was unchanged, as expected, after increasing 0.2% in June. Core CPI, which excludes food and energy, was up 0.1% after a 0.2% in June. Housing starts in July were up 2.1% to a seasonally adjusted annual rate of 1.211 million units. Building permits declined 0.1% to 1.152 million. Industrial production increased 0.7% in July on the heels of a downwardly revised 0.4% increase in June. Which marks its strongest pace of increase since November 2014. The Capacity Utilization Rate increased to 75.9% from an unrevised 75.4% in June.
Initial claims for the week ending August 13 slipped to 262,000 from last week’s unrevised level of 266,000. Continuing claims for the week ending August 6 jumped 15,000 to 2.175 million. The Philadelphia Fed Index for August produced a positive surprise, checking in at 2.0 after a negative 2.9 reading in July. The Conference Board’s Leading Economic Index for July increased 0.4%, as expected, and on top of an unrevised 0.3% increase in June.
This week Home Depot reported 2Q Fiscal 2016 net earnings of $2.4 billion or $1.97 per diluted share compared with $2.2 billion or $1.73 per share in 2015. Lowe’s reported net earnings of $1.2 billion or $1.31 compared with $1.1 billion or $1.20 per share in the same quarter of 2015. Target reported 2Q 2016 net earnings of $680 million or $1.16 per diluted share compared with $753 million or $1.18 per share last year. Lastly, Wal-Mart reported net income of $3.8 billion or $1.21 per diluted share compared with $3.5 billion or $1.08 per share in the same quarter a year ago.
No Conferences of note are taking place this week.
Volume Alert: Enzo Biochem, Inc. (NYSE: ENZ), a pioneer in molecular diagnostics, saw a spike in its trading volume on Wednesday as it traded over 500,000 shares- that’s almost two times it’s three month average daily volume.
Enzo closed the week at $5.88.
Opsens Inc. (OTCQX: OPSSF) (TSX: OPS.V), a healthcare company that engages in the development, manufacture, sale, and installation of fiber optic sensors for interventional cardiology, fractional flow reserve (FFR), oil and gas, and industrial applications, announced that OptoWire’s performance was highlighted in the Circulation Journal, the Official Journal of the Japanese Circulation Society.
The article, written jointly by Dr. Nico HJ Pijls and Dr. Bernard de Bruyne is called “Fractional Flow Reserve, Coronary Pressure Wires, and Drift”. The article highlights the fact that traditional guidewires showed an inevitable drift of the measure, despite major efforts to minimize it. In the article, it is mentioned that in their laboratories, they used approximately 100 OptoWire in the past year and they have not observed any drift in any of the OptoWire up to now.
Louis Laflamme, President and CEO of Opsens, mentioned that Opsens is honored to see a significant strength of its patented original pressure guidewire such as the accuracy of the measurement being recognized by the founding fathers of FFR. In the future, Opsens aims to contribute to FFR growth by providing high performance products to the cardiology community.
Opsens closed the week at $1.22 on the OTCQX under OPSSF and $1.62 on the Venture Exchange under OPS.V.
A profile, description, or other mention of a company in the newsletter is neither an offer nor solicitation to buy or sell any securities mentioned. While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein. THE READER SHOULD VERIFY ALL CLAIMS AND DO ITS OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. This publication accepts compensation from companies that it features. This newsletter should not be regarded as an independent publication. Our editors may, from time to time, acquire positions in the companies that they cover. This could represent a conflict of interest. The CEOcast newsletter shall be under no obligation to inform readers about its trading activities. CEOcast's editors reserve the right to buy or sell shares in these companies at any time. The following companies, featured in this newsletter, have compensated CEOcast: Enzo Biochem, five thousand dollars cash per month. Opsens, fifteen thousand dollars cash.