Nutanix [NTNX] - Last Close: $31.10
Nutanix is up after an early-morning announcement.
Earlier today, the software firm said its board approved a $350 million share repurchase agreement for its Class A shares.
Repurchased will be executed from time to time via open markets, private transactions, and other means.
NTNX is up 19.5% in response to the announcement.
My Take: NTNX share buyback could give it additional price support, and today's rally could put it past a stiff resistance level that has kept shares stuck below the $32 mark.
EOS Energy Enterprises [EOSE] - Last Close: $3.25
A groundbreaking premarket announcement is boosting shares of EOS Energy.
This morning, the electrical equipment company said it will launch a $500 million clean energy storage expansion project in the Pittsburgh area.
EOS Energy said the plant will provide 8-gigawatt-hour of storage production capacity by 2026.
A loan from the U.S. Dept. of Energy's Loan Programs Office is expected to fund 80% of the project, if it's finalized.
The company said the project will address increased demand for long-term energy storage and create 650 new green energy jobs in the Pittsburgh area.
Guggenheim upgraded EOSE to "buy" and set a $10 price target in response to the news.
EOSE is one of today's top movers with a 56.6% gain.
My Take: EOSE hasn't even been approved for its loan yet, so this move might be a little preemptive. I am gonna hold off on this one a bit.
Novo Integrated Sciences [NVOS] - Last Close: $0.14
Novo is trending after a late-Thursday announcement.
After Thursday's close, the healthcare company said it received underwriter clearance for a unsecured $70 million promissory note with a 15-year term.
Novo landed the loan through a deal with SCP Tourbillion Monaco,who served as the primary buyer and provided $57 million in debt funding.
The note will provide a non-compounding yield of 1.52% per year.
NVOS is this morning's top performer with a 69.2% gain on active trading volume.
My Take: NVOS is getting a big boost from this move, which is understandable given the size of the note compared to the company's $22 million market-cap. The note could fuel growth at the company, but only time will tell if Novo will use the capital wisely.
Axcella Health [AXLA] - Last Close: $0.2310
Axcella Health continues to trade erratically after a big rally earlier this week.
On Tuesday, Axcella announced a new patent for its long-COVID fatigue treatment, AXA1125, and rallied more than 300% on the news.
After its big rally, shares pulled back on Wednesday and Thursday, but the correction appears to have been overdone.
Following two days of declines, the stock is rebounding in dramatic fashion in today's premarket.
AXLA is one of this morning's most active stocks, and it's up 29.8%.
My Take: AXLA's chart is very ugly, and I don't think a long COVID treatment is going to be a game-changer. I'm not optimistic about this company's long-term outlook.
