Bank of NY Mellon Corp [BK] - Last Close: $38.41
BNY Mellon is trending after an early morning earnings release.
The mid-cap bank reported better-than-expected Q3 adjusted earnings of $1.21 per share, up from $1.09 a year earlier, and beat the Street's $1.08 per share target.
BNY's total revenues for Q3 came in at $4.28 billion, which also beat analysts' forecast of $4.20 billion.
The bank also announced it would maintain its quarterly dividend at $0.37 per share, payable on Nov. 10th to shareholders of record on Oct. 27th.
BK is leading the S&P 500 with a 4.8% gain.
My Take: Good quarter for BNY Mellon, but the stock has been in a down-trend since August. However, it could be a good value at this price point.
Milestone Pharmaceuticals [MIST] - Last Close: $8.49
Breakthrough clinical data is boosting shares of Milestone Pharma.
This morning, the micro-cap biopharma firm announced its paroxysmal supraventricular tachycardia therapeutic candidate, etripamil, met its primary endpoint during a Phase 3 trial.
The drug candidate demonstrated "statistically substantial" and "clinically meaningful" effects compared to placebo, Milestone said in a statement accompanying the data release.
Eetripamil also showed a consistent safety and tolerability profile that may clear the way for patient self-use.
Milestone says it plans to file a new drug application with the US Food & Drug Administration by the middle of next year.
MIST is up 29.3% on active premarket trading volume.
My Take: This drug still has a long way to go before it gets full FDA approval. However, MIST has been on a hot steak since May. This could be a micro-cap biotech stock worth adding to your watchlist.
Acorda Therapeutics [ACOR] - Last Close: $0.3353
Acorda Therapeutics is surging on news of a favorable court ruling.
The biopharma firm announced Sunday that a three-judge arbitration panel awarded it $16.5 million in a deciding ruling on the company's license dispute with Alkermes [ALKS].
According to the ruling, Acorda will receive $15 million plus prejudgment interest of $1.5 million.
Also, Acorda will no longer have to pay Alkermes any royalties on net sales fo the license and supply of the AMPYRA drug, which was the subject of the dispute.
"Acorda is now free to use alternative sources for supply of AMPYRA, which the company has already secured," the company said in a statement.
ACOR is trading actively with a 57.1% gain on the news.
My Take: This tiny stock seems to have found some support at the $0.30 mark, and today's rally could give it an extra push. But, you should expect some volatility in this very low-float stock.
Inpixon [INPX] - Last Close: $4.78
Inpixon is skyrocketing in an epic rebound rally.
The tiny IT services stock set a new 52-week low last Thursday when shares tumbled as low as $4.26, but share prices began to rebound the next day.
INPX shrugged off its new 52-week low with a 9.8% rally on Friday, despite no news reports pertaining to the stock.
Today, the rebound rally has kicked into fifth gear. Shares are up big ahead of the opening bell with almost no news to explain the move.
INPX is one of this morning's most actively-traded stocks, and it's up 60.8%.
My Take: This rally has all the hallmarks of a short squeeze. INPX's short ratio is extremely elevated, and the bulls seem to have zeroed in on this low-float opportunity.
