My Take: BWA's close relationship with the automobile sector may explain some of its recent volatility. Bearish forecasts from major U.S. automakers could be souring sentiment on this stock, despite the lack of company-specific news.
Aaron's Company [AAN] - Last Close: $7.22
Aaron's is rebounding after a rough row.
Last week, the rent-to-buy company reported weaker-than-expected fiscal 2023 results that fell short of Wall Street's expectations, and a sell-off followed.
Aaron's sales declined by 11.4% YoY to $525.68 million for the year, and missed the Street's $536.1 million target.
The company's adjusted EPS also missed the market, although its overall operating loss narrowed compared to last year.
Shares of AAN are down 21.9% as a result of its post-earnings sell-off, but shares are rebounding in today's premarket.
AAN is up 22.1%, despite no company specific news.
My Take: AAN appears to be undergoing a natural correction after last week's potentially-overdone sell-off. This stock has some appealing aspects to it, and we could see the downward move bottom out soon. I'm watching this one.
Miromatrix Medical [MIRO] - Last Close: $1.04
A buyout deal is boosting shares of Miromatrix Medical.
Today, the company announced it has agreed to be acquired by United Therepeutics [UTHR] in an all-cash $91 million deal.
MIRO investors will receive $3.25 per share on close, plus an additional milestone payment of $1.75 tied to mirokidney™'s clinical progress.
The transaction is expected to close in the fourth quarter of 2024, subject to shareholder approval and customary closing conditions.
MIRO is today's top premarket stock with a 225.0% gain.
My Take: MIRO landed one hell of a deal here, but the upside is all but gone. At this point, you'd be getting in with the hopes the milestone payment is achieved, but there's no guarantee it will come through.
VYNE Therapeutics [VYNE] - Last Close: $2.25
VYNE Therapeutics is up on the heels of a promising clinical update.
The NJ-based biopharma firm said preclinical models for its oral BD2-Selective BET inhibitor VYN202 showed positive effects in psoriasis & arthritis patients.
CEO David Domzalski said, "These compelling preclinical data in skin inflammation and joint disease models highlight VYN202’s potential for therapeutic utility..."
VYNE will host an R&D Day event on Thursday, November 9, 2023, at 1:30 p.m. ET, and it's planning to submit an IND to the FDA by year-end.
VYNE is one of this morning's top movers with a 44.3% gain.
My Take: Looks like VYNE is onto a promising drug here. Arthritis and psoriasis are both relatively common, so there could be a huge market for this drug if approved. This long-shot could be worth watching.
