The Greek stock market is looking to reopen with restrictions. Investors will only be able
to buy with existing holdings of cash, which means that they cannot withdraw from their bank accounts. Banks opened up again as of July 20, and are limited to about $455 in withdrawals a week. This news has had relatively positive effects on penny stocks, including Net Element Inc (NASDAQ:NETE), Progressive Care Inc (OTCMKTS:RXMD), and Hybrid Coating Technologies Inc (OTCMKTS:HCTI)
Net Element Inc (NASDAQ:NETE) of the Technology sector is up 71.99% as of Friday, July 31. The high of the day by noon was $0.488, and then proceeded to $0.3621 by 2:00 the same day. At noon on Friday, NETE was trading with a volume of 9,977,301 shares. NETE’s weekly performance of 174.9% from Monday’s opening and a 52 week low of $0.12. NETE’s monthly performance stands at 31.89% and considered a stock to watch at the moment.
Progressive Care Inc (OTCMKTS:RXMD) has returned from its boom back in June. On Friday, June 21, the high of the day was at $0.0087 by noon. The 30day average volume was at 6.14 million shares as of Friday afternoon. Now that the stock has returned to normal rates, many are on watch for this stock. In June, the stock rose around 800%, so many are looking for the same rise. No news has been out for some time now, but they should be releasing their second quarter earnings report soon.
Alerted by Penny Stock Observer June 23 2015
Hybrid Coating Technologies Inc (OTCMKTS:HCTI) is up 45.71% at $0.0051 (redo) (from the open friday) and trading at a volume of 27,889,976. With the announcement of winning the Presidential Green Chemistry Challenge Award, the stock is on an upward trend. The award won is very prestigious, supported by the White House Office of Science and Technology Policy and the American Chemical Society. The award also recognizes “landmark green chemistry
technologies developed by industrial pioneers and leading scientists in the field of green chemistry.” Although HCTI is down 94.01% for the year, buyers are looking for it to bounce back up.
Eanings Review: Rambus Inc. (NASDAQ:RMBS), Revlon Inc (NYSE:REV)
Revlon Inc(NYSE:REV) +2.5% after-hours after announcing that President and CEO Fabian Garcia is stepping down “to pursue other opportunities,” and Executive Vice Chair Paul Meister will oversee operations on an interim basis.
REV also says it expects Q4 revenues of $785M, below $801M from the year-earlier quarter but ahead of analyst consensus estimate of $743M, and a $60M-$80M net loss for the quarter due to a charge related to the recent tax law changes.
REV expects Q4 adjusted EBITDA of $110M-$115M vs. $115M analyst consensus.
CFO Chris Peterson also denies rumors that the company is considering a material asset transfer that would shield assets from lenders.
Rambus Inc.(NASDAQ:RMBS) shares are down 5.5% aftermarket following Q4 results that beat revenue estimates and met on EPS. In-line Q1 guidance (under ASC 605 accounting change) has revenue from $94M to $100M (consensus: $100.38M) and EPS from $0.17 to $0.23 (consensus: $0.18).
Revenue breakdown: Royalties, $77.9M (+10% Y/Y); Product, $8.5M (-27%); Contract and other revenue, $15.5M (+2%); Licensing billings, $76.6M (+18%).Key metrics: Non-GAAP operating margin, 31%; total operating expenses, $67.5M; cash and equivalents, $172.2M; cash flow from operations, $33.3M.
ADTRAN, Inc. (NASDAQ:ADTN) Hits New Lows After Issuing disappointing Earnings Forecast
ADTRAN, Inc.(NASDAQ:ADTN) slumped to a 52-week low after forecasting below consensus guidance for Q4, revising its revenue estimate downward to $125M from $155M-$165M earlier and seeing EPS of ~$0.01; analysts had expected EPS of ~$0.14 and revenue of $161.2M.
ADTN also projects Q1 to come in at roughly the same as Q4, misses analyst consensus of $167.5M.
CEO Tom Stanton says Q4 results have been hurt by a merger-related review, which ADTN expects to be completed in 60-90 days, and slowdown in the spending at a domestic Tier 1 customer.
MKM Partners analyst Michael Genovese believes the customer is CenturyLink (CTL -2%), which accounted for 24% of ADTN’s total sales in 2016.
The analyst thinks the weakness should prove temporary, adding that ADTN’s performance likely will accelerate into 2019 as the company stands to benefit from 5G spending; MKM trims its ADTN target price to $25 from $27 but keeps its Buy rating.
Big IPO Coming: Celator Pharmaceuticals Inc(NASDAQ:CPXX), Moleculin Biotech’s (MBRX)
Today at 10am Eastern, Moleculin Biotech ticker symbol MBRX will debut on the Nasdaq stock exchange and is being considered as one of the most highly anticipated IPO’s of 2016 by the street. The excitement and anticipation is arising from many experts saying that Moleculin Biotech’s (MBRX) drug annamycin is far superior to Celator Pharmaceuticals Inc(NASDAQ:CPXX) drug daunorubicin.
CPXX which has been bought out by Jazz Pharmaceuticals plc – Ordinary Shares(NASDAQ:JAZZ) for $1.5 Billion Dollars last week, share price ran from $1.6 to $31 in 2 months. Moleculin Biotech’s share structure is a 1.5m public float Priced at $6.