Pre-Market Movers April 4, 2017

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The overall market looks like it be opening lower this morning. This might make for an interesting day as U.S. International Trade numbers were released, which could dictate how President Trump’s and Chinese President Xi Jinping’s meeting this week, in Florida. Now, that’s the bigger picture and there is a lot of uncertainty in the meeting, but for today, we’re focused on a couple of stock in the small-cap space that may be worth trading. Here are some stocks that have caught our attention in the pre-market:

Cyclacel Pharmaceuticals Inc (NASDAQ: CYCC) is up over 30% in pre-market trading, which may be due to momentum after it was up 74.46% yesterday. Yesterday’s move was due to its release of preclinical data for CYC065, which is currently being studied as an anti-cancer agent.

The stock recently made a double bottom, and yesterday’s catalyst pushed it above its 20-, 50- and 200-day SMA. CYCC is currently 47.95% above its 50-day SMA and 32.18% above its 200-day SMA. CYCC also has a short interest above 10%, which could cause a short squeeze.

RedHill Biopharma Ltd. (NASDAQ: RDHL) shares are up nearly 5% during the pre-market, after receiving U.S. FDA Orphan Drug Designation for YELIVA, used for the treatment of Cholangiocarcinoma, or bile duct cancer, which has a high level of lethal malignancy. Additionally, it could receive a seven-year marketing exclusivity period for the indication, if the drug is approved for marketing. RDHL is looking to pursue multiple Phase I/II clinical studies with the bile duct cancer drug. RDHL is set to break above its 20- and 50-day SMAs, indicating a reversal of its recent downtrend.

New Mountain Finance Corporation (NYSE: NMFC) shares were down over 3% during the pre-market hours after it announced it commenced an underwritten common stock offering of 5M shares. NMFC also plans to grant the underwriters of this offering an option to purchase up to an additional 750K shares of its common stock. NMFC currently has 69.95M shares outstanding and 62.93M shares floating. due to this dilutive measure.

Conn’s, Inc. (NASDAQ: CONN) is up over 20% after it reported its 4Q 2016 financial results, which beat Capital IQ’s consensus EPS estimate by 23 cents per share. CONN also reported revenue of $432.8M for the 4Q, beating Zacks consensus estimate of $431.1M. Shares are set to break above its 20-, 50- and 200-day SMA, and it’s indicating a reversal in the stock’s recent downtrend.

Advanced Micro Devices, Inc. (NASDAQ: AMD) is down over 1% during pre-market trading, which may be due to Apple’s implication that it wants to use internally-developed graphics technology, rather than using AMD’s of NVIDIA’s graphics processing units (GPUs). Now, Apple’s internally-develop GPUs could replace AMD’s GPUs in Macs, which would hurt AMD’s revenues and earnings.

Here are some economic indicators you’ll want to focus on:

  • International Trade data was released at 8:30 AM ET, and the trade balance level was -$43.6B, while the consensus estimate was -$44.5B. The U.S. trade deficit narrowed to a four-month low due to a decline in imports and an increase in exports.
  • Factory Orders at 10:00 AM ET. The prior month-over-month change in factory orders was 1.2%. The consensus estimate is 1.0%.

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