Pre-Market Movers April 7, 2017

The markets look to be opening up flat, ahead of the U.S. Jobs report. Crude oil prices were up during the pre-market after the U.S. Navy launched strikes on Syria. In turn this sent gold and bond prices higher, as they are perceived to be safe havens. This news may overshadow the jobs reports, but we’ll still keep an eye on how those numbers are. President Trump is set to meet with Chinese President Xi Jinping for a second day. Now, this meeting will be in focus for the overall market, and President Trump accepted an invitation to visit China, according to a Chinese news agency. Again, these are more big-picture events, and we’re more focused on today’s trading. There are some stocks moving in the premarket, and here’s what we’re looking at today:

Catalyst Biosciences Inc (NASDAQ:CBIO)

Catalyst Biosciences Inc shares were down over 10% during the pre-market, after the company filed a Form EFFECT, a notice of effectiveness, for an S-1. According to the company’s Form S-1MEF, the total proposed maximum aggregate offering price is $4.916M, while the company had a market cap of $6.40M as of yesterday’s close. The offer would be split into Class A units, which would be have a maximum aggregate offering amount of $2.1M, and Class B units, which would have an amount of $1.35M. Additionally, the common stock issuable upon the exercise of warrants would be $1.466M. That in mind, this may be viewed as a potentially dilutive measure.

Aurinia Pharmaceuticals Inc (NASDAQ:AUPH)

AUPH shares are rising over 5% during the pre-market, after Lumira Capital reported a 4.77% passive stake in the company. Hedge fund Lumira Capital filed a Schedule 13G, indicating the company holds 2.9M shares in Aurinia Pharmaceuticals. In addition to this, Aurinia announced, yesterday, that it believes its confirmatory data could be generated from the Phase III clinical trial, as well as from its recently completed Phase IIb study of AURA-LV. In turn, this could support regulatory submissions in Europe, Japan and the U.S.

Cleantech Solutions International Inc (NASDAQ:CLNT)

Cleantech Solutions International shares more than doubled yesterday, and it’s trading up during the premarket, which was due to a letter received by Nasdaq. After the stock more than doubled yesterday, it regained compliance with the Nasdaq minimum bid price listing price, which could be considered a positive catalyst.

Diana Shipping Inc. (NYSE:DSX)

Diana Shipping Inc. shares are up nearly 8% during the premarket, after JPMorgan upgraded some dry bulk names. JPMorgan upgraded Diana Shipping to Overweight, from neutral, indicating that the firm sees some upside potential in DSX. JPMorgan Chase announced an $8.00 per share price target on the name.

Employment Situation

The jobs report will be released at 8:30 AM ET, and the unemployment rate is expected to be 4.7%, nonfarm payrolls are expected to grow by 175K month over month, and private payrolls are expected to rise by 170K month over month.

 

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