The market looks like it’ll be opening up, more or less, flat today. In the grand scheme, politics are in focus, after the Trump administration agreed to engage in high-level trade negotiations with Beijing over the next 100 days. However, the meeting between President Trump and President Xi Jinping may have been overshadowed by the U.S. President’s launch of an airstrike on a Syrian air base. Crude oil futures for delivery in May 2017 were up around 1% during the morning trade, which may be due to the geopolitical tensions in Asia, and between the U.S. and Syria.
Enough with the big picture, let’s move onto some stocks that are moving now. Keep mind this is a shortened week due to the holiday on Friday, but earnings season is about to start with some banks reporting on Thursday. Here’s what we’re looking at during the premarket:
Geron Corporation (NASDAQ: GERN)
Geron Corporation (NASDAQ: GERN) shares are up over 10% during the premarket after it announced its completion of the second internal data review of IMerge and IMbark, as well as the the clinical trials of its telomerase inhibitor imetelstat in lower risk myelodysplastic syndromes (MDS) and relapsed or refractory myelofibrosis (MF), respectively. IMerge is expected to provide the FDA with a data package and proposed trial design refinements. Additionally, IMbark’s current results could be an indication that its product may provide clinical benefit and a potential overall survival benefit. Here’s a look at GERN’s performance after last Friday’s close.
Akorn, Inc. (NASDAQ:AKRX)
Akorn, Inc. (NASDAQ:AKRX) shares are up over 10% during premarket trading, after the company confirmed its discussions with Fresenius Kabi, regarding a potential acquisition of Akorn. On Friday, Fresenius SE & Co, one of the largest health care groups in Europe, stated that it was in talks with Akorn for a potential takeover. Take a look at the daily chart on Akorn:
TherapeuticsMD Inc (NYSEMKT:TXMD)
Shares of TherapeuticsMD Inc (NYSEMKT:TXMD) are down over 25% after it provided its regulator update of TX-004HR. Now, the U.S. FDA is conducting an ongoing review of TXMD’s new drug application for TX-004HR, and the administration identified some deficiencies precluding the discussion of postmarketing and labeling requirements. However, the letter does not specify the deficiencies at this time. Here’s a look at the TXMD on the daily chart, as of Friday:
Rent-A-Center Inc (NASDAQ:RCII)
Rent-A-Center Inc (NASDAQ:RCII) shares are up over 10% during the premarket after the company announced a new strategic plan to drive growth, improve profitability, and potentially increase shareholder value. Rent-A-Center Inc also announced it Mark Speese would be CEO, effective today. The company released some guidance figures and sees its 2018 EPS to come in between $1.20 and $1.40, and its 2019 EPS to be between $2.00 and $2.25. Take a look at RCII’s chart, as of the close on Friday:
The stock looks has broken above its 20- and 50-day SMA, and is trading right near its 200-day SMA during the premarket.
The economic schedule is very slow today, with no real notable data coming out, minus some Treasury auctions. However, after the market close, at 4:10 PM ET, Federal Reserve Chair Janet Yellen will be speaking, which could be interesting.