Small Cap Stocks Traders Are Watching: May 8, 2017

The markets are set to open quietly after few surprises over the weekend. The one potential catalyst, the French Presidential election on Sunday, ended up being a non-event for the markets. With Emmanuel Macron winning, the attention of traders will go back to earnings.

With that said, here are some early movers that traders are watching this morning:

Oncomed Pharmaceuticals (Nasdaq: OMED): shares are trading lower by 16.8% in light pre-market volume, after the company announced Q1 2017 results. The company said that it lost $0.61 per share, $0.01 better than the Capital IQ Consensus. In addition, the cancer therapy developer reported revenue of $6.2M, a beat, as analysts were expecting $5.9M.

The company plans to have its conference call an hour before today’s market open.

Take a look at the daily chart of OMED, based on Friday’s close:



Asure Software (Nasdaq: ASUR): shares are up 7% on light pre-market volume, after the company received a buy upgrade from Canaccord Genuity, and a price target of $15 per share. Back in March, the company received a an outperform rating and a price target of $13 from Barrington Research.

The cloud computing company plans to announce its Q1 2017 results on May 11, 2017.

Asure CEO Pat Goepel and CFO Brad Wolfe will host the presentation, followed by a question and answer period.

Date: Thursday, May 11, 2017

Time: 11:00 a.m. Eastern time (8:00 a.m. Pacific time)

U.S. dial-in:  (877) 853-5636

International dial-in: (631) 291-4544

Conference ID: 8489545

Here’s a look at the chart for ASUR from Friday’s close:



Tower Semiconductor (Nasdaq: TSEM): shares up 6.8% in the premarket, after the company announced its Q1 2017 results. That said, here are some of the highlights from it’s quarter:

· Revenues of $330 million, up 19% year over year;


· Gross profit of $85 million, up 38% year over year;


· Operating profit of $53 million, up 71% year over year;


· EBITDA of $101 million, up 30% year over year;


· Net profit of $46 million, up 83% year over year (excluding San Antonio acquisition gain);


· Record free cash flow of $42 million with cash from operations of $82 million;


· Second quarter revenue guidance with mid-range of $345 million, up 13% year over year; targeting continued growth throughout the year.


Source: Company 6-K filing


Take a look at the chart for TSEM based on Friday’s close:




Nordic American Tankers (Nasdaq: NAT):  shares are down 2% premarket, after the company reported Q1 2017 results. It reported a loss of $0.01 per share, and revenues fell 28% year/year to $55.2M.

The company stated its in a solid financial position with a strong cash flow. Here is what else it had to say on the quarter:

  • NAT has paid quarterly dividends 79 times of $48.31 in aggregate per share during the period since 1997.
  • Net Asset Value (NAV), or the steel value of a vessel, is irrelevant when valuing NAT as a going concern.
  • Together with our shareholders, our customers are the most important constituency in NAT.
  • Adjusted Net Operating Earnings[2] (cash surplus) have been as follows: $30.5m for 1Q2017, $28.2m for 4Q2016 and $55.9m for 1Q2016.
  • NAT has a credit facility of $500m, maturing in December 2020. NAT is in compliance with the provisions under the credit facility.
  • The net debt is currently $10.2m per vessel based on a 30 vessels fleet.
  • We always make sure that NAT is in compliance with IMO on Ballast Water Treatment Systems and low sulphur content in bunker oil.

Check out the chart of NAT from Friday:



Durect (Nasdaq: DRRX): shares up nearly 40% in the premarket, after the company announced a development and commercialization agreement with Sandoz AG, a division of Novartis. The deal is in the neighborhood of $293M.

The plan is to develop and market POSIMIR, an investigational local-acting, non-opioid analgesic.

The CEO of the biopharmaceutical company had this to say about the agreement: “We are delighted to collaborate with a company with the market presence and resources of Sandoz to commercialize POSIMIR in the United States.” We believe that POSIMIR has the potential to become a cornerstone of multi-modal post-operative pain management. As a non-opioid local analgesic, we believe POSIMIR may be an important contributor to the on-going efforts to reduce the use of opioid-based medications following surgery.”

Check out the chart of DRRX based on Friday’s close:




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