Stocks Traders Are Watching: April 21, 2017

The U.S. equity market has been on a roller coaster ride this week. Now, there was an attack in Paris yesterday, when a gunman killed one police officer, which could add some volatility to the markets ahead of the first round of the French Presidential election. The market looks like it’s going to open up, more or less, flat. However, there were some stocks moving ahead of the open, and here are the stocks traders are watching.

Stocks Traders Are Watching

XBiotech Inc (NASDAQ:XBIT) shares are down over 25% ahead of the open, after it filed an SEC Form 8-K, announcing the outcome of the EMA’s oral explanation meeting. XBiotech announced that the European Medicines Agency gave the company a negative “trend” vote, after the agency met with XBiotech to discuss its Day 180 List of Outstanding Issues. Consequently, it’s unlikely that the Committee for Medicinal Products for Human Use (CHMP) would have a positive opinion.

Here’s a look at XBIT on the 15-min chart, with premarket trading included:

Source: TradingView

Shares of bebe stores, inc. (NASDAQ:BEBE) are down 4% during the premarket, after the company filed an SEC Form 8-K and stated that it entered into a Consulting Agreement with Great American Group and Tiger Capital to sell all of the company’s and some of its subsidiaries’ merchandise and inventory located in its existing stores. Additionally, the company would sell certain trade fixtures, furnishings, equipment and improvements to real property. Bebe Stores anticipates to close all of its stores by the end of next month.

Here’s a look how BEBE has been trading, on the daily chart:

Source: TradingView

Diana Shipping Inc. (NYSE:DSX)  was up over 5% during the premarket, at one point, after the company announced the pricing of its offering of 17.5M common shares at $4 per share. This would amount to gross proceeds of $70M, and underwriters were granted an over-allotment option, for a period of 30 days from the closing of the offering, to buy up to an additional 2.625M common shares, which would be approximately $10.5M. The proceeds are expected to be used to fund the acquisition of dry bulk vessels.

Here’s how DSX was trading ahead of the open:

Source: TradingView

Applied Optoelectronics Inc (NASDAQ:AAOI) shares were up over 3% during the premarket, after the company issued a press release last night, stating that it would be replacing Adeptus Health Inc (NYSE: ADPT) in the S&P SmallCap 600 Index, which would be effective before the open on April 25.

Here’s a look at AAOI on the daily chart:

Source: TradingView

Antares Pharma Inc (NASDAQ:ATRS) was trading higher by over 1% before the market open, after Raymond James initiated the stock with a Strong Buy. Raymond James has a 12-month share price target of $4.30, indicating ATRS may be well positioned in the brand and generics, as well as the partnered and self-marketed drugs with novel drug delivery technologies markets.

ATRS daily chart:

Source: TradingView

Some key U.S. economic data will be released slightly after the market opens. The PMI Composite Flash Index numbers will be released at 9:45 AM ET. The consensus estimate for the manufacturing level is 53.9 and services level is 53.1. Thereafter, Existing Home Sales data will be released at 10:00 AM ET. Economists are looking for existing home sales to come in at 5.605M.


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