Stocks on the radar overview

Yesterday we saw our picks outperform once again, with Sarepta Therapeutics Inc. (SRPT) – up 6.8%, CannTrust Holdings Inc. (TSE:TRST) – up 2.6% and Netflix Inc. (NFLX) – up 2.9%, leading the way. Please see the table below for an overview of our picks to date.

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Stocks and Securities

U.S. stock futures lost ground early Thursday, putting the Dow Jones Industrial Average at risk of an eighth down session in a row. Trade-related tensions have been weighing on global markets. The Nasdaq Composite still managed to score an all-time closing high in the prior session thanks to stocks like Netflix (NFLX [stock_quote symbol=”NFLX”]), Amazon (AMZN)  [stock_quote symbol=”AMZN”]  and Facebook (FB) [stock_quote symbol=”FB”].

At the opposite end of the sector standings, the heavily-weighted financial space ended lower by 0.3% even though the 2s-10s spread widened, rebounding from its lowest level in a decade. The yield on the benchmark 10-yr Treasury note advanced four basis points to 2.93% while the 2-yr yield climbed two basis points to 2.57%. The telecom services sector was the worst-performing group with a loss of 1.0%.

Outside of equities, West Texas Intermediate crude futures rallied on Wednesday, rising 1.3% to $65.71 per barrel, after the Department of Energy reported that U.S. crude stockpiles decreased for the second week in a row, declining by 5.9 million barrels. The U.S. Dollar Index ticked up 0.1% to 94.73.

Investors are worried the tensions and recent tariffs could develop into a headwind for the global economy. These concerns come as the U.S. economy, the world’s largest, is increasingly viewed as in the late stages of expansion.

 

Blockchain and cryptocurrencies

Bitcoin and crypto as a whole made a comeback despite slumping hard after a recent hack on a South Korea exchange. Charlie Lee, the founder of Litecoin said the quick rebound was to be expected. “Whenever there’s an exchange hack, people get scared and the price drops.” Whenever there’s some bad news like an exchange hack, the prices drop like 5 percent,” he said. “Five percent is a lot in the stock market world, but it’s like nothing in the crypto space.”

On a lighter note, Akon -a well known R&B singer and Hip Hop artist – has decided to launch Akoin. Akon wants to use Akoin as part of his massive 2000-acre development called Akon Crypto City.

“I think that blockchain and crypto could be the savior for Africa in many ways because it brings the power back to the people and brings the security back into the currency system and also allows the people to utilize it in ways where they can advance themselves and not allow government to do those things that are keeping them down.” – Akon

Akon is well known for his humanitarian projects, having started Lighting up Africa in 2014 in hope to bring solar power to Africa.

Stocks on the Radar

Box Inc.

Box (BOX) [stock_quote symbol=”BOX”] has a really compelling business. What was once a file-sharing system subject to commoditization has quickly adapted to the current world of enterprise. The company is leveraging new services and businesses to increase revenue and boost margins. It’s even putting a larger emphasis on machine learning and artificial intelligence.

These are exactly the types of moves we like to see from a software-as-a-service (SaaS) cloud company. Despite the run in the stock price this year, these developments have Box looking relatively inexpensive compared to its industry peers. While the shares could see a minor pullback, we would use any weakness to accumulate as the shares should trend towards the $40 mark in the coming months.

[finviz ticker=BOX]

 

 

Synaptics Inc.

Synaptics Inc. (SYNA) [stock_quote symbol=”SYNA”] – Dialogue Semi which supplies power management chips for Apple’s iPhone, is in talks to acquire Synaptics, the maker of touch-screen and display technology used in mobile devices, according to various reports.

Dialog, which has a market capitalization of about $1.1 billion, is smaller than Synaptics, whose market capitalization is about $1.5 billion.  Dialog’s initial offer in March for Synaptics was about $59 per share and all cash, according to reports. Synaptics rejected that offer, so if a deal gets done, it will probably be in the $65 range.  We would use any weakness to accumulate shares. However if a deal is nixed, shares could slump back to the $48 range.

[finviz ticker=SYNA]

 

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