U.S. stock markets traded higher in premarket trading Friday with the major indexes well in the green due to a positive earnings season. The Standard & Poor's 500 and Nasdaq hit record highs.
Shares of PhaseRx Inc. (PZRX, Financial) jumped in premarket trading due to the announcement that the company will restructure operations to reduce operating costs and postpone the development of PRX-OTC, its leading product. The plan consists of reducing the workforce by 10 employees, including executive officers. The objective is to preserve the company's cash resources.The plan also includes strategic alternatives, such as some merger transactions. There is no timetable or schedule established for this so it can result in a transaction or not.
On the other hand, shares of Helios and Matheson Analytics Inc. (HMNY, Financial) continue falling after Thursday´s 40% loss. On a year-to-date basis, the stock rallied more than six times to the actual $18 from its $3.28 level of January.
Gainers
• DXC Technology Co. (DXC, Financial).
• Everest Re Group Ltd. (RE, Financial).
• Alliance Data Systems Corp. (ADS, Financial).
• Helmerich and Payne Inc. (HP).
• Seagate Technology PLC (STX, Financial)”‹.
• Cerner Corp.”‹ (CERN, Financial).
• Monsanto Co. (MON, Financial).
• Tiffany & Co”‹. (TIF, Financial).
• Netflix Inc. (NFLX, Financial).
• Hess Corp. (HES, Financial).
Losers
• Ulta Beauty Inc. (ULTA).
• PG&E Corp. (PCG).
• Centene Corp. (CNC).
• Wells Fargo & Co. (WFC).
• Envision Healthcare Corp. (EVHC).
• XL Group Ltd. (XL).
• Navient Corp. (NAVI).
• DISH Network Corp. (DISH).
• Charter Communications Inc. (CHTR).
• JB Hunt Transport Services Inc. (JBHT).
Global markets
The main European stock markets traded mixed after a report that the European Central Bank may continue with asset purchases. The FTSE 100 lost 0.19%, the French CAC 40 fell 0.19%, and the IBEX 35 closed down 0.21% while Germany´s DAX closed flat.
In Asia, markets closed higher. China’s Shanghai, India’s BSE Sensex, Hong Kong’s Hang Seng Index and Japan’s Nikkei Composite Index were up 0.13%, 0.78%, 0.06% and 0.96%.
Disclosure: The author holds no position in any stocks mentioned
