Markets hit a modest turbulent patch on Thursday, but only relative to recent gains, with indexes close to flat by the end of the trading session.
Our system highlighted several lucrative long plays today; our top performers continue to be focused on news confirming a stronger forward looking earning picture for relevant companies.
From pharmaceutical development news to major government contracts, investors are hungry for tangible earnings growth in a market with high prices in historical terms.
Kura Oncology is a pharmaceutical development company, focused on applying advancements in genomic knowledge to cancer treatment. Their current pipeline consists of “small molecule drug candidates that target cancer signaling pathways where there is a strong scientific and clinical rationale to improve outcomes...”
They received positive news regarding the commercialization of this pipeline on Thursday. KURA announced positive overall results from a Phase 2 trial for its top product candidate for certain forms of carcinoma, tipifarnib/
Investors bought heavily on the news, which substantially increases the likelihood that tipifarnib ends up a commercially viable treatment.
KeyW, a holding company, announced that its subsidiary Sotera Defense Solutions had won a three-year, $18M contract to provide business systems software engineering and support to the U.S. Army Communications-Electronics Command, CECOM. This is the fifth order awarded to Sotera under a $7 billion IDIQ contract between the DOD and the KEYW subsidiary.
Sotera will provide a variety of services to CECOM under the deal, including software engineering, development and sustainment, business consulting, IT infrastructure, procurement management and administrative services.
Zumiez is an American clothing company, strongly branded for the “Skater” sub-culture and aesthetic. Their stock jumped over 10%, with strong earnings driving investment in retail infrastructure.
Overall sales increased 7.8% to $192.2 million from $178.3 million in the equivalent quarter from 2016. Strong sales growth, coupled with upward revised forward guidance, seems to confirm recent growth for ZUMZ, which plans to open 18 new stores in FY17.
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