Top Performers for 9/13: Long Plays, Solid Profits

The markets made modest gains yet again on Wednesday, pushing multiple indexes to new all time records.

Yet another pharmaceutical stock joins today's top performers, along with a shipping company making its second appearance in our top performer profiles.

1.    ImmunoCellular Therapeutics (IMUC): Solid gains on a plan to stay listed on NYSE. 

IMUC Chart

IMUC gained today on news that its plan to remain listed on the New York Stock Exchange was approved. They had received notice that they were in breach of NYSE’s regulations requiring “stockholders' equity of $6.0 million or more if the Company has reported losses from continuing operations and/or net losses in its five most recent fiscal years.”

ImmunoCellular Therapeutics is a Los Angeles-based clinical-stage pharma company that is developing treatments for brain and other forms of cancer. While exchange listings have no direct effect on stock price or operations, IMUC gained nearly 15% on the news. Investors may take NYSE’s acceptance as evidence of solid underlying financials for IMUC.

2.    Top Ships (TOPS): Strong gains on news of a new loan agreement and shipping charter.

TOPS Chart

Top Ships (TOPS), an international shipping operator, announced multiple positive events on Wednesday. First, they announced the chartering of one of their ships to another shipping company for up to $27.5 million. TOPS continues to pursue cash to upgrade their fleet and achieve new synergies and economies of scale. They simultaneously announced a new loan agreement for $23.5 million.

Investors bought into the growth plan, buying the stock to the tune of 13%+ gains.

3.    United Foods (UNFI): 6%+ gains on strong earnings news.   

UNFI Chart

United Foods (UNFI)’s stock price jumped up on Wednesday after the release of a strong earings report. Net sales for Q4 2017 increased 5.7% to $2.34 billion from $2.21 billion in 2016. Sales gains were driven by recent of acquisitions of Haddon House Food Products, Inc. and Gourmet Guru, Inc. Financial results were positive across the board.

United Foods is a supplier of ingredients and chemicals to various industries.

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