With some signs that the red hot market may be slowing down amidst geopolitical turmoil, the NewsQuantified system continues to locate strong plays each market session.
Our top performers today all registered double digit gains in under 24 hours, on a day when the market was mostly flat, a sign that news-analytics can still find promising plays as the market cools off.
IDSA is our top performer from the session, gaining 40% in under 24-hours. The gains stemmed from financial results demonstrating that IDSA is successfully consolidating its cash flows after nagging operating losses.
IDSA deals in scrap metal, acquiring iron and other metals from recycling sources for reprocessing. They also purchase scrapped autos for used in the parts resale market.
Recent results reflect improvements in metal prices and on-lining of additional processing machinery by IDSA. Investors seem to believe these improvements appear likely to drive more stable revenues, piling into the stock on the news.
Luna Innovations announced the sale of a new high-speed optical receivers tech on Wednesday, driving the stock to gains of over 30%.
Luna, which develops high tech solutions for the aerospace, automotive, energy, defense, and telecommunications industries, spun off all assets related to its optical receivers to MACOM Tech Holdings for $33.5 million. Luna acquired the tech through its acquisition of Advanced Photonix in 2015.
MACOM is expected to marketize the technology in data center applications, with Luna committing the cash to expand its fiber optic sensor line
Skyline Medical jumped over 35% on confirmation of a merger with CytoBiosciences, a privately held biopharma company. Skyline is best known for making the Streamline System for automated, direct-to-drain medical fluid disposal. They will acquire Cyto’s stock, though both operations will continue in their current locations.
The move expands potential revenue sources in growth markets, broadening Skyline’s exposure and providing valuable resources to clear a multimillion dollar backlog at Cyto.
Diverse Plays, Big Gains: All in a single news day.
A powerful news analytics platform like NewsQuantified not only makes it easy to track the news, but to quickly compare news events with key financial information.
Today’s dramatic gains make the power of this news-based trading approach readily apparent. Earnings reports, tech sales, and mergers could not represent more disparate market events.
Yet they were all at the top of a single easy to use dashboard in the NewsQuantified platform.
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