Stock Alert: Vivint Solar Shares Hit New 52-Week High

Stock Alert: Progenity Rises 8%

Shares of Progenity Inc. (PROG) are higher by more than 8 percent or $0.63 in Monday’s morning trade at $8.34 despite the biotechnology company reporting a wider loss for the second quarter.

Friday, Progenity reported that its second-quarter net loss attributable to common stockholders widened to $53.05 million or $6.11 per share from $16.41 million or $3.34 per share in the year-ago period. Revenue for the quarter fell to $17.27 million from $57.23 million in the year-ago period.

Progenity also said its affiliate lab, Avero Diagnostics, which offers molecular infectious disease testing, launched a COVID-19 molecular test to help service the widespread unmet need in the Southeast U.S., and is evaluating opportunities to offer the COVID-19 molecular test more broadly across the country.

Progenity has traded in a range of $7.63 to $15.92 in the past 52 weeks.

US STOCKS SNAPSHOT-Wall Street kicks off big retail earnings week on high note

Aug 17 (Reuters) – U.S. stocks opened higher on Monday with the S&P 500 inching closer to a record high as retailers prepared to wind down a better-than-feared quarterly earnings season.

The Dow Jones Industrial Average rose 39.03 points, or 0.14%, at the open to 27,970.05. The S&P 500 opened higher by 8.01 points, or 0.24%, at 3,380.86, while the Nasdaq Composite gained 63.94 points, or 0.58%, to 11,083.25 at the opening bell. (Reporting by Medha Singh in Bengaluru; Editing by Maju Samuel)

U.S. Business Inventories Slump Slightly Less Than Expected In June

Business inventories in the U.S. showed a continued decrease in the month of June, according to a report released by the Commerce Department on Friday.

The Commerce Department said business inventories slumped by 1.1 percent in June after tumbling by 2.3 percent in May. Economists had expected business inventories to decline by 1.2 percent.

Retail inventories led the way lower, plunging by 2.6 percent in June after plummeting by 6.2 percent in the previous month.

The report said wholesale inventories also slid by 1.4 percent in June after falling by 1.2 percent in May, while manufacturing inventories rose by 0.6 percent after inching up by 0.2 percent.

Meanwhile, the Commerce Department said business sales soared by 8.4 percent in June after surging up by 8.5 percent in May.

Manufacturing sales skyrocketed by 9.8 percent, while wholesale and retail sales spiked by 8.8 percent and 6.8 percent, respectively.

With sales jumping and inventories slumping, the total business inventories/sales ratio dropped to 1.37 in June from 1.50 in May.

Stock Alert: Barrick Gold Near 52-week High On News Of Warren Buffets’ Investment

Shares of Barrick Gold Corporation (GOLD) are climbing more than 10% Monday morning on the news of Warren Buffets’ investment in the company.

Reports said Buffet’s Berkshire took a position of 20.9 million shares worth $563.6 million in one of the world’s largest mining companies, Barrick Gold in the second quarter.

Barrick stock nearly doubled from the beginning of the year, benefited from the surge in the gold price.

The stock is currently trading at $29.52, close to its 52-week high of $30.69.

Financier Grandave Capital Strikes Three-Film Deal With Indie Producer Lux III Pictures

EXCLUSIVE: San Diego and LA-based based financier Grandave Capital has struck a three-film finance deal with Patrick Perez Vidauri and Christina Nava’s independent production company Lux III Pictures.

The Lux III deal got underway with low-budget romance pic In Other Words, which is being sold by Grandave’s sales arm Grandave International. Grandave will also finance and sell Lux III feature Like. Share. Kill, which will be helmed by Vidauri (Lola’s Love Shack) who wrote the script with Nava. The film is currently casting.

As we previously revealed, Grandave launched this summer with an early investment in Paul Schrader’s Oscar Isaac thriller The Card Counter. The company’s Latinx-oriented production arm is Broken English Productions.

Grandave’s investments also include Omar Chaparro starrer 7th And Union while Grandave International has picked up Venice Days title My Tender Matador for wold sales. The company will be prioritising a handful of Latinx projects with part of its budget.

“Lux III Pictures’ business model is smart and profitable. This three-picture deal will not only allow us to increase Latinx visibility and awareness but establish Grandave Latinx market shares,” said Stanley Preschutti, Grandave Capital president.

Preschutti was previously at U.S. film sales firm Double Dutch International.

India’s GDP to shrink 16.5% in Q1: SBI report

Earlier in May, Ecowrap had estimated Q1 GDP contraction at over 20% and now pegs it lower

State Bank of India’s research report Ecowrap expects GDP to contract by 16.5% in the first quarter of the current fiscal.

Earlier in May, Ecowrap had estimated Q1 GDP contraction at over 20% and now pegs it lower, “though with the relevant caveats in the current uncertain scenario”, as per the report released on Monday.

Degrowth in corporate GVA had been significantly better than revenue degrowth in Q1 as far as the results of listed companies were concerned, it said.

The results indicate a more than 25% slump in topline. However, the drop in corporate gross value added (GVA) was only 14.1%, the research team wrote.

Stock Alert: Vivint Solar Shares Hit New 52-Week High

Shares of Vivint Solar Inc. (VSLR) have been trading in the range of $3.17 – $27.00 for the past one year, and hit a 52-week high Monday morning. VSLR is currently trading at $25.96, up 98 cents or 3.92% on market cap of 3.292 billion. Trading volume is rising over 1.35 million versus an average volume of 2.80 million shares.

There is no company specific news that could be attributed to today’s stock movement.