Watchlist 11/09/2017

STOCKS IN THIS WATCHLIST ARE GENERALLY GEARED TOWARDS SWING TRADING BUT CAN ALSO BE USED FOR DAY OR LONG TRADES.  STOCKS ARE EITHER TRENDING TOWARDS A BULLISH TECHNICAL CHART OR CURRENTLY IN ONE.  ANY TECHNICAL ANALYSIS IS PROVIDED IN THE ACCOMPANYING CHARTS.  PLEASE DO YOUR OWN DUE DILIGENCE BEFORE INVESTING IN THESE STOCKS. (The Shares Float is based on figures from FinViz.Com or wsj.com).

Stocks highlighted in this watchlist include: $OTIC, $INFN, $IVC

OTIC: Float of 30.22 million shares with 3.31% short.  The company reported a loss to Sept 30, 2017 on Wednesday but also issued a separate release today announcing positive results from the AVERTS-2 Phase 3 trial of OTIVIDEXä in patients with Ménière’s disease.  

  • The clinical trial achieved its primary endpoint of count of definitive vertigo days (DVD) by Poisson Regression analysis in Month 3 for OTIVIDEX vs. placebo (p value = 0.029) based on analysis of all 174 patients enrolled in the trial.
  • The OTIVIDEX group demonstrated a 6.2 day reduction in the mean reported number of DVD from baseline to Month 3 with a 2.5 day mean difference between OTIVIDEX and placebo in Month 3. 
  • For subjects who completed daily diaries through Month 3 (n=105), there was a 68% reduction in vertigo frequency from baseline to Month 3 in the OTIVIDEX group vs. 40% for placebo.

Up After Hours to $5.45 (95%).   Gap down in late August was becasue the company noted that Phase 3 development was suspended following failure of AVERTS-1 trial. However, today the company announced  that the trial actually met the primary endpoint. 

Be ready, it could move considerably higher next 2-3 days.  Wait for confirmation. Need big volume.

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INFN: Float of 144.8 million shares with 13.74% short. 
The company reported a Q3 loss of 25 cents per share. Losses, adjusted for one-time gains and costs, came to 11 cents per share.  The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 16 cents per share.  It posted revenue of $192.6 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $190.3 million.

Infinera also announced it is implementing a plan to restructure its worldwide operations in order to reduce its expenses and establish a more cost-efficient structure that better aligns its operations with its long-term strategies. As part of this restructuring plan, Infinera will reduce headcount, rationalize certain products and programs, and close a remote R&D  facility.  Infinera anticipates annual savings from the restructuring to be approximately $40.0 million, compared to what the projected run-rate of expenses for fiscal 2018 would have been prior to the restructuring.

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IVC: Float of 32.62 million shares with 28.07% short.  The company reported Q3 earnings.  

  • Revenue decreased 6% to $251 million. However, that was much better than the $240 million that Wall Street had projected.
  • Gross margin increased 80 basis points to 28.2%.
  • Free cash flow was negative $4.8 million.
  • On a GAAP basis, net loss was $18.6 million, or $0.57 per share.
  • Adjusted net loss was $13.4 million, or $0.41 per share. That was two cents worse than expected.

While management doesn't offer guidance, it stated that North American home medical equipment sales should "continue to improve sequentially in the fourth quarter."

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