PepsiCo Inc [PEP] - Last Close: $162.59
Pepsi is trending after an early-morning earnings release.
The consumer staples stock released its Q3 earnings results at 6 a.m. Eastern, and the numbers are getting a good reception in the market.
Pepsi's Q3 EPS of $1.97 beat consensus estimates of $1.84 by about 7.0% per share.
Revenues came in at $21.97 billion in Q3, which easily topped The Street's $20.82 billion estimate.
Pepsi also hiked its full-year 2022 guidance to $6.73 per share in response to the strong quarter, topping analysts' full-year EPS target of $6.70.
PEP is one of the morning's top large-cap stocks with a 3.0% gain on active trading volume.
My Take: PEP is looking good. It's got a solid P/E, and its chart shows an up-trend could be in place. It also pays a 2.8% dividend, and consumer staples stocks have a history of performing well during economic downturns. I like PEP.
Sellas Life Sciences [SLS] - Last Close: $1.80
Sellas Life just passed a pivotal clinical milestone.
The late-stage biopharma firm announced on Tuesday that its subsidiary, 3D Medicine, has dosed its first patient in a Phase 1 trial for its lead drug candidate galinpepimut-S in China.
The trial will include a total of 15 patients with various types of cancers, including leukemia, myeloma, and non-Hodgkin's lymphoma.
3D Medicines is Sellas Life Sciences' licensee for the development and commercialization of the product candidate in China, Hong Kong, Macau and Taiwan.
SLS is one of this morning's top performers with a 36.1% gain.
My Take: SLS posted a small loss yesterday when this news broke, but the market seems to have changed its mind. This stock tends to follow some odd trading patterns, and it's still in a downtrend, but the start of the drug trial is legitimate good news for the company.
Code Chain New Continent Ltd [CCNC] - Last Close: $0.165
Code Chain is heating up after releasing its annual report.
The IoT company released its Form 8K filing after Tuesday's closing bell, and the filing sparked an after-hours rally that's carrying into the premarket.
CCNC lost 13.6% on Tuesday, but shares pivoted after the after-hours release.
Unfortunately, the Edgar SEC Filing was experiencing issues at the time of writing, so I was unable to access the specifics.
However, the report has sent shares of CCNC soaring. The stock is up 21.1% this morning on high trading volume.
My Take: Online chatter indicates this move could be the result of a coordinated short squeeze, but CCNC is showing a very low short percentage. However, it's a very tiny stock with a market cap of only $7 million, so there could be some targeted price manipulation in play here.
Siyata Mobile [SYTA] - Last Close: $0.1291
Shares of Siyata Mobile are rebounding hard after a recent spat of losses.
The enterprise cellular communications company announced plans for a $4 million registered offering via a private institutional placement on Monday, and shares tumbled.
Siyata agreed to sell about 15.8 million shares for $0.23 per share and 1.6 million prefunded warrants exercisable at the same price.
Net proceeds will go towards general corporate and working capital purposes, according to a Siyata Mobile statement.
The news sparked a two-day selloff in SYTA, but the move appears to have been overdone, as shares are rebounding hard in today's premarket.
SYTA is one of this morning's most actively-traded stocks, and it's showing a 13.7% gain.
My Take: This seems like a natural rebound after an overdone rally, but I don't think it will last forever. I'm expecting SYTA to resume its downtrend soon, so make sure you don't get caught on the wrong side of this one.
