Stocks In News Thursday Morning (HLRTF, HOOK, MULN, GOSS)
The Dow Jones Industrial Average added 308 points, or 1%. The S&P 500 and the Nasdaq Composite gained 0.7% and 0.9%, respectively.
Several strong earnings reports were supporting the market, with AT&T and IBM rising 9% and 4.5%, respectively, after beating estimates on the top and bottom lines for their most recent quarter.
Mullen Automotive, Inc. (NASDAQ:MULN) shares are up another 13% today. The stock is surging after said the U.S. Bankruptcy Court approved its acquisition of electric vehicle company ELMS’ (Electric Last Mile Solutions) assets in an all-cash purchase.
HOOKIPA Pharma Inc. (HOOK) is currently trading at $1.5175 up +0.3075 (+25.4132%). HOOK announced today a strategic collaboration and license agreement with Roche to develop HB-700 for KRAS-mutated cancers and a second undisclosed novel arenaviral immunotherapy. This represents HOOKIPA’s first oncology licensing collaboration
A small cap company that we would like to draw your attention to is Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF). HLRTF is a clean technology company developing transformative power conversion technologies and control system solutions for next-generation electrical systems, announces it has signed a memorandum of understanding (MOU) with a global Tier 1 automotive leader in mobility innovation. According to the terms of the MOU, Hillcrest and the supplier will collaborate to integrate an optimized version of Hillcrest’s 250-kilowatt (kW), 800-Volt (V) inverter into a future powertrain system. The joint project is expected to run through 2023.
“Our partner is an early leader in electrification and has a shared understanding that efficiency is at the core of our electrified future,” said Hillcrest CEO Don Currie. “We are thrilled to collaborate on a project that could become the basis for many future products.” Read more at https://finance.yahoo.com/news/hillcrest-energy-technologies-partners-global-120000214.html
Another stock that is gaining traction today is GOSS. Analyst Paul Choi initiated coverage of Gossamer Bio (NASDAQ:GOSS) with a buy rating and a $22 price target, calling attention to upcoming results from the company’s second phase trial of its seralutinib drug as a treatment for pulmonary arterial hypertension, a type of high blood pressure that can be life-threatening.
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