The markets are up this morning driven by positive news on the economy and a possible COVID-19 vaccine. Over the weekend, president Trump announced that he had signed an executive order to help save the economy.
This follows an impasse between democrats and republicans on the same. With the clarity this offers and the safeguards it creates in the economy, positive sentiment could rise in the market in the near-term. Market sentiment is also driven by the growing expectation of a COVID-19 vaccine within the year, or in early 2021. According to Goldman Sachs analysts, there could be one vaccine in distribution by end of Q1 of 2021. In this environment of increased optimism, a number of stocks look poised for a good start to the day. Some of the stocks that are highly bullish ahead of markets opening are as below:
Trevena Inc [NASDAQ: TRVN]
Trevena Inc is a top performer pre-market and is up over 50%. This follows the company’s announcement that it had got FDA approval for OLINVYK in the management of acute pain that is so severe that it needs intravenous opioids. The company added that the newly approved treatment will be available in the market in 3 months. Commenting on the approval, the CEO Carrie L. Bourdow has stated that OLINVYK’s approval was a huge step for Trevana in its goal of changing cutting-edge science into therapies that could help patients. He added that they would be working fast in the goal of giving patients better treatment options.
Majesco [NASDAQ: MJCO]
This is another top performer this morning, and is up by 20%. This follows news that Thomas Bravo had raised its bid for the company to $729 million. On Saturday, Thomas Bravo, a private equity firm stated that it had amended its bid to $16 a share, up from its earlier bid of $13.10. The bid comes a few days after ICE agreed on a deal to buy Thomas Bravo’s Ellie Mae. The improved deal could see the value of this stock rise in the day to reflect the improved deal.
Bridgeline Digital Inc [NASDAQ: BLIIN]
Bridgeline Digital is another top performer pre-market and is up by 10%. This follows the selection of its Celebros Search by a big lighting company for their site search solution. Commenting on the deal, CEO Ari Khan stated that Celebros search is a powerful tool that combines eCommerce tools to help drive sales online. Khan added that the search makes use of machine learning to understand consumer needs and give accurate search suggestions. Give that the deal could improve the company’s bottom-line, it is likely to drive positive sentiment in the day.