The markets are calm this morning, but they are largely positive. Investors are awaiting news from the ongoing Federal Reserve policy meeting. Part of the calm stems from the fact that the markets are not expecting much of a change from the Fed’s earlier stance on its inflation policy. Earlier, the Federal Reserve chairman Jerome Powell had stated that the Fed was implementing a new policy that it’s calling Average Inflation Targeting. Through this policy, the Federal Reserve is ready to allow prices to rise above the 2% target for some time, and use this to compensate for when inflation has to run below the targeted levels for extended periods. Since there are no expectations of a change from this stance from the current meeting, it has not created any kind of volatility in the markets. Nonetheless, the momentum is largely positive at the moment. The markets are still riding on the increased possibility of a COVID -19 vaccine coming out before the end of the year. This would help drive up the economy to match the momentum that has been experienced in the equity markets over the last 5 months during the pandemic. Despite the relative calmness in the markets, there are stocks that are gaining faster than the overall market. Some of the best-performing stocks today ahead of markets opening are as below:
Tiziana Life Sciences PLC [TLSA]
Tiziana Life Sciences PLC is a top gainer this morning and is up by over 10% and gaining. This follows the company’s announcement that following a strategic review, it was demerging its StemPrintER and SPARE genomics business into a different listed company, called Accustem. The company stated the move would allow Accustem to commercialize the StemPrintER technology with cash of about a million pounds. It’s a move that unlocks value for the company’s shareholders.
Eastman Kodak [NYSE: KODK]
Eastman Kodak is another top gainer this morning and is up by over 50%. This follows the company’s announcement that it was actively addressing allegations that it had mishandled the stock option grants for its CEO just before it announced the loan awarded by the U.S government. The company has stated that it had agreed to act on a report on this process, and that includes a reorganization of the board.
Myomo Inc [NYSE: MYO]
Myomo Inc is a top performer this morning and is up by over 40%. This follows the company’s announcement that it had been certified as a Medicare provider. This will enable the company to bill Medicare directly when delivering its services in Washington DC, and in 39 States.