Today's Research Reports on Stocks to Watch: Conatus Pharmaceuticals and Sonus Networks
NEW YORK, NY / ACCESSWIRE / April 27, 2017 / The major indexes failed to hold onto early gains Wednesday as President Trump released the outline of his tax-reform plan. The Dow Jones Industrial Average hit a high of 21,070.90 before settling to close at 20,975.09, down 0.10 percent, while the S&P 500 Index touched a high of 2,398.16 before settling to close at 2,387.45, down 0.05 percent. As of Wednesday, approximately 77 percent of the 181 S&P 500 companies that have reported earnings have topped expectations, according to data from The Earnings Scout.
"The discussion around the tax plan is a positive for the market," said John Conlon, Chief Investment Officer at People's United Wealth Management. Conlon added, "I don't think the market is excited; I think it takes some pressure off the market, but there are still questions about some of the details."
RDI Initiates Coverage on:
Conatus Pharmaceuticals Inc.
https://ub.rdinvesting.com/news/?ticker=CNAT
Sonus Networks, Inc.
https://ub.rdinvesting.com/news/?ticker=SONS
Conatus Pharmaceuticals' shares spiked 9.84 percent to close at $8.26 a share on Wednesday. The stock traded between $7.54 and $8.47 on volume of 1.68 million shares traded. On April 21st, the company announced two posters co-authored by Conatus employees were presented today at The International Liver Congress 2017, the Annual Meeting of the European Association for the Study of the Liver (EASL) in Amsterdam, The Netherlands. Conatus' lead compound, Emricasan, is being developed for the treatment of patients with chronic liver disease. In February 2016, the FDA granted a Fast Track designation to the Emricasan development program for the treatment of liver cirrhosis caused by NASH. Shares of Conatus Pharmaceuticals have gained approximately 56.74 percent year-to-date.
Access RDI's Conatus Pharmaceuticals Research Report at:
https://ub.rdinvesting.com/news/?ticker=CNAT
Sonus Networks' shares surged 16.12 percent to close at $7.85 a share on Wednesday. The stock traded between $6.86 and $7.91 on volume of 2.18 million shares traded. The company reported total revenues were $53.4 million for the first quarter of 2017, a decrease of 9.8 percent when compared to revenue of $59.2 million reported in the same quarter last year but above analysts' estimates of $52.1 million, according to Zacks Investment Research. Non-GAAP loss per share was $0.09 for the first quarter, which also topped analysts' estimates of a Non-GAAP loss per share of $0.13. The company expects revenue of about $54 million and Non-GAAP loss of $0.10 a share in the second quarter of 2017. For the fiscal year 2017, the company expects Non-GAAP net income of about $0.26 a share. Shares of Sonus Networks have gained approximately 24.6 percent year-to-date.
"We are pleased with our first quarter 2017 financial results, which were slightly better than our previously provided guidance," said Ray Dolan, President and Chief Executive Officer. "We continue to make good progress on our technology investments, with many new products released this past quarter coupled with several strategic customer wins."
Access RDI's Sonus Networks Research Report at:
https://ub.rdinvesting.com/news/?ticker=SONS
Our Actionable Research on Conatus Pharmaceuticals Inc. (NASDAQ: CNAT) and Sonus Networks, Inc. (NASDAQ: SONS) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
