Crescent Energy Declines After Commencement Of Secondary Public Offering

Crescent Energy Co. (CRGY) shares are declining more than 8 percent on Wednesday morning trade after the company announced starting of its secondary public offering of 5 million Class A common stock.

The Class A common stock is being offered by Independence Energy Aggregator L.P. and Crescent will not sell and will not receive any proceeds therefrom.

Currently, shares are at $15.52, down 8.03 percent from the previous close of $16.87 on a volume of 912,148.

Quoin Pharmaceuticals Stock Surges 30% After Alliance Global Partners Set Buy Rating

Shares of Quoin Pharmaceuticals, Ltd. (QNRX) are surging over 30% on Wednesday morning after analysts at Alliance Global Partners set a “buy” rating on the stock.

QNRX is currently trading at $4.3700, up $1.0500 or 31.6265%, on the Nasdaq, on a volume of 32 million shares, far above average volume of 1.8 million. The stock opened its trading at $3.96 after closing Tuesday’s trading at $3.32. The stock has traded between $2.9400 and $372.5000 in the past 52-week range.

Quoin Pharmaceuticals, a clinical stage specialty pharmaceutical company, focuses on the development and commercialization of therapeutic products for rare and orphan diseases.

Spero Therapeutics Rises

Spero Therapeutics, Inc. (SPRO) shares are surging more than 14 percent on Wednesday morning trade, after the company, Tuesday said it is planning resubmission of NDA for Tebipenem HBr after a Type A meeting with FDA.

Currently, shares are at $1.26, up 11.50 percent from the previous close of $1.13 on a volume of 41,881,674.

HealthEquity Rises 5% As Quarterly Revenue, Annual Outlook Come In Better Than View

Shares of health information services provider HealthEquity, Inc. (HQY) are rising 5 percent on Wednesday’s trading after the company reported a 9 percent rise in revenue in the second quarter, that beat the Street estimates.

The company’s revenue rose to $206.1 million from $189.1 million a year ago. On average, 12 analysts polled by Thomson Reuters expected the company to post revenues of $203.9 million during the three-month period.

For fiscal 2023, the company expects revenues between $834 million and $844 million, which is higher than analysts estimate of $832 million for the year ahead.

Currently at $67.93, the stock has traded between $36.81 and $73.29 during the past 52 weeks.

The Best Movies and TV Shows Coming to HBO, Hulu, Apple TV+ and More in September

Every month, streaming services add movies and TV shows to its library. Here are our picks for some of September’s most promising new titles.

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By Noel Murray

Oil Futures Fall Sharply, Settle At Near 8-month Low On Demand Worries

Crude oil prices fell on Wednesday, pushing the most active crude futures contract to their lowest settlement in nearly eight months.

Despite Russia’s threats to shut off supply to the countries willing to participate in the G7’s oil price cap scheme, oil prices fell on concerns about outlook for energy demand amid rising fears of a global recession.

West Texas Intermediate Crude oil futures for October ended lower by $4.94 or about 5.7% at $81.94 a barrel, the lowest settlement since January 11.

Brent crude futures were down $4.94 or 5.31% at $87.89 a barrel a little while ago.

Rising concerns about outlook for energy demand from China due to Covid-related lockdowns, and expectations of interest rate hikes by central banks weighed on oil prices.

The Bank of Canada today raised its benchmark rates by 75 basis points. The European Central Bank, which is scheduled to announce its rate decision on Thursday, is widely expected to announce a sharp hike in rates following eurozone inflation hitting a record 9.1% in August, going high above the bank’s 2% target.

Traders also await weekly crude inventory data from the American Petroleum Institute (API) and U.S. Energy Information Administration (EIA). The API’s report is due later today, while EIA is scheduled to release its inventory data Thursday morning.

Addentax Group Down 8%

Shares of Chinese logistics services provider Addentax Group Corp. (ATXG) are down 8 percent on Wednesday’s trading continuing their down ward trend since the past few days.

The stock was impacted by news of closure of an underwritten public offering of 5,000,000 shares of its common stock at a price of $5 per share. The company’s started trading under the symbol “ATXG” on August 31.

Currently at $5.25, the stock was traded between $4.51 and $656.54 during the past 52 weeks.

Veritex Holdings Stock Slips 6% As Stephens Downgrades Stock To Equal Weight

Shares of Veritex Holdings, Inc. (VBTX) are slipping over 6% on Wednesday morning after analysts at Stephens downgraded the company’s stock from an “overweight” rating to an “equal weight” rating.

VBTX is currently trading at $27.15, down $1.85 or 6.38%, on the Nasdaq. The stock opened its trading at $28.49 after closing Tuesday’s trading at $29.00. The stock has traded between $26.85 and $45.36 in the past 52-week period.

The analysts also lowered the stock’s price target to $32 from $36.

Veritex Holdings operates as the bank holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals.

ACV Auctions Continues To Gain

ACV Auctions Inc. (ACVA) shares are gaining more than 7 percent from the previous close, continuing an upsurge since yesterday. There were no corporate announcements on the day to influence the stock movement.

Currently, shares are at $9.06, up 7.79 percent from the previous close of $8.41 on a volume of 678,012.