Despite the continued market confusion, stocks have remained in the center stage on Tuesday. The markets have been relatively quiet during these last few weeks of the summer and it has many traders confused. As one CNBC article states, “Stocks are just doing their own thing, which is why they’ve been so confusing for traders over the last few weeks.” Despite this case, many companies are gaining attention for major milestones being hit prior to the start of the school season. Companies like Rigel Pharmaceuticals Inc. (NASDAQ:RIGL), Life Clips Inc (OTCMKTS:LCLP), Skyline Medical Inc (NASDAQ:SKLN), and Progressive Care Inc (OTCMKTS:RXMD) have all gained attention in the markets for their recent announcements.
Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) announced this morning that the company has met the primary endpoint in the first of two double-blind studies in the FIT Phase 3 clinical program for the treatment of adult chronic/persistent immune thrombocytopenia. Pre market trading has been heavy as shares have seen a massive increase in trading volume prior to the open. The stock is up nearly 40% since Monday’s closing bell and the market has yet to be open for a full hour yet. The stock hasn’t seen trading levels like this since December of 2015
Life Clips Inc (OTCMKTS:LCLP) has also made headlines this morning as the stock is trading higher by roughly 3.4% at the opening bell. This morning the company announced that the company has signed an exclusive rep agreement with Retail Ready Group, LLC for distribution of its 4K action camera and Mobeego into some of the largest retailers in the world. This potentially gets the company’s products in the hands of consumers who shop at places like Home Depot, GameStop, 7-11, Lowes, and more. Since May the stock has seen prices as high as $0.76.
Skyline Medical Inc (NASDAQ:SKLN) made headlines this morning with its announcement to form a Joint Venture with Electronic On-Ramp. Through the JV, the companies would provide access to bid for $550 million in U.S. federal government funds with a focus on medical equipment for mobile operating rooms. The two companies are establishing the joint venture to be in operation by the end of the year. So far, shares of SKLN have increased in price by more than 50% in early trading with volume trending well above average.
Progressive Care Inc (OTCMKTS:RXMD) rounds out the list of newsmakers this morning. Following its announcement that the company has received permit approval for its new buildout, today Progressive Care announced that it has been granted a non-resident license in Georgia. This license will permit PharmCo to dispense traditional and compound medications to Georgia residents from its North Miami Beach facility. This puts the company’s total list of licensed states at 7, which includes Massachusetts, New Jersey, New York, Pennsylvania, Texas, Florida, and now Georgia. S. Parikh Mars, CEO, stated, “This license presents us with the ability to establish the PharmCo brand in our neighboring state.”
Original article: http://www.marketwatch.com/story/market-movers-headline-makers-on-tuesday-2016-08-30