With the Fed Minutes in toe, Wall Street is at ease once again. Warren and her reserve committee have decided, yet again, to leave rates right where they are for now. They highlighted the increasing economic growth but also cited that we may not exactly be quite there when it comes to the ability to increase interest rates from where they rest today. This saw relatively flat sentiment in the markets if not slightly green by the end of the day with the Dow closing up roughly 15 points and the S&P 500 up just under 3 points. As this was the case, several other equities saw massive increases in stock price and volume during the Wednesday morning session. These include VOXX International Corp (NASDAQ:VOXX), HTG Molecular Diagnostics Inc (NASDAQ:HTGM), and FBEC Worldwide Inc (OTCMKTS:FBEC)
VOXX International Corp (NASDAQ:VOXX), for instance, is a manufacturer and distributor of automotive and consumer lifestyle products. The company recently announced that it has reported the second fiscal quarter’s financial results ending August 31, 2016. “While our Automotive segment is expected to be down slightly, most of it is timing related and we have new programs slated to begin towards the end of our Fiscal year. We were also awarded another $45 million in new contracts during the second quarter, bringing the total value of OEM awards received over the past three quarters to approximately $380 million,” stated the company’s President and CEO Pat Lavelle. Realizing the largest increases in gross margins for the second fiscal quarter 2017 were the company’s Automotive and Premium audio segments, increasing by 31.3% and 32.9% respectively. Shares increased by as much as 54.9% from Tuesday’s closing levels.
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HTG Molecular Diagnostics Inc (NASDAQ:HTGM) provides instruments and reagents for molecular profiling applications. The company announced on Tuesday that it has entered into a broad companion diagnostics master agreement with Merck KGaA, Darmstadt, Germany with initial product development program agreements utilizing the HTG EdgeSeq DLBCL Cell of Origin Assay in the Merck KGaA Darmstadt, Germany, M7583, selective and irreversible inhibitor of Bruton’s Tyrosine Kinase, program. If this sounds completely foreign to you, feel free to look at the company’s website as they’ve been involved with in depth research, biomarkers, diagnostics, and transitional medicine for years. After closing at $2.26 on Tuesday, share price and volume spike to near record highs for the year.
FBEC Worldwide Inc (OTCMKTS:FBEC) continues to see well above average trading volume and price volatility this week. After spiking to highs of $0.0505 last Friday, the stock marked its 2016 high. Through the week it has remaining in a state of aggressive trading momentum. Volume has been at an above average pace ever since the beginning of September right around the time when FBEC announced that it had received a purchase order from a distribution company for 35,000 units of WolfShot ™. Most recently the company announced that it has sold out on Amazon.com and received a follow-up order for double the previous amount.
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