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FOCUS LIST🔎
KXIN – Up over 60% in the pre-market as China stocks continue their strength
XAIR – Up over 12% in pre after partnering with Healthcare Links to expand access to LungFit® PH System through group purchasing organizations and integrated delivery networks
MODV – Up over 15% in pre after announcing credit agreement amendment and cash collections update
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HOTLIST🔥
KXIN – Up over 60% in the pre-market as China stocks continue their strength
Kaixin Holdings primarily sells domestic and imported automobiles in the People’s Republic of China.
Increased stimulus plans from the Chinese government has sent large cap names such as BABA and PDD soaring. China’s central bank on Friday lowered interest rates and injected liquidity into the banking system. Large cap Chinese stocks are gapping up again this morning.
In sympathy with their large cap counterparts, Chinese small cap stocks such as KXIN, DIO and NCI are gapping higher.
KXIN is up over 60% in the pre-market this morning after the strength overnight in Chinese large caps.
The first target for bulls is the pre-market high at $0.2510.
Beyond that $0.2950, $0.3350 and $0.4250 come into play.
Below $0.2510, targets to the downside $0.21, $0.20, $0.18, $0.16, $0.14 and then a gap fill at $0.1260.
XAIR – Up over 12% in pre after partnering with Healthcare Links to expand access to LungFit® PH System through group purchasing organizations and integrated delivery networks
Beyond Air Inc. (XAIR) is a commercial-stage medical device and biopharmaceutical company that develops the Lungfit platform, a nitric oxide (NO) generator and delivery system platform. It operates through two segments, Beyond Air and Beyond Cancer.
In the pre-market this morning, the company announced entering a strategic partnership with Healthcare Links, a renowned healthcare advisory and contracting firm.
This partnership is focused on expanding access to Beyond Air’s LungFit® PH system by streamlining entry into Group Purchasing Organizations (GPOs) and Integrated Delivery Networks (IDNs) across the United States.
With Healthcare Links’ expertise in facilitating relationships and contracts with GPOs and IDNs, this partnership will help fast-track the availability of LungFit PH to a larger network of hospitals and healthcare providers.
The stock traded up over 12% in the pre-market in reaction to the news.
The first target for bulls is the pre-market high at $0.3669.
Beyond that, $0.38, $0.40, $0.42, $0.44, $0.46 and $0.50 come into play.
Below $0.3669, targets to the downside are $0.34, $0.33, $0.31 and then $0.30.
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MODV – Up over 15% in pre after announcing credit agreement amendment and cash collections update
ModivCare Inc. (MODV) is a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions for public and private payors and their members.
In the after-hours yesterday, the company announced that it has amended its Credit Agreement, dated February 3, 2022 (as amended to date, the “Credit Agreement”), with JPMorgan Chase Bank, N.A., as administrative agent, along with other key lenders.
Highlights Include:
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Total Net Leverage Ratio Covenant: Increased for the quarter ended September 30, 2024, to 6.50x from 5.25x.
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Minimum Interest Coverage Ratio Covenant: Reduced for the quarter ended September 30, 2024, to 2.00x from 2.75x.
This amendment ensures in advance that the Company will maintain its compliance with all of its covenants under the Credit Agreement for the Company’s last completed fiscal quarter. In consideration, the Company has agreed to increase its interest rate margin by 25 basis points until it delivers the required financial statements and compliance certificate for the fiscal year ending December 31, 2024.
The Company also announced that it has successfully collected all of the approximately $60 million in contract receivables that were previously reported as delayed.
The stock traded up over 15% in the pre-market in reaction to the news.
The first target for bulls is the pre-market high at $17.61.
Beyond that, $19, $20 and $22 come into play.
Below $17.61, targets to the downside are $16, $14.80 and then a gap fill at $14.48.
MARKET NEWS 📰
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