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The Market Master’s Trading Room is open today but will be a little quiet, as we mourn the loss of JW’s stock market faithful companion, Bentley.  Although Bentley could not “legally” tell someone to buy or sell a stock, a bark or two from him when JW was digging in it gave you all the confirmation you needed.

FOCUS LIST🔎

RKLB – Up over 12% in the pre-market after reporting better than expected earnings, record revenue

BW – Up over 20% in pre after reporting better than expected earnings 

IOVA- Up over 20% in pre after reporting better than expected earnings, strong guidance

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HOTLIST🔥

RKLB – Up over 12% in the pre-market after reporting better than expected earnings, record revenue

Rocket Lab USA, Inc. (RKLB) a space company that provides launch services and space systems solutions for the space and defense industries.

In the after-hours yesterday the company reported Q2 2024 financial results.

Highlights include:

Achieved highest revenue quarter in Company history at $106 million.

Successful Electron launches for NASA, commercial constellation operators Synspective, Kineis, and the Korea Advanced Institute of Science and Technology (KAIST). Electron remains the most frequently launched small rocket globally and Electron launches have accounted for 64% of all non-SpaceX orbital U.S. launches in 2024 to date.

For the third quarter of 2024, Rocket Lab expects:

Revenue between $100 million and $105 million.

Space Systems revenue between $79 million and $84 million.

Launch Services revenue of approximately $21 million.

Adjusted EBITDA loss of $31 million to $33 million.

Basic Shares Outstanding of 498 million.

The stock traded up over 12% in the pre-market in reaction to the positive financial results.

The first target for bulls is the pre-market high at $5.71.

Beyond that, $6, $6.60, $7 and $7.50 come into play.

Below $5.71, targets to the downside are $5.50, $5.20, $5 and then a gap fill at $4.77.

BW – Up over 20% in pre after reporting better than expected earnings

Babcock & Wilcox Enterprises, Inc. (BW) together with its subsidiaries, provides energy and emissions control solutions to industrial, electrical utility, municipal, and other customers worldwide.

In the after-hours yesterday, the company reported Q2 2024 financial results.

Highlights include:

Revenue of $233.6 million, Net Income of $25.4 million, and Operating Income of $42.2 million, which exceeded expectations

Adjusted EBITDA of $23.3 million, $24.6 million excluding BrightLoopTM and ClimateBrightTM expenses, ahead of expectations

Reiterate Full Year 2024 Adjusted EBITDA target range of $105.0 million to $115.0 million, excluding BrightLoop and ClimateBright expenses

Improved balance sheet and liquidity through sale of B&W’s Denmark renewable service subsidiary for net cash proceeds of $83.5 million

Announced backlog of $472.4 million and implied backlog of $757.8 million in project opportunities

Announced total YTD bookings of $383.1 million and implied bookings of $668.5 million, a 71% increase compared to the first half of 2023

Achieved annualized cost savings of approximately $25.0 million to date related to strategic business realignment progressing toward stated target of over $30.0 million

The stock traded up over 20% in the pre-market in reaction to the results.

The $1.31 area acted as support in the pre-market and will be an important level to watch.

Above it, targets to the upside are $1.40, $1.50, $1.60, $1.65 and then the after-hours high at $1.70. Beyond that, $1.80, $2 and $2.20 come into play.

Below $1.31, targets to the downside are $1.28, $1.20 and then a gap fill at $1.11.

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IOVA- Up over 20% in pre after reporting better than expected earnings, strong guidance 

Iovance Biotherapeutics Inc. (IOVA) is a commercial-stage biotechnology company that develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States.

In the after-hours yesterday, the company reported Q2 and half year 2024 results.

Highlights include:

Strong Momentum Continues for Amtagvi™ (Lifileucel) U.S. Launch with $31.1 Million in Total 2Q24 Revenue

Total Product Revenue Guidance of $53-$55 Million for 3Q24, $160-$165 Million for FY24, and $450-$475 Million for FY25

Cash Position: As of July 24, 2024, Iovance had cash, cash equivalents, investments, and restricted cash of $449.6 million, compared to $346.3 million at December 31, 2023. The current cash position and anticipated product revenue are expected to be sufficient to fund current and planned operations, including manufacturing expansion, into early 2026.

The stock traded up over 20% in the pre-market in reaction to the positive results.

The first target to the upside is prior resistance at $10.42 with the pre-market high at $10.97.

Beyond that $12, $13 and $14 come into play.

Below $10.42, targets to the downside are $9.60, $8.80, $8.40 and then a gap fill at $7.94.

MARKET NEWS 📰

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