US equities are on track for a mixed performance this week. S&P futures are down 0.1% after indexes closed down in yesterday's session.
Chinese stocks appear to be enjoying a bounce in early trading.
Oil down, gold down and Bitcoin (BTC) down.
Here are some of today’s trending stocks:
Corsair Gaming (NASDAQ: CRSR)
Corsair Gaming (NASDAQ: CRSR) stock is down over 14% in pre-market trading. Investors are responding to disappointing preliminary Q1 results.
Corsair reported its preliminary unaudited revenue is approximately $380m, and preliminary unaudited adjusted EBITDA is expected to be between $14m and $15m for Q1 ended March 31, 2022.
CEO Andy Paul struck a more positive tone,
We are pleased that our preliminary Q1 revenue increased 23% over the fiscal year first quarter prior to shelter at home, which was Q1 2020. This continues to demonstrate the long-term growth for gaming products… We were not expecting to show growth over the most recent Q1 2021 since that quarter contained stimulus checks and pent-up demand due to product shortages. Having said that, our Q1 2022 revenue was lower than we expected,
Corsair will release its first-quarter 2022 results and financial outlook after the NASDAQ close on May 5, 2022.
Moving Image Technologies Inc (NYSEAMERICAN: MITQ)
Leading digital cinema technology company Moving Image Technologies Inc (NYSEAMERICAN: MITQ) announced a strategic partnership with SNDBX to bring the full theatre experience to the gaming and e-Sports market.
SNDBX is a leading promoter and manager of amateur gaming and e-Sports leagues hosted in cinema auditoriums. Gamers in the SNDBX enjoy a fantastic gaming experience with the additions of a massive screen, excellent audio and unique in-person-social encounters. Based in Vero Beach, Florida, SNDBX has lined up hundreds of movie theater locations to participate in gaming across the entire US.
Frank Tees, VP of technical sales support at MiT, said:
Our custom-made, integrated mobile cart is the only product available of this nature and will allow SNDBX to quickly deploy competitive e-Sports technology in support of its cinema strategy.
In yesterday’s session, MITQ stock closed down nearly 5%, but it’s up over 35% in pre-market trading in response to the partnership announcement.
Camber Energy (NYSEAMERICAN: CEI)
Investors are discussing Camber Energy (NYSEAMERICAN: CEI) on Friday after the company’s stock fell by -10.66% during Thursday's session to settle at $0.91.
The independent oil and natural gas company is a favorite among day traders and social media stock pundits. But a delay in its filings being released has thoroughly disappointed investors banking on a juicy update.
President & CEO of Camber Energy & Viking Energy (OTCMKTS: VKIN) James Doris tweeted yesterday:
Not concerned at all about meeting the ultimate deadline but unfortunately we won't hit my goal of being done tomorrow. There is more than one statement to complete and the objective is to file everything at the same time. $VKIN is current, $CEI is next.
— James Doris (@JamesDoris19) April 21, 2022
CEI stock is now down 8.4% in pre-market trading. The $328m company has seen its share price fluctuate wildly in the past year.
Intuitive Surgical (NASDAQ: ISRG)
The Intuitive Surgical (NASDAQ: ISRG) share price is down 4.6% in pre-market trading. The surgical robotics company reported its Q1 2022 financial results.
Total Q1 revenue is $1.49bn (up 15% Y/Y)
Leasing represented 35% of Q1 placements (down from 37% Y/Y)
Health And Procedure Demand
In Q1, procedure demand for ISRG products was healthy, recovering where COVID receded.
Drivers of procedure performance included general surgery in the US and non-urology procedures outside of the US.
COVID-19 posed a challenge, including staffing pressure, component and raw material availability and logistic delays
DA VINCI PROCEDURES
In Q1 2022, da Vinci procedures grew 19% compared to Q1 2021
The use of da Vinci in general surgery in the United States grew nicely, led by bariatric procedures, cholecystectomy, hernia repair, and rectal surgery
Outside the United States, the UK, China, Japan, Germany and Italy grew above its quarterly average growth rate. Still, COVID slowdowns began to show later in the quarter, particularly in China and Korea.
Vallon Pharmaceuticals Inc (NASDAQ: VLON)
Vallon Pharmaceuticals Inc (NASDAQ: VLON) is soaring in pre-market trading, with its share price up over 100%. Before this jump, VLON stock closed down by -48.4% in the past month.
The reason for today’s optimism is Vallon announced it has engaged Ladenburg Thalmann & Co. to evaluate strategic alternatives for the Company to maximize shareholder value. This could include exploring the potential for a possible merger, business combination, investment into the Company, or a purchase, license or other acquisition of assets.
Last month Vallon's abuse-resistant version of Adderall failed a clinical trial, causing the share price to plunge.
Now the company plans to continue assessing the best path forward for ADAIR, its novel abuse-deterrent formulation of amphetamine for the treatment of attention deficit hyperactivity disorder (ADHD) and narcolepsy, and ADMIR, its novel abuse-deterrent formulation of methylphenidate (Ritalin).
