US equities are primarily flat in early trading after finishing slightly up in Monday's session. Acquisitions and earnings news is boosting some of the trending stocks we've got featured today.
Oil down, gold down, and Bitcoin (BTC) up.
Here are some of today’s trending stocks:
Toughbuilt Industries Inc (NASDAQ: TBLT)
Toughbuilt Industries Inc (NASDAQ: TBLT) is up 47% in early trading today after releasing record financial results. Its earnings reported for Q4 and full-year 2021 showed impressive growth.
Record Q4 revenue of $24.6m, or 105% Y/Y growth.
Record full-year revenue of $70m, or 77.6% Y/Y growth.
The Toughbuilt brand offers a selection of quality products for construction professionals. This includes cliptech tool belts, pouches and bags, bags and totes, business organization, knee pads, miter saw stands, and sawhorses.
Michael Panosian, ToughBuilt’s CEO, commented,
We closed 2021 with record sales of $70 million, in line with our expectations. Our current product lines and our newly launched innovations continue to enjoy significant traction with our retailer partners and end users. In 2022, we expect to launch 5-10 new product lines and continue to expand our global distribution.
York Harbour Metals Inc (OTCMKTS: YORKF)
Today, York Harbour Metals Inc (OTCMKTS: YORKF) stock is up 19% in early trading. The company released an update on the Phase 3 diamond drilling program at its York Harbour Copper-Zinc Project in Newfoundland.
Phase 3 Exploration Highlights
Completed 28 NQ-size diamond drill holes totaling 4,980 meters.
66 diamond drill holes for a total of 10,764 meters were completed since July 24th, 2021.
Long delays at the assay laboratories.
Analytical and assay results from the phase 3 drilling program are expected shortly.
All Phase 1 and 2 drill core sample results have been reported.
Encountered multiple zones of copper-and zinc-rich mineralization with attendant silver and cobalt within the Main Mine Area.
Phase 3 drilling results, based upon the visually observed VMS mineralization, will both confirm the earlier drilling results and extend the drill indicated mineralization both along strike and downdip.
Halliburton Company (NYSE: HAL)
Despite an earnings beat, Halliburton Company (NYSE: HAL) is down 3% in pre-market trading. The HAL share price may be suppressed by the WTI oil price, which is down slightly. But with war raging on, volatility is to be expected. Investors were expecting an earnings beat for the oil and gas company as buoyant oil and gas prices have boosted margins.
Q1 2022
Net Income: $263m
Reported net income of $0.29 per diluted share
Adjusted net income: $314m
Adjusted net income of $0.35 per diluted share
Total Revenue: $4.3bn
Q1 2021
Net Income: $170m
Reported net income of $0.19 per diluted share
Total Revenue: $3.5bn
American Campus Communities, Inc. (NYSE: ACC)
American Campus Communities, Inc. (NYSE: ACC) is trending today after announcing a $12.8bn transaction with Blackstone Funds. The ACC share price is up 13% in pre-market trading, bringing it in line with the offer.
ACC is the largest developer, owner and manager of high-quality student housing communities in the United States. It has been publicly traded for 18 years and will now join the world’s largest alternative asset manager.
Blackstone Core+ perpetual capital vehicles, primarily comprised of Blackstone Real Estate Income Trust, Inc., alongside Blackstone Property Partners, will acquire all outstanding shares of common stock of ACC for $65.47 per fully diluted share in an all-cash transaction valued at approximately $12.8bn, including the assumption of debt.
Checkmate Pharmaceuticals Inc (NYSE: CMPI)
CMPI stock is up over 327% in pre-market trading to $10.38. That’s because Regeneron (NASDAQ: REGN) has announced its intention to acquire Checkmate Pharmaceuticals Inc (NYSE: CMPI) in a $250m all-cash deal at $10.50 per share. This will complement Regeneron's portfolio of diverse and combinable immuno-oncology candidates.
Vidutolimod is CMPI’s leading investigational candidate for fighting cancer. Vidutolimod is currently being studied in combination with other agents for melanoma, non-melanoma skin cancers, and head and neck cancer.
Alan Bash, President and CEO of Checkmate, said:
We are thrilled that Checkmate will become part of Regeneron, a biotechnology leader that shares our deep appreciation for science, hunger for ground-breaking discoveries and commitment to helping patients defeat cancer,
