Today’s Research Reports on Stocks to Watch: Whiting Petroleum and Synaptics
Despite downward pressure from the Energy Sector, U.S. markets rose Wednesday as investors eagerly await a trio of events, Britain’s general election, the European Central Bank’s policy meeting and testimony from former FBI Director James Comey’s in front of a Senate panel, on Thursday. The Dow Jones Industrial Average gained 0.18 percent to close at 21,173.69, up 7.14 percent year-to-date, while the S&P 500 Index gained 0.16 percent to close at 2,433.14, up 8.68 percent year-to-date.
“What we have tomorrow and next week is what is driving everything right now,” said Mark Kepner, managing director of sales and trading at Themis Trading. “Combine that with the Fed meeting next week and that’s a lot of uncertainty for the market.”
RDI Initiates Coverage on:
Whiting Petroleum Corp.
Whiting Petroleum’s shares declined 11.45 percent to close at $6.11 a share on Wednesday. The stock traded between $6.10 and $6.86 on volume of 34.58 million shares traded. Oil stocks slumped Wednesday after the U.S. Energy Information Administration reported U.S. crude inventories unexpectedly grew by nearly 3.3 million barrels last week. Crude futures declined by more than 4 percent after the inventory data was released. Whiting Petroleum’s production averaged 117,360 barrels of oil equivalent per day (BOE/d) in the first quarter 2017. Shares of Whiting Petroleum have fallen approximately 49.17 percent year-to-date.
Access RDI’s Whiting Petroleum Research Report at:
Synaptics’ shares spiked 4.57 percent to close at $60.82 a share on Wednesday. The stock traded between $57.40 and $60.96 on volume of 1.03 million shares traded. On June 1st, the company announced that Synaptics Natural ID fingerprint sensors with integrated SentryPoint technology was selected for the newest PQI My Lockey USB dongles. Shares of Synaptics have gained approximately 13.51 percent year-to-date.
“PC users today face uncertainties in privacy and personal data security, and fingerprint biometric ID is the simplest and yet complex protection mechanism one can have to safeguard their data,” said KC Tu, special assistant, PQI Product Division. “PQI is honored with the pleasure of working with Synaptics to co-create the PQI My Lockey. The My Lockey dongle offers the ultimate data protection due to special Synaptics features including unique algorithms to protect against forgery and unauthorized data access.”
Access RDI’s Synaptics Research Report at:
Our Actionable Research on Whiting Petroleum Corp. (NYSE:WLL) and Synaptics, Inc. (NASDAQ:SYNA) can be downloaded free of charge at Research Driven Investing.
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