U.S crude oil prices

U.S crude oil prices rebounded on Friday, after a sharp drop on the prior day. Investors have reacted positively to the overall landscape of shrinking crude exports from Iran, strong global demand, and low U.S. inventories.  U.S. crude oil futures (/CL) rose 0.6% on Friday to $68.99,  and posted a 2% gain for the week.  Last Wednesday, the Energy Information Administration (EIA) reported that U.S. crude oil inventories dropped by 5.3 million barrels the prior week to their lowest level since 2015.

Adobe (ADBE)

Adobe  (ADBE) – Picturesque! –Software maker, Adobe saw $2.29 billion in revenue generated over the last quarter which was a 24% jump from the same time last year. Net income topped $666 million which was well ahead of analyst estimates.  A major shift from product purchases to a subscription model has helped to accelerate growth over the past few years. Shares are currently trading near yesterday’s close despite a projected market maker move of =/- $9.00 and several analyst price target raises overnight. 

Progenics Pharmaceuticals Inc. (PGNX)

Progenics Pharmaceuticals Inc. (PGNX) shares fell in the extended session Wednesday after the cancer drug company said one of its imaging agents was not sensitive enough to detect prostate cancer in a clinical study. Progenics shares fell 19% after hours, following a 1.6% decline to close the regular session at $7.30. The company said a late-stage clinical trial found its so-called "1404" imaging agent needed to positively detect prostate cancer with a 60% or more sensitivity but did so with a 47% to 51% range. The imaging agent, however, was able to detect the absence of prostate cancer correctly with a specificity of 71% to 75% compared with the study target of 60% or more.

Intel Corp (INTC)

Intel Corp (INTC) –Death Cross? – The chip maker just captured its 6^th consecutive losing session yesterday to slip into bearish territory for the 1^st time in 2 years. An 18 year high of $57.08 was tapped on June 1^st before plummeting over 20% since.  INTC became the Dow’s worst performer on Tuesday with a 3% setback.  Others in the space are experiencing similar weakness as of late despite robust economic growth being touted overall.

Five Below (FIVE)

Five Below (FIVE) – High Five!  – The discount retailer is trading significantly higher at record highs pre-market after soundly beating quarterly estimates by $0.04 a share.  Same Store Sales increased by 2.7% to see a 23% jump in revenue overall with a rosy outlook also conveyed. The positive move was somewhat surprising considering a rapid decline from competitors in the space like Dollar Tree (DLTR) in recent days.