The ASX is expected to open lower on Friday after Wall Street ended its day red, with Tesla stock falling nearly 10 per cent.

Elon Musk announced price cuts to his Teslas in a bid to drive up demand, but it could come at a cost to the giant’s balance sheet.

Nonetheless, here on some stocks to keep an eye on during Friday’s trade:

Invex Therapeutics (IXC) has received regulatory approval in France to begin its IIH EVOLVE phase three trial for patients with Idiopathic Intracranial Hypertension (IIH).

The company also received an approved application to the Ethics Committee CPP.

“This approval from the ANSM/CPP in France completes our competent authority strategy in Europe, where IIH patients across Germany and France will be participating in this important Phase III clinical trial,” Invex Executive Director and Chief Scientific Officer Professor Alex Sinclair said.

Shares in IXC last traded at 44 cents.

Equatorial Resources (EQX) has entered an agreement to acquire the Nimab Alliance iron ore project in Guinea, West Africa.

The company said the acquisition aligned with its focus on the large-scale exploration and development of iron ore assets.

The Nimab Alliance project has one of the largest landholdings in Guinea’s prolific Nimaba Iron Ore Corridor.

Shares in EQX last traded at 14 cents.

Meanwhile, Macro Metals (M4M) has reported “high-grade” rock chip samples of up to 33 per cent copper from four samples taken during an initial site trip to the Mogul VMS project in Western Australia.

The company confirmed the results were consistent with rock chip samples of up to 36 per cent copper and 11 per cent zinc reported by previous operators.

Macro Metals has now called on induced polarisation (IP) and gravity geophysical contractors to define the extent of the “highly prospective” target.

Shares in M4M last traded at 0.5 cents.

Piedmont Lithium (PLL) has completed a definitive feasibility study (DFS) of the company’s proposed Tennessee lithium project in the United States.

The study uncovered robust project economics and the positive impact of America’s Inflation Reduct Act.

Piedmont President and CEO Keith Phillips said the project was “positioned to be a key resource for EV and battery manufacturers”.

Shares in PLL last traded at 84 cents.

Torque Metals (TOR) has uncovered multiple mineralised zones at its Paris project in Western Australia.

A recently-completed diamond drill program intersected highly altered fault zones, with sulphides and quartz veining over 30 metres in one hole and 32 and 23 metres in other holes, with assays pending.

The company also commenced a 43-hole reverse circulation (RC) drilling program for 5000 metres on Friday, including extensional and in-fill drilling at its Observation, Paris and HHH prospects.

Shares in TOR last traded at 14 cents.

Gildan Activewear Inc. (GIL), a Apparel Manufacturing corporation, was a bullish stock in the stock market session. Gildan Activewear Inc. (GIL) stock opened the market for trading at $14.99 and closed the day at $14.81 with momentum of 0.00%. The increase move in Gildan Activewear Inc. (GIL) lagged the move in the DOW for the day which gained +1.11% in stock market day.

Gildan Activewear Inc. (GIL) is focused on the Apparel Manufacturing sector. This stock market sector has seen some action from day traders in recent days. Bullish day traders of Gildan Activewear Inc. (GIL) will be looking for positive upcoming earnings whereas bearish day traders of Gildan Activewear Inc. (GIL) will be looking for negative earnings. The last time Gildan Activewear Inc. (GIL) had an earnings surprise was on Qtr Ending 12/19 when they reported $0.41 compared to an estimate of $0.41. Current earnings estimates are to be released for Current Qtr 03/2020 on Gildan Activewear Inc. (GIL) and out of 3 Wall Street estimates the average is saying $0.13. The high estimate is saying $0.16 whereas the low estimate is saying $0.08 and the prior year Gildan Activewear Inc. (GIL) announced earnings at $0.16 a growth rate est. (year over year) of -18.75%.

The market performance of Gildan Activewear Inc. (GIL) has varied recently. Year to date Gildan Activewear Inc. (GIL)’s shares are down -49.85%. Over the past 12 weeks Gildan Activewear Inc. (GIL) is down -48.74% and over the last 4 weeks Gildan Activewear Inc. (GIL) is up 14.72%. Gildan Activewear Inc. (GIL) current income statement shows revenue (ttm) of $2.82B. Gross Profit is $763.66M. This puts the current EBITDA of Gildan Activewear Inc. (GIL) at $533.82M.

Wall street day traders might also notice recent changes to stock analyst estimates for Gildan Activewear Inc. (GIL). The stock is trading with an RSI (relative strength index) of 43.57 indicating Gildan Activewear Inc. (GIL) is neither overbought nor oversold. Technically, GIL’s short term support levels are around $13.75, $10.61 and $7.14 on the downside. GILs short term resistance levels are $33.96, $32.48 and $31.23 on the upside. The market cap of Gildan Activewear Inc. (GIL) is $2.911B and institutions hold 82.21% of the stock. The outstanding share count stands at 199.42M while the short float (shares short) stands at 1.29%.

Stock market research indicates that these estimate changes look to be directly correlated with short-term stock prices. The day traders can look to capitalize on the basis of ranking. Gildan Activewear Inc. (GIL) has short term rating of Neutral (-0.07), Intermediate rating of Bearish (-0.40) and long-term rating of Very Bearish (-0.50) giving Gildan Activewear Inc. (GIL) an overall rating of Bearish (-0.32).

The EPS growth this year on Gildan Activewear Inc. (GIL) is decreased -23.30% and is expected to increase 48.74% next year. However, quarterly earnings (EPS) growth year over year on Gildan Activewear Inc. (GIL) has decreased by -43.80% and quarterly revenue (Sales) growth year over year stands at -11.30%. Gross margin is detected at 24.90% that represents the percent of total sales revenue that the company retains after direct cost of goods sold. Net profit margin (ttm) is 9.20% while return on equity (ttm) is 13.70%.

Recent Developments:

2019-10-31 – Gildan Activewear Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019.
2019-10-31 – Gildan Activewear Inc. Revises Earnings Guidance for the Fourth Quarter and Full Year of 2019.
2019-10-31 – Gildan Activewear Inc. Announces Plan to Close Its Remaining Manufacturing Operations in Mexico; Announces Relocation of the Equipment to Operations in Central America and the Caribbean Basin.
2019-10-31 – Gildan Activewear Inc. Declares Quarterly Cash Dividend, Payable on December 9, 2019.
2019-10-17 – Gildan Activewear Inc. Revises Earnings Guidance for the Fourth Quarter and Year 2019.

About Company:

Gildan Activewear Inc. is a manufacturer and marketer of premium quality branded basic activewear for sale principally into the wholesale imprinted activewear segment of the North American apparel market. The company sells premium quality 100% cotton T-shirts and premium quality sweatshirts, in a variety of weights, sizes, colors and styles, as blanks, which are ultimately decorated with designs and logos for sale to consumers.

Zynga Inc. (ZNGA), a Electronic Gaming & Multimedia organization, was a bullish stock in the prior market session. Zynga Inc. (ZNGA) shares opened the market for trading at $7.97 and closed the day at $7.73 with negative move of -2.64%. The decrease movement in Zynga Inc. (ZNGA) lagged the movement in the NASDAQ, a tech heavy index, for the day which lossed -1.89% in prior market day.

Zynga Inc. (ZNGA) is focused on the Electronic Gaming & Multimedia sector. This stock market sector has seen some action from investors in recent trading sessions. Bullish investors of Zynga Inc. (ZNGA) will be looking for positive upcoming earnings whereas bearish investors of Zynga Inc. (ZNGA) will be looking for negative earnings. The last time Zynga Inc. (ZNGA) had an earnings surprise was on Qtr Ending 03/20 when they reported -$0.01 compared to an estimate of $0.02 which was a difference of -$0.03 resulting in a change of -150.00%. Current earnings estimates are to be released for Current Qtr 06/2020 on Zynga Inc. (ZNGA) and out of 7 Wall Street estimates the average is saying $0.02. The high estimate is saying $0.05 whereas the low estimate is saying -$0.04 and the prior year Zynga Inc. (ZNGA) announced earnings at -$0.06 a growth rate est. (year over year) of +133.33%.

The market performance of Zynga Inc. (ZNGA) has varied recently. Year to date Zynga Inc. (ZNGA)’s shares are up 29.74%. Over the past 12 weeks Zynga Inc. (ZNGA) is up 14.57% and over the last 4 weeks Zynga Inc. (ZNGA) is up 12.62%. Zynga Inc. (ZNGA) current income statement shows revenue (ttm) of $1.46B. Gross Profit is $797.57M. This puts the current EBITDA of Zynga Inc. (ZNGA) at $183.21M.

Wall street investors might also notice recent changes to stock analyst estimates for Zynga Inc. (ZNGA). The stock is trading with an RSI (relative strength index) of 56.32 indicating Zynga Inc. (ZNGA) is neither overbought nor oversold. Technically, ZNGA’s short term support levels are around $14.51, $13.98 and $13.01 on the downside. ZNGAs short term resistance levels are $23.50, $22.70 and $22.24 on the upside. The market cap of Zynga Inc. (ZNGA) is $7.393B and institutions hold 81.10% of the stock. The outstanding share count stands at 939.78M while the short float (shares short) stands at 4.39%.

Stock market research indicates that these earning estimate changes look to be directly correlated with short-term shares prices. The investors can look to capitalize on the basis of ranking. Based on technical analysis, ZNGA has short term rating of Neutral (0.24), Intermediate rating of Bullish (0.46) and the long-term rating of Very Bullish (0.51) giving it an overall rating of Bullish (0.40).

The EPS growth this year on Zynga Inc. (ZNGA) is increased 147.60% and is expected to increase 22.05% next year. However, quarterly earnings (EPS) growth year over year on Zynga Inc. (ZNGA) has increased by 21.60% and quarterly revenue (Sales) growth year over year stands at 52.10%. Gross margin is detected at 62.40% that represents the percent of total sales revenue that the company retains after direct cost of goods sold. Net profit margin (ttm) is 4.60% while return on equity (ttm) is 3.60%.

Recent Developments:

2020-05-06 – Zynga Inc Qtrly Loss Per Share $0.11.
2020-02-05 – Zynga Inc Says ‍​Qtrly Bookings $433 Million, Up 62%.
2019-11-28 – Zynga Inc. Presents at Nasdaq 41st London Investor Conference, Dec-04-2019 08:45 AM.
2019-10-30 – Zynga Qtrly EPS $0.24.
2019-10-30 – Zynga, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019.