Top Gaining Stocks as Markets Rally on Hopes of a Stimulus Deal

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The major stock indices are up this morning on news that a stimulus deal could be close. Yesterday, house speaker Nancy Pelosi stated that the negotiators were just about the deal.

Given that it is the most awaited deal at the moment, this positive news could see the market rally all through the day. In this environment of increased optimism, several stocks are outperforming the market and could trade in positive territory all through the day. Some of the top gainers pre-market are as below:

Socket Mobile Inc [NASDAQ: SCKT]

Socket Mobile Inc is one of the top gainers this morning after it released its financial results for the third quarter of 2020. These results are subject to an annual review process in line with goodwill impairment and a part of quarter-end closing procedures.

The company failed to carry out this review in time as a result of COVID-19 complications and uncertainties. That means that the numbers announced today have no goodwill impairment. Sensitive numbers that might be impacted negatively will have an asterisk to denote that there might be some changes.

The company will issue the full report once they complete the goodwill review and have it as form 10-Q for the third quarter.

Marin Software Inc [NASDAQ: MRIN]

Marin Software Inc. is gaining pre-market and looks set to start the day in the green.  The company recently said that it will announce its financial results for the third quarter ended September 30, 2020, on Thursday, November 5 after the close of the market.

It further announced that on that same day, it will have a conference call at 2:00 PM Pacific Time and (5:00 PM Eastern Time) to deliberate on the result released.

This call will be available in the United States of America through dialling the number (877)705-6003 and internationally through the number (201)493-6725. The conference ID 13710848 or access it through a live webcast via the link on the company’s website. There will also be a recorded replay of the same on November 12, 2020.

CLPS Incorporation [NASDAQ: CLPS]

CLPS Incorporation is another top performer after announcing its half-year and full-year financial results for the fiscal year 2020.

The company has recorded significant improvement in both periods as compared to the results of the fiscal year 2019. Revenues and Gross profit increased by 37.2% and 25.1% respectively for the half-year results, and by 37.7% and 31.0% respectively for the full-year results. Other results including the net income attributable to CPLS incorporation’s shareholders and non-GAAP net income also recorded considerable improvement.

The company’s Chief Executive Officer and Co-Founder Mr. Raymond Lin said that they have been focusing on the health of their employees and that of their families during the COVID-19 pandemic, but are pleased to have recorded stable growth in the two periods. He concluded by saying that the company hopes to continue expanding and grow its business.

 

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