By: Dylan Sikes - AllPennyStocks.com News

Wednesday, October 26, 2016

U.S. equities were mixed in trading today even as investors digested better-than-expected oil supply data. Investors have been cautious as they assess the ongoing earnings season. On the oil market front, there was some positive news as the Energy Information Administration (EIA) reported a drawdown of 600,000 barrels. The data is in contrast to what the American Petroleum Institute had reported a day before.

On the U.S. economic front, investors digested some strong economic data. The data has further strengthened the case for a rate hike from the Federal Reserve. This may explain why investors have been cautious despite improved oil market data.

Meanwhile, the earnings season continues. After market close on Tuesday, technology giant Apple Inc. (NASDAQ:AAPL) reported better-than-expected quarterly profits. Despite the earnings beat, Apple shares have edged lower in trading today.

Another stock that is seeing significant activity in trading today after reporting earnings is Synergy CHC Corp. (OTCQB:SNYR). Based in Westbrook, Maine, Synergy CHC Corp. is a consumer health care company that is in the process of building a portfolio of best-in-class consumer product brands. Synergy's strategy is to grow its portfolio both organically and by further acquisition. Synergy's diversified portfolio now includes FOCUSFactor™, Flat Tummy Tea™, Neuragen™, and Hand MD™.

Synergy CHC shares are soaring after the company announced its third-quarter financial results. Net sales for the third quarter of 2016 were $11.6 million, compared to $3.2 million for the same quarter of 2015. For the third quarter of 2016, net income was $3.1 million or $0.04 (basic and diluted) earnings per share, compared to net loss of $0.5 million or $0.01 (basic and diluted) loss per share for the same quarter of 2015.

Net sales for the nine months ended September 30, 2016 were $28.1 million, compared to $7.2 million for the same period in 2015. For the nine months ended September 30, 2016, net income was $5.8 million, or $0.07 (basic and diluted) earnings per share, compared to net loss of $3.1 million, or $0.05 (basic and diluted) loss per share for the same period of 2015.

Jack Ross, CEO at Synergy CHC, said that the company continues to grow organically while refining execution across all brands and is still seeking further acquisitions to generate shareholder value through the addition of products that can help improve the lives of customers while leveraging its existing distribution relationships.

At last check, Synergy CHC shares were trading 28.57% higher at $0.450 on volume of 67,736, which is substantially above the daily average volume of 2,706.

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