Morgan Stanley (MS) Sees Opportunity In Encana (ECA); Better-Than-Expected Results Boost ConforMIS (CFMS)

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After the closing bell Friday, investment firm Morgan Stanley (NYSE:MS) disclosed in a regulatory filing ( SC 13G ) with the U.S. Securities and Exchange Commission (SEC) a 5.0% passive stake (48,427,102 shares) in Canada-based energy producer Encana Corp. (NYSE:ECA)

ECA stock closed the regular session in negative territory by 0.41% ( or -$0.04) at $9.80 with a total volume of 16.91M shares traded

Encana, which is engaged in the business of exploration, development, production and marketing of natural gas, oil and natural gas liquids, has 972.96M Shares Outstanding, Market Capitalization (intraday) of $9.35B and ECA stock 52-week range is from $3.00 to $11.74 per share

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Shares of ConforMIS Inc. (Nasdaq:CFMS) soared 33.87% (or +$2.30) to $9.09 on Friday’s trading session after the medical technology company delivered better-than-expected quarterly financial results, highlighted by a significant increase in revenue and a narrower loss

For the third quarter 2016, ConforMIS posted revenue of $18.6 million, a 34% increase year over year, and net loss of ($12.8) million, or ($0.31) per diluted share, versus a net loss of ($17.1) million, or ($0.45) per diluted share in the same quarter the prior year, topping the Capital IQ Consensus Estimate of ($0.37) loss per share on revenues of $18.24 million for the period

ConforMIS, which develops, manufactures, and sells customized joint replacement implants, has 42.13M Shares Outstanding, Market Capitalization (intraday) of $382.94M and CFMS stock one-year range is between $4.80 and $23.04 per share

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