Wall Street was higher on Thursday, helped by a spike in bank stocks, a day after the Federal Reserve raised interest rates for the first time this year and signaled a faster pace of hikes in 2017. The Fed sees three rate hikes next year instead of the two foreseen as of September, partly as a result of the changes anticipated under President-elect Donald Trump. Hopefully, with companies like Progressive Care Inc(OTCMKTS: OTCQB:RXMD), TOP SHIPS Inc (NASDAQ: TOPS), and Euroseas Ltd.(NASDAQ: ESEA) can continue this pattern even after the initial increase in interest rates.
Progressive Care, Inc. (OTCMKTS: ) through its subsidiary PharmCo, LLC (PharmCo), is a health services company. The Company is engaged in providing prescription pharmaceuticals specializing in health practice risk management, compounded medications, the sale of anti-retroviral. In the company's most recent press release the company announced that they had strong sales for the month of November.
Top Ships Inc. (NASDAQ: ) is an international provider of oil, petroleum products and chemicals transportation services. The Company owns and operates eco medium range (NYSE:MR) tanker vessels focusing on the transportation of crude oil, petroleum products (clean and dirty) and bulk liquid chemicals. In the past month, the company has seen an increase in trading by 57.5%.
Euroseas Ltd. (NASDAQ: ) is engaged in the shipping business. The Company is an owner and operator of drybulk and container carrier vessels and is a provider of seaborne transportation for drybulk and containerized cargoes. In the company's most recent new they announced that they have signed a memorandum of agreement to purchase the M/V RT Dagr, a feeder containership vessel of 1,645 teu built in 1998 in Germany, for approximately 900,000 shares of the Company's common stock. In the past few days the company has gone up in price significantly by 112.59%.