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- 01 Mar - ST - Morning Newsletter (with survey at top and bottom)
01 Mar - ST - Morning Newsletter (with survey at top and bottom)
4 Stocks Rallying in Today's Down Market
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Good Morning!
The session on February 28, the main US stock markets ended in different directions. The S&P 500 fell 0.24% to 4374 points, the Dow Jones fell 0.49% and the Nasdaq rose 0.41%. The largest growth was recorded in the shares of energy companies (+2.57%). The real estate sector showed the worst dynamics (-1.77%).Company news
Chevron buys Renewable Energy Group (REGI: +40.4%) for $61.5 per share. The $3.15 billion deal will be paid for in cash.
Toronto-Dominion Bank acquires First Horizon National (FHN: +28.7%) for $25 per share in cash. The size of the deal is $13.4 billion.
Teladoc Health (TDOC: +7.3%) announced the launch of a general-purpose voice-assisted healthcare service on Amazon devices (Echo, Echo Dot and Echo Show).
America's Lithium Mecca?
Lithium is a precious commodity when it comes to our shift to renewable energy. Developing more domestic sources of the metal has been called a matter of national security, since China hogs 80% of the world's lithium. The U.S. Geological Survey calls one Nevada region the best-known lithium deposit in the world.
Today Top Movers
Target Corporation (TGT) stock soared 12.9% to $225.55 in the pre-market trading. The company reported fourth-quarter GAAP EPS from continuing operations of $3.21, compared with $2.73 in 2020, and $14.10 for full-year 2021, compared with $8.64 in 2020.
VEON Ltd. (NASDAQ: VEON) shares are trading up 6.7% at $0.5498 at the time of writing after announcing its intention to share access to its Augmented Intelligence Platform capabilities and know-how with the international mobile operator community.
Valneva SE (VALN) grew over 4.49% at $34.19 in pre-market trading today following the receipt of emergency use authorization from Bahrain for its inactivated COVID-19 Vaccine VLA2001.
Atea Pharmaceuticals Inc. (AVIR), a Biotechnology company, rose about 11.99% at $7.1 in pre-market trading Tuesday following the release of fourth-quarter financial results and news of upcoming drug trials.
Pot Boom Euphoria is Now
For cannabis stocks, 2021 started out with a euphoric boom, but it won't be remembered as a great year for the sector... but big opportunities still exist.
There are plenty of reasons to be optimistic in the new year. Especially when it comes to one NASDAQ-listed firm. They have the world's lowest-cost producer and have been busy making deals worldwide.
Top Upgrades & Downgrades
Morgan Stanley turned bullish on Lennox International Inc. (LII), upgrading the stock to Equal-Weight and assigning a $271.00 price target, representing potential upside of 1.56% from Monday's close.
Advanced Drainage Systems Inc. (WMS) has won the favor of Morgan Stanley's equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $145.00, suggesting 24.12% additional upside for the stock.
The Kroger Co. (KR) received an upgrade from analysts at Telsey Advisory, who also set their one-year price target on the stock to $54.00. They changed their rating on KR to Outperform from Market Perform in a recently issued research note.
Earlier Tuesday Atlantic Equities reduced its rating on Wix.com Ltd. (WIX) stock to Neutral from Overweight and assigned the price target to $100.00.
Credit Suisse analysts reduced their investment ratings, saying in research reports covered by the media that its rating for GoodRx Holdings Inc. (GDRX) has been changed to Neutral from Outperform and the new price target is set at $27.00.
Analysts at Goldman Sachs downgraded Lincoln National Corporation (LNC)'s stock to Neutral from Buy Tuesday.
The Greatest Wealth Event since the Internet?
Between 1995 and its peak in March 2000, the Nasdaq Composite stock market index rose 400% due in large part to the Internet Boom. Our Analysts think this is going to happen again over the next 2-3 years. In fact, the Metaverse is already being built as we speak. Bloomberg Intelligence estimates that the market size for the Metaverse could reach $800 billion by 2024.
Latest Insider Activity
The Coca-Cola Company (KO) North America OU President RIVERA ALFREDO announced the sale of shares taking place on Feb 25 at $62.60 for some 17,709 shares. The total came to more than $1.11 million.
Bristol-Myers Squibb Company (BMY) Board Chair and CEO Caforio Giovanni sold on Feb 24 a total 453,455 shares at $67.00 on average. The insider’s sale generated proceeds of almost $2.01 million.
APA Corporation (APA) Director Joung Chansoo declared the purchase of shares taking place on Feb 25 at $32.92 for some 40,000 shares. The transaction amount was around $1.32 million.
Matterport Inc. (MTTR) Chief Executive Officer PITTMAN RAYMOND J bought on Feb 25 a total 1,249,426 shares at $6.99 on average. The purchase cost the insider an estimated $139,832.
Retirement Might Be Closer Than You Thought!
Are you working toward retirement but want to get there faster? Did you know there is a trade doing that for thousands of people?
"How To Master The Retirement Trade" by options expert Dave Aquino will guide you through the early morning 'retirement window' trading hour and get you to your goals faster!
Important Earnings
Top US earnings releases scheduled for today include Plug Power Inc. (NASDAQ: PLUG). It will announce its Dec 2021 financial results. The company is expected to report earnings of -$0.11 per share from revenues of $157.32M in the three-month period.
Analysts expect Hewlett Packard Enterprise Company (NYSE: HPE) to report a net income (adjusted) of $0.46 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jan 2022 is predicted to come in at $7.03B.
Ross Stores Inc. (ROST), due to announce earnings after the market closes today, is expected to report earnings of $0.97 per share from revenues of $4.96B recently concluded three-month period.
That's it for today. Thanks for reading. Good luck out there!Best Regards,Stocks Telegraph Team
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