02 Aug - Morning Newsletter

Good Morning!

The rise on the stock markets seems unstoppable and the charts look very strong. Volatility increased somewhat due to concerns about the economic recovery and the emergence of the delta variant, but on balance indices continue to rise. The month of July was closed in green and Wall Street ended with a profit for the sixth month in a row. The Nasdaq was up 1.2% in July and the broad-based S&P 500 was up 2.3%.The main topic of recent months has, of course, been inflation. Last Friday, the CPI figure showed an increase of 3.5% in June. While this marked a strong acceleration in inflation, the figure lagged slightly behind analysts' forecasts of 3.6%. Also on Friday, the second quarter US gross domestic product (GDP) rose 6.5% year-on-year, significantly less than the 8.4% analysts had expected. On top of that, the price of Amazon.com also fell by 7.56%, making the mood slightly negative. The Nasdaq closed 0.71% lower at 14,672 points on Friday and the S&P 500 was down 0.54% to 4,395 points.Throughout this morning, US futures are up 0.55% and investors seem excited to start the new month. Later this week, Uber, Lyft, General Motors, Roku and Square, among others, will release the numbers. It has been a pretty good earnings season so far. Of the 59% of S&P 500 companies that have posted Q2 earnings, 88% have beaten earnings expectations.

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Today Top Movers

Exicure Inc. (XCUR) stock soared 42.22% to $1.92 in the pre-market trading after announcing an exclusive collaboration agreement with Ipsen to research, develop, and commercialize novel Spherical Nucleic Acids (SNAs) as potential investigational treatments for Huntington’s disease and Angelman syndrome.

XPeng Inc. (NYSE: XPEV) shares are trading up 4.12% at $42.2 at the time of writing. XPeng Announces Vehicle Delivery Results for July 2021. After reporting more than tripled from a year ago July deliveries, increase 22% from the previous month.

BioNTech SE (BNTX) grew over 4.16% at $342.02 in pre-market trading today. The company declared that it will announce its financial results for the second quarter on Monday, August 9th, 2021.

Tonix Pharmaceuticals Holding Corp. (TNXP), a Biotechnology company, rose about 1.96% at $0.73 in pre-market trading Monday after announcing the groundbreaking ceremony for Massachusetts R&D facility to House the Advanced Development Center (ADC) for vaccine programs

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Top Upgrades & Downgrades

Piper Sandler turned bullish on Avantor Inc. (AVTR), upgrading the stock to "Overweight" and assigning a $41.00 price target, representing potential upside of 9.1% from Friday's close.

LKQ Corporation (LKQ) has won the favor of Raymond James's equity research team. The firm upgraded the shares from Market Perform to Outperform and moved their price target to $60.00, suggesting 18.23% additional upside for the stock.

Infinity Pharmaceuticals Inc. (INFI) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $6.00. They changed their rating on INFI to Overweight from Neutral in a recently issued research note.

Earlier Monday BTIG reduced its rating on Misonix Inc. (MSON) stock to Neutral from Buy.

JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Telephone and Data Systems Inc. (TDS) has been changed to Underweight from Neutral and the new price target is set at $23.00.

Analysts at Raymond James downgraded W.W. Grainger Inc. (GWW)'s stock to Market Perform from Outperform Monday.

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Latest Insider Activity

Tesla Inc. (TSLA) SVP Powertrain and Energy Eng. Baglino Andrew D announced the sale of shares taking place on Jul 27 at $663.38 for some 1,500 shares. The total came to more than $1.0 million.

ContextLogic Inc. (WISH) Interim Co-CFO, Chief Acc Ofcr Just Brett sold on Jul 28 a total 38,376 shares at $10.00 on average. The insider’s sale generated proceeds of almost $10000.0.

Archer-Daniels-Midland Company (ADM) President & CEO LUCIANO JUAN R declared the purchase of shares taking place on Jul 29 at $59.54 for some 16,790 shares. The transaction amount was around $1.0 million.

The Blackstone Group Inc. (BX) 10% Owner Clarus Lifesciences III, L.P. bought on Jul 20 a total 3,375,037 shares at $16.00 on average. The purchase cost the insider an estimated $2.4 million.

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Important Earnings

Top US earnings releases scheduled for today include Itau Unibanco Holding S.A. (NYSE:ITUB). It will announce its Jun 2021 financial results. The company is expected to report earnings of $0.12 per share from revenues of $5.51B in the three-month period.

Analysts expect Transocean Ltd. (NYSE: RIG) to report a net income (adjusted) of -$0.16 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2021 is predicted to come in at $675.89M.

The Williams Companies Inc. (WMB), due to announce earnings after the market closes today, is expected to report earnings of $0.28 per share from revenues of $1.96B 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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