03 Aug - Morning Newsletter

Good Morning!

Wall Street started the new calendar month with enthusiasm, but by the end of the day, investors saw profits evaporate almost entirely. In the S&P 500, this even resulted in a loss of 0.18% at 4,387 points. The Nasdaq Composite saw a small gain of 0.06% from 14,681 points. Individually, however, significant results were visible. For example, Tesla's price went up for the fourth day, yesterday the price rose by 3.27% to $ 709.67. Square announced its purchase of Australian Afterpay for $29 billion skyrocketed by more than 10%.The fact that investors are still concerned about the emergence of the delta variant of the coronavirus is reflected in the bond markets. The yield on the 10-year US Treasury bond fell by 8 basis points to 1.15%. The lower interest rate reflects investors' belief that growth may slow if economic activity slows again due to the coronavirus. Later today, Under Armour, Lyft, Eli Lilly and Amgen will open the books with second quarter results.

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Today Top Movers

Wilhelmina International Inc. (WHLM) stock soared 45.08% to $6.34 in the pre-market trading after the recent SEC filing shows that Retail Ecommerce Ventures LLC acquired 237,500 shares at a price of $10 each.

Outlook Therapeutics Inc. (NASDAQ: OTLK) shares are trading up 30.53% at $2.95 at the time of writing after reporting positive clinical top-line results from its pivotal Phase 3 NORSE TWO safety and efficacy trial evaluating ONS-5010 / LYTENAVA™ (bevacizumab) for treatment of neovascular age-related macular degeneration (wet AMD).

Translate Bio Inc. (TBIO) grew over 29.16% at $37.65 in pre-market trading today following the news that Sanofi will buy Translate Bio for $3.2 billion in mRNA Push.

AutoWeb Inc. (AUTO), an Internet Content & Information company, rose about 18.91% at $3.71 in pre-market trading Tuesday following the declaration from the company that it has acquired the assets of CarZeus, a San Antonio to expand matchmaking capabilities.

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Top Upgrades & Downgrades

Stifel turned bullish on Planet Fitness Inc. (PLNT), upgrading the stock to "Buy" and assigning a $85.00 price target, representing potential upside of 14.31% from Tuesday's close.

DXC Technology Company (DXC) has won the favor of BMO Capital's equity research team. The firm upgraded the shares from Market Perform to Outperform and moved their price target to $50.00, suggesting 17.01% additional upside for the stock.

Workday Inc. (WDAY) received an upgrade from analysts at Barclays, who also set their one-year price target on the stock to $282.00. They changed their rating on WDAY to Overweight from Equal-Weight in a recently issued research note.

Earlier Tuesday Baird reduced its rating on Immunovant Inc. (IMVT) stock to Neutral from Outperform and assigned the price target to $10.00.

Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Professional Holding Corp. (PFHD) has been changed to Neutral from Overweight and the new price target is set at $22.00.

Analysts at Goldman Sachs downgraded Old Dominion Freight Line Inc. (ODFL)'s stock to Neutral from Buy Tuesday.

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Latest Insider Activity

Top US earnings releases scheduled for today include Amgen Inc. (NASDAQ:AMGN). It will announce its Jun 2021 financial results. The company is expected to report earnings of $4.06 per share from revenues of $6.43B in the three-month period.

Analysts expect Activision Blizzard Inc. (NASDAQ:ATVI) to report a net income (adjusted) of $0.75 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2021 is predicted to come in at $1.89B.

Match Group Inc. (MTCH), due to announce earnings after the market closes today, is expected to report earnings of $0.51 per share from revenues of $689.33M recently concluded three-month period.

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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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