04 Aug - NH - Morning Newsletter

4 Stocks to Watch Before the Open

August 04, 2021

Good Morning!

The New York stock exchanges closed with gains on Tuesday. Indices were initially in the red just after the opening, but investors' willingness to buy increased during the day. The Nasdaq was up 0.55% to 14,761 points and the S&P 500 even rose 0.82% to 4,423 points. Although lower yields in bond markets indicate that investors are concerned about economic growth, this is not yet reflected in equities. Incidentally, we have not yet seen any significant increases in safe havens such as gold.Equities appear to continue to benefit from strong quarterly figures and encouraging economic data. Of course, an important aspect of the sustained gains remains the favorable investment climate created by the central banks. The Fed has recently changed its stance. The US central bank may still see inflation as permanent, and if the labor market performs well, the Fed is inclined to reduce the volume of bond purchases in October.

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Today Top Movers

Alterity Therapeutics Limited (ATHE) stock soared 23.81% to $1.69 in the pre-market trading after announcing that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for Alterity’s patent application No. 17/239,375.

Cerus Corporation (NASDAQ: CERS) shares are trading up 15.98% at $5.95 at the time of writing after releasing record second quarter 2021 financial results and raises full year product revenue guidance.

Robinhood Markets Inc. (HOOD) grew over 8.76% at $50.9 in pre-market trading today after the company’s initial public offering price for the first time as individual investors joined Cathie Wood on Tuesday to boost the zero-fee trading platform.

Impel NeuroPharma Inc. (IMPL), a Biotechnology company, rose about 11.28% at $16.67 in pre-market trading Wednesday. The company will present at the 2021 Wedbush Pacgrow virtual healthcare conference.

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Top Upgrades & Downgrades

Truist Securities turned bullish on Global Blood Therapeutics Inc. (GBT), upgrading the stock to "Buy" and assigning a $50.00 price target, representing potential upside of 85.94% from Wednesday's close.

Chatham Lodging Trust (CLDT) has won the favor of B. Riley Securities's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $15.00, suggesting 31.09% additional upside for the stock.

BJ's Restaurants Inc. (BJRI) received an upgrade from analysts at Deutsche Bank, who also set their one-year price target on the stock to $49.00. They changed their rating on BJRI to Buy from Hold in a recently issued research note.

Earlier Wednesday Raymond James reduced its rating on Newtek Business Services Corp. (NEWT) stock to Underperform from Market Peform.

Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Alnylam Pharmaceuticals Inc. (ALNY) has been changed to Neutral from Overweight and the new price target is set at $181.00.

Analysts at Credit Suisse downgraded Corsair Gaming Inc. (CRSR)'s stock to Neutral from Outperform Wednesday.

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Latest Insider Activity

Baker Hughes Company (BKR) Director GENERAL ELECTRIC CO announced the sale of shares taking place on Aug 03 at $23.36 for some 53,720,040 shares. The total came to more than $1.25 billion.

Clovis Oncology Inc. (CLVS) IVERS-READ GILLIAN C sold on Aug 03 a total 252,005 shares at $4.82 on average. The insider’s sale generated proceeds of almost $17752.0.

Ault Global Holdings Inc. (DPW) Executive Chairman AULT MILTON C III declared the purchase of shares taking place on Aug 03 at $2.33 for some 10,000 shares. The transaction amount was around $23269.0.

EnLink Midstream LLC (ENLC) 10% Owner WSIP Egypt Holdings, LP bought on Jul 29 a total 677,900 shares at $5.78 on average. The purchase cost the insider an estimated $49,347.

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Important Earnings

Top US earnings releases scheduled for today include Uber Technologies Inc. (NYSE:UBER). It will announce its Jun 2021 financial results. The company is expected to report earnings of -$0.51 per share from revenues of $3.74B in the three-month period.

Analysts expect Roku Inc. (NASDAQ:ROKU) to report a net income (adjusted) of $0.12 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2021 is predicted to come in at $618.54M.

MetLife Inc. (MET), due to announce earnings after the market closes today, is expected to report earnings of $1.57 per share from revenues of $15.77B recently concluded three-month period.

That's it for today. Thanks for reading. Good luck out there!Best Regards,News Heater Team

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Disclaimer: Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside of these emails.