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- 05 Oct - Morning Newsletter (with changes)
05 Oct - Morning Newsletter (with changes)
Pre Market Blockbuster Stocks To Watch
Good Morning!
For quite some time, stock markets kept going up, even when most stocks went down. This was mainly due to the fact that Big Tech kept going up and these stocks have a lot of weight. In recent weeks, however, the weakness came from the corner of Big Tech and so the indices in New York are in the process of a correction. The S&P 500 index closed 1.30% lower at 4,300 points yesterday and the Nasdaq even lost 2.14% at a close of 14,255 points. The Nasdaq has now reached an important support level on the chart. The highs from earlier this year are now providing support and we may see some recovery from here.Apple lost 2.42%, Alphabet fell 2.01% and also Facebook (-4.57%), Microsoft (-1.96%), Amazon (-2.71%) and NVIDIA (-4, 76%) we saw strong selling pressure. Investors apparently feel very insecure about the combination of slowing economic growth and the future phasing out of accommodative monetary policy. The markets are sorting for this, as US yields have risen from 1.15% to above 1.5% in recent weeks. Higher interest rates penalize growth stocks, especially technology. Future profits are then discounted at a higher interest rate, making (expensive) growth stocks extra sensitive to an interest rate rise.
Why Nevada Is About To Become The Richest State In The USA (And Make Some Investors VERY Happy)...Geologists predict that Nevada could hold 25% of the world's lithium supply. And with lithium quickly becoming the most valuable (and important) metal on the planet, Nevada could quickly become one of the richest states in the USA...
Today Top Movers
Team Inc. (TISI) stock soared 15.12% to $3.73 in the pre-market trading following the announcement from the company that it has been awarded a multi-year contract from Chevron to provide inspection, testing and analytics as part of their industry-leading mechanical integrity program.
Agrify Corporation (NASDAQ: AGFY) shares are trading up 18.03% at $21.8 at the time of writing after announcing that it has acquired Precision Extraction Solutions and Cascade Sciences, two of the leading brands that provide equipment and solutions for extraction, post-processing, and testing for the cannabis and hemp industry, from Sinclair Scientific.
Republic Services Inc. (RSG) tumbled over 0.0% at $120.01 in pre-market trading today after opening its Technical Institute, the industry's first-ever diesel technician training program.
WISeKey International Holding AG (WKEY), a Semiconductors company, rose about 6.04% at $6.32 in pre-market trading Tuesday after declaring that is teaming with the OISTE.ORG foundation to enter the humanitarian world of NFTs through the WISeKey TrustedNFT.IO platform.
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Top Upgrades & Downgrades
Evercore ISI Group turned bullish on Clearway Energy Inc. (CWEN), upgrading the stock to Outperform and assigning a $36.00 price target, representing potential upside of 18.42% from Monday's close.
Bloom Energy Corporation (BE) has won the favor of Raymond James's equity research team. The firm upgraded the shares from Outperform to Strong Buy and moved their price target to $29.00, suggesting 71.5% additional upside for the stock.
Comerica Incorporated (CMA) received an upgrade from analysts at Wolfe Research, who also set their one-year price target on the stock to $101.00. They changed their rating on CMA to Outperform from Underperform in a recently issued research note.
Earlier Tuesday Morgan Stanley reduced its rating on Atea Pharmaceuticals Inc. (AVIR) stock to Equal-Weight from Overweight and assigned the price target to $55.00.
Credit Suisse analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Digital Realty Trust Inc. (DLR) has been changed to Neutral from Outperform and the new price target is set at $150.00.
Analysts at Credit Suisse downgraded Equinix Inc. (REIT) (EQIX)'s stock to Neutral from Outperform Tuesday.
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Latest Insider Activity
PubMatic Inc. (PUBM) Chief Executive Officer Goel Rajeev K. announced the sale of shares taking place on Oct 04 at $24.09 for some 15,000 shares. The total came to more than $0.36 million.
Radian Group Inc. (RDN) Sr. EVP, General Counsel Hoffman Edward J sold on Oct 01 a total 111,272 shares at $22.81 on average. The insider’s sale generated proceeds of almost $76026.0.
Amicus Therapeutics Inc. (FOLD) Director WHITMAN BURKE W declared the purchase of shares taking place on Oct 01 at $9.56 for some 1,500 shares. The transaction amount was around $14346.0.
ZIOPHARM Oncology Inc. (ZIOP) Director Vieser Jaime bought on Sep 29 a total 705,321 shares at $1.91 on average. The purchase cost the insider an estimated $191,000.
Investor Alert: EV Initiatives Create Unsustainable Demand For LithiumThe soaring demand for lithium is driven by worldwide demand for electric vehicles (EVs). Lithium is ideal for electric cars. It's lightweight, stores lots of energy and is rechargeable. Sales of EVs are expected to increase 10-fold by 2030 and estimates are that 1 in 2 cars sold will be electric by 2040.
Important Earnings
Top US earnings releases scheduled for tomorrow include Acuity Brands Inc. (NYSE:AYI). It will announce its Aug 2021 financial results. The company is expected to report earnings of $2.85 per share from revenues of $963.96M in the three-month period.
Analysts expect RPM International Inc. (NYSE:RPM) to report a net income (adjusted) of $1.03 per share, when the company releases its quarterly results tomorrow. Revenue for the fiscal quarter ended Aug 2021 is predicted to come in at $1.64B.
Constellation Brands Inc. (STZ), due to announce earnings before the market opens tomorrow , is expected to report earnings of $2.77 per share from revenues of $2.3B 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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