06 Aug - Morning Newsletter

4 Hot Stocks to Trade Before the Weekend

August 06, 2021

Stocks Telegraph

Good Morning!

Stock markets in New York closed at record levels again yesterday. The S&P 500 index rose 0.60% to 4,429 points and the Nasdaq rose 0.78% to 14,895 points. The jobless claims fell in the last week of July with 14,000 to 385,000 applications. The US government jobs report is scheduled for later today. Economists expect 845,000 jobs to be added in the US last month. However, there is a lot of uncertainty surrounding the expectations, which is reflected in the broad range in which analysts make estimates. The most pessimistic economist expects only 350,000 jobs and the most optimistic analyst aims for 1.2 million jobs.Investors are watching Friday's jobs report closely as it could affect the Federal Reserve's monetary policy. Analysts at UBS don't think interest rates will rise in the next year and a half.Investors appear to be taking a wait and see approach today ahead of the US jobs report. On an individual level, there were a number of interesting companies with quarterly figures this morning. For example, ING announced this morning that it has more than exceeded earnings expectations. The bank's profit rose from 299 million euros in the second quarter of 2020 to almost 1.5 billion euros in the same period of this year. The price is more than 2% higher in premarket trading.

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Today Top Movers

Athersys Inc. (ATHX) stock soared 16.88% to $1.8 in the pre-market trading. The company’s partner HEALIOS K.K. released positive topline results of MultiStem for Acute Respiratory Distress Syndrome in the ONE-BRIDGE study

Sphere 3D Corp. (NASDAQ: ANY) shares are trading up 70.64% at $5.87 at the time of writing after announcing an agreement with Hertford Advisors Ltd., to acquire exclusive rights for the assignment of cryptocurrency mining assets.

Groupon Inc. (GRPN) grew over 16.47% at $41.5 in pre-market trading today after relaesing second quarter 2021 results.

BEST Inc. (BEST), a Trucking company, rose about 17.14% at $1.23 in pre-market trading Friday.

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Top Upgrades & Downgrades

JP Morgan turned bullish on Switch Inc. (SWCH), upgrading the stock to "Overweight" and assigning a $25.00 price target, representing potential upside of 23.03% from Friday's close.

Global Payments Inc. (GPN) 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 $206.00, suggesting 21.06% additional upside for the stock.

Pinduoduo Inc. (PDD) received an upgrade from analysts at China Renaissance. They changed their rating on PDD to Buy from Hold in a recently issued research note.

Earlier Friday Citigroup reduced its rating on IPG Photonics Corporation (IPGP) stock to Neutral from Buy and assigned the price target to $190.00.

Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Moderna Inc. (MRNA) has been changed to Neutral from Overweight and the new price target is set at $445.

Analysts at SVB Leerink downgraded Karyopharm Therapeutics Inc. (KPTI)'s stock to Market Perform from Outperform Friday.

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Latest Insider Activity

Aptose Biosciences Inc. (APTO) 10% Owner Wilson Donald R. Jr. announced the sale of shares taking place on Aug 05 at $2.62 for some 60,000 shares. The total came to more than $0.16 million.

Snowflake Inc. (SNOW) President of Products Dageville Benoit sold on Aug 04 a total 5,781,750 shares at $273.52 on average. The insider’s sale generated proceeds of almost $27352.0.

Magnolia Oil & Gas Corporation (MGY) CHAIRMAN, CEO, PRESIDENT CHAZEN STEPHEN I declared the purchase of shares taking place on Aug 05 at $14.12 for some 50,000 shares. The transaction amount was around $0.71 million.

CVS Health Corporation (CVS) Director LUDWIG EDWARD J bought on Aug 05 a total 17,334 shares at $79.55 on average. The purchase cost the insider an estimated $238,635.

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Important Earnings

Top US earnings releases scheduled for today include Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH). It will announce its Jun 2021 financial results. The company is expected to report earnings of -$1.99 per share from revenues of $9.44M in the three-month period.

Analysts expect Cinemark Holdings Inc. (NYSE:CNK) to report a net income (adjusted) of -$1.07 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2021 is predicted to come in at $262.75M.

Nuance Communications Inc. (NUAN), due to announce earnings before the market opens today, is expected to report earnings of $0.17 per share from revenues of $333.53M 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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