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- 06 Oct - Morning Newsletter (with changes)
06 Oct - Morning Newsletter (with changes)
4 Hot Stocks Beating Today's Sell-Off
Good Morning!
Trading on October 5 at the American stock markets ended in the green zone. The S&P 500 index rose 1.05% to 4346 points. The Dow Jones added 0.92%, the Nasdaq climbed 1.25%. The leaders of the increase were the financial sector (+ 1.77%). Telecoms (+1.59) and IT companies (+ 1.46%) showed recovery growth after falling on Monday. The outsiders were issuers from the real estate sector (-0.86%).Today world stock markets are showing negative dynamics. The global energy crisis continues to put pressure on stock indices. Higher energy costs increase producer costs and reduce economic growth. The cost of gas in Europe has approached $ 1900 per 1,000 cubic meters, pushing up the prices of blue fuel in the United States. Since the beginning of autumn, gas quotes in the United States have skyrocketed by 44%, to their highest levels since 2014. At the same time, the rate of replenishment of reserves since the beginning of September has exceeded the average five-year values, and the rise in prices occurs during a period of low demand for gas.Black gold quotes are also showing significant growth. Since the beginning of the year, the price of Brent crude oil has increased by almost 60%, reaching highs since 2018. Oil is growing on the back of a strengthening dollar, although the value of commodity assets and the exchange rate of the US currency are usually inversely correlated. The DXY index, which reflects the value of the US dollar against world currencies, has added 4.8% since the beginning of the year.
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Today Top Movers
Palantir Technologies Inc. (PLTR) stock soared 8.4% to $25.16 in the pre-market trading after announcing that it has been selected by the U.S. Army’s Program Manager for Intelligence Systems and Analytics to deliver the Army’s Intelligence data fabric and analytics foundation for the Capability Drop 2 (CD-2) program.
Acer Therapeutics Inc. (NASDAQ: ACER) shares are trading up 19.28% at $2.97 at the time of writing after the company and its collaboration partner, RELIEF THERAPEUTICS Holding SA announced that the U.S. Food and Drug Administration (FDA) has accepted for filing the New Drug Application (NDA) for ACER-001.
Voyager Therapeutics, Inc. (VYGR) soared over 52.22% at $3.76 in pre-market trading today after declaring license option agreement with Pfizer for Next-Generation TRACERᵀᴹ AAV Capsids to enable neurologic and Cardiovascular Gene Therapy Programs.
Kaixin Auto Holdings (KXIN) jumped about 5.72% at $2.40 in pre-market trading Wednesday after it reported that sales doubled in September over the prior month for the POCCO brand electric vehicles.
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Top Upgrades & Downgrades
Keybanc turned bullish on VICI Properties Inc. (VICI), upgrading the stock to Overweight and assigning a $33.00 price target, representing a potential upside of 14.35% from Tuesday's close.
Phillips 66 (PSX) has won the favor of Piper Sandler's equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $87.00, suggesting 12.55% additional upside for the stock.
Cleveland-Cliffs Inc. (CLF) received an upgrade from analysts at Goldman Sachs, who also set their one-year price target on the stock to $24.00. They changed their rating on CLF to Buy from Neutral in a recently issued research note.
Earlier Wednesday Goldman Sachs reduced its rating on Nucor Corporation (NUE) stock to Neutral from Buy and assigned the price target to $108.00.
Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for American Airlines Group Inc. (AAL) has been changed to Sell from Neutral and the new price target is set at $18.00.
Analysts at Goldman Sachs downgraded JetBlue Airways Corporation (JBLU)'s stock to Neutral from Buy Wednesday.
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Latest Insider Activity
Centennial Resource Development Inc. (CDEV) SVP, Chief Accounting Officer Jensen Brent P announced the sale of shares taking place on Oct 05 at $7.50 for some 6,338 shares. The total came to more than $47535.0.
KLX Energy Services Holdings Inc. (KLXE) Director ROBERTSON CORBIN J JR sold on Oct 05 a total 0 shares at $4.94 on average. The insider’s sale generated proceeds of almost $0.39 million.
Asana Inc. (ASAN) President, CEO, & Chair Moskovitz Dustin A. declared the purchase of shares taking place on Oct 04 at $100.00 for some 250,000 shares. The transaction amount was around $25.0 million.
Ault Global Holdings Inc. (DPW) Executive Chairman AULT MILTON C III bought on Oct 05 a total 2,650,000 shares at $2.49 on average. The purchase cost the insider an estimated $373,845.
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Important Earnings
Top US earnings releases scheduled for today include Resources Connection Inc. (NASDAQ:RGP). It will announce its Aug 2021 financial results. The company is expected to report earnings of $0.25 per share from revenues of $175.73M in the three-month period.
Analysts expect Constellation Brands Inc. (NYSE:STZ) to report a net income (adjusted) of $2.77 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Aug 2021 is predicted to come in at $2.3B.
Levi Strauss & Co. (LEVI), due to announce earnings after the market closes today, is expected to report earnings of $0.37 per share from revenues of $1.48B 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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