1 Dec - Morning Newsletter (with changes)

Good Morning!

Trading on November 30 at the main American stock markets ended with a fall. The S&P 500 index fell 1.9%, reaching 4567 points. The Dow Jones lost 1.86% and the Nasdaq corrected 1.55%. All industries, without exception, closed in the red. Utilities companies (-2.92%), issuers from the consumer goods sector (-2.73%), as well as industrial enterprises (-2.55%) looked worse than others against this background.Company news•    The CEO of Moderna (MRNA: -4.4%) said vaccines on the market were significantly less effective against the omicron strain.•    The CEO of BioNTech SE (BNTX: -2.9%) believes that vaccinated patients are better protected from the new coronavirus mutation compared to unvaccinated ones.•    FDA experts have recommended approval of Merck & Co's COVID-19 drug (MRK: + 0.03%).Quotes fell early in the session amid reports from the CEO of Moderna that vaccines against the new strain of coronavirus are less effective. The downward movement intensified after Fed Chairman Jerome Powell said it was time to stop using the term "temporary" in relation to high inflation in the US, as this situation could drag on. In addition, the head of the FRS noted that, perhaps, a faster completion of the quantitative easing program should be discussed at the next meeting of the FOMC.The announcement took investors by surprise, as the market had previously expected that the emergence of a new omicron strain would force the financial authorities to slow down the withdrawal of assets. Instead, the Fed chairman noted that he is more concerned about adapting policies to the current situation in order to effectively contain inflationary pressures. Given the rhetoric of Jerome Powell, it can be assumed that the Fed may raise rates earlier than expected.The yield on two-year government bonds rose from 0.43% to 0.56% during the Fed Chairman Q&A session, but ultimately remained at 0.52%. The 10-year Treasury yield fell to 1.44%.Futures for Brent crude oil is quoted at $ 70.57 per barrel. Gold is trading at $ 1,773.6 per troy ounce.

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Today Top Movers

NIO Inc. (NIO) stock soared 4.11% to $40.74 in the pre-market trading. The company delivered 10,878 vehicles in November 2021, representing a solid 105.6% year-over-year growth.

Energous Corporation (NASDAQ: WATT) shares are trading up 6.67% at $1.6 at the time of writing following the declaration of its new 10W WattUp PowerHub has received U.S. Federal Communications Commission (FCC) Part 18 grant of equipment authorization for 10W of conducted wireless power transfer.

NVIDIA Corporation (NVDA) grew over 2.03% at $333.38 in pre-market trading today. The company will present at the Deutsche Bank’s Virtual AutoTech Conference on Thursday, Dec. 9, at 1 p.m. Pacific Time.

Advanced Micro Devices Inc. (AMD), a Semiconductors company, rose about 1.91% at $161.39 in pre-market trading Wednesday after Amazon Web Services, Inc. (AWS) has expanded its AMD EPYC™ processor-based offerings with the general availability of general-purpose Amazon EC2 M6a instances.

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Top Upgrades & Downgrades

BMO Capital turned bullish on Regency Centers Corporation (REG), upgrading the stock to Outperform and assigning a $82.00 price target, representing potential upside of 18.26% from Tuesday's close.

Lennar Corporation (LEN) has won the favor of Goldman Sachs's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $140.00, suggesting 33.26% additional upside for the stock.

ImmunoGen Inc. (IMGN) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $12.00. They changed their rating on IMGN to Buy from Hold in a recently issued research note.

Earlier Wednesday Goldman Sachs reduced its rating on D.R. Horton Inc. (DHI) stock to Neutral from Buy and assigned the price target to $119.00.

Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Krispy Kreme Inc. (DNUT) has been changed to Sell from Neutral and the new price target is set at $14.00.

Analysts at Wells Fargo downgraded American Water Works Company Inc. (AWK)'s stock to Underweight from Equal-Weight Wednesday.

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Latest Insider Activity

Top US earnings releases scheduled for today include Snowflake Inc. (NYSE:SNOW). It will announce its Oct 2021 financial results. The company is expected to report earnings of -$0.06 per share from revenues of $305.57M in the three-month period.

Analysts expect CrowdStrike Holdings Inc. (NASDAQ:CRWD) to report a net income (adjusted) of $0.1 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2021 is predicted to come in at $363.53M.

Splunk Inc. (SPLK), due to announce earnings after the market closes today, is expected to report earnings of -$0.5 per share from revenues of $650.98M recently concluded three-month period.

Biden Executive Order 14017 Potentially Sending Lithium Stocks SkyrocketingThe White House is scared of our country's lithium supply running out. That's why Biden issued executive order 14017 to figure out how to expand our lithium production. And this is GREAT news for one company who's gobbling up land in the lithium-rich Nevada desert.See How Order 14017 Could Send This Company Skyrocketing

Important Earnings

Top US earnings releases scheduled for today include Zscaler Inc. (NASDAQ:ZS). It will announce its Oct 2021 financial results. The company is expected to report earnings of $0.12 per share from revenues of $208.43M in the three-month period.

Analysts expect salesforce.com inc. (NYSE:CRM) to report a net income (adjusted) of $0.92 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2021 is predicted to come in at $6.8B.

NetApp Inc. (NTAP), due to announce earnings after the market closes today, is expected to report earnings of $1.21 per share from revenues of $1.55B 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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