10 Aug - Morning Newsletter

Good Morning!

The stock exchanges in New York did not move far from their place on Monday. The broad-based S&P 500 index ended with a 0.09% loss at 4,432 points. The technology exchange, the Nasdaq Composite, managed to squeeze out a gain of 0.16% , with a close of 14,860 points. The chip sector clearly had to take a step back. AMD lost 2.28%, Applied Materials fell 0.46% and Micron Technology lost 2.16%.In contrast, Chinese stocks with a US stock exchange listing showed a strong recovery. Tencent gained nearly 5% , JD.com was up over 3% and Baidu was up 1.42%. However, Alibaba lagged with a loss of 0.58%. The oil price (-4%) fell sharply due to the further spread of the delta variant of the corona virus. The unexpected slowdown in Chinese exports also prompted investors to sell oil. The US oil giants were all in the red on Monday.

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Today Top Movers

Dynatronics Corporation (DYNT) stock soared 26.15% to $1.64 in the pre-market trading. The company reported that its preliminary unaudited fourth quarter FY ‘21 total net sales were approximately $12.1 million.

Arcturus Therapeutics Holdings Inc. (NASDAQ: ARCT) shares are trading up 37.83% at $66.49 at the time of writing following news of Phase 3 studies of some of its Covid vaccines.

BioHiTech Global Inc. (BHTG) grew over 15.9% at $1.64 in pre-market trading today The company reported total revenues of $3.5 million in the second quarter of 2021 marked the third consecutive quarter of record revenue since the Company went public in 2015.

AMC Entertainment Holdings Inc. (AMC), a Entertainment company, rose about 8.64% at $36.72 in pre-market trading Tuesday after reporting second quarter 2021 results.

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Top Upgrades & Downgrades

Exane BNP Paribas turned bullish on Fiserv Inc. (FISV), upgrading the stock to "Neutral" and assigning a $116.00 price target, representing potential upside of 5.15% from Monday's close.

Array Technologies Inc. (ARRY) has won the favor of Roth Capital's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $25.00, suggesting 82.35% additional upside for the stock.

Sohu.com Limited (SOHU) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $28.00. They changed their rating on SOHU to Buy from Hold in a recently issued research note.

Earlier Tuesday Raymond James reduced its rating on ZIOPHARM Oncology Inc. (ZIOP) stock to Market Perform from Outperform and assigned the price target to $3.00.

B. Riley Securities analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Waitr Holdings Inc. (WTRH) has been changed to Neutral from Buy and the new price target is set at $1.75.

Analysts at Credit Suisse downgraded Manulife Financial Corporation (MFC)'s stock to Neutral from Outperform Tuesday.

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Latest Insider Activity

Snap Inc. (SNAP) Chief Executive Officer Spiegel Evan announced the sale of shares taking place on Aug 06 at $76.66 for some 149,695 shares. The total came to more than $11.48 million.

MicroStrategy Incorporated (MSTR) President & CFO Le Phong sold on Aug 06 a total 0 shares at $733.42 on average. The insider’s sale generated proceeds of almost $7.33 million.

Dun & Bradstreet Holdings Inc. (DNB) Chief Executive Officer Jabbour Anthony M declared the purchase of shares taking place on Aug 09 at $18.21 for some 109,806 shares. The transaction amount was around $2.0 million.

Activision Blizzard Inc. (ATVI) Director NOLAN PETER J bought on Aug 06 a total 97,557 shares at $81.58 on average. The purchase cost the insider an estimated $677,148.

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Important Earnings

Top US earnings releases scheduled for today include Coinbase Global Inc. (NASDAQ:COIN). It will announce its Jun 2021 financial results. The company is expected to report earnings of $2.24 per share from revenues of $1.77B in the three-month period.

Analysts expect fuboTV Inc. (NYSE:FUBO) to report a net income (adjusted) of -$0.5 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2021 is predicted to come in at $118.88M.

Pan American Silver Corp. (PAAS), due to announce earnings after the market closes today, is expected to report earnings of $0.32 per share from revenues of $441.13M 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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