10 may - morning newsletter

Good Morning!

Last Friday's US jobs report was not good. The unemployment rate rose to 6.1% and only 266,000 jobs were created last month. The forecast here was 990,000 jobs. Stock prices reacted positively to these disappointing US labor market figures. Following last week's statements by US Treasury Secretary Janet Yellen, the market is looking for reasons leading to continued low interest rates and quantitative easing. Let these disappointing macro data be a very good reason to let the Fed steer unchanged. The S&P 500 E-mini future (ES) is currently 0.20% higher and is trading at 4,234 points. The Nasdaq 100 E-mini future (NQ) has seen an increase of 0.15% during the Asian session. The NQ future is now trading at 13,729 points. The E-mini Dow Jones future is 0.27% higher and, like the ES future, is trading at a new all-time high at the moment. The price while writing the Morning Call is 34,782 points. Risk appetite appears to be high among investors. Stock prices have opened higher the week, commodity prices are soaring. Today alone copper is again 1.55% higher.In any case, such raw material prices are passed on to consumers at the end of the journey. Inflation is expected to have increased by 0.2% at the end of the month. It should be noted, however, that there are more and more voices that the calculation of the CPI figure does not reflect actual inflation at all.

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Today Top Movers

Alfi Inc. (ALF) stock soared 27.3% to $4.71 in the pre-market trading.Acasti Pharma Inc. (NASDAQ: ACST) shares are trading up 10.22% at $0.52 at the time of writing. Company’s 52-week ranged between $0.17 to $1.22.Cinedigm Corp. (CIDM) grew over 10.57% at $1.36 in pre-market trading today.BioNTech SE (BNTX), a Biotechnology company, rose about 9.3% at $200.8 in pre-market trading Monday.

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Top Upgrades & Downgrades

RBC Capital turned bullish on Cogent Communications Holdings Inc. (CCOI), upgrading the stock to "Outperform" and assigning a $84.0 price target, representing potential downside of -13.21% from Sunday's close.

Eagle Materials Inc. (EXP) has won the favor of Jefferies's equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $170.0, suggesting -21.79% additional downside for the stock.

Sabra Health Care REIT Inc. (SBRA) received an upgrade from analysts at Stifel, who also set their one-year price target on the stock to $21.0. They changed their rating on SBRA to Buy from Hold in a recently issued research note.

Earlier Sunday Barclays reduced its rating on Oracle Corporation (ORCL) stock to Equal-Weight from Overweight and assigned the price target to $80.0. With shares trading at around $80.40, the Wall Street firm thinks Oracle Corporation's stock could decline more than -11.16%.

BTIG analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Leaf Group Ltd. (LEAF) has been changed to Neutral from Buy and the new price target is set at $8.5.

Analysts at Evercore ISI Group downgraded Installed Building Products Inc. (IBP)'s stock to In-Line from Outperform on Monday.

Ultra-Low-Priced Mining Stock Rising on Copper Boom for the AgesCopper is soaring & investors are cashing in. The EV boom and the electrification of everything has copper at 10-year highs above $4.50 per pound. Biden's Green Energy mandate and $2.3 Trillion infrastructure and decarbonization plan means even greater copper demand this year and next. The Smart Money is going into this $0.50 copper miner that just secured a nearly 1 Billion Ton deposit in Canada.

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Latest Insider Activity

The Blackstone Group Inc. (BX) Executive Vice Chairman JAMES HAMILTON E announced the sale of shares taking place on May 07 at $90.24 for some 259,649 shares. The total came to more than $23.43 million.

Cerner Corporation (CERN) Chairman and CEO Shafer David Brent sold on May 07 a total 0 shares at $76.36 on average. The insider’s sale generated proceeds of almost $6.78 million.

HollyFrontier Corporation (HFC) Director MYERS FRANKLIN declared the purchase of shares taking place on May 07 at $34.69 for some 10,000 shares. The transaction amount was around $0.35 million.

Corning Incorporated (GLW) Director Ferguson Roger W. Jr. bought on May 05 a total 1,324 shares at $45.30 on average. The purchase cost the insider an estimated $59,977.

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Important Earnings

Top US earnings releases scheduled for today include Occidental Petroleum Corporation (NYSE:OXY). It will announce its Mar 2021 financial results. The company is expected to report earnings of -$0.33 per share from revenues of $4.91B in the three-month period.

Analysts expect Nuance Communications Inc. (NASDAQ:NUAN) to report a net income (adjusted) of $0.17 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2021 is predicted to come in at $344.05M.

Virgin Galactic Holdings Inc. (SPCE), due to announce earnings after the market closes today, is expected to report earnings of -$0.27 per share from revenues of $330k 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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