10 Sep - NH - Morning Newsletter (with changes)

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Good Morning!

US stocks fell on Thursday as concerns about a slowdown in economic growth and an increasing incidence of Covid-19 weighed on investor sentiment.All three major indices declined, closing at session lows after surrendering positions captured earlier in the day. The S&P and Dow Jones Industrial Average have been declining for four straight sessions.The S&P index lost 20.79 points, or 0.5%, to close at 4493.28 points. The Dow dropped 151.69 points, or 0.4%, to 34879.38 points. The Nasdaq Composite fell 38.38 points, or 0.3%, to 15248.25.September trading was still volatile, and the major indices ended each session with only a slight increase or decrease. Money managers say the indices are driven in part by uncertainty about the future pace of the U.S. economic recovery, especially as many states continue to face the threat of rising coronavirus cases and hospitalizations with Covid-19.

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Today Top Movers

IVERIC bio Inc. (ISEE) stock soared 40.85% to $12.24 in the pre-market trading. Stifel analyst Annabel Samimy initiates coverage on Iveric Bio (ISEE) with a Buy rating and a price target of $22.00.

T2 Biosystems Inc. (NASDAQ: TTOO) shares are trading up 23.47% at $1.07 at the time of writing after announcing that its T2SARS-CoV-2 Panel is capable of detecting the Mu (B.1.621) and Iota (B.1.526) variants of the SARS-CoV-2 virus, which were recently confirmed to be present in the United States.

Affirm Holdings Inc. (AFRM) grew over 23.96% at $114.12 in pre-market trading today. The company reported $261.8 million in the fourth quarter 2021, an increase of 71% from the same period in 2020.

Zscaler Inc. (ZS), a Software - Infrastructure company, rose about 3.85% at $291.00 in pre-market trading Friday after reporting fourth quarter and fiscal 2021 financial results.

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Top Upgrades & Downgrades

Goldman Sachs turned bullish on Allegion plc (ALLE), upgrading the stock to "Buy" and assigning a $174.00 price target, representing potential upside of 21.53% from Thursday's close.

Rexnord Corporation (RXN) 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 $74.00, suggesting 17.89% additional upside for the stock.

CNO Financial Group Inc. (CNO) received an upgrade from analysts at Piper Sandler, who also set their one-year price target on the stock to $27.00. They changed their rating on CNO to Overweight from Neutral in a recently issued research note.

Earlier Friday Piper Sandler reduced its rating on Sumo Logic Inc. (SUMO) stock to Neutral from Overweight and assigned the price target to $20.00.

Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Colfax Corporation (CFX) has been changed to Neutral from Buy and the new price target is set at $51.00.

Analysts at Oppenheimer downgraded Equinix Inc. (REIT) (EQIX)'s stock to Perform from Outperform Friday.

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Latest Insider Activity

Palantir Technologies Inc. (PLTR) Cohen Stephen Andrew announced the sale of shares taking place on Sep 09 at $26.09 for some 18,645 shares. The total came to more than $0.49 million.

Autodesk Inc. (ADSK) EVP & Chief Financial Officer Clifford Deborah sold on Sep 08 a total 22,646 shares at $289.81 on average. The insider’s sale generated proceeds of almost $1.59 million.

Ault Global Holdings Inc. (DPW) Executive Chairman AULT MILTON C III declared the purchase of shares taking place on Sep 09 at $2.81 for some 292,600 shares. The transaction amount was around $0.82 million.

ON Semiconductor Corporation (ON) Director WATERS GREGORY L bought on Sep 07 a total 17,000 shares at $45.26 on average. The purchase cost the insider an estimated $769,420.

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Important Earnings

Top Upcoming US earnings releases scheduled include The Kroger Co. (NYSE:KR). It will announce its Jul 2021 financial results. The company is expected to report earnings of $0.64 per share from revenues of $30.68B in the three-month period.

Analysts expect BeyondSpring Inc. (NASDAQ:BYSI) to report a net income (adjusted) of -$0.33 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2021 is predicted to come in at $8.77M.

Mission Produce, Inc. (AVO) , due to announce earnings after the market closes Monday, is expected to report earnings of $0.29 per share from revenues of $246.37M recently concluded three-month period.

That's it for today. Thanks for reading. Good luck out there!Best Regards,News Heater Team

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