11 Aug - NH - Morning Newsletter

Good Morning!

Futures on US stock indexes on Wednesday show mixed dynamics in anticipation of inflation statistics, according to trading data. Futures for the Dow Jones Industrial Average (DJIA) grew by 0.05% - to 35173 points, on the NASDAQ high-tech index - decreased by 0.3%, to 14992 points, on the broad market S&P 500 index - fell by 0.1% to 4424.75 points. Traders are awaiting US inflation statistics in July before the opening of trading. Analysts predict a slowdown to 5.3% from 5.4% in June. The June reading was the highest since August 2008.The Fed has repeatedly stated that the acceleration of inflation in the United States is temporary. Analyst at Fidelity International. Salman Ahmed, quoted by the Wall Street Journal, noted that these statements by the regulator are beginning to raise doubts. Consumer prices are one of the key factors in determining the Fed's monetary policy. Accelerating inflation heightens fears of a tightening of monetary policy. In addition, later on Wednesday, market sentiment may be affected by the US Treasury budget statistics. Experts believe that the budget deficit rose to $ 307 billion in July from $ 174 billion in June.

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Today Top Movers

CohBar Inc. (CWBR) stock soared 49.61% to $1.93 in the pre-market trading after releasing topline results from the multi-center, randomized, double-blind, placebo-controlled Phase 1a/1b clinical study of CB4211, under development for nonalcoholic steatohepatitis (NASH) and obesity.

Upstart Holdings Inc. (NASDAQ: UPST) shares are trading up 21.61% at $165.0 at the time of writing following the declaration from the company that Associated Bank has launched enhanced personal loan capabilities including a seamless, digital experience enabled by Upstart.

Open Lending Corporation (LPRO) grew over 16.14% at $42.23 in pre-market trading today. The company reported $61.1 million in revenue during the second quarter of 2021, compared to $22.1 million in the second quarter of 2020

Zhangmen Education Inc. (ZME), a Education & Training Services company, rose about 13.85% at $6.0 in pre-market trading Wednesday.

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Top Upgrades & Downgrades

Morgan Stanley turned bullish on Lufax Holding Ltd - ADR (LU), upgrading the stock to "Overweight" and assigning a $13.00 price target, representing potential upside of 63.32% from Tuesday's close.

Intercorp Financial Services Inc. (IFS) has won the favor of JP Morgan's equity research team. The firm upgraded the shares from Underweight to Neutral.

DHT Holdings Inc. (DHT) received an upgrade from analysts at Stifel, who also set their one-year price target on the stock to $7.00. They changed their rating on DHT to Buy from Hold in a recently issued research note.

Earlier Wednesday Goldman Sachs reduced its rating on Dicerna Pharmaceuticals Inc. (DRNA) stock to Neutral from Buy and assigned the price target to $25.00.

Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Arcturus Therapeutics Holdings Inc. (ARCT) has been changed to Sell from Neutral and the new price target is set at $29.00.

Analysts at JMP Securities downgraded Cherry Hill Mortgage Investment Corporation (CHMI)'s stock to Market Perform from Market Outperform Wednesday.

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Latest Insider Activity

DigitalOcean Holdings Inc. (DOCN) 10% Owner AH Capital Management, L.L.C. announced the sale of shares taking place on Aug 09 at $53.02 for some 206,945 shares. The total came to more than $10.97 million.

Jefferies Financial Group Inc. (JEF) Chairman of the Board STEINBERG JOSEPH S sold on Aug 09 a total 106,972 shares at $35.05 on average. The insider’s sale generated proceeds of almost $3.4 million.

HollyFrontier Corporation (HFC) CEO and President Jennings Michael declared the purchase of shares taking place on Aug 10 at $29.07 for some 7,500 shares. The transaction amount was around $0.22 million.

Alzamend Neuro Inc. (ALZN) 10% Owner AULT MILTON C III bought on Aug 10 a total 6,688,988 shares at $4.01 on average. The purchase cost the insider an estimated $4,412.

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Important Earnings

Top US earnings releases scheduled for today include Clover Health Investments Corp. (NASDAQ:CLOV). It will announce its Jun 2021 financial results. The company is expected to report earnings of -$0.13 per share from revenues of $205.38M in the three-month period.

Analysts expect NIO Inc. (NYSE: NIO) to report a net income (adjusted) of -$0.11 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2021 is predicted to come in at $1.28B.

KE Holdings Inc. (BEKE), due to announce earnings after the market closes today, is expected to report earnings of $0.25 per share from revenues of $3.59B 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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