11 may - morning newsletter

Good Morning!

The S&P 500 was down 1.04% yesterday at a close of 4,188 points. The Nasdaq 100 fell even harder with a whopping 2.63%. The strongest and weakest stocks in the technology index were eBay and Pinduoduo, respectively. The Dow rose nicely in the first half of the day towards the magical limit of 35,000 points, but eventually closed the day minus 0.10%. 3M was the strongest share in the Dow at plus 2.10%. Intel was the weakest share in the index with minus 2.95%. When we look at the dollar index, we see that yesterday the US dollar remained almost flat. Following the decline in the US, Asian equities have also plunged. The Nikkei 225 took the cake with a red 2.95% on the plates. In Hong Kong, the Hang Seng Index fell 2.15%. Shanghai Stock Exchange and KOSPI went down 0.27% and 1.39% respectively. Shares seem to be declining globally amid inflation fears and the possible response from central banks. On the other hand, there is also concern from the WHO. The COVID-19 variant facing India now could pose a potential threat to the efficacy of the vaccines we now use.

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Today Top Movers

Energous Corporation (WATT) stock soared 10.8% to $2.77 in the pre-market trading. The most recent rating by Ladenburg Thalmann, on May 01, 2019, is a Buy.NIKE Inc. (NYSE: NKE) shares are trading up 0.42% at $136.97 at the time of writing. Company’s 52-week ranged between $84.11 to $147.95. Analysts have a consensus price target of $165.China Xiangtai Food Co. Ltd. (PLIN) grew over 22.73% at $0.9205 in pre-market trading today.Evolving Systems Inc. (EVOL), a Software - Application company, rose about 15.76% at $2.35 in pre-market trading Tuesday. Evolving Systems Sets Date for 2021 First Quarter Results News Release and Conference Call.

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Top Upgrades & Downgrades

Evercore ISI Group turned bullish on Hawaiian Electric Industries Inc. (HE), upgrading the stock to "In-Line" and assigning a $45.0 price target, representing potential downside of -30.06% from Monday's close.

AssetMark Financial Holdings Inc. (AMK) has won the favor of Raymond James's equity research team. The firm upgraded the shares from Outperform to Strong Buy and moved their price target to $34.0, suggesting -13.98% additional downside for the stock.

NIKE Inc. (NKE) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $192.0. They changed their rating on NKE to Buy from Hold in a recently issued research note.

Earlier Tuesday Goldman Sachs reduced its rating on LyondellBasell Industries N.V. (LYB) stock to Neutral from BUY and assigned the price target to $117.0. With shares trading at around $113.44, the Wall Street firm thinks LyondellBasell Industries N.V.'s stock could add than -1.75%.

Golman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Dow Inc. (DOW) has been changed to Neutral from BUY and the new price target is set at $64.0.

Analysts at Goldman Sachs downgraded Huntsman Corporation (HUN)'s stock to Neutral from Conviction Buy on Monday.

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Latest Insider Activity

Kinder Morgan Inc. (KMI) V.P. (President, Terminals) Schlosser John W announced the sale of shares taking place on May 10 at $18.00 for some 4,500 shares. The total came to more than $81000.0.

Oracle Corporation (ORCL) Executive Chairman ELLISON LAWRENCE JOSEPH sold on May 10 a total 1,138,732,353 shares at $80.03 on average. The insider’s sale generated proceeds of almost $112.04 million.

Activision Blizzard Inc. (ATVI) Director NOLAN PETER J declared the purchase of shares taking place on May 10 at $95.62 for some 15,000 shares. The transaction amount was around $1.43 million.

Synthetic Biologics Inc. (SYN) CEO and CFO SHALLCROSS STEVEN A bought on May 10 a total 100,000 shares at $0.49 on average. The purchase cost the insider an estimated $24,595.

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Important Earnings

Top US earnings releases scheduled for today include Opendoor Technologies Inc. (NASDAQ:OPEN). It will announce its Mar 2021 financial results. The company is expected to report earnings of -$0.48 per share from revenues of $620.18M in the three-month period.

Analysts expect fuboTV Inc. (NYSE:FUBO) to report a net income (adjusted) of -$0.46 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2021 is predicted to come in at $103.88M.

QuantumScape Corporation (QS), due to announce earnings after the market closes today, is expected to report earnings of -$0.07 per share.

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

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Disclaimer: Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside of these emails.