12 apr - morning newsletter

Good Morning

The stock exchanges in New York closed higher last Friday after a substantial final sprint. The S&P 500 rose 0.77% to a new record at 4,128 points and the Nasdaq closed 0.51% higher at 13,900 points. Investors raved about the good jobs report last week, while central banks remain dovish. The minutes of both the Fed and the ECB show that the central banks see little in the premature unwinding of their stimulus measures for the economy.Whether the sharply rising prices are also justified when we look at the results will become clear in the coming weeks . The quarterly earnings season will traditionally be kicked off next week by the major US banks. JPMorgan Chase, Wells Fargo and Goldman Sachs, for example, come up with figures for the first quarter. On average, companies in the S&P 500 expect earnings growth per share of no less than 24% on an annual basis.Next week is also full of speeches from the Federal Reserve and other important economic data. For example, the inflation figure is on the agenda for Tuesday. Central bank chairman Jerome Powell kicked off the week with an interview aired Sunday night on CBS News' 60 Minutes. During the interview, Powell reiterated that the Federal Reserve wants inflation to rise above 2% for an extended period of time before the central bank moves to hike interest rates. 

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Today Top Movers

Nuance Communications Inc. (NUAN) stock soared 21.98% to $55.6 in the pre-market trading. Microsoft Corp. is in advanced talks to buy speech-recognition company Nuance Communications Inc. in a deal valued at about $16 billion, according to multiple reports Sunday.

Pintec Technology Holdings Limited (NASDAQ: PT) shares are trading up 29.51% at $1.58 at the time of writing after the company revealed that it is acquiring all of the equity interest in Shenzhen Jishengtai Technology Co. Ltd.

WISeKey International Holding AG (WKEY) grew over 5.97% at $11.18 in pre-market trading today after investing in its supply chain transformation increasing its semiconductor manufacturing capabilities to support exploding demand.

BriaCell Therapeutics Corp. (BCTX), a Biotechnology company, rose about 14.59% at $5.97 in pre-market trading Monday. The firm presented clinical data at the American Association for cancer Research (AACR) Annual Meeting 2021.

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Top Upgrades & Downgrades

Keybanc turned bullish on Westlake Chemical Corporation (WLK), upgrading the stock to "Overweight" and assigning a $124.0 price target, representing potential upside of 38.69% from Friday's close.

Tesla Inc. (TSLA) has won the favor of Canaccord Genuity's equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $1071.

Exxon Mobil Corporation (XOM) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $155. They changed their rating on XOM to Hold from Underperform in a recently issued research note.

Earlier Minday Evercore ISI reduced its rating on QUALCOMM Incorporated (QCOM) stock to In Line from Outperform and assigned the price target to $150.0.

Susquehanna analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Knight-Swift Transportation Holdings Inc. (KNX) has been changed to Neutral from Positive and the new price target is set at $53.

Analysts at Wolfe Research downgraded Occidental Petroleum Corporation (OXY)'s stock to Underperform from Peer Perform Monday.

The "Green Boom" Could Be The Next Big Investor Cash OutSales in the Cannabis sector are set to increase from $10 billion in 2018 to an estimated $97 billion by 2026, according to a new report from Fortune Business Insights...Not only that, current advances in production and distribution technology are boosting margins and bringing huge profits to early investors.Discover why investors are taking notice HERE.

Latest Insider Activity

Envista Holdings Corporation (NVST) Chief Executive Officer Aghdaei Amir announced the sale of shares taking place on Apr 07 at $44.03 for some 70,238 shares. The total came to more than $3.09 million.

AMC Entertainment Holdings Inc. (AMC) SVP DEVELOP & INTERNATIONAL ELLIS DANIEL E sold on Mar 29 a total 91,294 shares at $10.26 on average. The insider’s sale generated proceeds of almost $0.21 million.

Oracle Corporation (ORCL) Director Fairhead Rona Alison declared the purchase of shares taking place on Mar 16 at $67.03 for some 7,712 shares. The transaction amount was around $0.52 million.

Omega Healthcare Investors Inc. (OHI) Director WHITMAN BURKE W bought on Apr 01 a total 18,585 shares at $37.08 on average. The purchase cost the insider an estimated $18,540.

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Important Earnings

Top US earnings releases scheduled for today include BioHiTech Global Inc. (NASDAQ:BHTG). It will announce its Dec 2020 financial results. The company is expected to report earnings of -$0.08 per share from revenues of $1.32M in the three-month period.

Analysts expect Simulations Plus Inc. (NASDAQ:SLP) to report a net income (adjusted) of $0.14 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Feb 2021 is predicted to come in at $12.84M.

MIND Technology Inc. (MIND), due to announce earnings after the market closes today, is expected to report earnings of -$0.07 per share from revenues of $8.78M 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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