12 Aug - Morning Newsletter

Good Morning!

Futures on US stock indexes mostly rose slightly on Thursday in anticipation of internal statistics and new company reports, according to trading data.Futures on the Dow Jones Industrial Average (DJIA) grew by 0.13% - up to 35418 points, on the NASDAQ high-tech index - decreased by 0.08%, to 15007.25 points, on the broad market S&P 500 index - rose by 0.03% to 4442 points.Markets on Thursday await weekly statistics on the US labor market. According to analysts, the number of initial applications for unemployment benefits in the United States over the past week fell to 375 thousand from 385 thousand a week earlier.In addition, corporate reporting may affect the sentiment of traders. American companies Palantir Technologies, Airbnb, DoorDash and Walt Disney will report for the last quarter on Thursday.

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Today Top Movers

Powerbridge Technologies Co. Ltd. (PBTS) stock soared 38.58% to $1.76 in the pre-market trading after announcing that it plans to invest and engage in the cryptocurrency mining for Bitcoin (BTC) and Ethereum (ETH) with planned operations globally.

Conifer Holdings Inc. (NASDAQ: CNFR) shares are trading up 33.45% at $3.79 at the time of writing following the release of its results for the second quarter ended June 30, 2021.

Opendoor Technologies Inc. (OPEN) grew over 17.24% at $17.0 in pre-market trading today. The company reported better-than-expected results for the June quarter.

The ExOne Company (XONE), a Specialty Industrial Machinery company, rose about 34.78% at $23.29 in pre-market trading Thursday after declaring a definitive agreement with Desktop Metal pursuant to which Desktop Metal will acquire all of the issued and outstanding shares of ExOne common stock.

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Top Upgrades & Downgrades

Morgan Stanley turned bullish on Silicon Motion Technology Corporation (SIMO), upgrading the stock to Equal-Weight and assigning a $78.00 price target, representing potential upside of 2.73% from Wednesday's close.

CarGurus Inc. (CARG) has won the favor of Needham's equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $38.00, suggesting 29.6% additional upside for the stock.

Canopy Growth Corporation (CGC) received an upgrade from analysts at Jefferies. They changed their rating on CGC to Hold from Underperform in a recently issued research note.

Earlier Thursday Daiwa Capital reduced its rating on Visa Inc. (V) stock to Neutral from Outperform and assigned the price target to $250.00.

Daiwa Capital analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Mastercard Incorporated (MA) has been changed to Neutral from Outperform and the new price target is set at $385.00.

Analysts at Credit Suisse downgraded GoHealth Inc. (GOCO)'s stock to Neutral from Outperform Thursday.

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Latest Insider Activity

Honeywell International Inc. (HON) President & CEO, HCE Dallara Que announced the sale of shares taking place on Aug 10 at $231.28 for some 10,759 shares. The total came to more than $2.49 million.

Twilio Inc. (TWLO) Chief Executive Officer Lawson Jeff sold on Aug 09 a total 41,503 shares at $373.02 on average. The insider’s sale generated proceeds of almost $18.46 million.

McEwen Mining Inc. (MUX) CHIEF FINANCIAL OFFICER Ladd-Kruger Anna Man-Yue declared the purchase of shares taking place on Aug 09 at $1.07 for some 20,000 shares. The transaction amount was around $21400.0.

FireEye Inc. (FEYE) President & COO Watters John P. bought on Aug 10 a total 263,608 shares at $17.82 on average. The purchase cost the insider an estimated $178,188.

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Important Earnings

Top US earnings releases scheduled for today include The Walt Disney Company (NYSE:DIS). It will announce its Jun 2021 financial results. The company is expected to report earnings of $0.56 per share from revenues of $16.8B in the three-month period.

Analysts expect Airbnb Inc. (NASDAQ:ABNB) to report a net income (adjusted) of -$0.48 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2021 is predicted to come in at $1.23B.

DoorDash Inc. (DASH), due to announce earnings after the market closes today, is expected to report earnings of -$0.21 per share from revenues of $1.08B 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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