12 may - NH - Morning Newsletter

4 Best Performing Stocks That Can't Be Ignored

May 12, 2021

Good Morning!

In the United States, double split is seen on the stock exchanges in New York for some time. The Nasdaq has been moving in a broad bandwidth since February, while the S&P 500 has managed to hit a new all-time high over and over again in recent weeks. The divergence of value and growth stocks has to do with the reopening of the economy and the rise in inflation expectations. For fear of higher inflation, US interest rates have already risen sharply this year. These higher interest rates are disadvantageous for growth companies, because they may lower future profits.On Monday, Wall Street had its worst day since February and the Nasdaq crashed twice as hard, but yesterday it was the other way around. The S&P 500 lost 0.87% to 4,152 points and the Nasdaq limited damage with a loss of only 0.09% to 13,389 points. Technology stocks made a clear turn, after a hefty opening loss, some major tech funds closed in the green. The increase in volatility has pushed the VIX index to its two-month high, reaching nearly 24.Today will be an exciting day for investors as the US government releases the official inflation rate. The April consumer price index is expected to rise 0.2% from the previous month, representing an increase of 3.6% from last year. This rise in the consumer price index is said to be the largest since September 2011. Investors are apparently concerned about the impending inflation, but Fed Chairman Jerome Powell has repeatedly emphasized that it will be a temporary rebound in inflation. The US central bank does not want to increase interest rates until at least 2024, but if inflation rises too fast, the Fed will have to intervene to prevent the economy from overheating. 

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Today Top Movers

Minerva Neurosciences Inc. (NERV) stock soared 30.04% to $2.9 in the pre-market trading. The most recent rating by H.C. Wainwright, on June 08, 2020, is a Buy. Minerva Neurosciences Announces the Results of the Phase 3 Trial of Roluperidone for the Treatment of Negative Symptoms of Schizophrenia Following the Completion of the 40-Week Open-Label Extension.Biomerica Inc. (NASDAQ: BMRA) shares are trading up 24.34% at $4.24 at the time of writing. Company’s 52-week ranged between $4.11 to $12.75. Analysts have a consensus price target of $13. Biomerica’s Fast 15-Minute Easy to Use COVID-19 Antigen Test Now Available With Simple Nasal Swab.fuboTV Inc. (FUBO) grew over 18.34% at $20.91 in pre-market trading today. fuboTV Delivered Record $119.7M Revenue, Grew Total Subscribers to 590K in Q1 2021; Increases 2021 Guidance.Upstart Holdings Inc. (UPST), a Credit Services company, rose about 20.81% at $108.05 in pre-market trading Wednesday. Upstart Announces First Quarter 2021 Results.

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Top Upgrades & Downgrades

Raymond James turned bullish on Casa Systems Inc. (CASA), upgrading the stock to "Market Perform".

Rackspace Technology Inc. (RXT) has won the favor of Raymond James's equity research team. The firm upgraded the shares from Outperform to Strong Buy.

Phathom Pharmaceuticals Inc. (PHAT) received an upgrade from analysts at Goldman Sachs, who also set their one-year price target on the stock to $48.0. They changed their rating on PHAT to Neutral from Sell in a recently issued research note.

Earlier Tuesday Deutsche Bank reduced its rating on Grocery Outlet Holding Corp. (GO) stock to Hold from Buy and assigned the price target to $37.0. With shares trading at around $40.54, the Wall Street firm thinks Grocery Outlet Holding Corp.'s stock could decline more than 14.23%.

Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Bright Scholar Education Holdings Limited (BEDU) has been changed to Underweight from Equal-Weight and the new price target is set at $2.7.

Analysts at JP Morgan downgraded Ferro Corporation (FOE)'s stock to Underweight from Neutral on Wednesday.

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Latest Insider Activity

The Blackstone Group Inc. (BX) Executive Vice Chairman JAMES HAMILTON E announced the sale of shares taking place on May 11 at $87.78 for some 194,737 shares. The total came to more than $17.09 million.

Murphy Oil Corporation (MUR) Senior Vice President MIRELES THOMAS J sold on May 11 a total 32,669 shares at $19.41 on average. The insider’s sale generated proceeds of almost $0.19 million.

Elanco Animal Health Incorporated (ELAN) Director GARCIA ART A declared the purchase of shares taking place on May 11 at $32.88 for some 1,525 shares. The transaction amount was around $50142.0.

SuRo Capital Corp. (SSSS) CEO and President Klein Mark D bought on May 11 a total 450,350 shares at $14.34 on average. The purchase cost the insider an estimated $42,303.

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Important Earnings

Top US earnings releases scheduled for today include ContextLogic Inc. (NASDAQ:WISH). It will announce its Mar 2021 financial results. The company is expected to report earnings of -$0.18 per share from revenues of $743.09M in the three-month period.

Analysts expect PLBY Group Inc. (NASDAQ:PLBY) to report a net income (adjusted) of $0 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2021 is predicted to come in at $38.47M.

MannKind Corporation (MNKD), due to announce earnings after the market closes today, is expected to report earnings of -$0.04 per share from revenues of $15.66M 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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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.