13 Aug - Morning Newsletter

Good Morning!

The stock markets in the United States continue to break records. The S&P 500 rose 0.30% yesterday, closing at 4,460 points, its all-time high. The Dow Jones ended virtually unchanged and the Nasdaq rose 0.35%. The number of unemployment claims last week stood at 375,000, just as expected. It was also announced that producer prices (PPI) rose by 0.9% last month, while an increase of only 0.5% was forecast. The sharp rise in producer prices calls into question the idea from earlier this week that the worst inflation is behind us.Investors' attention was also briefly focused on a number of interesting companies that came up with figures. After the fair, Disney came out with very strong results, with which the company far exceeded expectations on all fronts. Disney's stock rose 5.69% in after-hours trading to $189.50. Shares of Airbnb, however, fell by 4.48% after-hours , after the company warned of uncertain results during its quarterly report due to the delta variant of the corona virus.

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Today Top Movers

BIOLASE Inc. (BIOL) stock soared 39.33% to $0.88 in the pre-market trading after reporting second quarter financial results.

Boxlight Corporation (NASDAQ: BOXL) shares are trading up 23.83% at $2.39 at the time of writing.The company reported an increase of 497% to $46.8 million in revenues in Q2 2021.

CVD Equipment Corporation (CVV) grew over 15.12% at $4.72 in pre-market trading today following the receipt of the first production system order for Nanomaterials used in electric vehicle energy storage.

Moderna Inc. (MRNA), a Biotechnology company, rose about 1.43% at $397.0 in pre-market trading Friday after announcing a new study showing its COVID-19 vaccine maintains antibodies against variants of concern and interest to 6 months.

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Top Upgrades & Downgrades

Mizuho turned bullish on Cimarex Energy Co. (XEC), upgrading the stock to "Buy" and assigning a $95.00 price target, representing potential upside of 45.44% from Friday's close.

Activision Blizzard Inc. (ATVI) has won the favor of Citi's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $105.00.

Banco Bilbao Vizcaya Argentaria S.A. (BBVA) received an upgrade from analysts at Berenberg. They changed their rating on BBVA to Hold from Sell in a recently issued research note.

Earlier Friday Cowen & Co. reduced its rating on ContextLogic Inc (WISH) stock to Market Perform from Outperform and assigned the price target to $10.00.

Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Cricut Inc. (CRCT) has been changed to Underweight from Equal Weight and the new price target is set at $29.00.

Analysts at HSBC downgraded KE Holdings Inc. (BEKE)'s stock to Hold from Buy Friday.

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Latest Insider Activity

Nikola Corporation (NKLA) 10% Owner Milton Trevor R. announced the sale of shares taking place on Aug 12 at $10.00 for some 1,259,890 shares. The total came to more than $12.6 million.

TherapeuticsMD Inc. (TXMD) Chief Financial Officer DArecca James sold on Aug 12 a total 123,830 shares at $0.87 on average. The insider’s sale generated proceeds of almost $81203.0.

Cohu Inc. (COHU) Director JORDEN YON declared the purchase of shares taking place on Aug 12 at $30.89 for some 3,000 shares. The transaction amount was around $92670.0.

SuRo Capital Corp. (SSSS) Director LOTT RONALD M. bought on Aug 10 a total 10,675 shares at $15.57 on average. The purchase cost the insider an estimated $5,060.

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Important Earnings

Top US earnings releases scheduled for today include Jaguar Health Inc. (NASDAQ:JAGX). It will announce its Jun 2021 financial results. The company is expected to report earnings of -$0.03 per share from revenues of $7.28M in the three-month period.

Analysts expect Superior Drilling Products, Inc. (SDPI) to report a net income (adjusted) of -$0.03 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2021 is predicted to come in at $2.97M.

The Honest Company Inc. Common Stock (HNST), due to announce earnings after the market closes today, is expected to report earnings of -$0.14 per share from revenues of $79.52M 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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