13 may - NH - Morning Newsletter

Good Morning!

American stock exchanges closed in the red. For the S&P 500 and Nasdaq, the last session was the third in a row to end in the red. Their decline was 2.14% and 2.67%, respectively. The Dow Jones fell 1.99%. The leaders of the correction were the sectors of cyclical consumer goods (-3.28%) and IT (-2.86%). The energy industry was the only one to enter positive territory (+ 0.06%). Against the backdrop of a sharp rise in Treasury yields, "growth" stocks are hit hardest, but defensive and cyclical stocks are under pressure from the dynamics of fixed income assets.Company newsFuboTV (FUBO: + 9.7%) reported for the quarter in line with expectations, improving its forecasts. Analysts note positive dynamics of profitability, and also expect a positive effect from the influx of new users.Array Technologies (ARRY: -46.1%) showed mixed results and did not confirm forecasts due to rising costs, which are weighing on results.SelectQuote (SLQT: -20.1%) also posted mixed results for the quarter, citing higher marketing costs and lower margins. Further forecasts of the company were also uncertain.Technical pictureTechnically, the S&P 500 remains in a long-term uptrend, but is under selling pressure for the short-term. The divergence on the RSI indicator, which created the risk of correction, has fully materialized. Currently, the RSI has dropped below the neutral level, but has not yet reached the oversold zone. Thus, the potential for the continuation of the correction remains. Our baseline scenario assumes that the decline will continue to 3980-4000 points in the S&P 500.

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Today Top Movers

Fuel Tech Inc. (FTEK) stock soared 21.13% to $2.35 in the pre-market trading. The most recent rating by H.C. Wainwright, on March 13, 2020, is a Neutral. Fuel Tech Reports 2021 First Quarter Financial Results.Celyad Oncology SA (NASDAQ: CYAD) shares are trading up 24.11% at $6.59 at the time of writing. Company’s 52-week ranged between $5.25 to $13.01. Analysts have a consensus price target of $48. Celyad Oncology to Present Data from Phase 1 IMMUNICY-1 Trial of Non-Gene Edited Allogeneic CAR T Candidate CYAD-211 in Relapsed/Refractory Multiple Myeloma at the European Hematology Association Virtual Congress.Vertex Energy Inc. (VTNR) grew over 21.01% at $1.67 in pre-market trading today.A-Mark Precious Metals Inc. (AMRK), a Capital Markets company, rose about 14.59% at $45.0 in pre-market trading Thursday. A-Mark Precious Metals Reports Record Fiscal Third Quarter 2021 Results.

The Top 5 Biotech Stocks That Could Double in 2021There's plenty of growth in store for biotech. By 2025, the sector could explode to a value of $720 billion, says Global Market Insights. All thanks to sizable near-term catalysts, including greater demand for better care and innovation, sizable demand for a vaccine, and an aging population of millions. In this free report, we detail five of the "must own" stocks every investor should consider immediately.

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Top Upgrades & Downgrades

Keybanc turned bullish on Pioneer Natural Resources Company (PXD), upgrading the stock to "Overweight" and assigning a $178.0 price target, representing potential upside of 7.46% from Wednesday's close.

Ventas Inc. (VTR) has won the favor of Keybanc's equity research team. The firm upgraded the shares from Underweight to Overweight and moved their price target to $60.0, suggesting -13.14% additional downside for the stock.

Chatham Lodging Trust (CLDT) received an upgrade from analysts at Stifel, who also set their one-year price target on the stock to $14.5. They changed their rating on CLDT to Buy from Hold in a recently issued research note.

Earlier Wednesday Needham reduced its rating on Graybug Vision Inc. (GRAY) stock to Hold from Buy.

Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Lumentum Holdings Inc. (LITE) has been changed to Equal-Weight from Overweight and the new price target is set at $81.0.

Analysts at BMO Capital downgraded Deere & Company (DE)'s stock to Market Perform from Outperform on Thursday.

Gold's Dramatic Rise is Creating a Brand New Batch of Multi-Millionaires Biden's $6 Trillion spending spree is driving gold toward all-time highs. The Smart Money is flowing into a newly-listed $5 gold stock that brilliantly receives a cut of global gold production without any of the risks, or costs, of operating a mine.Learn more here...

Latest Insider Activity

Facebook Inc. (FB) COB and CEO Zuckerberg Mark announced the sale of shares taking place on May 12 at $301.90 for some 52,700 shares. The total came to more than $15.91 million.

Oracle Corporation (ORCL) Executive Chairman ELLISON LAWRENCE JOSEPH sold on May 12 a total 1,138,732,353 shares at $77.33 on average. The insider’s sale generated proceeds of almost $108.26 million.

Univar Solutions Inc. (UNVR) Director Pappas Christopher D declared the purchase of shares taking place on May 12 at $25.71 for some 5,000 shares. The transaction amount was around $0.13 million.

American Homes 4 Rent (AMH) 10% Owner HUGHES B WAYNE ET AL bought on May 12 a total 17,009,407 shares at $36.93 on average. The purchase cost the insider an estimated $1.99 million.

Profit on the Global EV Boom with This #1 InvestmentInvestors are making an absolute killing on the global Electric Vehicle (EV) boom by investing directly in the world's future suppliers of lithium, aka the "white petroleum.” The global lithium battery market is now on pace to eclipse $100 Billion by 2024. Here's a US$0.15 stock that just secured a major lithium asset in a mining region responsible for half of our planet's lithium production.

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Important Earnings

Top US earnings releases scheduled for today include Lucira Health Inc. (NASDAQ:LHDX). It will announce its Mar 2021 financial results. The company is expected to report earnings of -$0.33 per share from revenues of $4.23M in the three-month period.

Analysts expect Bionano Genomics Inc. (NASDAQ:BNGO) to report a net income (adjusted) of -$0.04 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2021 is predicted to come in at $2.9M.

Gevo Inc. (GEVO), due to announce earnings after the market closes today, is expected to report earnings of -$0.04 per share from revenues of $340k 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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