14 Jul - morning newsletter

These 4 Stocks are ready to move!

July 14, 2021

Good Morning!

US Inflation report was presented for the month of June, yesterday. The CPI index, which measures inflation, has increased by only 0.9% compared to the month of May. As a result, inflation has risen by 5.4% year on year. This is the largest increase in more than a decade. This immediately translated into a higher gold price, higher dollar price and also lower stock prices. Wall Street knows that if inflation continues, the Fed has no choice but to raise interest rates. This would push the pause button of the rally.US indices were up, but fell after the release of the CPI index. The S&P 500 lost 0.35% and closed at 4,369. The Nasdaq 100 closed near status quo at 14,874 points and the Dow lost 0.31%, ending the day at 34,888 points. Shares JPMorgan Chase and Goldman Sachs are seeing their shares fall despite good quarterly figures. JPMorgan fell 1.49% and Goldman Sachs lost 1.19%. It must be said that financials are outperforming the broad S&P 500 this year by 9%. The take-away from the quarterly presentation is that costs are rising and there is some uncertainty surrounding the opening of the economy due to COVID-19 variants.

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Today Top Movers

Nokia Corporation (NOK) stock surged 0.17% to $5.89 in the pre-market trading. The company received an upgrade from JP Morgan. They changed their rating on NOK to Overweight from Neutral with a $7.8 price target in a recently issued research note.

Oxbridge Re Holdings Limited (NASDAQ: OXBR) shares are trading up 24.78% at $4.18 at the time of writing after Custodian Ventures declared 9.9% ownership interest in Oxbridge Re Holdings Limited.

Energous Corporation (WATT) grew over 6.87% at $2.49 in pre-market trading today after announcing the availability of its 5.5W Active Energy Harvesting Developer Kit, to enable at-a-distance wireless charging for the growing ecosystem of industrial Internet of Things and other connected devices.

Sundial Growers Inc. (SNDL), a Drug Manufacturers - Specialty & Generic company, rose about 4.54% at $0.9147 in pre-market trading Wednesday.

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Top Upgrades & Downgrades

Nokia Corporation (NOK) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $7.8. They changed their rating on NOK to Overweight from Neutral in a recently issued research note.

Baird turned bullish on AdaptHealth Corp. (AHCO), upgrading the stock to "Outperform" and assigning a $36.00 price target.

Greenhill & Co., Inc. (GHL) has won the favor of Keefe, Bruyette & Woods' equity research team. The firm upgraded the shares from Underperform to Market Perform and moved their price target to $15.5, suggesting 5.44% additional upside for the stock.

Earlier Wednesday Wolfe Research reduced its rating on Delek US Holdings, Inc. (DK) stock to Peer Perform from Outperform and moved their price target to $20.

Kepler Cheuvreux analysts reduced their investment ratings, saying in research reports covered by the media that its rating for QIAGEN N.V. (QGEN) has been changed to Hold from Buy.

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Latest Insider Activity

SMART Global Holdings Inc. (SGH) 10% Owner Silver Lake (Offshore) AIV GP announced the sale of shares taking place on Jul 13 at $50.50 for some 3,000,000 shares. The total came to more than $151.5 million.

ZoomInfo Technologies Inc. (ZI) 10% Owner TC Group Cayman Investment Hol sold on Jul 12 a total 62,339 shares at $52.72 on average. The insider’s sale generated proceeds of almost $3.29 million.

Pulmonx Corporation (LUNG) Director Florin Daniel P declared the purchase of shares taking place on Jul 12 at $40.00 for some 2,500 shares. The transaction amount was around $100000.0.

Super League Gaming Inc. (SLGG) Director Keller Michael R bought on Jul 12 a total 137,301 shares at $4.87 on average. The purchase cost the insider an estimated $97,400.

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Important Earnings

Top US earnings releases scheduled for today include Wells Fargo & Company (NYSE:WFC). It will announce its Jun 2021 financial results. The company is expected to report earnings of $0.97 per share from revenues of $17.75B in the three-month period.

Analysts expect Citigroup Inc. (NYSE:C) to report a net income (adjusted) of $1.96 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2021 is predicted to come in at $17.2B.

Cinedigm Corp. (CIDM), due to announce earnings after the market closes today, is expected to report earnings of -$0.05 per share from revenues of $7.71M 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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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.