14 Oct - Morning Newsletter (with changes)

Good Morning!

Yesterday, the stock markets in New York managed to break through a three-day period of losses. Investors processed the inflation report, among other things. US consumer prices (CPI) rose 0.4% month-on-month in September. The year-on-year increase thus amounted to 5.4% and of course the increased energy prices have played an important part in this. Without taking into account food and energy prices, this was still an increase of 0.2% on a monthly basis and 4% on an annual basis.Inflation is therefore still well above the 2% that the central banks usually maintain. Meanwhile, the Fed and economists remain hesitant about the temporary or permanent effect of the price increases. The minutes of the last Fed meeting last night showed that the US central bank may start phasing out the support program in mid-November. This will most likely involve the reduction of purchases by $10 billion per month. Currently, the Fed buys up about $120 billion in bonds each month. About $80 billion of that goes to government bonds and $40 billion is used for mortgage-backed securities.The S&P 500 index closed 0.30% higher at 4,363 points. The technology exchange, the Nasdaq, even rose by 0.73% to 14,571 points. However, the index is still in a downtrend channel. An outbreak is needed to start a bigger recovery.

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Today Top Movers

Cemtrex Inc. (CETX) stock soared 26.57% to $1.31 in the pre-market trading. The company recently provided a corporate update on its business operations, financials and industry outlook.

TSR Inc. (NASDAQ: TSRI) shares are trading up 37.6% at $12.65 at the time of writing after reporting 57.5% increase in Q1 2022 revenues from Q1 2021.

Taiwan Semiconductor Manufacturing Company Limited (TSM) grew over 3.25% at $113.55 in pre-market trading today. The company pioneered the pure-play foundry business model when it was founded in 1987, and has been the world’s leading dedicated semiconductor foundry ever since.

Esports Entertainment Group Inc. (GMBL), a Gambling company, rose about 18.73% at $7.86 in pre-market trading Thursday. The company reported Q4 revenue up 63% over Q3 to $8.8 million.

"The biggest crash in world history is coming." - Robert KiyosakiThe constant warnings from analysts have to do with the accelerated inflation and overvalued market. Almost 20% of all US dollars were created in 2020 alone. Isn't that a strong indicator of inflation? And if you believe that now isn't the time to protect yourself and your family, when will it be?

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Top Upgrades & Downgrades

Raymond James turned bullish on Perrigo Company plc (PRGO), upgrading the stock to Outperform and assigning a $59.00 price target, representing potential upside of 31.49% from Wednesday's close.

National Vision Holdings Inc. (EYE) has won the favor of Morgan Stanley's equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $70.00, suggesting 24.4% additional upside for the stock.

Meritage Homes Corporation (MTH) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $143.00. They changed their rating on MTH to Overweight from Neutral in a recently issued research note.

Earlier Thursday Morgan Stanley reduced its rating on Bed Bath & Beyond Inc. (BBBY) stock to Underweight from Equal-Weight and assigned the price target to $12.00.

JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that its rating for M.D.C. Holdings Inc. (MDC) has been changed to Neutral from Overweight and the new price target is set at $66.00.

Analysts at Morgan Stanley downgraded ACADIA Pharmaceuticals Inc. (ACAD)'s stock to Equal-Weight from Overweight Thursday.

Tiny Biotech Creates $2 Trillion DrugThe Wall Street Journal reports new treatment is "transforming medicine."Bill Gates writes that it could "help humanity."Ark Investments think it could be a "$2 trillion market."And one small company owns the patent on it.This unknown biotech's stock is set to surge 46,751% >>>

Latest Insider Activity

Facebook Inc. (FB) COB and CEO Zuckerberg Mark announced the sale of shares taking place on Oct 13 at $324.85 for some 52,700 shares. The total came to more than $17.12 million.

Twitter Inc. (TWTR) Chief Financial Officer SEGAL NED D. sold on Oct 12 a total 577,269 shares at $61.86 on average. The insider’s sale generated proceeds of almost $0.31 million.

DigitalBridge Group Inc. (DBRG) 10% Owner LANDMARK DIVIDEND LLC declared the purchase of shares taking place on Oct 11 at $16.42 for some 452,158 shares. The transaction amount was around $7.43 million.

Independence Contract Drilling Inc. (ICD) 10% Owner MONROE WILLIAM bought on Oct 08 a total 1,400,000 shares at $3.69 on average. The purchase cost the insider an estimated $110,800.

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Important Earnings

Top US earnings releases scheduled for today include Alcoa Corporation (NYSE:AA). It will announce its Sep 2021 financial results. The company is expected to report earnings of $1.8 per share from revenues of $2.93B in the three-month period.

Analysts expect Washington Federal Inc. (NASDAQ:WAFD) to report a net income (adjusted) of $0.63 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2021 is predicted to come in at $130.49M.

Duck Creek Technologies Inc. (DCT), due to announce earnings after the market closes today, is expected to report earnings of $0.01 per share from revenues of $69.09M 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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