15 Jul - morning newsletter

Good Morning!

American stock indices closed mixed on Wednesday after the speech of the chairman of the Federal Reserve System Jerome Powell, in which he said that inflation in the United States will slow down over time, and the central bank plans to adhere to the previous monetary policy.The S&P 500 and Dow Jones Industrial Average fluctuated between rallies and losses during volatile trading, closing below intraday highs.The S&P 500 added 5.09 points, or 0.1%, to 4374.30 points, while the DJIA rose 44.44 points, or 0.1%, to 34933.23 points. Meanwhile, the Nasdaq Composite fell 32.70 points, or 0.2%, to 14644.95 points for its second consecutive day of decline.

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Today Top Movers

Alterity Therapeutics Limited (ATHE) stock soared 26.62% to $1.76 in the pre-market trading. The company revealed that Movement Disorders, the official journal of the International Parkinson and Movement Disorder Society, has published results from a study demonstrating that ATH434 reduces α- synuclein related neurodegeneration in a widely accepted murine model of Multiple System Atrophy (MSA).

Verb Technology Company Inc. (NASDAQ: VERB) shares are trading up 21.69% at $3.03 at the time of writing after announcing a partnership with SHOP.COM, to launch SHOP LIVE, a customized, interactive and live-streaming channel unique to each of Market America Worldwide’s global distributors, known as UnFranchise Owners (UFOs).

Datasea Inc. (DTSS) grew over 19.35% at $4.75 in pre-market trading today after reporting that its wholly-owned subsidiary entered Into several purchase and distribution agreements and further enhanced 5G messaging product availability in China.

Arlo Technologies Inc. (ARLO), a Security & Protection Services company, rose about 16.25% at $6.94 in pre-market trading Thursday. The company announced that it will hold a conference call with investors and analysts on Wednesday, August 4, 2021, at 5:00 p.m. ET (2:00 p.m. PT) to discuss the Company’s second quarter 2021 results.

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Top Upgrades & Downgrades

Jefferies turned bullish on The Macerich Company (MAC), upgrading the stock to "Hold" from Underperform.

Delta Air Lines Inc. (DAL) has won the favor of Raymond James' equity research team. The firm upgraded the shares from Market Perform to Strong Buy and moved their price target to $58.00, suggesting 42.57% additional upside for the stock.

Continental Resources Inc. (CLR) received an upgrade from analysts at MKM Partners, who also set their one-year price target on the stock to $46.00. They changed their rating on CLR to Buy from Neutral in a recently issued research note.

Earlier Thursday Keybanc reduced its rating on First Industrial Realty Trust Inc. (FR) stock to Sector Weight from Overweight.

Barclays analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Welbilt Inc. (WBT) has been changed to Equal Weight from Overweight and the new price target is set at $0.00.

Analysts at Goldman Sachs downgraded KnowBe4 Inc. (KNBE)'s stock to Neutral from Buy Thursday.

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Latest Insider Activity

Pinterest Inc. (PINS) Chairman, President, CEO, Co-F Silbermann Benjamin announced the sale of shares taking place on Jul 14 at $71.02 for some 25,000 shares. The total came to more than $1.78 million.

Amicus Therapeutics Inc. (FOLD) Chairman & CEO Crowley John F sold on Jul 12 a total 862,345 shares at $9.31 on average. The insider’s sale generated proceeds of almost $0.14 million.

Smartsheet Inc. (SMAR) CFO & Treasurer Godbole Pete declared the purchase of shares taking place on Jul 06 at $76.10 for some 1,400 shares. The transaction amount was around $0.11 million.

Vista Gold Corp. (VGZ) Director Eppler William Durand bought on Jul 13 a total 437,479 shares at $0.88 on average. The purchase cost the insider an estimated $44,210.

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Important Earnings

Top US earnings releases scheduled for today include Alcoa Corporation (NYSE:AA). It will announce its Jun 2021 financial results. The company is expected to report earnings of $1.34 per share from revenues of $2.64B in the three-month period.

Analysts expect People's United Financial Inc. (NASDAQ:PBCT) to report a net income (adjusted) of $0.35 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2021 is predicted to come in at $496.17M.

Controladora Vuela Compania de Aviacion S.A.B. de C.V. (VLRS), due to announce earnings after the market closes today, is expected to report earnings of -$0.07 per share from revenues of $406.88M 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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