15 June - morning newsletter

Good Morning!

Another record for most stock exchanges in the US.The S&P 500 closed 0.18% higher at 4,255 points. The Nasdaq 100 also rose to a new all-time high. The tech exchange closed 0.93% higher on Monday, finishing the day at 14,128 points. The strongest stocks in the index were Marvell and Adobe. Heavyweight Apple was also up 2.46%. The Dow Jones had a somewhat lesser day. Unlike the other two, the index closed 0.25% lower at 34,393 points. Financial stocks weighed the most on the Dow. JPMorgan fell 1.70% after the CEO said in an interview yesterday that trading revenues would be around $6 billion. That would represent a decrease of more than 35% compared to last year. 

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Today Top Movers

Ampio Pharmaceuticals Inc. (AMPE) stock soared 34.44% to $2.42 in the pre-market trading. The company received regulatory approval to expand enrollment of its AP-019 phase II study to India.

Torchlight Energy Resources Inc. (NASDAQ: TRCH) shares are trading up 31.84% at $4.72 at the time of writing after declaring a special dividend of new series a preferred.

Clean Energy Fuels Corp. (CLNE) grew over 8.06% at $12.07 in pre-market trading today. The company declared its investment plans to develop renewable natural gas (RNG) from dairies and other agricultural facilities at its AGM.

OpGen Inc. (OPGN), a Diagnostics & Research company, rose about 18.78% at $2.53 in pre-market trading Tuesday.

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Top Upgrades & Downgrades

JPMorgan turned bullish on W. P. Carey Inc. (WPC), upgrading the stock to "Overweight" and assigning a $88.00 price target.

Compania Cervecerias Unidas S.A. (CCU) has won the favor of JPMorgan's equity research team. The firm upgraded the shares from Underweight to Neutral and moved their price target to $20.60.

Spirit Airlines Inc. (SAVE) received an upgrade from analysts at Citi, who also set their one-year price target on the stock to $42.00. They changed their rating on SAVE to Buy from Neutral in a recently issued research note.

Earlier Tuesday Piper Sandler reduced its rating on Principal Financial Group Inc. (PFG) stock to Neutral from Overweight and assigned the price target to $70.00.

Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Fastenal Company (FAST) has been changed to Underweight from Equal Weight and the new price target is set at $48.00.

Analysts at JPMorgan downgraded Broadstone Net Lease Inc. (BNL)'s stock to Neutral from Overweight Tuesday.

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Latest Insider Activity

Senseonics Holdings Inc. (SENS) President and CEO Goodnow Timothy T announced the sale of shares taking place on Jun 10 at $3.60 for some 380,710 shares. The total came to more than $1.37 million.

Riot Blockchain Inc. (RIOT) Chief Executive Officer Les Jason sold on Jun 10 a total 237,777 shares at $31.27 on average. The insider’s sale generated proceeds of almost $1.56 million.

Corning Incorporated (GLW) Director Ferguson Roger W. Jr. declared the purchase of shares taking place on Jun 14 at $42.14 for some 1,420 shares. The transaction amount was around $59839.0.

Evofem Biosciences Inc. (EVFM) Director O'Brien Anthony Stephen bought on Jun 14 a total 8,140 shares at $1.31 on average. The purchase cost the insider an estimated $10,663.

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Important Earnings

Top US earnings releases scheduled for today include Oracle Corporation (NYSE:ORCL). It will announce its May 2021 financial results. The company is expected to report earnings of $1.31 per share from revenues of $11.04B in the three-month period.

Analysts expect H&R Block Inc. (NYSE:HRB) to report a net income (adjusted) of $5.13 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Apr 2021 is predicted to come in at $2.35B.

Azure Power Global Limited (AZRE), due to announce earnings after the market closes today, is expected to report earnings of $0.08 per share from revenues of $59.88M 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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