16 Jul - morning newsletter

4 Hot Stock Rallies Following Key Update

July 16, 2021

Good Morning!

Futures for major US stock indexes are showing positive dynamics on Friday in anticipation of statistics on retail sales in the US, according to trading data.Futures on the Dow Jones Industrial Average (DJIA) grew by 0.16%, to 34,924.5 points, on the NASDAQ high-tech index - by 0.15%, to 14,809.38 points, futures on the broad market index S&P 500 - climbed 0.16% to 4359.12 points.Markets on Friday await retail data from the US Department of Commerce, which will be published before the markets open. Analysts predict that retail sales in the United States fell 0.4% in June versus May after falling 1.3% a month earlier.In addition, the markets continue to react with optimism to the statements of the head of the Fed, Jerome Powell. He believes that it is still far from significant progress on employment and inflation, which would allow starting to reduce support for the economy.

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Today Top Movers

ION Geophysical Corporation (IO) stock soared 36.6% to $2.09 in the pre-market trading after reporting preliminary second quarter 2021 revenues of $20 million, an increase of 40% sequentially.

Aehr Test Systems (NASDAQ: AEHR) shares are trading up 21.35% at $3.41 after releasing financial results for its fiscal 2021 fourth quarter and full year ended May 31, 2021. Net sales were $7.6 million, up 102% from $3.8 million in the fourth quarter of fiscal 2020.

Moderna Inc. (MRNA) grew over 7.63% at $279.5 in pre-market trading today. The company reported that it will replace Alexion Pharmaceuticals Inc. (ALXN) in the S&P 500 effective prior to the opening of trading on Wednesday, July 21.

TD Holdings Inc. (GLG), a Rental & Leasing Services company, rose about 13.07% at $0.918 in pre-market trading Friday after revealing entry into a non-binding letter of intent for the acquisition of two Companies to step into unmanned logistics and new energy vehicle industry.

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Top Upgrades & Downgrades

Morgan Stanley turned bullish on Plains GP Holdings L.P. (PAGP), upgrading the stock to Overweight and assigning a $13.00 price target, representing potential upside of 21.61% from Friday's close.

Plains All American Pipeline L.P. (PAA) 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 $13.00, suggesting 27.33% additional upside for the stock.

NOW Inc. (DNOW) received an upgrade from analysts at Stifel, who also set their one-year price target on the stock to $12.00. They changed their rating on DNOW to Buy from Hold in a recently issued research note.

Earlier Friday Stifel reduced its rating on FibroGen Inc. (FGEN) stock to Hold from Buy and assigned the price target to $29.00.

BMO Capital analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Domtar Corporation (UFS) has been changed to Market Perform from Outperform and the new price target is set at 55.5.

Analysts at Morgan Stanley downgraded Tencent Music Entertainment Group (TME)'s stock to Equal-Weight from Overweight Friday.

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Latest Insider Activity

Carvana Co. (CVNA) 10% Owner GARCIA ERNEST C. II announced the sale of shares taking place on Jul 13 at $324.24 for some 60,000 shares. The total came to more than $19.45 million.

RingCentral Inc. (RNG) SVP, CAO & General Counsel Marlow John H sold on Jul 13 a total 7,750 shares at $285.77 on average. The insider’s sale generated proceeds of almost $0.19 million.

Old Republic International Corporation (ORI) Director KOVALESKI CHARLES J declared the purchase of shares taking place on Jul 14 at $24.61 for some 250 shares. The transaction amount was around $6152.0.

Anixa Biosciences Inc. (ANIX) Director Titterton Lewis H jr bought on Jul 14 a total 893,626 shares at $3.72 on average. The purchase cost the insider an estimated $86,676.

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Important Earnings

Top US earnings releases scheduled for today include Autoliv Inc. (NYSE:ALV). It will announce its Jun 2021 financial results. The company is expected to report earnings of $1.43 per share from revenues of $2.12B in the three-month period.

Analysts expect First Horizon Corporation (NYSE:FHN) to report a net income (adjusted) of $0.43 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2021 is predicted to come in at $771.08M.

Kansas City Southern (KSU), due to announce earnings before the market opens today, is expected to report earnings of $2.19 per share from revenues of $750.77M 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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