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- 17 Nov - Morning Newsletter (with changes)
17 Nov - Morning Newsletter (with changes)
Pre Market Report: 17 November 2021
Good Morning!
Bidding on November 16 at the main US stock markets ended in the green zone. The S&P 500 Index added 0.39%, reaching 4,700 points. The Nasdaq was the top gainer, gaining 0.76% while the Dow Jones climbed 0.15%. Cyclical consumer goods (+ 1.38%) outperformed the market as a whole, supported by the positive dynamics of Tesla (TSLA: + 4.08%) after the recent correction. Semiconductor stocks pushed the tech sector up 1.07%. The outsiders were issuers from the real estate industry (-0.65%) and utility companies (-0.56%).The S&P 500 is hovering near the upper border of the rising channel. The MACD indicator assumes the possibility of correction, showing a signal for a reversal. The RSI has come out of the overbought zone, which indicates a decrease in the activity of the “bulls”. The nearest support level is in the 50-day moving average at 4500 points.
Biden Warns: China Could "Eat Our Lunch" When it Comes to Lithium
Pres. Biden recently warned about China's dominance when it comes to lithium demand, stating, "if we don't get moving, they're going to eat our lunch." One junior mining company in South America is looking to become a strong link in the lithium supply chain due to a monster acquisition.
Today Top Movers
Rockwell Medical Inc. (RMTI)
stock soared 43.6% to $0.691 in the pre-market trading. The most recent rating by Piper Jaffray, on June 24, 2019, is an Overweight. Rockwell Medical Study Demonstrates No Drug-drug Interaction Between Ferric Pyrophosphate Citrate and Unfractionated Heparin.
Ensysce Biosciences Inc. (NASDAQ: ENSC)
shares are trading up 23.43% at $1.87 at the time of writing after the firm reported financial results for the third quarter of 2021 and recent corporate updates.. Company’s 52-week ranged between $2.07 to $23.99.
Asia Pacific Wire & Cable Corporation Limited (APWC)
grew over 16.42% at $3.12 in pre-market trading today. Asia Pacific Wire & Cable Corporation Ltd. Reports Second Quarter 2021 Financial Results.
Vir Biotechnology Inc. (VIR)
, a Biotechnology company, rose about 8.62% at $36.3 in pre-market trading Wednesday. The firm announced US government contracts totaling approximately $1 billion1 (USD) to purchase sotrovimab, an investigational monoclonal antibody for the early treatment of COVID-19.
Quickest Path to Riches in the 2021 Gold Bull Market Revealed
Gold is booming and smart investors are already cashing in on the #1 Gold Investment of 2021. Yet, you haven't missed the boat. As the Biden administration blows up the federal deficit with $6 Trillion in spending, gold will be the biggest beneficiary as inflation soars.
Top Upgrades & Downgrades
Cowen & Co. turned bullish on Workday Inc. (WDAY), upgrading the stock to Outperform and assigning a $350.00 price target, representing potential upside of 14.33% from Wednesday's close.
JetBlue Airways Corporation (JBLU) has won the favor of Exane BNP Paribas's equity research team. The firm upgraded the shares from Underperform to Neutral and moved their price target to $17.00, suggesting 12.41% additional upside for the stock.
Compass Minerals International Inc. (CMP) received an upgrade from analysts at BMO Capital, who also set their one-year price target on the stock to $55.00. They changed their rating on CMP to Market Perform from Underperform in a recently issued research note.
Earlier B of A Securities reduced its rating on Radian Group Inc. (RDN) stock to Underperform from Buy and assigned the price target to $22.5.
Wells Fargo analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Choice Hotels International Inc. (CHH) has been changed to Equal-Weight from Overweight and the new price target is set at $155.00.
Analysts at B of A Securities downgraded Sea Limited (SE)'s stock to Neutral from Buy on Wednesday.
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Latest Insider Activity
Tesla Inc. (TSLA) CEO Musk Elon announced the sale of shares taking place on Nov 16 at $1046.73 for some 724,403 shares. The total came to more than $758.25 million.
Affirm Holdings Inc. (AFRM) Director Philips Jeremy sold on Nov 15 a total 753,726 shares at $150.00 on average. The insider’s sale generated proceeds of almost $1.65 million.
Uber Technologies Inc. (UBER) Chief Executive Officer KHOSROWSHAHI DARA declared the purchase of shares taking place on Nov 15 at $44.92 for some 200,000 shares. The transaction amount was around $8.98 million.
Boston Scientific Corporation (BSX) Director WICHMANN DAVID S bought on Nov 15 a total 25,000 shares at $41.98 on average. The purchase cost the insider an estimated $1.05 million.
Forbes mag says this strategy "like finding money in the street"
And Reuters magazine calls this type of trading "the new baby boomer hobby." An anonymous trader -- living at the base of the Smoky Mountains -- just released a free report revealing a step-by-step system to generating an extra $5,000 per month in income thanks to this trading strategy. The report is free until Sunday.
Important Earnings
Top US earnings releases scheduled for today include Baidu Inc. (NASDAQ:BIDU). It will announce its Sep 2021 financial results. The company is expected to report earnings of $2 per share from revenues of $4.96B in the three-month period.
Analysts expect Target Corporation (NYSE:TGT) to report a net income (adjusted) of $2.83 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2021 is predicted to come in at $24.78B.
Meritor Inc. (MTOR), due to announce earnings after the market closes today, is expected to report earnings of $0.49 per share from revenues of $975.83M 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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