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18 Apr - ST - Morning Newsletter (with survey at top and bottom)

4 Stocks You Must Watch Before the Market Opens

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Good Morning!

The trading session on April 13, the main US stock indexes ended in the red. The S&P 500 fell 1.21% to 4393 points, the Nasdaq fell 2.14% and the Dow Jones fell 0.33%. Only the energy sector (+0.42%) and utilities (+0.01%) remained in a small plus. The risky sectors of IT (-2.45%) and communications (-1.82%) turned out to be outsiders.Company news

  • US Bancorp (USB: +4.2%) posted a better-than-expected first-quarter net interest and fee income. There is an increase in lending and a low level of spending.

  • Peloton Interactive (PTON: -4.6%) announced a reduction in the price of exercise equipment and an increase in subscription fees.

  • Wells Fargo (WFC: -4.5%) Q1 report fell short of consensus on net interest and fee income. Expenses exceeded expectations. On the positive side of the release, net interest margin, lending growth and credit metrics.

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Today Top Movers

Borqs Technologies Inc. (BRQS) stock soared 9.58% to $0.2151 in the pre-market trading. The Company has successfully signed a set of revised licensing agreements with Qualcomm, which includes purchasing the 5G patent licensing agreement.

Mullen Automotive Inc. (NASDAQ: MULN) shares are trading up 7.41% at $2.32 at the time of writing after declaring that it plans to begin EV battery pack production out of its high voltage battery R&D facility located in Monrovia, California.

Kintara Therapeutics Inc. (KTRA) grew over 9.25% at $0.3485 in pre-market trading today.The company recently reported the closing of $8.6M registered direct offering.

BitNile Holdings Inc. (NILE), a Capital Markets company, rose about 13.0% at $0.6215 in pre-market trading Monday. The company reported 120% growth in revenues to $52M and ended the year with $490 million in assets.

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Top Upgrades & Downgrades

Morgan Stanley turned bullish on The Gap Inc. (GPS), upgrading the stock to "Equal Weight" and assigning a $14.00 price target.

Zions Bancorporation, National Association (ZION) has won the favor of Baird's equity research team. The firm upgraded the shares from Underperform to Neutral and moved their price target to $60.00.

Biogen Inc. (BIIB) received an upgrade from analysts at Wells Fargo, who also set their one-year price target on the stock to $265.00. They changed their rating on BIIB to Overweight from Equal Weight in a recently issued research note.

Earlier Monday Keybanc reduced its rating on Twitter Inc. (TWTR) stock to Sector Weight from Over weight.

Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Aptiv PLC (APTV) has been changed to Underweight from Neutral and the new price target is set at $90.00.

Analysts at Morgan Stanley downgraded Sirius XM Holdings Inc. (SIRI)'s stock to Underweight from Equal-Weight.

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Latest Insider Activity

ChargePoint Holdings Inc. (CHPT) Director Linse Michael announced the sale of shares taking place on Apr 14 at $16.18 for some 81,173 shares. The total came to more than $1,313,169.

JPMorgan Chase & Co. (JPM) Co-CEO CCB Piepszak Jennifer sold on Apr 14 a total 4,668 shares at $126.19 on average. The insider’s sale generated proceeds of almost $589,051.

OncoCyte Corporation (OCX) 10% Owner BROADWOOD PARTNERS, L.P. declared the purchase of shares taking place on Apr 14 at $1.33 for some 6,003,752 shares. The transaction amount was around $8.0 million.

SentinelOne Inc. (S) Director PEEK MARK S bought on Apr 12 a total of 30,000 shares at $34.40 on average. The purchase cost the insider an estimated $1,032,000.

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Important Earnings

Top US earnings releases scheduled for today include Bank of America Corporation (NYSE:BAC). It will announce its Mar 2022 financial results. The company is expected to report earnings of $0.74 per share from revenues of $23.11B in the three-month period.

Analysts expect The Charles Schwab Corporation (SCHW) to report a net income of $0.84 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2022 is predicted to come in at $4.83B.

Guaranty Bancshares, Inc. (GNTY), due to announce earnings before the market opens today, is expected to report earnings of $0.69 per share from revenues of $29.84M 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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