18 Aug - NH - Morning Newsletter

Good Morning!

There was a decline in US stocks yesterday. At the end of the regular trading day we did see a strong recovery, but nevertheless the S&P 500 closed 0.71 % in the red with a closing price of 4,448 points. Nasdaq 100 went down 0.91% and closed at a sloppy 15,002 points. The oldest US stock index, the Dow Jones Industrial Average, fell 0.79%. After such a volatile day, it is always helpful to see what the futures have been up to outside of regular trading hours. At first glance, all three futures appear to have remained fairly stable. This signals that it is possible that US indices will recover somewhat today. What is striking is the behavior of the Russell 2000. This index contains the American small & mid caps. We can clearly see that the index has been moving sideways since March. While the other major US indices continue to see higher highs and lows. This divergence could be a warning shot that a larger correction is not out of the question in the coming weeks and months.

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Today Top Movers

Virpax Pharmaceuticals Inc. (VRPX) stock soared 67.75% to $25.75 in the pre-market trading after receiving FDA response and guidance on MMS019.

Protagenic Therapeutics Inc. (NASDAQ: PTIX) shares are trading up 12.78% at $2.03 at the time of writing after releasing results for the second quarter ended June 30, 2021.

Meten EdtechX Education Group Ltd. (METX) grew over 16.43% at $0.6022 in pre-market trading today. The company recentlyreported increase second quarter revenue of 8.2% year-on-year to US$31.7 million.

TD Holdings Inc. (GLG), a Rental & Leasing Services company, rose about 34.2% at $0.9931 in pre-market trading Wednesday after reporting total revenue of $59.84 million for the quarter ended June 30, 2021, an increase of 2981% from $1.94 million for the same quarter ended June 30, 2020.

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Top Upgrades & Downgrades

Cowen & Co. turned bullish on Centennial Resource Development Inc. (CDEV), upgrading the stock to Market Perform and assigning a $5.75 price target.

ViacomCBS Inc. (VIAC) has won the favor of Wells Fargo's equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $60.00.

BlackBerry Limited (BB) received an upgrade from analysts at Canaccord Genuity. They changed their rating on BB to Hold from Sell in a recently issued research note.

Earlier Wednesday Raymond James reduced its rating on STORE Capital Corporation (STOR) stock to Market Perform from Outperform.

Raymond James analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Four Corners Property Trust Inc. (FCPT) has been changed to Outperform from Strong Buy and the new price target is set at $30.00.

Analysts at JP Morgan downgraded Orchard Therapeutics plc (ORTX)'s stock to Neutral from Overweight Wednesday.

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Latest Insider Activity

Infinera Corporation (INFN) Chief Accounting Officer Fernicola Michael H announced the sale of shares taking place on Aug 17 at $8.49 for some 447 shares. The total came to more than $3795.0.

Facebook Inc. (FB) VP and General Counsel Newstead Jennifer sold on Aug 17 a total 12,188 shares at $362.60 on average. The insider’s sale generated proceeds of almost $90650.0.

Ashford Hospitality Trust Inc. (AHT) President and CEO Hays J Robison III declared the purchase of shares taking place on Aug 16 at $13.54 for some 7,500 shares. The transaction amount was around $0.1 million.

Shell Midstream Partners L.P. (SHLX) Vice President, Commercial Guillory Sean bought on Aug 16 a total 1,399 shares at $12.38 on average. The purchase cost the insider an estimated $17,316.

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Important Earnings

Top US earnings releases scheduled for today include NVIDIA Corporation (NASDAQ:NVDA). It will announce its Jul 2021 financial results. The company is expected to report earnings of $1.02 per share from revenues of $6.33B in the three-month period.

Analysts expect Cisco Systems Inc. (NASDAQ:CSCO) to report a net income (adjusted) of $0.82 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jul 2021 is predicted to come in at $13.03B.

Robinhood Markets Inc. (HOOD), due to announce earnings after the market closes today, is expected to report earnings of -$0.15 per share from revenues of $521.84M recently concluded three-month period.

That's it for today. Thanks for reading. Good luck out there!Best Regards,News Heater Team

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