19 apr - NH - Morning Newsletter

Good Morning

The enthusiasm among investors was great last week. Strong US retail sales data, declining jobless claims and rising inflation fueled investor optimism. The S&P 500 closed again last Friday with a gain of 0.36% at a record of 4,185 points . The Dow Jones is also on a record, but the Nasdaq is still lagging. The technology fair went up 0.10% on Friday to 14,052 points. The quarterly figures from the major US banks were also well received last week and look to investors for an optimistic quarterly figures season.

Currently, US futures are mixed. The Dow and the S&P 500 are slightly lower and the Nasdaq just slightly higher. Those first two have had 4 positive weeks and the Nasdaq is up 3 weeks in a row. This week will show whether the sharply increased share prices can be accounted for with strong figures. The first big names are on the agenda next week and a total of 72 companies from the S&P 500 will report.  For example, Coca-Cola, IBM, Netflix and Intel come out with figures. 

Roughly a year ago, the US oil price dipped below $ 0 a barrel when oil supplies soared due to the corona pandemic. That surplus is now almost gone, according to the International Energy Agency (IEA). In February barely a fifth of the oil surplus was left. According to analysts, prices may therefore recover further.

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Today Top Movers

Clean Energy Fuels Corp. (CLNE) stock soared 12.03% to $12.48 in the pre-market trading after declaring an agreement with Amazon for low and negative carbon renewable natural gas (RNG).

NIO Inc. (NYSE: NIO) shares are trading up 2.38% at $36.95 at the time of writing. Company’s 52-week ranged between $2.91 to $66.99.

InspireMD Inc. (NSPR) grew over 24.85% at $0.5119 in pre-market trading today. The company recently provided a corporate update for shareholders.

Harley-Davidson Inc. (HOG), a Recreational Vehicles company, rose about 5.3% at $42.52 in pre-market trading Monday after receiving notification from the Economic Ministry of Belgium, that following a request from the European Union (E.U.), the company would be subject to the revocation of Binding Origin Information (BOI) credentials, effective April 19, 2021.

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Top Upgrades & Downgrades

Evercore ISI Group turned bullish on Sensata Technologies Holding plc (ST), upgrading the stock to "Outperform" and assigning a $67.0 price target, representing potential upside of 14.45% from Friday's close.

Corning Incorporated (GLW) has won the favor of JP Morgan's equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $55.0, suggesting 20.17% additional upside for the stock.

Western Alliance Bancorporation (WAL) received an upgrade from analysts at Wells Fargo, who also set their one-year price target on the stock to $120.0. They changed their rating on WAL to Overweight from Equal-Weight in a recently issued research note.

Earlier Monday JP Morgan reduced its rating on Federated Hermes Inc. (FHI) stock to Underweight from Neutral and assigned the price target to $27.

Cowen analysts reduced their investment ratings, saying in research reports covered by the media that its rating for TE Connectivity Ltd. (TEL) has been changed to Market Perform from Outperform and the new price target is set at $135.

Analysts at Morgan Stanley downgraded Church & Dwight Co. Inc. (CHD)'s stock to Underweight from Equal Weight Monday.

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Latest Insider Activity

AMC Entertainment Holdings Inc. (AMC) EVP & Chief Financial Officer Goodman Sean D. announced the sale of shares taking place on Apr 16 at $9.49 for some 45,404 shares. The total came to more than $0.43 million.

Pinterest Inc. (PINS) Co-Founder & Chief Design & Cr Sharp Evan sold on Apr 14 a total 69,198 shares at $86.65 on average. The insider’s sale generated proceeds of almost $6.0 million.

StoneMor Inc. (STON) Director Axelrod Andrew declared the purchase of shares taking place on Apr 14 at $2.20 for some 5,522,732 shares. The transaction amount was around $12.15 million.

The Home Depot Inc. (HD) EVP-Supply Chain & Product Dev HOLIFIELD MARK bought on Dec 29 a total 83 shares at $266.07 on average. The purchase cost the insider an estimated $22,084.

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Important Earnings

Top US earnings releases scheduled for today include The Coca-Cola Company (NYSE:KO). It will announce its Mar 2021 financial results. The company is expected to report earnings of $0.5 per share from revenues of $8.61B in the three-month period.

Analysts expect United Airlines Holdings Inc. (NASDAQ:UAL) to report a net income (adjusted) of -$7.05 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2021 is predicted to come in at $3.27B.

International Business Machines Corporation (IBM), due to announce earnings after the market closes today, is expected to report earnings of $1.63 per share from revenues of $17.34B 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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