19 mar - morning newsletter

Good Morning

Futures on US stock indices are mainly declining on Thursday as part of the correction and in anticipation of a new portion of statistics from the labor market, according to trading data. futures on the Dow Jones Industrial Average (DJIA) grew by 0.05% - up to 32,922.5 points, on the NASDAQ high-tech index - decreased by 1.3%, to 13,018 points, the S&P 500 broad market index - dropped by 0.5% to 3943.6 points. The dynamics of futures indicate a possible corrective decline in markets on Thursday after the day before they rose by 0.3-0.6%, while the Dow Jones index closed above 33,000 points for the first time in history. Markets won back the decisions of the US Federal Reserve, which kept the base rate at the extremely low level of 0-0.25% per annum. In addition, the regulator still predicts the base rate at 0-0.25% in 2021-2023. Statistics may affect the course of trading on Thursday. The US Department of Labor later Thursday will report data on the number of initial jobless claims in the country over the past week. According to forecasts, the figure dropped to 700 thousand applications from 712 thousand a week earlier.In addition, traders continue to monitor the growth of US government bond yields. Thus, the indicator for ten-year securities grows to 1.738% from 1.641% a day earlier, exceeding the 1.7% mark for the first time since the end of January 2020.

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Today Top Movers

My Size Inc. (MYSZ) stock soared 4.64% to $1.58 in the pre-market trading. The company provided its stockholders with an update for the year 2021.

SenesTech Inc. (NASDAQ: SNES) shares are trading up 117.26% at $3.65 at the time of writing after announcing successful completion of a long term agricultural deployment of ContraPest®.

Marker Therapeutics Inc. (MRKR) grew over 39.44% at $2.51 in pre-market trading today.

Sorrento Therapeutics Inc. (SRNE), a Biotechnology company, rose about 0.63% at $9.51 in pre-market trading Friday following the announcement from the company that the first patient has been treated in its Phase 1b Amyloid Light Chain (AL) Amyloidosis study of STI-6129, an ADC which uses STI-5171.

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Top Upgrades & Downgrades

JPMorgan turned bullish on Keurig Dr Pepper Inc. (KDP), upgrading the stock to "Overweight" and assigning a $39 price target, representing potential upside of 5.11% from Thursday's close.

Navient Corporation (NAVI) has won the favor of Jefferies's equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $19, suggesting 46.83% additional upside for the stock.

Ford Motor Company (F) received an upgrade from analysts at Barclays, who also set their one-year price target on the stock to $16. They changed their rating on F to Overweight from Equal Weight in a recently issued research note.

Earlier Friday Baird reduced its rating on U.S. Bancorp (USB) stock to Neutral from Outperform and assigned the price target to $55.

Wells Fargo analysts reduced their investment ratings, saying in research reports covered by the media that its rating for PennyMac Financial Services Inc. (PFSI) has been changed to Equal-Weight from Overweight and the new price target is set at $70.

Analysts at JP Morgan downgraded Molson Coors Beverage Company (TAP)'s stock to Underweight from Neutral Friday.

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Latest Insider Activity

Zuora Inc. (ZUO) SVP, GC and Corp. Secretary Pileggi Jennifer announced the sale of shares taking place on Mar 16 at $14.72 for some 16,668 shares. The total came to more than $0.25 million.

Sunstone Hotel Investors Inc. (SHO) Director RUSSELL KEITH P sold on Mar 16 a total 81,880 shares at $13.26 on average. The insider’s sale generated proceeds of almost $0.27 million.

Digital Turbine Inc. (APPS) Director GYANI MOHAN S declared the purchase of shares taking place on Dec 28 at $56.87 for some 687 shares. The transaction amount was around $39070.0.

Marker Therapeutics Inc. (MRKR) 10% Owner Walker Paul Edward bought on Mar 16 a total 10,714,285 shares at $1.75 on average. The purchase cost the insider an estimated $10.0 million.

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Important Earnings

Top US earnings releases scheduled for today include Celsion Corporation (NASDAQ:CLSN). It will announce its Dec 2020 financial results. The company is expected to report earnings of -$0.13 per share from revenues of $120k in the three-month period.

Analysts expect Embraer S.A. (NYSE:ERJ) to report a net income (adjusted) of -$0.32 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $1.66B.

Wireless Telecom Group Inc. (WTT), due to announce earnings before the market opens today, is expected to report earnings of -$0.05 per share from revenues of $10.39M 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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