19 Oct - Morning Newsletter (with changes)

Good Morning!

US stocks closed mixed as investors dealt with a good start to reporting and fears that rising inflation, supply chain problems and an energy crisis could threaten global growth. As a result of trading, the S&P 500 rose 15.09 points, or 0.3%, to 4486.46 points. The Nasdaq Composite rose 124.47 points, or 0.8%, to 15,021.81 points. The Dow Jones Industrial Average fell 36.15 points, or 0.1, to 3525861 points.In the past month and a half, the US stock market has been hesitating, haunted by fears of inflation and slowing growth. Investors are analyzing the increasing likelihood that inflation could persist longer than expected, in part due to worsening supply chain bottlenecks and labor shortages. Fears have been exacerbated by signs of a slowdown in economic growth.

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Today Top Movers

Entasis Therapeutics Holdings Inc. (ETTX) stock soared 21.22% to $3.77 in the pre-market trading after declaring positive topline results for sulbactam-durlobactam (SUL-DUR) from Phase 3 ATTACK trial.

Energous Corporation (NASDAQ: WATT) shares are trading up 24.0% at $2.48 at the time of writing following the declaration from the company that its 900MHz 1W Active Energy Harvesting transmitter technology has received U.S. Federal Communications Commission (FCC) Part 15 grant of equipment authorization for wireless power transfer at any distance.

AgEagle Aerial Systems Inc. (UAVS) grew over 11.91% at $3.1 in pre-market trading today after signing a definitive agreement with Parrot (Euronext Paris: PARRO) under which AgEagle shall acquire senseFly.

Biomerica, Inc. (BMRA) rose about 8.10% at $6.14 in pre-market trading Tuesday after announcing that Walmart has begun in-store sales and rollout of the Company’s EZ Detect colorectal disease screening test within the nationwide Walmart retail system.

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Top Upgrades & Downgrades

RBC Capital turned bullish on Albemarle Corporation (ALB), upgrading the stock to Outperform and assigning a $280.00 price target, representing potential upside of 18.12% from Tuesday's close.

Crown Castle International Corp. (REIT) (CCI) has won the favor of Credit Suisse's equity research team. The firm upgraded the shares from Neutral to Outperform and moved their price target to $195.00, suggesting 16.18% additional upside for the stock.

SBA Communications Corporation (SBAC) received an upgrade from analysts at Credit Suisse, who also set their one-year price target on the stock to $384.00. They changed their rating on SBAC to Outperform from Neutral in a recently issued research note.

Earlier Tuesday Evercore ISI Group reduced its rating on Marriott International Inc. (MAR) stock to In-Line from Outperform and assigned the price target to $160.00.

Credit Suisse analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Esperion Therapeutics Inc. (ESPR) has been changed to Neutral from Outperform and the new price target is set at $11.00.

Analysts at Stifel downgraded US Ecology Inc. (ECOL)'s stock to Hold from Buy Tuesday.

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Latest Insider Activity

Amicus Therapeutics Inc. (FOLD) Chairman & CEO Crowley John F announced the sale of shares taking place on Oct 15 at $11.22 for some 22,000 shares. The total came to more than $0.25 million.

Levi Strauss & Co. (LEVI) Director Friedman David A sold on Oct 15 a total 31,581 shares at $24.95 on average. The insider’s sale generated proceeds of almost $0.62 million.

Oracle Corporation (ORCL) Director Fairhead Rona Alison declared the purchase of shares taking place on Oct 14 at $96.02 for some 2,277 shares. The transaction amount was around $0.22 million.

Sachem Capital Corp. (SACH) CIO & Director of IR Haydon William C bought on Oct 15 a total 4,000 shares at $5.75 on average. The purchase cost the insider an estimated $11,508.

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Important Earnings

Top US earnings releases scheduled for today include United Airlines Holdings Inc. (NASDAQ:UAL). It will announce its Sep 2021 financial results. The company is expected to report earnings of -$1.67 per share from revenues of $7.64B in the three-month period.

Analysts expect Netflix Inc. (NASDAQ:NFLX) to report a net income (adjusted) of $2.56 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2021 is predicted to come in at $7.48B.

Omnicom Group Inc. (OMC), due to announce earnings after the market closes today, is expected to report earnings of $1.36 per share from revenues of $3.45B 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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