20 apr - NH - Morning Newsletter

Good Morning

The stock exchanges in New York are closed lower on Mondays. The S&P 500 was down 0.53% at 4,163 points and the Nasdaq fell 0.98% to 13,914 points. Interest rates rose slightly, which presumably put tech stocks under more pressure. Investors also processed figures from Coca-Cola, among others. The soft drink product rose 0.60% to $54 after the company announced that demand had recovered to pre-corona pandemic levels in March. Revenue at $9.02 billion exceeded the $8.6 billion expected. Coca-Cola also announced its intention to bring the South African bottler Coca-Cola Beverages Africa (CCBA) to the stock exchange in Amsterdam.Harley-Davidson also came up with much better than expected figures and the share went up by almost 10%. For today, the figures of Johnson & Johnson and Procter & Gamble are on the agenda. Nabeurs is Netflix's turn to be the first tech giant to open the books. Figures from Netflix are usually important for sentiment on the technology exchange.There are hundreds of fatal car accidents around the world every day. Yet there is only one brand that is always immediately looked at and that is even punished at the fair for that reason. Yesterday, someone died in the US state of Texas after a fatal accident in which Tesla's self-driving function may have been used. Tesla's share price fell sharply on this news, but Elon Musk soon came up with a statement.According to the CEO of Tesla, the autopilot was not on and the Full Self-Driving function was not even purchased by the customer. The FSD software is innovative but still requires active supervision from the driver. 

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Today Top Movers

Sundial Growers Inc. (SNDL) stock soared 7.42% to $1.01 in the pre-market trading. The U.S. House of Representatives voted in favour of passing the Secure and Fair Enforcement (SAFE) Banking Act in favour of cannabis companies.

Dave & Buster's Entertainment Inc. (NASDAQ: PLAY) shares are trading up 2.66% at $44.0 at the time of writing. The company provided business update; increasing first quarter revenue guidance to $252 - $257 million.

GW Pharmaceuticals plc (GWPH) tumbled over 0.0% at $218.53 in pre-market trading today after the firm received approval for EPIDYOLEX® (cannabidiol) for the treatment of seizures associated with tuberous sclerosis complex from European Commission.

Akers Biosciences Inc (MYMD) is up 43.86% to $6.33 in the pre market trading today.

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Top Upgrades & Downgrades

Societe Generale turned bullish on Aegon N.V. (AEG), upgrading the stock to "Hold" from Sell.

Coupa Software Incorporated (COUP) has won the favor of Piper Sandler's equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $315.

CAE Inc. (CAE) received an upgrade from analysts at National Bank. They changed their rating on CAE to Outperform from Sector Perform in a recently issued research note.

Earlier Tuesday Raymond James reduced its rating on Clean Energy Fuels Corp. (CLNE) stock to Underperform from Market Perform.

Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for EOG Resources Inc. (EOG) has been changed to Neutral from Buy and the new price target is set at $80.

Analysts at Citi downgraded NIKE Inc. (NKE)'s stock to Neutral from Buy Tuesday.

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Latest Insider Activity

Apple Inc. (AAPL) Senior Vice President O'BRIEN DEIRDRE announced the sale of shares taking place on Apr 16 at $134.01 for some 18,216 shares. The total came to more than $2.44 million.

Advanced Micro Devices Inc. (AMD) Chief Technology Officer & EVP Papermaster Mark D sold on Apr 15 a total 1,209,795 shares at $80.54 on average. The insider’s sale generated proceeds of almost $4.43 million.

New Residential Investment Corp. (NRZ) Chairman, CEO & President Nierenberg Michael declared the purchase of shares taking place on Apr 19 at $10.10 for some 100,000 shares. The transaction amount was around $1.01 million.

Tattooed Chef Inc. (TTCF) Director Williamson Daniel James bought on Apr 15 a total 257,471 shares at $10.00 on average. The purchase cost the insider an estimated $2.5 million.

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Important Earnings

Top US earnings releases scheduled for today include Netflix Inc. (NASDAQ:NFLX). It will announce its Mar 2021 financial results. The company is expected to report earnings of $2.97 per share from revenues of $7.13B in the three-month period.

Analysts expect CSX Corporation (NASDAQ:CSX) to report a net income (adjusted) of $0.95 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2021 is predicted to come in at $2.78B.

Edwards Lifesciences Corporation (EW), due to announce earnings after the market closes today, is expected to report earnings of $0.47 per share from revenues of $1.16B 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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