20 Aug - Morning Newsletter

Good Morning!

The stock markets in the United States showed a strong recovery after opening yesterday. The S&P 500 was more or less absorbed by the rising trendline above which the index has been moving since November. The markets opened about 1% lower, but at the close the S&P 500 was up 0.13%. The Nasdaq ended the day 0.11% higher at 14,541 points. Only the Dow Jones finished lower for the third day in a row, losing 0.19%.Stocks of commodity companies were under pressure. Oil and steel products were in the red. Chevron was down 2.49%, ConocoPhilips was down 2.04% and US Steel lost 7.20%. The advance of the delta variant of the coronavirus also seems to bother investors. Boeing fell 3.12% and cruise line Carnival lost 3.65%. There were also positive outliers; Automation company Synopsys rose 8.75% after strong quarterly figures and Adobe Systems rose 1.73%. The Netflix share (+4.12%) clearly led the way with technology shares , for no apparent reason.

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Today Top Movers

GeoVax Labs Inc. (GOVX) stock soared 70.93% to $7.35 in the pre-market trading after presenting data from ongoing studies of its preventive vaccine against COVID-19.

Naked Brand Group Limited (NASDAQ: NAKD) shares are trading up 18.82% at $0.5966 at the time of writing after the management addressed to the annual meeting of shareholders.

Marin Software Incorporated (MRIN) grew over 16.63% at $5.61 in pre-market trading today after announcing integration with Criteo's Commerce Media Platform to expand eCommerce advertising.

Marker Therapeutics Inc. (MRKR), a Biotechnology company, rose about 14.88% at $1.93 in pre-market trading Friday. The company was awarded a $13.1 million grant from the Cancer Prevention and Research Institute of Texas.

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Top Upgrades & Downgrades

HSBC turned bullish on CF Industries Holdings Inc. (CF), upgrading the stock to "Buy" and assigning a $59.50 price target, representing potential upside of 37.35% from Friday's close.

The Mosaic Company (MOS) has won the favor of HSBC's equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $39.00, suggesting 31.89% additional upside for the stock.

FibroGen Inc. (FGEN) received an upgrade from analysts at Raymond James. They changed their rating on FGEN to Market Perform from Outperform in a recently issued research note.

Earlier Friday RBC Capital reduced its rating on Duke Energy Corporation (DUK) stock to Sector Perform from Outperform and assigned the price target to $109.00.

Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Pinnacle West Capital Corporation (PNW) has been changed to Sell from Neutral and the new price target is set at $73.00.

Analysts at Goldman Sachs downgraded Intercept Pharmaceuticals Inc. (ICPT)'s stock to Sell from Neutral Friday.

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Latest Insider Activity

ContextLogic Inc. (WISH) Vice President of Operations Chuang Peiyen announced the sale of shares taking place on Aug 16 at $6.92 for some 12,633 shares. The total came to more than $87395.0.

Skillz Inc. (SKLZ) Chief Technology Officer Aguirre Miriam sold on Aug 17 a total 1,077,740 shares at $10.57 on average. The insider’s sale generated proceeds of almost $2.32 million.

Krispy Kreme Inc. Common Stock (DNUT) 10% Owner JAB Holdings B.V. declared the purchase of shares taking place on Aug 19 at $14.39 for some 234,748 shares. The transaction amount was around $3.38 million.

SoFi Technologies Inc. (SOFI) Chief Executive Officer Noto Anthony bought on Aug 19 a total 2,224,402 shares at $13.93 on average. The purchase cost the insider an estimated $99,617.

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Important Earnings

Top US earnings releases scheduled for today include Foot Locker Inc. (NYSE:FL). It will announce its Jul 2021 financial results. The company is expected to report earnings of $1 per share from revenues of $2.09B in the three-month period.

Analysts expect The Buckle Inc. (NYSE: BKE) to report a net income (adjusted) of $0.56 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jul 2021 is predicted to come in at $226M.

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

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