20 Sep - Morning Newsletter (with changes)

Good Morning!

US stock index futures are falling on Monday following the sell-off on Asian and European exchanges, where traders are abandoning risky assets, trading data show.Futures on the Dow Jones Industrial Average (DJIA) decreased by 1.6%, to 33,913 points, on the NASDAQ high-tech index - by 1.07%, to 15,163 points, on the broad market S&P 500 index - by 1.32%, to 4363.75 points.At the beginning of the week, risk aversion was noted on the global stock markets. The reason for the growing concern of traders was the situation with one of the largest developers in China, Evergrande, over which the threat of default looms. According to the Wall Street Journal, the developer's debt burden is the largest among the world's public companies operating in the field of real estate management or construction.

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Today Top Movers

Verastem Inc. (VSTM) stock soared 29.35% to $3.57 in the pre-market trading after announcing a mini oral presentation highlighting updated data from the ongoing investigator-sponsored Phase 1/2 FRAME study.

Aprea Therapeutics Inc. (NASDAQ: APRE) shares are trading up 17.39% at $5.94 at the time of writing. The company is expected presented data for eprenetapopt in combination with pembrolizumab for the treatment of advanced solid tumours today at (ESMO)

SmileDirectClub Inc. (SDC) grew over 15.07% at $7.71 in pre-market trading today.Over the last few days, SDC has been the most mentioned ticker on reddit, including WallStreetBets.

Synlogic, Inc. (SYBX), a Consumer Electronics company, jumped about 17.93% at $3.88 in pre-market trading Monday after declaring positive data from clinical studies evaluating both SYNB1618 and SYNB1934, investigational Synthetic Biotic medicines for the treatment of phenylketonuria (PKU).

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Top Upgrades & Downgrades

Deutsche Bank turned bullish on Colgate-Palmolive Company (CL), upgrading the stock to "Buy" and assigning a $86.00 price target, representing potential upside of 12.88% from Monday's close.

Ruth's Hospitality Group Inc. (RUTH) 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 $28.00, suggesting 38.41% additional upside for the stock.

The ONE Group Hospitality Inc. (STKS) received an upgrade from analysts at Piper Sandler, who also set their one-year price target on the stock to $17.00. They changed their rating on STKS to Overweight from Neutral in a recently issued research note.

Earlier Monday Morgan Stanley reduced its rating on Hill-Rom Holdings Inc. (HRC) stock to Equal-Weight from Overweight and assigned the price target to $156.00.

JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Protagonist Therapeutics Inc. (PTGX) has been changed to Neutral from Overweight and the new price target is set at $49.00.

Analysts at Jefferies downgraded Lear Corporation (LEA)'s stock to Hold from Buy Monday.

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Latest Insider Activity

Zscaler Inc. (ZS) Chief Legal Officer Schlossman Robert announced the sale of shares taking place on Sep 17 at $272.13 for some 3,855 shares. The total came to more than $1.05 million.

ZipRecruiter Inc. (ZIP) General Counsel and Secretary SAKAMOTO RYAN T. sold on Sep 16 a total 8,857 shares at $25.81 on average. The insider’s sale generated proceeds of almost $85792.0.

Aterian Inc. (ATER) 10% Owner 9830 Macarthur, LLC declared the purchase of shares taking place on Sep 17 at $7.71 for some 1,468,700 shares. The transaction amount was around $11.32 million.

Designer Brands Inc. (DBI) Executive Chairman SCHOTTENSTEIN JAY L bought on Sep 15 a total 178,594 shares at $12.62 on average. The purchase cost the insider an estimated $2.25 million.

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Important Earnings

Top US earnings releases scheduled for today include Cognyte Software Ltd. (NASDAQ:CGNT). It will announce its Jul 2021 financial results. The company is expected to report earnings of $0.15 per share from revenues of $115.57M in the three-month period.

Analysts expect Lennar Corporation (NYSE:LEN) to report a net income (adjusted) of $3.28 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Aug 2021 is predicted to come in at $6.86B.

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

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