21 June - NH - Morning Newsletter

4 Stocks That Are Poised to Take Off

June 21, 2021

Good Morning!

Last week, investors seem to have become quite concerned about the Federal Reserve's monetary policy. Interest rates remained unchanged and so did the bond-buying program, but the so-called dot plot points to two rate hikes in 2023. Earlier, the US central bank said it would not implement rate hikes until at least 2024. While Jerome Powell still insisted it was temporary inflation, the market seems to be getting a little more nervous. Some central bankers even think that interest rates can rise again in 2022. Higher interest rates mean that the expected profits of mainly growth stocks will be lower. On the other hand, higher inflation can also increase sales if companies continue to raise prices.US stocks went lower into the weekend on Friday. The S&P 500 lost 1.31% at 4,166 points and the Nasdaq fell 0.92% to a position of 14,030 points. Surprisingly, the S&P 500 made a new all-time high last week.

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Today Top Movers

MediciNova Inc. (MNOV) stock soared 46.28% to $5.5 in the pre-market trading after declaring that positive results from a Phase 2 trial of MN-166 (ibudilast) in alcohol use disorder (AUD) were published in Nature’s Translational Psychiatry.

Raven Industries Inc. (NASDAQ: RAVN) shares are trading up 48.6% at $57.39 at the time of writing following the announcement from the CNH Industrial (CNHI), that it has entered into an agreement to acquire 100% of the capital stock of Raven Industries.

Luokung Technology Corp. (LKCO) grew over 16.46% at $2.76 in pre-market trading today. The company recently announced its Subsidiary eMapgo's contract win for new generation traffic control network and smart highway demonstration project

Tonix Pharmaceuticals Holding Corp. (TNXP) surged 7.38% to $1.31 in today’s premarket trading after declaring that it plans to develop TNX-102 SL (cyclobenzaprine HCl sublingual tablets) as a potential treatment for Long COVID Syndrome (Long COVID) which is now known officially as Post-Acute Sequelae of COVID-19.

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Top Upgrades & Downgrades

B of A Securities turned bullish on Liberty Oilfield Services Inc. (LBRT), upgrading the stock to "Neutral" and assigning a $15.75 price target, representing a potential upside of 11.62% from Friday's close.

Lloyds Banking Group plc (LYG) has won the favor of Investec's equity research team. The firm upgraded the shares from Hold to Buy.

Earlier Monday Barclays reduced its rating on Arcturus Therapeutics Holdings Inc. (ARCT) stock to Underweight from Equal Weight and assigned the price target to $25.00. With shares trading at around $35.09, the Wall Street firm thinks Arcturus Therapeutics Holdings Inc.'s stock could decline more than -28.75%.

Baird analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Sykes Enterprises Incorporated (SYKE) has been changed to Neutral from Outperform and the new price target is set at $54.00.

Analysts at UBS downgraded Rio Tinto Group (RIO)'s stock to Sell from Neutral Monday.

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Latest Insider Activity

NVIDIA Corporation (NVDA) Director COXE TENCH announced the sale of shares taking place on Jun 15 at $715.95 for some 40,137 shares. The total came to more than $28.74 million.

Cloudera Inc. (CLDR) President Hollison Mick sold on Jun 15 a total 131,175 shares at $15.79 on average. The insider’s sale generated proceeds of almost $0.58 million.

Transocean Ltd. (RIG) Director Mohn Frederik Wilhelm declared the purchase of shares taking place on Jun 16 at $4.20 for some 2,000,000 shares. The transaction amount was around $8.4 million.

Document Security Systems Inc. (DSS) Director Chan Heng Fai Ambrose bought on Jun 16 a total 8,947,012 shares at $1.70 on average. The purchase cost the insider an estimated $943,500.

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Important Earnings

Top US earnings releases scheduled for tomorrow include Cognyte Software Ltd. (NASDAQ:CGNT). It will announce its Apr 2021 financial results. The company is expected to report earnings of $0.15 per share from revenues of $111.84M in the three-month period.

Analysts expect Jerash Holdings (US) Inc. (NASDAQ:JRSH) to report a net income (adjusted) of $0.1 per share, when the company releases its quarterly results tomorrow. Revenue for the fiscal quarter ended Mar 2021 is predicted to come in at $20M.

Korn Ferry (KFY), due to announce earnings before the market opens tomorrow, is expected to report earnings of $0.98 per share from revenues of $488.48M 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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