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- 21 Sep - Morning Newsletter (with changes)
21 Sep - Morning Newsletter (with changes)
4 Hot Stocks to Watch Right Now
Good Morning!
The fallen bears are cheering. Finally movement and not just up. The S&P 500 had its worst day since May, losing 1.70% at 4,357 points. The Nasdaq fared even worse, finishing 2.19% lower at 14,713 points. The market is down 5% and all crash scenarios are already out of the closet. It seems as if falling prices never get used to.However, between February 16 and March 4 this year, the stock markets also fell by 5.5%, which turns out to have been an excellent buying opportunity. Corrections are therefore quite normal. Historically, the S&P 500 has undergone a correction of at least 5% every 3.5 months since 1927. We can of course still descend further; we see a decrease of more than 10% on average once every 16 months. The last drop of just over 10% was seen in September 2020.A drop of less than 10% is actually not even called a correction. The average correction (more than 10%) since the Second World War was approximately 13.7%. The stock market also needs another four months to recover after an average correction. It is only when we fall more than 20% that we officially speak of a bear market. We saw thirteen of these since World War II, with an average decline of 30%. Historically, the recovery takes an average of 24 months, but we saw last year that it can also be much faster.
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Today Top Movers
NanoViricides Inc. (NNVC) stock soared 37.99% to $5.23 in the pre-market trading. NNVC is a development stage company that is creating special purpose nanomaterials for antiviral therapy.
ReWalk Robotics Ltd. (NASDAQ: RWLK) shares are trading up 30.0% at $1.69 at the time of writing. The company develops, manufactures and markets wearable robotic exoskeletons for individuals with lower limb disabilities as a result of spinal cord injury or stroke.
Aprea Therapeutics Inc. (APRE) grew over 9.07% at $5.29 in pre-market trading today after presenting data at the European Society of Medical Oncology (ESMO) Congress 2021 from its Phase I/II clinical trial in advanced solid tumors.
Viridian Therapeutics Inc. (VRDN), a Biotechnology company, rose about 18.8% at $12.7 in pre-market trading Tuesday following the pricing of an underwritten public offering with gross proceeds of approximately $85.0 million.
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Top Upgrades & Downgrades
Goldman Sachs turned bullish on Atento S.A. (ATTO), upgrading the stock to "Neutral" and assigning a $30.00 price target, representing potential upside of 3.45% from Monday's close.
Globant S.A. (GLOB) has won the favor of Goldman Sachs' equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $395.00, suggesting 26.15% additional upside for the stock.
Steven Madden, Ltd. (SHOO) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $50.00. They changed their rating on SHOO to Buy from Hold in a recently issued research note.
Earlier Tuesday Jefferies reduced its rating on Zumiez Inc. (ZUMZ) stock to Hold from Buy and assigned the price target to $42.00.
Jefferies analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Oshkosh Corporation (OSK) has been changed to Hold from Buy and the new price target is set at $105.00.
Analysts at Piper Sandler downgraded Big Lots Inc. (BIG)'s stock to Neutral from Overweight Tuesday.
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Latest Insider Activity
Top US earnings releases scheduled for today include Stitch Fix Inc. (NASDAQ:SFIX). It will announce its Jul 2021 financial results. The company is expected to report earnings of -$0.13 per share from revenues of $547.89M in the three-month period.
Analysts expect FedEx Corporation (NYSE:FDX) to report a net income (adjusted) of $5 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Aug 2021 is predicted to come in at $21.91B.
Adobe Inc. (ADBE), due to announce earnings after the market closes today, is expected to report earnings of $3.01 per share from revenues of $3.89B recently concluded three-month period.
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Important Earnings
Top US earnings releases scheduled for today include Stitch Fix Inc. (NASDAQ:SFIX). It will announce its Jul 2021 financial results. The company is expected to report earnings of -$0.13 per share from revenues of $547.89M in the three-month period.
Analysts expect FedEx Corporation (NYSE:FDX) to report a net income (adjusted) of $5 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Aug 2021 is predicted to come in at $21.91B.
Adobe Inc. (ADBE), due to announce earnings after the market closes today, is expected to report earnings of $3.01 per share from revenues of $3.89B 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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