22 apr - NH - Morning Newsletter

Good Morning

The American indices recovered well yesterday from the price drop the day before. The broad S&P 500 index rose 0.93% to 4,173 points.  The strongest sectors were the financial, energy and commodities sectors.  The futures of the respective US indices have remained status quo overnight . Optimism among US and European investors trickled through to the Asian markets where Australia, China and Japan were able to close the trading day on a positive note.The articulate Michael O'Leary, CEO of the Irish price breaker, predicts they will close the current fiscal year at roughly breakeven.  The CEO of Ryanair thus instills confidence in the shareholders. According to O'Leary, 2023 will be a very good year. The cost savings implemented in the face of the pandemic will ensure that 2023 will be a very profitable year, the CEO said.According to Ryanair, everyone is craving the sun. Bookings have doubled to 700,000 in the last three weeks. By next winter, Ryanair will return to 80% to 90% of full capacity. The Ryanair share was at an all-time high around 18.50 euros in 2017. Today the Irish price breaker is quoted at EUR 15.50. A fantastic achievement if you compare it with other European airlines, such as Air France-KLM. Many American airlines also have to lose out to Ryanair.

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Today Top Movers

Bionano Genomics Inc. (BNGO) stock soared 6.77% to $6.31 in the pre-market trading after declaring the adoption of its Saphyr system by two large laboratories belonging to the National Health System (NHS) of the United Kingdom.

Skillz Inc. (NYSE: SKLZ) shares are trading up 8.83% at $18.24 at the time of writing. Company’s 52-week ranged between $9.81 to $46.30. Analysts have a consensus price target of $34.

Teradata Corporation (TDC) grew over 32.15% at $52.7 in pre-market trading today. The company recently announced preliminary first quarter fiscal 2021 financial Results.

Ocugen Inc. (OCGN), a Biotechnology company, rose about 4.92% at $6.82 in pre-market trading Thursday after its partner, Bharat Biotech, shared positive results of the second interim analysis of its Phase 3 study of COVAXIN.

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Top Upgrades & Downgrades

Evercore ISI Group turned bullish on Energy Transfer LP (ET), upgrading the stock to "Outperform" from In-line.

Qualtrics International Inc. (XM) has won the favor of BMO Capital's equity research team. The firm upgraded the shares from Market Perform to Outperform and moved their price target to $45.0, suggesting 33.06% additional upside for the stock.

Capital Product Partners L.P. (CPLP) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $16.0. They changed their rating on CPLP to Buy from Hold in a recently issued research note.

Earlier Thursday Goldman Sachs reduced its rating on Lordstown Motors Corp. (RIDE) stock to Neutral from Buy and assigned the price target to $10.0.

Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Planet Fitness Inc. (PLNT) has been changed to Neutral from Overweight and the new price target is set at $87.0.

Analysts at Keybanc downgraded Welbilt Inc. (WBT)'s stock to Sector Weight from Overweight Thursday.

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Latest Insider Activity

Palantir Technologies Inc. (PLTR) Karp Alexander C. announced the sale of shares taking place on Apr 21 at $22.37 for some 638,629 shares. The total came to more than $14.28 million.

Peloton Interactive Inc. (PTON) Director Draft Howard C. sold on Apr 19 a total 123,695 shares at $107.33 on average. The insider’s sale generated proceeds of almost $0.54 million.

AppLovin Corporation (APP) Director Georgiadis Mary Margaret Hasti declared the purchase of shares taking place on Apr 19 at $80.00 for some 3,600 shares. The transaction amount was around $0.29 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 American Airlines Group Inc. (NASDAQ:AAL). It will announce its Mar 2021 financial results. The company is expected to report earnings of -$4.3 per share from revenues of $4.04B in the three-month period.

Analysts expect AT&T Inc. (NYSE:T) to report a net income (adjusted) of $0.78 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2021 is predicted to come in at $42.69B.

Intel Corporation (INTC), due to announce earnings after the market closes today, is expected to report earnings of $1.15 per share from revenues of $17.86B 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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