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- 22 Nov - Morning Newsletter (with changes)
22 Nov - Morning Newsletter (with changes)
4 Hot Stocks to Trade Today
Good Morning!
On November 19, trading on American stock markets ended in different directions. The S&P 500 dropped 0.14% to 4698 points, the Dow Jones shed 0.75% and the Nasdaq climbed 0.4%. The IT sector (+ 0.77%) was among the growth leaders thanks to the positive dynamics of shares of technology giants. The energy sector (-3.91%) was among the outsiders due to the decline in oil prices and the resumption of quarantine restrictions in Europe. Due to the decline in Treasury yields, securities of the financial sector corrected faster than the market as a whole (-1.11%).Company highlights
Intuit (INTU) quarterly revenue and operating margin came out better than expected. Management raised forecasts for 2022 and noted the activity of Credit Karma users.
Moderna (MRNA) has received approval to use its COVID-19 vaccine as a booster.
Boeing (BA) faced new challenges in the production of its 787 Dreamliner.
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Today Top Movers
Astra Space Inc. (ASTR) stock soared 36.41% to $13.0 in the pre-market trading after completing its first commercial orbital launch for the United States Space Force late Friday night, November 19, 2021, PST.
Vonage Holdings Corp. (NASDAQ: VG) shares are trading up 26.33% at $20.68 at the time of writing after announcing that Ericsson is about to acquire VG for USD 21 per share in a cash and stock deal.
ObsEva SA (OBSV) grew over 17.67% at $2.73 in pre-market trading today following the announcement from the company that the New Drug Application for linzagolix has been accepted for review by the United States Food and Drug Administration (FDA).
NIO Inc. (NIO), a Auto Manufacturers company, rose about 3.85% at $40.15 in pre-market trading Monday. The company recently announced completion of at-the-market offering of American Depositary Shares.
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Top Upgrades & Downgrades
BMO Capital turned bullish on Xcel Energy Inc. (XEL), upgrading the stock to Outperform and assigning a $70.00 price target, representing potential upside of 7.53% from Friday's close.
Alnylam Pharmaceuticals Inc. (ALNY) has won the favor of RBC Capital's equity research team. The firm upgraded the shares from Sector Perform to Outperform and moved their price target to $225.00, suggesting 24.31% additional upside for the stock.
Duck Creek Technologies Inc. (DCT) received an upgrade from analysts at Barclays, who also set their one-year price target on the stock to $41.00. They changed their rating on DCT to Overweight from Equal-Weight in a recently issued research note.
Earlier Monday Atlantic Equities reduced its rating on Oatly Group AB (OTLY) stock to Neutral from Overweight and assigned the price target to $11.50.
Exane BNP Paribas analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Equifax Inc. (EFX) has been changed to Neutral from Outperform and the new price target is set at $290.00.
Analysts at Keybanc downgraded Olin Corporation (OLN)'s stock to Sector Weight from Overweight Monday.
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Latest Insider Activity
SoFi Technologies Inc. (SOFI) Vice Chairman - Galileo Wilkes Thomas Clayton announced the sale of shares taking place on Nov 18 at $21.60 for some 10,076,668 shares. The total came to more than $217.66 million.
Tesla Inc. (TSLA) Chief Financial Officer Kirkhorn Zachary sold on Nov 17 a total 53,662 shares at $1063.51 on average. The insider’s sale generated proceeds of almost $1.33 million.
Cleveland-Cliffs Inc. (CLF) EVP & President, CC Services Koci Keith declared the purchase of shares taking place on Nov 19 at $21.83 for some 10,000 shares. The transaction amount was around $0.22 million.
DraftKings Inc. (DKNG) Director Levin Woodrow bought on Nov 18 a total 19,495 shares at $36.81 on average. The purchase cost the insider an estimated $257,670.
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Important Earnings
Top US earnings releases scheduled for today include Zoom Video Communications Inc. (NASDAQ:ZM). It will announce its Oct 2021 financial results. The company is expected to report earnings of $1.09 per share from revenues of $1.02B in the three-month period.
Analysts expect Urban Outfitters Inc. (NASDAQ:URBN) to report a net income (adjusted) of $0.84 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2021 is predicted to come in at $1.12B.
Agilent Technologies Inc. (A), due to announce earnings after the market closes today, is expected to report earnings of $1.04 per share from revenues of $1.47B 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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