23 apr - morning newsletter

Good Morning

It was one of his spearheads during the American elections, higher taxes for the wealthy Americans. Joe Biden now appears to be coming up with concrete proposals to tax capital gains higher. According to the initial information, the president wants to raise $ 1 trillion with the raise, which would be used for childcare and other social measures, among other things. For Americans earning more than $1 million a year, the rate on capital gains would be increased from 20% to 39.6%. Added to this is a federal tax, which could bring the total tax burden on capital gains to 43.4%. Of course it is still negotiating, but the big question that US investors will be asking is, when will the increased rate apply and will it be applied retrospectively?​​​​​​​There was an initial normal response from Wall Street yesterday. The S&P 500 was down 0.92%. Ultimately, the broad US stock index closed at 4,135 points. Nasdaq 100, the US technology index, lost 1.24% and closed at 13,762 points. The Dow Jones price also went down 321 points, which amounted to 0.94%. The closing price was 33,815 points.

Clean Energy Stocks: Rare Metal Discovery & How to Profit in 2021 Investors are preparing for a massive profit windfall come January as the incoming administration sets its $1.7 Trillion Clean Energy Plan in motion. Many clean energy stocks will double in 2021. Yet, this tiny niche is set to deliver gains as high as 2,400%.Keep reading to get the name and symbol of a sub-$0.30 stock that controls a rare clean energy resource that China wants but can’t have.

Today Top Movers

Sypris Solutions Inc. (SYPR) stock soared 31.32% to $3.69 in the pre-market trading after getting a contract for the deep space program.

Jaguar Health Inc. (NASDAQ: JAGX) shares are trading up 11.81% at $1.61 at the time of writing. The company recently revealed the upsizing by $15.3 million of the at-the-market.

Ocugen Inc. (OCGN) grew over 12.27% at $10.43 in pre-market trading today after its COVID-19 vaccine co-development partner, Bharat Biotech, shared second interim results demonstrating 100% protection against severe disease including Hospitalization

Skillz Inc. (SKLZ), a Electronic Gaming & Multimedia company, rose about 5.91% at $17.55 in pre-market trading Friday.

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Top Upgrades & Downgrades

Morgan Stanley turned bullish on Skechers U.S.A. Inc. (SKX), upgrading the stock to "Overweight" and assigning a $56 price target, representing potential upside of 25.81% from Thursday's close.

American Airlines Group Inc. (AAL) has won the favor of Raymond James's equity research team. The firm upgraded the shares from Underperform to Market Perform.

Silicon Laboratories Inc. (SLAB) received an upgrade from analysts at KeyBanc, who also set their one-year price target on the stock to $185. They changed their rating on SLAB to Overweight from Sector Weight in a recently issued research note.

Earlier Friday Wolfe Research reduced its rating on Pioneer Natural Resources Co (PXD) stock to Peer Perform from Natural and assigned the price target to $167.

Wolfe Research analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Cabot Oil & Gas Corporation (COG) has been changed to Peer Perform from Outperform and the new price target is set at $22.

Analysts at Piper Sandler downgraded Kraft Heinz Co (KHC)'s stock to Neutral from Overweight Friday.

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Latest Insider Activity

salesforce.com inc. (CRM) Co-Founder and CTO Harris Parker announced the sale of shares taking place on Apr 20 at $228.55 for some 4,300 shares. The total came to more than $0.98 million.

Cloudflare Inc. (NET) CEO & Chair of the Board Prince Matthew sold on Apr 22 a total 0 shares at $76.34 on average. The insider’s sale generated proceeds of almost $4.0 million.

Outlook Therapeutics Inc. (OTLK) CEO, Pres, CFO, Treas & Secy KENYON LAWRENCE A declared the purchase of shares taking place on Apr 20 at $1.83 for some 10,000 shares. The transaction amount was around $18300.0.

Westwater Resources Inc. (WWR) Vice President and CFO VIGIL JEFFREY L. bought on Apr 20 a total 17,597 shares at $4.10 on average. The purchase cost the insider an estimated $7,175.

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Important Earnings

Top US earnings releases scheduled for today include Schlumberger Limited (NYSE:SLB). It will announce its Mar 2021 financial results. The company is expected to report earnings of $0.19 per share from revenues of $5.09B in the three-month period.

Analysts expect Regions Financial Corporation (NYSE:RF) to report a net income (adjusted) of $0.47 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2021 is predicted to come in at $1.55B.

American Express Company (AXP), due to announce earnings before the market opens today, is expected to report earnings of $1.61 per share from revenues of $9.17B 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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