23 June - NH - Morning Newsletter

Good Morning!

On June 22, American stock markets showed positive dynamics. The S&P 500 rose 0.51% to 4246 points. The Dow Jones added a modest 0.2% while the Nasdaq climbed 0.79% to hit its all-time high. The best results were shown by the sector of cyclical consumer goods (+ 1.04%) and the IT sector (+ 0.89%). Utilities (-0.68%) and the real estate sector (-0.44%) traded below the market.Technically, the S&P 500 is continuing its long-term uptrend. The day before, the broad market index maintained its momentum, formed as a result of a rebound from the support level of 4170 points. The RSI indicator indicates the strength of the bulls, while there is still significant potential for further growth. The basic scenario is a movement to new all-time highs after a short-term consolidation.

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Today Top Movers

Acasti Pharma Inc. (ACST) stock soared 33.89% to $0.723 in the pre-market trading. The company recently provided an update on its plans to acquire Grace Therapeutics and the ongoing strategic process for CaPre.

XPeng Inc. (NYSE: XPEV) shares are trading up 5.2% at $42.07 at the time of writing after receiving the green light from the Hong Kong stock exchange to list in the city, the latest homecoming share sale by a Chinese company.

Tiziana Life Sciences PLC (TLSA) grew over 11.74% at $2.57 in pre-market trading today following an announcement from the company that it has signed an agreement with FHI Clinical, to conduct a phase 2 clinical trial for treating hospitalized severe COVID-19 patients with Intranasal Foralumab, a fully human Anti-CD3 monoclonal antibody

Loop Industries Inc. (LOOP), a Specialty Chemicals company, rose about 10.01% at $14.51 in pre-market trading Wednesday. The company revealed that it intends to form a strategic partnership with SK global chemical Co. Ltd.

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Top Upgrades & Downgrades

Keybanc turned bullish on Parker-Hannifin Corporation (PH), upgrading the stock to Overweight and assigning a $350.00 price target, representing potential upside of 21.03% from Tuesday's close.

Accenture plc (ACN) has won the favor of Exane BNP Paribas' equity research team. The firm upgraded the shares from Neutral to Outperform and moved their price target to $335.00.

Huntington Bancshares Incorporated (HBAN) received an upgrade from analysts at Raymond James, who also set their one-year price target on the stock to $18.00. They changed their rating on HBAN to Buy from Outperform in a recently issued research note.

Earlier Wednesday JP Morgan reduced its rating on RPM International Inc. (RPM) stock to Underweight from Neutral and assigned the price target to $90.00.

Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for LPL Financial Holdings Inc. (LPLA) has been changed to Buy from Conviction Buy.

Analysts at Canaccord Genuity downgraded Plug Power Inc. (PLUG)'s stock to Hold from Buy Wednesday.

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Latest Insider Activity

Ford Motor Company (F) President, Ford of Europe Rowley Stuart J. announced the sale of shares taking place on Jun 21 at $14.82 for some 37,414 shares. The total came to more than $0.55 million.

Peloton Interactive Inc. (PTON) Director Draft Howard C. sold on Jun 17 a total 264,167 shares at $107.99 on average. The insider’s sale generated proceeds of almost $1.62 million.

Idera Pharmaceuticals Inc. (IDRA) CHIEF OPERATING OFFICER SOLAND DANIEL B declared the purchase of shares taking place on Jun 18 at $1.19 for some 50,000 shares. The transaction amount was around $59500.0.

Beyond Air Inc. (XAIR) Director Carey Robert bought on Jun 17 a total 481,418 shares at $5.36 on average. The purchase cost the insider an estimated $1.88 million.

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Important Earnings

Top US earnings releases scheduled for today include KB Home (NYSE:KBH). It will announce its May 2021 financial results. The company is expected to report earnings of $1.31 per share from revenues of $1.5B in the three-month period.

Analysts expect Steelcase Inc. (NYSE:SCS) to report a net income (adjusted) of -$0.31 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended May 2021 is predicted to come in at $554.87M.

H.B. Fuller Company (FUL), due to announce earnings after the market closes today, is expected to report earnings of $0.92 per share from revenues of $764.37M 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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