24 mar - morning newsletter

Good Morning

American stock exchanges closed in the red. The S&P 500 index dropped 0.76% to 3911 points, the Dow Jones lost 0.94%, the NASDAQ fell 1.12%. Most sectors of the S&P 500 showed negative dynamics, the decline was led by the sector of raw materials and materials (-2.1%) after the publication of data on aluminum inventories in China. The leader of growth was the utilities sector (+ 1.53%) against the background of the continuing decline in Treasury yields. Company news AstraZeneca (AZN: -3.5%) vaccine test results may be based on incomplete or outdated data, according to US health officials.ViacomCBS (VIAC: -9.1%) announced plans to hold an SPO and raise $ 3 billion.BioLife Solutions (BLFS: + 8.8%) will acquire Stirling Ultracold. The deal will be financed by BLFS shares issued during the SPO in the amount of 6.6 million shares. What to expect today Today, global stock markets are showing mixed dynamics. There are signs that the retail bulls are no longer inclined to bring funds to the market from the latest fiscal stimulus package. For example, the number of tradable call options contracts has dropped from over 30 million in January to 20 million this week. The January surge was directly driven by the receipt of incentive checks, but now, with a new wave of payments replenishing the accounts of US citizens, the volume of injections into shares is falling, although it is still at fairly high levels. With the easing of quarantine measures and the beginning of the tourist season, Americans may prefer to spend incentive payments not on replenishing a brokerage account, but on vacation and travel. 

Profit-Alert: Tiny Gold Firm Hits Paydirt Next to Industry Giants Smart investors are loading up on a tiny gold exploration firm - trading below 50 cents a share - that's developing not one but two gold projects in Nevada's famed Carlin Trend. Its flagship project is right next door to a giant discovery by industry behemoths Barrick and Newmont. With multiple drill rigs and nearly half a million ounces already discovered, 10-fold upside may prove conservative.Learn more here...

Today Top Movers

Cinedigm Corp. (CIDM) stock soared 45.7% to $2.2 in the pre-market trading. The company recently declared an agreement with Frndly TV to bring Dove Channel's vast library of positive, uplifting programming to Frndly TV subscribers.

Color Star Technology Co. Ltd. (CSCW) grew over 59.48% at $1.85 in pre-market trading today.

Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV) shares are trading up 79.65% at $7.24 at the time of writing following the declaration of partnership with Dolphin Entertainment to offer non-fungible tokens ("NFTs").

Genius Brands International Inc. (GNUS), a Entertainment company, rose about 10.65% at $2.91 in pre-market trading Wednesday.

Are Contact-less Sales In Cannabis The Next Big Investor Cash Out?Sales are set to increase from $10 billion in 2018 to an estimated $97 billion by 2026, according to a new report from Fortune Business Insights... And this company is using AI to create a unique self-service experience that has never existed before. It's no wonder more and more investors are jumping in before this blows up.

Learn more

Top Upgrades & Downgrades

DZ Bank turned bullish on Nokia Corporation (NOK), upgrading the stock to "Hold" from Sell.

Matador Resources Company (MTDR) has won the favor of MKM Partners' equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $30, suggesting 35.93% additional upside for the stock.

Continental Resources Inc. (CLR) received an upgrade from analysts at MKM Partners, who also set their one-year price target on the stock to $34. They changed their rating on CLR to Buy from Neutral in a recently issued research note.

Earlier Wednesday Morgan Stanley reduced its rating on Freeport-McMoRan Inc. (FCX) stock to Equal Weight from Overweight.

Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for AngloGold Ashanti Limited (AU) has been changed to Equal Weight from Overweight.

Analysts at DNB Markets downgraded ABB Ltd (ABB)'s stock to Hold from Buy Wednesday.

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Latest Insider Activity

Sunrun Inc. (RUN) General Counsel STEELE JEANNA announced the sale of shares taking place on Mar 23 at $60.17 for some 5,243 shares. The total came to more than $0.32 million.

The Kroger Co. (KR) Senior Vice President Tuffin Mark C sold on Mar 22 a total 222,243 shares at $36.00 on average. The insider’s sale generated proceeds of almost $0.76 million.

Support.com Inc. (SPRT) Director Bloom Richard A declared the purchase of shares taking place on May 14 at $1.22 for some 644 shares. The transaction amount was around $786.0.

Amcor plc (AMCR) Director Long Nicholas T. bought on Jan 15 a total 4,031 shares at $11.16 on average. The purchase cost the insider an estimated $22.

Five stocks that could continue to grow in 2021In addition to the incredible returns they were offered by vaccine stocks, some of the biggest winners of 2020 could also be found in electric vehicles, technology, video games, and online betting. The best part - each of those industries could see higher highs in New Year 2021.Here are some of the top picks you may want to consider.Click Here to Download the FREE Report

Important Earnings

Top US earnings releases scheduled for today include Seanergy Maritime Holdings Corp. (NASDAQ:SHIP). It will announce its Dec 2020 financial results. The company is expected to report earnings of -$0.02 per share from revenues of $22.32M in the three-month period.

Analysts expect Electrameccanica Vehicles Corp. (NASDAQ:SOLO) to report a net income (adjusted) of -$0.08 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2021 is predicted to come in at $450k.

American Well Corporation (AMWL), due to announce earnings after the market closes today, is expected to report earnings of -$0.26 per share from revenues of $54M 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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