24 Sep - Morning Newsletter (with changes)

Good Morning!

In the US we saw a nice recovery movement. The S&P 500 gained 1.21% and closed at 4,448 points. The strongest stock in the index was Devon Energy, with a green 7.75% on the boards. The technology exchange Nasdaq Composite climbed 1.04% and Marriott International was the mainstay, rising 3.82%. The Dow Jones Industrial Average was the strongest index of the big three. The Dow climbed 1.48%. Shares of Salesforce, which were added to the Dow Jones Index last year, were number one at plus 7.21% during the closing bell.Another big story in the US is the ' debt ceiling' . The debt ceiling is the maximum amount that the US government can borrow from the financial market, for example by issuing government bonds. This ceiling has now almost been reached and the US is almost out of money. The Democrats want to raise the debt ceiling so that the government can again issue bonds, but the Republicans are holding off for now. In his own words, because of the huge investment plan that Biden announced a few months ago. The pressure on the US government is great. Treasury Secretary Janet Yellen speaks of a historic economic crisis if the US cannot meet its financial obligations. It is estimated that the US will run out of money by mid-October.This could be the new driver for the stock market in the coming months, both positive and negative.

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Today Top Movers

vTv Therapeutics Inc. (VTVT) stock soared 30.51% to $2.31 in the pre-market trading after announcing results of a multiple ascending dose study evaluating HPP737, an orally administered phosphodiesterase type 4 (“PDE4”) inhibitor, in healthy adults.

Aehr Test Systems (NASDAQ: AEHR) shares are trading up 23.94% at $14.6 at the time of writing after reporting record bookings in the first quarter of Fiscal 2022.

Meredith Corporation (MDP) grew over 18.94% at $53.39 in pre-market trading today. IAC/InterActiveCorp . is in advanced talks to acquire magazine publisher Meredith Corp. , owner of brands including People and Better Homes & Gardens, according to people familiar with the situation, in an effort to build more scale in online publishing.

Focus Universal Inc. (FCUV), a Scientific & Technical Instruments company, rose about 22.18% at $13.11 in pre-market trading Friday. The company is a provider of patented hardware and software design technologies for Internet of Things (IoT) and 5G.

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Top Upgrades & Downgrades

Jefferies turned bullish on BJ's Restaurants Inc. (BJRI), upgrading the stock to "Buy" and assigning a $55.00 price target, representing a potential upside of 31.17% from Thursday's close.

Chuy's Holdings Inc. (CHUY) has won the favor of Jefferies's equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $41.00, suggesting 30.82% additional upside for the stock.

Dave & Buster's Entertainment Inc. (PLAY) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $56.00. They changed their rating on PLAY to Buy from Hold in a recently issued research note.

Earlier Friday Seaport Global reduced its rating on Hexcel Corporation (HXL) stock to Neutral from Buy.

Wells Fargo analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Roku Inc. (ROKU) has been changed to Equal Weight from Overweight and the new price target is set at $350.00.

Analysts at Grupo Santander downgraded Grupo Aval Acciones y Valores S.A. (AVAL)'s stock to Hold from Buyl Friday.

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Latest Insider Activity

Palantir Technologies Inc. (PLTR) See Remarks Cohen Stephen Andrew announced the sale of shares taking place on Sep 23 at $28.65 for some 161,820 shares. The total came to more than $4.64 million.

Facebook Inc. (FB) COB and CEO Zuckerberg Mark sold on Sep 22 a total 0 shares at $344.34 on average. The insider’s sale generated proceeds of almost $26.62 million.

Enterprise Products Partners L.P. (EPD) Co-Chief Executive Officer TEAGUE AJ declared the purchase of shares taking place on Sep 21 at $21.69 for some 1,000 shares. The transaction amount was around $21690.0.

Broadcom Inc. (AVGO) Director FERNANDEZ RAUL J bought on Sep 21 a total of 2,069 shares at $493.49 on average. The purchase cost the insider an estimated $74,517.

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Important Earnings

Top US earnings releases include Carnival Corporation & plc (NYSE:CCL). It will announce its Aug 2021 financial results. The company is expected to report earnings of -$1.48 per share from revenues of $720.84M in the three-month period.

Analysts expect FactSet Research Systems Inc. (NYSE:FDS) to report a net income (adjusted) of $2.72 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Aug 2021 is predicted to come in at $404.97M.

IHS Markit Ltd. (INFO), due to announce earnings after the market closes today, is expected to report earnings of $0.83 per share from revenues of $1.17B 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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