25 mar- NH - Morning Newsletter

4 Best Performing Stocks That Can't Be Ignored

March 25, 2021

Good Morning

American stock indices closed lower on Wednesday. Investors continued to divest the technology stocks that were market leaders last year.All three major indices closed in negative territory, although they started the trading day with growth. In the course of trading, losses in technology stocks increased, putting pressure on the Nasdaq Composite and S&P 500. The Dow Jones Industrial Average went into negative territory just before the close of trading.Markets are fluctuating this week. Investors are trying to understand the reasons for the volatility that persists in the US government bond market. Equity managers are also analyzing stock valuations that have emerged during the growth of the leading US indices, which have gained more than 70% since last March.Meanwhile, investors point out that the reason for the indices collapse at the end of the day is not yet clear.Ultimately, the Dow fell 3.09 points, or less than 0.1%, to 32,420.06, although it traded more than 360 points during the session. The S&P 500 closed down 21.38 points, or 0.5%, at 3889.14, also starting the day higher.The Nasdaq Composite fell 265.81 points, or 2%, to 12961.89. Over the past two days, the index has shown the largest drop since March 4.The 10-year Treasury yield declined on Wednesday for the fourth day in a row, to 1.613% from 1.637% on Tuesday. Last week, it climbed to 1.730%, while at the beginning of 2021 it was less than 1%.Despite comments from Fed Chairman Jerome Powell that the central bank will continue to support the economy until the recovery is stronger, fund managers also fear a sharp acceleration in inflation, which could force the Fed to raise interest rates or cut bond purchases. 

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Today Top Movers

Cellect Biotechnology Ltd. (APOP) stock soared 80.23% to $6.29 in the pre-market trading following the announcement of merger with Quoin Pharmaceuticals.

Enochian Biosciences Inc. (NASDAQ: ENOB) shares are trading up 40.29% at $4.91 at the time of writing. The company and Seraph Research Institute recently published a case report of complete remission of Recurrent Glioblastoma with Innovative Therapy.

Cinedigm Corp. (CIDM) grew over 27.78% at $2.07 in pre-market trading today.

Ault Global Holdings Inc. (DPW), a Electrical Equipment & Parts company, dropped about -0.67% at $2.95 in pre-market trading Thursday after the company’s Coolisys Technologies Corp., has received a $10.5 million purchase order for 30,000 7kW residential EV charging systems.

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Top Upgrades & Downgrades

Wolfe Research turned bullish on iHeartMedia Inc. (IHRT), upgrading the stock to "Outperform" and assigning a $24 price target.

Intel Corporation (INTC) has won the favor of DZ Bank's equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $76.

Maxar Technologies Inc. (MAXR) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $47.0. They changed their rating on MAXR to Overweight from Neutral in a recently issued research note.

Earlier Thursday Citi reduced its rating on AllianceBernstein Holding L.P. (AB) stock to Neutral from Buy and assigned the price target to $40.0.

Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for eHealth Inc. (EHTH) has been changed to Neutral from Buy and the new price target is set at $63.

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Latest Insider Activity

Skillz Inc. (SKLZ) Chief Executive Officer Paradise Andrew announced the sale of shares taking place on Mar 23 at $23.34 for some 8,402,866 shares. The total came to more than $196.12 million.

Peloton Interactive Inc. (PTON) Chief Bus. Operations Officer Garavaglia Mariana sold on Mar 23 a total 1,101 shares at $110.32 on average. The insider’s sale generated proceeds of almost $3.62 million.

LiveXLive Media Inc. (LIVX) CEO & Chairman ELLIN ROBERT S declared the purchase of shares taking place on Mar 17 at $4.60 for some 3,000 shares. The transaction amount was around $13800.0.

Agile Therapeutics Inc. (AGRX) Chief Financial Officer Reilly Dennis bought on Mar 23 a total 156,306 shares at $2.05 on average. The purchase cost the insider an estimated $102,500.

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Important Earnings

Top US earnings releases scheduled for today include Momo Inc. (NASDAQ:MOMO). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.42 per share from revenues of $563.03M in the three-month period.

Analysts expect Boxlight Corporation (NASDAQ:BOXL) to report a net income (adjusted) of -$0.11 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $27.18M.

Phunware Inc. (PHUN), due to announce earnings after the market closes today, is expected to report earnings of -$0.08 per share from revenues of $3.2M 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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