25 may - morning newsletter

Good Morning!

On May 24, trading on American stock markets closed in the green zone. The S&P 500 rose 0.99% to 4197 points. The Nasdaq climbed 1.41% and the Dow Jones added 0.54%. The overwhelming majority of the S&P 500 sectors showed positive dynamics. IT sector companies (+1.76%) and telecoms (+1.85%) outperformed the market. The flow of capital from “value” securities to “growth” shares continues amid a calm news background and the absence of negative drivers. The decline in Treasury yields also had a positive impact on the stock market. The investment community is gradually getting used to high rates of price growth, and the focus of attention is slightly shifting to the infrastructure package.The positive impulse set on the eve remains on the world stock markets today. Asia and Europe are trading in the green, S&P 500 futures are going up. Asian stock markets are in the green. Hong Kong's Hang Seng is up 1.75%, China's CSI 300 is up 3.16%, and Japan's Nikkei 225 is up 0.67%. EuroStoxx 50 is up 0.45%. Risk appetite is moderate. The yield on the 10-year Treasury declines to 1.60%. Brent crude oil futures are close to $ 68 per barrel. Gold is still trading at $ 1,880 per troy ounce.

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Today Top Movers

U.S. Well Services, Inc. (USWS) stock soared 26.34% to $1.21 in the pre-market trading after declaring its commitment to becoming an all-electric hydraulic fracturing services provider and expects to have fully exited the diesel frac market by the end of Q4 2021.

Ault Global Holdings, Inc. (DPW) shares are trading up 17.02% at $2.75 at the time of writing. The company declared financial results for its first quarter ended March 31, 2021.DPW reported an increase of 136% in revenue.

New Oriental Education & Technology Group Inc. (EDU) grew over 11.91% at $10.15 in pre-market trading today after reported results for the third fiscal quarter ended February 28, 2021.

Up Fintech Holding Ltd (TIGR) rose about 5.72% at $18.12 in pre-market trading Tuesday. The firm announced its unaudited financial results for the first quarter ended March 31, 2021.

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Top Upgrades & Downgrades

MKM Partners turned bullish on Canopy Growth Corporation (CGC), upgrading the stock to "Buy" from Neutral.

Nordic American Tankers Limited (NAT) has won the favor of Evercore ISI's equity research team. The firm upgraded the shares from Underperform to In Line.

Delek US Holdings, Inc. (DK) received an upgrade from analysts at Piper Sandler, who also set their one-year price target on the stock to $30. They changed their rating on DK to Overweight from Neutral in a recently issued research note.

Earlier Tuesday Macquarie reduced its rating on Extended Stay America, Inc. (STAY) stock to Neutral from Outperform and assigned the price target to $19.50.

JMP Securities analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Strongbridge Biopharma plc (SBBP) has been changed to Market Perform from Outperform.

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Latest Insider Activity

Raytheon Technologies Corporation (RTX) EVP,Chf Transformation Officer Dumais Michael R announced the sale of shares taking place on May 24 at $86.27 for some 4,552 shares. The total came to more than $0.39 million.

GlaxoSmithKline plc (GSK) 10% Owner GLAXOSMITHKLINE PLC sold on May 20 a total 32,005,260 shares at $12.25 on average. The insider’s sale generated proceeds of almost $392.06 million.

Savara Inc. (SVRA) CHIEF EXECUTIVE OFFICER Pauls Matthew declared the purchase of shares taking place on May 21 at $1.63 for some 10,000 shares. The transaction amount was around $16298.0.

LendingClub Corporation (LC) Director LANDON ALLAN R bought on May 20 a total 8,589 shares at $12.40 on average. The purchase cost the insider an estimated $12,400.

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Important Earnings

Top US earnings releases scheduled for today include Nordstrom Inc. (NYSE:JWN). It will announce its Apr 2021 financial results. The company is expected to report earnings of -$0.57 per share from revenues of $2.9B in the three-month period.

Analysts expect Zscaler Inc. (NASDAQ:ZS) to report a net income (adjusted) of $0.07 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Apr 2021 is predicted to come in at $163.71M.

ReneSola Ltd (SOL), due to announce earnings after the market closes today, is expected to report earnings of -$0.02 per share from revenues of $19.04M 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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