25 Oct - Morning Newsletter (with changes)

Good Morning!

Key US stock index futures have been little changed on Monday, with investors awaiting the release of financials from big tech companies. Futures on the Dow Jones Industrial Average (DJIA) dropped 0.01% to 353554 points, on the NASDAQ high-tech index added 0.23%, to 15376.25 points, on the broad market S&P 500 index rose 0.09% to 4540.5 points.Last week, the Fed chairman signalled that tapering may be possible at the next FOMC meeting. He immediately added that an interest rate hike is not yet on the agenda. About a third of all S&P 500 companies are releasing their quarterly earnings this week. Today it's the turn of Facebook and HSBC, among others, and tomorrow it's time to look forward to the heavyweights Alphabet, Advanced Micro Devices, Microsoft, Twitter and Visa.

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Today Top Movers

Creatd Inc. (CRTD) stock soared 94.43% to $8.03 in the pre-market trading after declaring its second non-fungible token (NFT) art drop.

PAE Incorporated (NASDAQ: PAE) shares are trading up 62.88% at $9.61 at the time of writing following the declaration from the company that it has entered into a definitive agreement to be acquired by an affiliate of Amentum Government Services Holdings LLC.

Inpixon (INPX) grew over 44.28% at $1.1 in pre-market trading today. Inpixon and Ostendo recently reported that they are bringing augmented reality to Miami Beach with Immersive 'ExperienceApp' and innovative smart glasses.

Remark Holdings Inc. (MARK), a Internet Content & Information company, rose about 278.8% at $8.22 in pre-market trading Monday. The company delivers an integrated suite of AI solutions that enable businesses and organizations to solve problems, reduce risk and deliver positive outcomes.

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Top Upgrades & Downgrades

JP Morgan turned bullish on Vir Biotechnology Inc. (VIR), upgrading the stock to "Neutral" and assigning a $37.00 price target.

Five9 Inc. (FIVN) has won the favor of Keybanc's equity research team. The firm upgraded the shares from Sector Weight to Overweight and moved their price target to $200.00, suggesting 23.89% additional upside for the stock.

Essex Property Trust Inc. (ESS) received an upgrade from analysts at Keybanc, who also set their one-year price target on the stock to $349.00. They changed their rating on ESS to Overweight from N/A in a recently issued research note.

Earlier Monday Wells Fargo reduced its rating on Revance Therapeutics Inc. (RVNC) stock to Equal-Weight from Overweight and assigned the price target to $17.00.

Credit Suisse analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Paysafe Limited (PSFE) has been changed to Neutral from Outperform and the new price target is set at $9.00.

Analysts at Piper Sandler downgraded Independent Bank Corp. (INDB)'s stock to Neutral from Overweight Monday.

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Latest Insider Activity

DraftKings Inc. (DKNG) Robins Jason announced the sale of shares taking place on Oct 21 at $49.33 for some 333,334 shares. The total came to more than $16.44 million.

Hyliion Holdings Corp. (HYLN) CHIEF EXECUTIVE OFFICER Healy Thomas J. sold on Oct 20 a total 33,672,856 shares at $7.77 on average. The insider’s sale generated proceeds of almost $1.55 million.

Lamb Weston Holdings Inc. (LW) Director NIBLOCK ROBERT A declared the purchase of shares taking place on Oct 20 at $56.40 for some 2,500 shares. The transaction amount was around $0.14 million.

E2open Parent Holdings Inc. (ETWO) Chief Financial Officer Janik Jarett bought on Oct 20 a total 78,720 shares at $11.84 on average. The purchase cost the insider an estimated $23,680.

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Important Earnings

Top US earnings releases scheduled for today include Facebook Inc. (NASDAQ:FB). It will announce its Sep 2021 financial results. The company is expected to report earnings of $3.19 per share from revenues of $29.58B in the three-month period.

Analysts expect AGNC Investment Corp. (NASDAQ:AGNC) to report a net income (adjusted) of $0.65 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2021 is predicted to come in at $285.17M.

Axalta Coating Systems Ltd. (AXTA), due to announce earnings after the market closes today, is expected to report earnings of $0.34 per share from revenues of $1.1B 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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