27 Aug - NH - Morning Newsletter

Good Morning!

Futures for US stock indexes are showing growth on Friday, while investors await the speech of the head of the US Federal Reserve System (FRS) Jerome Powell at the conference in Jackson Hole, trading data showed.The Dow Jones Industrial Index (DJIA) futures are growing by 0.29%, to 35263 points, on the NASDAQ high-tech index - by 0.35%, to 15327.5 points, on the broad market S&P 500 index - by 0.32%, to 4481 points.The main event for the markets remains the speech of the head of the Federal Reserve, which will take place later on Friday. They expect to get an idea of the plans for monetary stimulus in the US, especially with regard to the timing of winding up the program of buyback of financial assets from the market.

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Today Top Movers

Support.com Inc. (SPRT) stock soared 45.74% to $28.71 in the pre-market trading. The stock is moving high on epic short squeeze and a benefit from a cryptocurrency connection.

Navios Maritime Acquisition Corporation (NYSE: NNA) shares are trading up 38.1% at $2.9 at the time of writing after announcing a definitive merger agreement with Navios Maritime Partners L.P.

Workday Inc. (WDAY) grew over 6.08% at $261.76 in pre-market trading today after reportnig $1.26 billion total revenues in fiscal 2022 second quarter financial results.

The Gap Inc. (GPS), an Apparel Retail company, rose about 7.63% at $28.36 in pre-market trading Friday. The comaany reported $4.2 billion net sales in second quarter results.

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Top Upgrades & Downgrades

Wells Fargo turned bullish on Farfetch Limited (FTCH), upgrading the stock to Overweight and assigning a $55.00 price target, representing potential upside of 35.8% from Friday's close.

Credicorp Ltd. (BAP) has won the favor of HSBC's equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $130.00, suggesting 26.68% additional upside for the stock.

Dave & Buster's Entertainment Inc. (PLAY) received an upgrade from analysts at Truist Securities, who also set their one-year price target on the stock to $54.00. They changed their rating on PLAY to Buy from Hold in a recently issued research note.

Earlier Friday Morgan Stanley reduced its rating on Advance Auto Parts Inc. (AAP) stock to Equal-Weight from Overweight and assigned the price target to $220.00.

Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Five Below Inc. (FIVE) has been changed to Equal-Weight from Overweight and the new price target is set at $230.00.

Analysts at Telsey Advisory Group downgraded Dollar Tree Inc. (DLTR)'s stock to Market Perform from Outperform Friday.

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Latest Insider Activity

Ontrak Inc. (OTRK) Executive Chairman PEIZER TERREN S announced the sale of shares taking place on Aug 26 at $11.60 for some 15,000 shares. The total came to more than $0.17 million.

Apollo Global Management Inc. (APO) Director HARRIS JOSHUA sold on Aug 26 a total 0 shares at $58.17 on average. The insider’s sale generated proceeds of almost $2.16 million.

Antero Midstream Corporation (AM) See Remarks Krueger Brendan E. declared the purchase of shares taking place on Aug 26 at $9.30 for some 11,000 shares. The transaction amount was around $0.1 million.

Enterprise Products Partners L.P. (EPD) Director Rutherford John R bought on Aug 26 a total 48,716 shares at $22.19 on average. The purchase cost the insider an estimated $221,940.

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Important Earnings

Top US earnings releases scheduled for Monday include Cloudera Inc. (NYSE:CLDR). It will announce its Jul 2021 financial results. The company is expected to report earnings of $0.09 per share from revenues of $227.19M in the three-month period.

Analysts expect Catalent Inc. (NYSE:CTLT) to report a net income (adjusted) of $1.03 per share, when the company releases its quarterly results. Revenue for the fiscal quarter ended Jun 2021 is predicted to come in at $1.14B.

Li Auto Inc. (LI), due to announce earnings before the market opens Monday, is expected to report earnings of -$0.04 per share from revenues of $4.41B 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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