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- 28 Sep - Morning Newsletter (with changes)
28 Sep - Morning Newsletter (with changes)
4 Stocks Beating Today's Sell-Off
Good Morning!
In the US, the S&P 500 fell 0.28% to 4,443 points. Unsurprisingly, of course, the strongest share in this broad stock index was the energy sector. Cabot Oil & Gas rose 8.46%. Nasdaq Composite fell 0.58% to 14,969 points, with Trip.com leading the pack with a daily result of plus 3.41%. The Dow Jones Industrial Average was the only one of the big three to rise 0.21%. The share of Dow Inc. was the leader in the Dow Jones Industrial Average with plus 5.07%. The US Congress is increasingly looking at the deadline for raising the debt ceiling. Millions of Americans will lose their jobs if Democrats and Republicans don't agree on the US debt ceiling. The political game for the so-called off-year elections (November 2, 2021) seems to be in full swing.
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Today Top Movers
Frequency Electronics Inc. (FEIM) stock soared 20.73% to $11.53 in the pre-market trading after announcing the award of a contract by the Office of Naval Research to develop the Pulsed Optically-Pumped Rubidium Atomic Frequency Standard.
Farmmi Inc. (NASDAQ: FAMI) shares are trading up 12.35% at $0.2666 at the time of writing. The company recently announced that it's subsidiary Zhejiang Forest Food Co., Ltd.., won an additional multi-product order for export to Israel.
Gogo Inc. (GOGO) grew over 8.76% at $13.29 in pre-market trading today after declaring that it has increased the long-term financial targets.
ZIVO Bioscience, Inc. (ZIVO) jumped about 35.57% at $5.87 in pre-market trading Tuesday. ZIVO is a Michigan-based biotech/agtech company engaged in the investigation of the health and nutritional benefits of bioactive compounds derived from its proprietary algal cultures.
5 stocks that will get you through anythingHow do they do it? Because there is no substitute for what they sell. Everyone buys it, even when money is tight. Including you. You might cancel the Caribbean cruise, but you're not going to stop paying for this. That nonstop demand means they're kicking the tar out of other stocks. Since early 2000, they have posted a 1,636% total return, towering above the S&P 500's 195%.See the 5 stocks here.
Top Upgrades & Downgrades
Barclays turned bullish on Sirius XM Holdings Inc. (SIRI), upgrading the stock to Equal-Weight and assigning a $6.00 price target.
Harpoon Therapeutics Inc. (HARP) has won the favor of Citigroup's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $16.00, suggesting 99.75% additional upside for the stock.
Puma Biotechnology Inc. (PBYI) received an upgrade from analysts at Citigroup. They changed their rating on PBYI to Buy from Neutral in a recently issued research note.
Earlier Tuesday New Street Research reduced its rating on Applied Materials Inc. (AMAT) stock to Neutral from Buy and assigned the price target to $140.00.
Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Logitech International S.A. (LOGI) has been changed to Underweight from Equal-Weight and the new price target is set at $82.00.
Analysts at Keybanc downgraded MGM Growth Properties LLC (MGP)'s stock to Sector Weight from Overweight Tuesday.
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Latest Insider Activity
Hayward Holdings Inc. (HAYW) Director Soucy Arthur L announced the sale of shares taking place on Sep 23 at $23.02 for some 5,514 shares. The total came to more than $0.13 million.
Snap Inc. (SNAP) Chief Executive Officer Spiegel Evan sold on Sep 27 a total 35,885,696 shares at $81.56 on average. The insider’s sale generated proceeds of almost $25.0 million.
Planet Green Holdings Corp. (PLAG) Chief Executive Officer Zhou Bin declared the purchase of shares taking place on Sep 27 at $2.60 for some 1,320,000 shares. The transaction amount was around $3.43 million.
Evergy Inc. (EVRG) Director WILDER C JOHN bought on Sep 24 a total 2,309,027 shares at $63.52 on average. The purchase cost the insider an estimated $1.25 million.
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Important Earnings
Top US earnings releases scheduled for today include China Online Education Group (NYSE:COE). It will announce its Jun 2021 financial results. The company is expected to report earnings of -$0.31 per share from revenues of $90.92M in the three-month period.
Analysts expect IHS Markit Ltd. (NYSE:INFO) to report a net income (adjusted) of $0.83 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Aug 2021 is predicted to come in at $1.17B.
Micron Technology Inc. (MU), due to announce earnings after the market closes today, is expected to report earnings of $2.33 per share from revenues of $8.22B 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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