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- 29 June - NH - Morning Newsletter
29 June - NH - Morning Newsletter
Morning Alert: Top Movers, Analyst Ratings & Insider Activity
Good Morning!
The S&P 500 has set a new all-time high for the third day in a row. The broad US stock index closed 0.23% higher at 4,290 points. The strongest share was Enphase Energy with a green 7.3% on the plates. Energy stocks got off to a strong start to the week with extremely strong energy commodity prices. Prices of natural gas and oil have risen sharply in recent weeks. The technology index Nasdaq 100 rose 0.98% to the round number 14,500 points. The strongest share of the technology exchange was Activision Blizzard with an increase of 3.4 %. The Dow Jones Industrial Average fell 0.44% and closed at 34,283 points. The strongest share of the Dow was the Intel share with an increase of 2.81%.
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Today Top Movers
BSQUARE Corporation (BSQR) stock soared 85.88% to $4.87 in the pre-market trading.
Exela Technologies Inc. (NASDAQ: XELA) shares are trading up 29.93% at $1.91 at the time of writing. Company’s 52-week ranged between $0.99 to $7.82.
Smart Sand Inc. (SND) grew over 4.92% at $3.2 in pre-market trading today.The company recently declared that it has entered Into a $35 million settlement with U.S. Well Services, LLC.
Hollysys Automation Technologies Ltd. (HOLI), a Electrical Equipment & Parts company, rose about 12.88% at $16.04 in pre-market trading Tuesday. The buyer consortium consisting of CPE Funds Management Limited, Mr. Shao Baiqing, and Ace Lead Profits Limited today commenced a solicitation of consents from shareholders of Hollysys Automation Technologies Ltd. (HOLI) regarding the Consortium’s proposed acquisition of the Company.
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Top Upgrades & Downgrades
Morgan Stanley turned bullish on Textron Inc. (TXT), upgrading the stock to "Overweight" and assigning a $87 price target.
Ultragenyx Pharmaceutical Inc. (RARE) has won the favor of BofA's equity research team. The firm upgraded the shares from Neutral to Buy with a price target of $162.00.
CSX Corporation (CSX) received an upgrade from analysts at Citi, who also set their one-year price target on the stock to $116.00. They changed their rating on CSX to Buy from Neutral in a recently issued research note.
Piper Sandler analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Carvana Co. (CVNA) has been changed to Neutral from Overweight with a price target of $306.00.
Analysts at Citi downgraded Kansas City Southern (KSU)'s stock to Neutral from Buy Tuesday.
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Latest Insider Activity
Cigna Corporation (CI) Director Granger Elder announced the sale of shares taking place on Jun 28 at $237.06 for some 4,844 shares. The total came to more than $1.15 million.
Dell Technologies Inc. (DELL) Chief Executive Officer DELL MICHAEL S sold on Jun 28 a total 5,951,255 shares at $99.81 on average. The insider’s sale generated proceeds of almost $96.49 million.
Foley Trasimene Acquisition Corp. (WPF) See Remarks Gravelle Michael L declared the purchase of shares taking place on Jun 28 at $9.98 for some 10,000 shares. The transaction amount was around $99843.0.
Doximity Inc. (DOCS) 10% Owner EMERGENCE CAPITAL PARTNERS II bought on Jun 28 a total 775,000 shares at $26.00 on average. The purchase cost the insider an estimated $20.15 million.
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Important Earnings
Top US earnings releases scheduled for today include AMMO Inc. (NASDAQ:POWW). It will announce its Mar 2021 financial results. The company is expected to report earnings of -$0.01 per share from revenues of $23.95M in the three-month period.
Analysts expect Enerpac Tool Group Corp. (NYSE:EPAC) to report a net income (adjusted) of $0.18 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended May 2021 is predicted to come in at $137.44M.
Avid Bioservices Inc. (CDMO), due to announce earnings after the market closes today, is expected to report earnings of $0 per share from revenues of $21.6M 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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