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- 29 Mar - ST - Morning Newsletter (with survey at top and bottom)
29 Mar - ST - Morning Newsletter (with survey at top and bottom)
4 Must-Watch Stocks for Today
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Good Morning!
The session on March 28 at the major US stock exchanges ended upbeat. The S&P 500 gained 0.71% to hit 4576, the Dow Jones rose 0.27% and the Nasdaq rose 1.31%. Most sectors of the broad market index closed in positive territory. The growth leaders were the sectors of cyclical consumer goods (+2.67%), real estate (+1.28%) and IT (+1.23%). The energy sector turned out to be an outsider (-2.56%).Company news
HP Inc. (HPQ: +0.47%) acquires Plantronics Inc. (POLY: +52.6%) at $40 per share in cash. The deal is expected to close by the end of 2022.
Tesla Inc. (TSLA: +8%) asks shareholders to vote at the annual meeting on March 28 for the placement of additional shares for a subsequent split.
Barclays PLC (BCS: -10.6%) reported a loss of about $590 million as a result of issuing $15 billion more structured and exchange-traded bonds than it had registered for sale. Now these securities must be redeemed at the original price.
Investors Look to Capitalize on the Budding Green Revolution
Lithium is the uncontested fuel of the green energy revolution. One little-known small-cap lithium mining company in a renowned South American location has started attracting interest from opportunity-minded investors.
Today Top Movers
IGM Biosciences Inc. (IGMS) stock soared 38.96% to $20.83 in the pre-market trading after declaring Q4 and full year 2021 financial results.
TRxADE HEALTH Inc. (NASDAQ: MEDS) shares are trading up 12.39% at $2.63 at the time of writing. The company reported its financial results for the fourth quarter and year ended December 31, 2021.
Vertical Aerospace Ltd. (EVTL) grew over 11.11% at $7.7 in pre-market trading today as Avolon exceeded pre-order commitments and placed over 500 VX4 Aircraft with leading airlines.
Ginkgo Bioworks Holdings Inc. (DNA), a Biotechnology company, rose about 7.75% at $4.03 in pre-market trading Tuesday. The company reported $314 million of total revenue in 2021, representing an increase of 309% over 2020.
The Greatest Wealth Event since the Internet?
Between 1995 and its peak in March 2000, the Nasdaq Composite stock market index rose 400% due in large part to the Internet Boom. Our Analysts think this is going to happen again over the next 2-3 years. In fact, the Metaverse is already being built as we speak. Bloomberg Intelligence estimates that the market size for the Metaverse could reach $800 billion by 2024.
Top Upgrades & Downgrades
Stifel turned bullish on Hoegh LNG Partners LP (HMLP), upgrading the stock to "Buy" and assigning a $9.50 price target, representing potential upside of 43.19% from Monday's close.
SiteOne Landscape Supply Inc. (SITE) has won the favor of UBS's equity research team. The firm upgraded the shares from Sell to Neutral and moved their price target to $165.00, suggesting 0.43% additional upside for the stock.
Randolph Bancorp, Inc. (RNDB) received an upgrade from analysts at Compass Point. They changed their rating on RNDB to Buy from Neutral in a recently issued research note.
Earlier Tuesday Morgan Stanley reduced its rating on Pinterest Inc. (PINS) stock to Equal-Weight from Overweight and assigned the price target to $30.00.
Credit Suisse analysts reduced their investment ratings, saying in research reports covered by the media that its rating for The RealReal Inc. (REAL) has been changed to Neutral from Outperform and the new price target is set at $8.00.
Analysts at Piper Sandler downgraded RBB Bancorp (RBB)'s stock to Underweight from Neutral Tuesday.
Hottest Lithium Explorer that we Have our Eyes On
This company is currently looking to identify, explore, and develop battery metals technologies through an open-source application to meet the GROWING demand.
They're in such a unique position in the marketplace as not many know about this yet. The best part - this company is not only looking at one metal to explore but THREE including lithium, nickel, and cobalt.
Latest Insider Activity
AMC Entertainment Holdings Inc. (AMC) EVP, US OPERATIONS MCDONALD JOHN D announced the sale of shares taking place on Mar 23 at $20.00 for some 50,000 shares. The total came to more than $1.0 million.
Micron Technology Inc. (MU) SVP, Chief People Officer ARNZEN APRIL S sold on Mar 24 a total 89,172 shares at $76.00 on average. The insider’s sale generated proceeds of almost $0.43 million.
Ford Motor Company (F) Executive Chair and Chair FORD WILLIAM CLAY JR declared the purchase of shares taking place on Mar 24 at $16.81 for some 267,697 shares. The transaction amount was around $4.5 million.
Tonix Pharmaceuticals Holding Corp. (TNXP) Chief Executive Officer LEDERMAN SETH bought on Mar 25 a total 112,177 shares at $0.24 on average. The purchase cost the insider an estimated $24,500.
A Record-Breaking Year for Semiconductor Investors
AMD CEO Dr. Lisa Su told yahoo finance, "There's tremendous investment that's happening across the semiconductor industry..." Data Centers, Automobiles, and even Consumer Electronics manufacturers stand to gain from the semiconductor industry's record-breaking investments.
Important Earnings
Top US earnings releases scheduled for today include Academy Sports and Outdoors Inc. (NASDAQ:ASO). It will announce its Jan 2022 financial results. The company is expected to report earnings of $1.37 per share from revenues of $1.76B in the three-month period.
Analysts expect McCormick & Company Incorporated (NYSE: MKC) to report a net income (adjusted) of $0.62 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Feb 2022 is predicted to come in at $1.47B.
Conn's Inc. (CONN), due to announce earnings before the market opens today, is expected to report earnings of $0.46 per share from revenues of $409.12M 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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