3 June - NH - Morning Newsletter

4 Best Performing Stocks That Can't Be Ignored

June 03, 2021

Good Morning!

Futures for major US stock indexes show negative dynamics on Thursday in anticipation of a portion of data from the US labor market, according to trading data.Futures on the Dow Jones Industrial Average (DJIA) decreased by 0.29%, to 34492 points, on the NASDAQ high-tech index - by 0.31%, to 13631.25 points, futures on the S&P 500 broad market index - by 0.3%, to 4193.6 points.Investors are awaiting a number of US labor market statistics on Thursday and Friday. First, the analytical company Automatic Data Processing (ADP) will publish data on the change in the number of jobs in private companies in the country in May. Analysts expect the indicator to grow by 650 thousand after rising by 742 thousand a month earlier. Then the Ministry of Labor will publish data on the number of applications for unemployment benefits in the United States over the past week. Analysts expect the indicator to decrease to 390 thousand from 406 thousand a week earlier.The key moment of this week may be the Friday publication of the US Department of Labor data on employment in the country. Analysts expect a decrease in the unemployment rate in the country in May to 5.9% from 6.1% in April and an increase in the number of people employed in non-agricultural sectors of the economy by 664 thousand after the April rise by 266 thousand.Traders are waiting for this data to assess the possible reaction of the US Federal Reserve to it. There are still expectations in the markets that with a confident recovery of the American economy, the regulator may start talking about the start of monetary tightening earlier than originally planned.

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Today Top Movers

Sundial Growers Inc. (SNDL) stock soared 23.45% to $1.395 in the pre-market trading.

1847 Goedeker Inc. (AMEX: GOED) shares are trading up 13.91% at $2.62 at the time of writing after closing of $205 million public offering, $70 million debt financing and acquisition of Appliances Connection.

AMC Entertainment Holdings Inc. (AMC) grew over 20.38% at $75.3 in pre-market trading today. The company recently revealed that it is launching AMC Investor Connect.

BlackBerry Limited (BB), a Software - Infrastructure company, rose about 23.48% at $18.83 in pre-market trading Thursday. The firm will participate in the upcoming Investor Conference.

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Top Upgrades & Downgrades

Liberum turned bullish on Nokia Corporation (NOK), upgrading the stock to Buy from Hold.

Take-Two Interactive Software Inc. (TTWO) has won the favor of Jefferies' equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $231, suggesting 30.57% additional upside for the stock.

Semtech Corporation (SMTC) received an upgrade from analysts at Roth Capital, who also set their one-year price target on the stock to $83. They changed their rating on SMTC to Buy from Neutral in a recently issued research note.

Earlier Thursday Baird reduced its rating on Progenity Inc. (PROG) stock to Neutral from Outperform and assigned the price target to $2.00.

Citi analysts reduced their investment ratings, saying in research reports covered by the media that its rating for The Allstate Corporation (ALL) has been changed to Neutral from Buy and the new price target is set at $142.

Analysts at Bryan Garnier downgraded MorphoSys AG (MOR)'s stock to Neutral from Buy Monday.

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Latest Insider Activity

Snap Inc. (SNAP) General Counsel O'Sullivan Michael J. announced the sale of shares taking place on May 28 at $62.06 for some 6,000 shares. The total came to more than $0.37 million.

NVIDIA Corporation (NVDA) Director Dabiri John sold on Jun 01 a total 965 shares at $651.15 on average. The insider’s sale generated proceeds of almost $67069.0.

Lannett Company Inc. (LCI) Director FARBER JEFFREY declared the purchase of shares taking place on May 28 at $4.37 for some 10,000 shares. The transaction amount was around $43700.0.

Precipio Inc. (PRPO) Chief Executive Officer DANIELI ILAN bought on Jun 01 a total 22,217 shares at $3.37 on average. The purchase cost the insider an estimated $2,545.

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Important Earnings

Top US earnings releases scheduled for today include ChargePoint Holdings Inc. (NYSE:CHPT). It will announce its Apr 2021 financial results. The company is expected to report earnings of -$0.1 per share from revenues of $35.85M in the three-month period.

Analysts expect NGL Energy Partners LP (NYSE:NGL) to report a net income (adjusted) of -$0.06 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2021 is predicted to come in at $1.87B.

Slack Technologies Inc. (WORK), due to announce earnings after the market closes today, is expected to report earnings of -$0.01 per share from revenues of $267.14M 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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