3 may - morning newsletter

Good Morning!

The US stock exchanges are closed lower on Friday. The S&P 500 closed 0.72% lower at 4,181 points and the Nasdaq fell 0.85% to 13,962 points. As a result, the Nasdaq has provisionally bounced off the resistance and an outbreak may still be delayed. The month of April was also closed with nice profits; more than 5% for the S&P and 5.4% for the Nasdaq. Strong data from Apple and Facebook, among others, helped boost indices last week, but there are also concerns. The corona crisis lingers like a dark cloud over the economy and global chip shortages may also weigh on potential growth.

It was also announced on Friday that personal incomes in the US rose by more than 21% in March, mainly thanks to the checks the Americans received for the enormous support package. Inflation is now expected to rise to 3%, raising concerns about interest rate hikes. Chicago's purchasing managers index also showed the strongest growth in nearly 40 years on Friday. Michigan consumer confidence rose faster in April than previously shown by a preliminary figure.

The earnings season will continue this week and investors are also processing a lot of macroeconomic data. Manufacturing PMI data for April will be released today at 3:45 PM, followed by ISM production at 4:00 PM. The highlight of the week is the US jobs report released on Friday. US futures are up 0.40% higher during the morning.

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Today Top Movers

Brooklyn ImmunoTherapeutics Inc. (BTX) stock soared 59.84% to $79.6 in the pre-market trading.Moderna Inc. (NASDAQ: MRNA) shares are trading up 2.49% at $183.27 at the time of writing because of Pfizer vaccine update. Company’s 52-week ranged between $45.82 to $189.26.Vaxart Inc. (VXRT) grew over 13.45% at $12.23 in pre-market trading today soon after Investors have been responding positively to the company’s polls, which had revealed that there is a public preference for an oral COVID vaccine.Ashford Hospitality Trust Inc. (AHT), a REIT - Hotel & Motel company, rose about 13.14% at $3.1 in pre-market trading Monday.

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Top Upgrades & Downgrades

Wedbush turned bullish on Dunkin' Brands Group, Inc. (DNKN), upgrading the stock to "Neutral" and assigning a $106.5 price target.

Welltower Inc. (WELL) has won the favor of RBC Capital's equity research team. The firm upgraded the shares from Sector Perform to Outperform and moved their price target to $82.0, suggesting -12.84% additional downside for the stock.

SuperCom Ltd. (SPCB) received an upgrade from analysts at HC Wainwright & Co., who also set their one-year price target on the stock to $2.0. They changed their rating on SPCB to Buy from Neutral in a recently issued research note.

Earlier Sunday Evercore ISI Group reduced its rating on Essex Property Trust Inc. (ESS) stock to In-Line from Outperform. With shares trading at around $290.52.

Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for VICI Properties Inc. (VICI) has been changed to Equal-Weight from Overweight and the new price target is set at $33.0.

Analysts at Argus Research downgraded CME Group Inc. (CME)'s stock to Hold from Buy on Friday.

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Latest Insider Activity

Comcast Corporation (CMCSA) Chairman of Board, Pres. & CEO ROBERTS BRIAN L announced the sale of shares taking place on Apr 30 at $55.20 for some 709,673 shares. The total came to more than $39.17 million.

Huntington Bancshares Incorporated (HBAN) SEVP Syal Rajeev sold on Apr 29 a total 280,059 shares at $15.50 on average. The insider’s sale generated proceeds of almost $23328.0.

Tellurian Inc. (TELL) Director KESSLER DIANA DERYCZ declared the purchase of shares taking place on Apr 27 at $2.14 for some 100,000 shares. The transaction amount was around $0.21 million.

United States Antimony Corporation (UAMY) Interim CEO Gustavsen John C. bought on Apr 16 a total 36,200 shares at $0.90 on average. The purchase cost the insider an estimated $27,000.

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Important Earnings

Top US earnings releases scheduled for today include The Williams Companies Inc. (NYSE:WMB). It will announce its Mar 2021 financial results. The company is expected to report earnings of $0.29 per share from revenues of $1.97B in the three-month period.

Analysts expect Realty Income Corporation (NYSE:O) to report a net income (adjusted) of $0.3 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2021 is predicted to come in at $424.8M.

The Mosaic Company (MOS), due to announce earnings after the market closes today, is expected to report earnings of $0.52 per share from revenues of $2.25B 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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