3 Sep - Morning Newsletter

Good Morning!

All stock indices in the US ended in the green. The S&P 500 rose 0.28% with Quanta Services as the outlier. The stock rose 12.06%. The Nasdaq Composite climbed 0.14%. The best-performing stock in the technology index was Match Group, it rose by 6.12%. In the oldest stock index in the US, the Dow Jones Industrial Average, Walgreens Boots Alliance topped it with a daily return of plus 2.96%. The Dow itself closed 0.37% higher.Rumors appear on Wall Street that Apple is in talks with Toyota, SK Group and LG Electronics to launch the Apple car by 2024 . Earlier it was announced that Apple was developing a battery that would significantly increase the radius of an electric car. Please note: no confirmation or official statement has yet been released from Apple. So it is not yet certain that we will see the Apple car driving through our streets within a few years.

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Today Top Movers

Cellect Biotechnology Ltd. (APOP) stock soared 54.91% to $8.52 in the pre-market trading after announcing the ApoGraft bone marrow transplantation of the first patient in U.S..

MongoDB Inc. (NASDAQ: MDB) shares are trading up 13.41% at $455.5 at the time of writing. The company declared second quarter fiscal 2022 total revenue of $199 million, up 44% Year-over-Year.

PagerDuty Inc. (PD) grew over 14.88% at $50.89 in pre-market trading today after reporting that its Q2 revenue increased 33% year-over-year to $68 million.

Draganfly Inc. (DPRO), a Aerospace & Defense company, rose about 4.88% at $3.2199 in pre-market trading Friday. The company is expanding its partnership with Alabama State University, upgrading its Vital Intelligence Smart Vital Assessment Stations, and delivering its patented drone technology Varigard sanitizing spray for ASU’s annual Labor Day Classic football game.

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Top Upgrades & Downgrades

SVB Leerink turned bullish on Innate Pharma S.A. (IPHA), upgrading the stock to Outperform from Market Perform.

Aurora Cannabis Inc. (ACB) has won the favor of Jefferies' equity research team. The firm upgraded the shares from Underperform to Hold and moved their price target to $6.78.

ASML Holding N.V. (ASML) received an upgrade from analysts at AlphaValue/Baader. They changed their rating on ASML to Reduce from Sell in a recently issued research note.

Earlier Friday UBS reduced its rating on Vipshop Holdings Limited (VIPS) stock to Neutral from Buy and assigned the price target to $17.00.

Baird analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Hill-Rom Holdings Inc. (HRC) has been changed to Neutral from Outperform and the new price target is set at $156.00.

Analysts at Summit Insights downgraded Broadcom Inc. (AVGO)'s stock to Hold from Buy Friday.

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Latest Insider Activity

Apollo Global Management Inc. (APO) Director HARRIS JOSHUA announced the sale of shares taking place on Sep 02 at $61.17 for some 60,871 shares. The total came to more than $3.72 million.

Alphabet Inc. (GOOG) Director MATHER ANN sold on Sep 02 a total 469 shares at $2918.99 on average. The insider’s sale generated proceeds of almost $49623.0.

GoodRx Holdings Inc. (GDRX) 10% Owner Abdiel Capital Management, LLC declared the purchase of shares taking place on Sep 02 at $38.00 for some 100 shares. The transaction amount was around $3800.0.

PG&E Corporation (PCG) Director FLEXON ROBERT C bought on Sep 01 a total 51,299 shares at $9.28 on average. The purchase cost the insider an estimated $92,800.

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Important Earnings

Top US earnings releases scheduled for Tuesday include UiPath Inc. (NYSE:PATH). It will announce its Jul 2021 financial results. The company is expected to report earnings of -$0.05 per share from revenues of $184.34M in the three-month period.

Analysts expect Smartsheet Inc. (NYSE:SMAR) to report a net income (adjusted) of -$0.13 per share, when the company releases its quarterly results Tuesday. Revenue for the fiscal quarter ended Jul 2021 is predicted to come in at $125.51M.

Coupa Software Incorporated (COUP), due to announce earnings after the market closes Tuesday, is expected to report earnings of -$0.06 per share from revenues of $162.96M 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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