31 mar - morning newsletter

Good Morning

US stocks dropped on Tuesday. Investors were selling government bonds and high-value technology stocks, which had previously enjoyed strong gains amid low bond yields.

Shares of Microsoft, Apple, Amazon.com and Facebook declined, putting pressure on the stock market as a whole. The yield on 10-year US Treasuries has risen and is holding near its highest levels since January 2020. Improving economic outlook and fears about rising inflation are dampening demand for US government bonds, which are considered one of the safest assets in the world.

The S&P 500 fell 12.54 points, or 0.3%, to 3958.55 points. This is 0.4% below the all-time high reached last week. The Dow Jones Industrial Average fell 104.41 points, or 0.3%, to 33,066.96 points. The Nasdaq Composite fell 14.25 points, or 0.1%, to 13,045.39 points.

The yield on the 10-year US Treasury bond rose to 1.724% from 1.721% on Monday.

At the beginning of the year, the yield on US government bonds was only 0.915%. Its sharp rise has weakened demand for technology stocks, as their high valuations are largely dictated by hopes for growth in the distant future. Shares of Apple and Amazon, which surged last year, are losing ground this year.

Expert: "There is Still Time to Profit from the Cannabis Boom" Medical cannabis stocks have delivered solid gains over the last 3 years. In fact, since 2017, 21 medical cannabis stocks have soared by more than 1,000%.Yet, with medical cannabis sales expected to triple by 2026, the market still offers significant profit potential.

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Today Top Movers

Arcadia Biosciences Inc. (RKDA) stock soared 40.34% to $3.27 in the pre-market trading after announcing fourth-quarter and full-year 2020 financial results.

ClearOne Inc. (NASDAQ: CLRO) shares are trading up 34.42% at $4.14 at the time of writing. The company recently released fourth quarter 2020 financial results.

AzurRx BioPharma Inc. (AZRX) grew over 23.08% at $1.6 in pre-market trading today.

ProPhase Labs Inc. (PRPH), a Drug Manufacturers - Specialty & Generic company, rose about 14.51% at $7.18 in pre-market trading Wednesday following an announcement from the company that that it has acquired the “VaccTrack” suite of digital solutions.

World's Richest Men Just Went "All In" On This Biden PolicyPresident Biden is set to sign a policy into law no later than April 30th... And three of the world's richest men are going "all-in" to prepare for this event by plowing $26 Billion into a tiny corner of the market. What do they know that you don't?Details here.

Top Upgrades & Downgrades

BofA turned bullish on Telefonica S.A. (TEF), upgrading the stock to "Buy"from Neutral.

Veeva Systems Inc. (VEEV) has won the favor of UBS' equity research team. The firm upgraded the shares from Sell to Neutral and moved their price target to $250.

Square Inc. (SQ) received an upgrade from analysts at Keefe Bruyette. They changed their rating on SQ to Outperform from Market Perform in a recently issued research note.

Earlier Wednesday Stephens reduced its rating on Landstar System Inc. (LSTR) stock to Equal Weight from Overweight.

Stephens analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Schneider National Inc. (SNDR) has been changed to Equal Weight from Overweight.

Analysts at RBC Capital downgraded Johnson Controls International plc (JCI)'s stock to Sector Perform from Outperform Wednesday.

Buy These 3 Cryptos to Beat BitcoinThe cryptocurrency market is exploding in value right now..Bitcoin broke through $30,000... And dozens of cryptos have gone up more than 1,000%...If you're ready to start capitalizing on this massive boom, legendary crypto investor Matt McCall just released a new free report, "3 Cryptos to Beat Bitcoin."

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Latest Insider Activity

AMC Entertainment Holdings Inc. (AMC) EXP & CHIEF CONTENT OFFICER FRANK ELIZABETH F announced the sale of shares taking place on Mar 26 at $10.11 for some 60,000 shares. The total came to more than $0.61 million.

Cisco Systems Inc. (CSCO) Director BURNS M MICHELE sold on Mar 26 a total 70,468 shares at $51.55 on average. The insider’s sale generated proceeds of almost $0.72 million.

DigitalOcean Holdings Inc. (DOCN) Affiliate of 10% Owner Access Industries Holdings LLC declared the purchase of shares taking place on Mar 25 at $47.00 for some 2,127,659 shares. The transaction amount was around $100.0 million.

Designer Brands Inc. (DBI) Executive Chairman SCHOTTENSTEIN JAY L bought on Mar 25 a total 629,524 shares at $13.73 on average. The purchase cost the insider an estimated $2.63 million.

New "Forever Battery" To Usher In New Age Of EnergyThe breakthrough battery technology being dubbed as "The Tesla Killer". Find out why you need to act now to take advantage of this incredible opportunity.Tech investing legend Matt McCall reveals the tiny company at the epicenter of a secretly emerging $3 trillion industry in this FREE video.

Important Earnings

Top US earnings releases scheduled for today include Walgreens Boots Alliance Inc. (NASDAQ:WBA). It will announce its Feb 2021 financial results. The company is expected to report earnings of $1.11 per share from revenues of $35.53B in the three-month period.

Analysts expect Ayro Inc. (NASDAQ:AYRO) to report a net income (adjusted) of -$0.1 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $660M.

Micron Technology Inc. (MU), due to announce earnings after the market closes today, is expected to report earnings of $0.95 per share from revenues of $6.21B 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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