5 may - morning newsletter

4 Stocks Taking Off This Morning

May 05, 2021

Good Morning!

Yesterday, Janet Yellen, the new US Treasury Secretary, hinted that interest rates may need to go back up to prevent the economy from overheating. It seemed as if J. Yellen had forgotten for a moment that she is no longer chair of the Fed . In principle, it has no say at all in such decisions. The Fed would be completely independent in achieving its monetary targets. During the previous public appearance of chairman Jerome Powell, he announced that low interest rates will be used at least until 2024. But that didn't stop the market from taking a dip. The S&P 500 fell 0.67% to 4,164 points. The Nasdaq 100 technology index fell 1.85% to 13,544 points. Moderna was the biggest loser, down 6.27%. The Dow Jones price remained remarkably strong compared to the younger two brothers. The Dow was up 0.06% to 34,133 points. Strongest share from the oldest US index was Dow Inc, with an increase of 2.80%. The US dollar index (DX) rose 0.35% yesterday. Later in the day, Janet Yellen decided to do an interview to clarify her statements. The Treasury Secretary made it clear that she accepts the Fed's independence and integrity 100%.

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Today Top Movers

Athenex Inc. (ATNX) stock soared 43.67% to $5.33 in the pre-market trading. The most recent rating by Truist, on March 02, 2021, is a Hold. Athenex to Acquire Kuur Therapeutics to Expand Cell Therapy Development with Off-the-Shelf Engineered CAR-NKT Platform.iBio Inc. (AMEX: IBIO) shares are trading up 33.33% at $1.72 at the time of writing. Company’s 52-week ranged between $0.96 to $7.45. Analysts have a consensus price target of $3. iBio and Fraunhofer USA Conclude Litigation and Enter License Agreement.Big 5 Sporting Goods Corporation (BGFV) grew over 21.55% at $23.18 in pre-market trading today. Big 5 Sporting Goods Corporation Announces Fiscal 2021 First Quarter Results.Aurora Mobile Limited (JG), a Software - Application company, rose about 9.12% at $3.59 in pre-market trading Wednesday.

Don't Buy Another Cannabis Stock Until You Read THISWith full legalization right around the corner, cannabis could easily turn into a $30 billion industry right here in the US. But don't be fooled...Most cannabis companies don't have what it takes to cash in on this growth. However, one under-the-radar stock is doing everything right to make sure they capture a significant slice of the legal cannabis pie.

Top Upgrades & Downgrades

Jefferies turned bullish on Community Health Systems Inc. (CYH), upgrading the stock to "Buy" and assigning a $18.0 price target, representing potential upside of 44.12% from Tuesday's close.

XPO Logistics Inc. (XPO) has won the favor of Keybanc's equity research team. The firm upgraded the shares from HOLD to BUY and moved their price target to $160.0, suggesting 13.14% additional upside for the stock.

Nova Measuring Instruments Ltd. (NVMI) received an upgrade from analysts at Stifel, who also set their one-year price target on the stock to $103.0. They changed their rating on NVMI to Buy from Hold in a recently issued research note.

Earlier Tuesday Stifel reduced its rating on Esperion Therapeutics Inc. (ESPR) stock to Hold from Buy and assigned the price target to $20.0. With shares trading at around $25.59, the Wall Street firm thinks Esperion Therapeutics Inc.'s stock could decline more than -21.84%.

Societe Generale analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Ferrari N.V. (RACE) has been changed to HOLD from BUY and the new price target is set at $231.0.

Analysts at Exane BNP Paribas downgraded WPP plc (WPP)'s stock to Underperform from Neutral on Wednesday.

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Latest Insider Activity

The Gap Inc. (GPS) President & CEO, Gap Brand Breitbard Mark announced the sale of shares taking place on May 04 at $35.03 for some 18,908 shares. The total came to more than $0.66 million.

Clovis Oncology Inc. (CLVS) See Remarks IVERS-READ GILLIAN C sold on May 04 a total 247,059 shares at $5.54 on average. The insider’s sale generated proceeds of almost $21894.0.

Amphenol Corporation (APH) Director Livingston Robert declared the purchase of shares taking place on May 04 at $65.92 for some 20,000 shares. The transaction amount was around $1.32 million.

The Interpublic Group of Companies Inc. (IPG) Director SANFORD LINDA S bought on Feb 25 a total 18,323 shares at $26.00 on average. The purchase cost the insider an estimated $75,010.

Quiet Bull Market Erupting in One Tiny SectorWith most investors focused on big tech, a frenzy is quietly erupting in one tiny sector, with gains like 500% in two months and 104% in a single day.Click here to access the details, including the stock name and ticker symbol.

Important Earnings

Top US earnings releases scheduled for today include Marathon Oil Corporation (NYSE:MRO). It will announce its Mar 2021 financial results. The company is expected to report earnings of $0.1 per share from revenues of $1.06B in the three-month period.

Analysts expect Zynga Inc. (NASDAQ:ZNGA) to report a net income (adjusted) of $0.09 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Mar 2021 is predicted to come in at $685.98M.

Uber Technologies Inc. (UBER), due to announce earnings after the market closes today, is expected to report earnings of -$0.54 per share from revenues of $3.28B 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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