6 apr - NH - Morning Newsletter

Good Morning

The stock exchanges in New York closed with solid gains on Easter Monday. The S&P 500 rose 1.44% to 4,077 points, setting a new record. Interest was tame, which allowed tech to profit too. The Nasdaq Composite index closed 1.67% higher at 13,705 points. Alphabet gained 4.30%, Facebook was up 3.70% and Apple and Microsoft were both up nearly 3% as well. Tesla also shot out with a profit of 4.78% after the company was able to provide strong figures on the number of delivered cars. The chip shortages caused delays at Tesla As the stock markets remained closed last Friday, investors were only able to respond to the excellent jobs report yesterday. The figures from the US government showed on Friday that 916,000 jobs were added in March. This figure was well above expectations of 675,000 and the unemployment rate fell to 6%. Positive is the fact that the participation rate also increased again; 347,000 workers returned to the labor market, increasing the percentage to 61.5%. In February 2020, the participation rate was 63.3%. These are all good signs that the labor market in the world's largest economy is recovering from the corona pandemic. According to analysts and the Fed, the rise in interest rates would therefore mean that investor confidence is recovering. In the long run, this should be a strong sign for equities.

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Today Top Movers

Aurora Mobile Limited (JG) stock soared 2.17% to $4.23 in the pre-market trading after revealing a partnership agreement with iHerb, LLC.

The Ensign Group Inc. (NASDAQ: ENSG) shares were traded up 0.51% at $94.23 on Monday. Company’s 52-week ranged between $28.69 to $98.66. The company today declared the acquisition of three skilled nursing facilities in Colorado.

Niu Technologies (NIU) grew over 0.98% at $37.02 in pre-market trading today. The company recently provided its e-scooter sales volume results for the first quarter 2021 and updated on new products launch.

First High School Education Group Co Ltd (FHS) is up 10.80% to $7.80 in premarket trading today following the announcement of its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2020.

Top Crypto Analyst Issues Warning Coinbase - the world's largest digital currency exchange - is about to go public.But this IPO is not the best way to make money in crypto in 2021.Instead folks need to get in on a handful of valuable crypto plays...3 of which I just named in a brand new free report, "3 Cryptos to Beat Bitcoin."

Top Upgrades & Downgrades

Credit Suisse turned bullish on Banco Santander S.A. (SAN), upgrading the stock to "Outperform" from Neutral.

Par Pacific Holdings Inc. (PARR) has won the favor of Goldman Sachs's equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $20.0.

Snap Inc. (SNAP) received an upgrade from analysts at Atlantic Equities, who also set their one-year price target on the stock to $75. They changed their rating on SNAP to Overweight from Neutral in a recently issued research note.

Earlier Tuesday Mizuho reduced its rating on ACADIA Pharmaceuticals Inc. (ACAD) stock to Neutral from Buy and assigned the price target to $25.

Barclays analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Colfax Corporation (CFX) has been changed to Underweight from Equal Weight and the new price target is set at $45.

Analysts at Seaport Global downgraded People's United Financial Inc. (PBCT)'s stock to Neutral from Buy Tuesday.

Man Gets Into a Tesla... What Happens Next Will Shock Everyone (Video) "Hi, I'm Jeff Brown... I'm about to get in this Tesla and drive up to a location just a few miles from here to show you Elon Musk's next big project...What happens next will shock you..."Click here to see what happened.

Latest Insider Activity

Apple Inc. (AAPL) COO WILLIAMS JEFFREY E announced the sale of shares taking place on Apr 05 at $125.74 for some 133,867 shares. The total came to more than $16.83 million.

Palantir Technologies Inc. (PLTR) Director Moore Alexander D. sold on Apr 01 a total 2,247,249 shares at $23.18 on average. The insider’s sale generated proceeds of almost $0.28 million.

Novan Inc. (NOVN) President and CEO STAFFORD PAULA B declared the purchase of shares taking place on Mar 26 at $1.43 for some 70,000 shares. The transaction amount was around $0.1 million.

Overseas Shipholding Group Inc. (OSG) 10% Owner Saltchuk Resources, Inc. bought on Apr 01 a total 14,483,338 shares at $2.10 on average. The purchase cost the insider an estimated $265,649.

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Important Earnings

Top US earnings releases scheduled for today include Paychex Inc. (NASDAQ:PAYX). It will announce its Feb 2021 financial results. The company is expected to report earnings of $0.92 per share from revenues of $1.11B in the three-month period.

Analysts expect The Greenbrier Companies Inc. (NYSE:GBX) to report a net income (adjusted) of -$0.37 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Feb 2021 is predicted to come in at $386.58M.

Maxeon Solar Technologies Ltd. (MAXN), due to announce earnings after the market closes today, is expected to report earnings of -$1.1 per share from revenues of $242.05M 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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