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- 6 Dec - NH - Morning Newsletter (with changes)
6 Dec - NH - Morning Newsletter (with changes)
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Good Morning!
Trading on December 3 at the main US stock markets ended in the red. The S&P 500 fell 0.84% to 4538 points, the Nasdaq fell 1.92%, and the Dow Jones lost 0.17%. Non-cyclical consumer goods issuers (+1.4%) showed positive moves thanks to discounters and grocery retailers, as well as utility companies (+1.01%). The decliners were the sector of cyclical consumer goods (-1.84%), IT (-1.65%) due to weakening investor risk appetite, as well as financial companies (-1.54%) due to lower Treasury yields.Company news
Marvell Technology saw a gain of 17.7% after its third quarter report and forecast for the next period exceeded market expectations. Data center is a key growth factor.
DocuSign plunged after it reported worse than expected sales. The quarterly forecast also disappointed market participants. There has been a change in customer behavior and a decrease in demand.
Didi Global also lost 22% following plans to delist its ADRs from the NYSE as well as a Hong Kong listing.
Today, global stock markets are showing mixed signs. Markets continue to follow the news of the omicron strain. The day before, the chief infectious disease specialist of the United States, Anthony Fauci, said that the data collected on the new version of the coronavirus are encouraging. A small study in South Africa found that although the omicron strain is more infectious than previous mutations, it appears to be milder in patients. Nevertheless, scientists emphasize that primary data are not enough for large-scale conclusions, since it is not yet known how the "omicron" will spread in various regions, including the United States, where the "delta" variant still causes a high level of infections. The susceptibility of the omicron strain to commercially available vaccines also remains a factor of uncertainty. Vaccine developers are adapting their drugs to the new variant of the coronavirus, and the Biden administration is gearing up to expedite approvals for their use.
Quickest Path to Riches in the 2021 Gold Bull Market Revealed
Gold is booming and smart investors are already cashing in on the #1 Gold Investment of 2021. Yet, you haven't missed the boat. As the Biden administration blows up the federal deficit with $6 Trillion in spending, gold will be the biggest beneficiary as inflation soars.
Today Top Movers
Exela Technologies Inc. (NASDAQ: XELA) shares are trading up 5.5% at $1.15 at the time of writing. The company recently announced successful results and expiration of exchange offer and consent solicitation.
GCP Applied Technologies Inc. (GCP) grew over 13.06% at $30.55 in pre-market trading today after signing a definitive agreement to be acquired by Saint-Gobain.
Sorrento Therapeutics Inc. (SRNE), a Biotechnology company, rose about 6.17% at $5.25 in pre-market trading Monday after announcing publication of a series of Novel SARS-CoV-2 Main Protease (MPRO) Inhibitors for potential treatment of COVID-19 patients infected with SARS-CoV-2 variants of concern, Including Omicron.
CF Acquisition Corp. VI (CFVI) stock soared 20.67% to $14.36 in the pre-market trading. The company recently announced a definitive business combination agreement with Rumble Inc., the neutral video platform.
5 Top Small Cap Value Stocks to Consider Right Now
Some of the greatest opportunities can be found in small cap value stocks.
Remember, even Amazon was once a $7 stock.
Tesla once had a market cap of just over a billion. While small caps do carry risk like every other stock, find the right one, and the rewards can be off the charts.
Top Upgrades & Downgrades
Piper Sandler turned bullish on Steven Madden Ltd. (SHOO), upgrading the stock to "Overweight" and assigning a $56.00 price target, representing potential upside of 21.66% from Friday's close.
ShockWave Medical Inc. (SWAV) has won the favor of Wells Fargo's equity research team. The firm upgraded the shares from Equal-Weight to Overweight and moved their price target to $235.00, suggesting 42.31% additional upside for the stock.
Boston Properties Inc. (BXP) received an upgrade from analysts at Evercore ISI Group. They changed their rating on BXP to Outperform from In-Line in a recently issued research note.
Earlier Monday Evercore ISI Group reduced its rating on Empire State Realty Trust Inc. (ESRT) stock to In-Line from Outperform
Exane BNP analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Novartis AG (NVS) has been changed to Neutral from Neutral.
Analysts at Morgan Stanley downgraded The PNC Financial Services Group Inc. (PNC)'s stock to Underweight from Equal Weight Monday.
$0.25 Uranium Stock Controls Key Canadian Assets as Uranium Soars
Small-cap Uranium stocks are soaring. Most have already doubled as Uranium cranks higher. But that's nothing compared to the gains ahead in the new Uranium bull market. The last time we saw something like this, well-positioned investors made 10X, 100X and up to 1,000X their money. We've uncovered the top $0.25 Uranium stock for 2021-22 riches.
Latest Insider Activity
Palantir Technologies Inc. (PLTR) Director Moore Alexander D. announced the sale of shares taking place on Dec 01 at $20.26 for some 34,000 shares. The total came to more than $0.69 million.
NVIDIA Corporation (NVDA) President and CEO HUANG JEN HSUN sold on Dec 01 a total of 5,194,956 shares at $326.16 on average. The insider’s sale generated proceeds of almost $143.51 million.
Opendoor Technologies Inc. (OPEN) Director Keffer Pueo declared the purchase of shares taking place on Dec 02 at $14.51 for some 137,533 shares. The transaction amount was around $2.0 million.
BIOLASE Inc. (BIOL) President & CEO BEAVER JOHN R bought on Nov 30 a total 621,530 shares at $0.45 on average. The purchase cost the insider an estimated $31,500.
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Important Earnings
Top US earnings releases scheduled for today include Coupa Software Incorporated (NASDAQ:COUP). It will announce its Oct 2021 financial results. The company is expected to report earnings of $0.02 per share from revenues of $178.34M in the three-month period.
Analysts expect Sumo Logic Inc. (NASDAQ:SUMO) to report a net income (adjusted) of -$0.14 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Oct 2021 is predicted to come in at $60.86M.
MongoDB Inc. (MDB), due to announce earnings after the market closes today, is expected to report earnings of -$0.38 per share from revenues of $205.16M 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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