7 June - NH - Morning Newsletter

Don't Miss On These Upgraded Stocks

June 08, 2021

Good Morning!

On June 7, US stock markets closed mixed. The S&P 500 index fell 0.08% to 4227 points, the Nasdaq rose 0.49%, and the Dow Jones slipped 0.36%. In the sectoral breakdown, representatives of real estate (+ 0.92%) and telecoms (+ 0.47%) felt the best. Among the outsiders were the sector of raw materials and materials (-1.23%) and industrial companies (-0.69%), which was largely due to the publication of weak data on Chinese exports and imports. Tax reform and Biden's infrastructure project remain in the focus of investors' attention.Biogen (BIIB: + 38.3%) has received approval from the FDA to launch a drug for the treatment of Alzheimer's disease. A positive decision on this issue was first made since 2003.US Concrete (USCR: + 29.3%) will be acquired by Vulcan Materials (VMC). The deal is valued at $ 1.29 billion and should be completed in the second half of 2021.Macquarie Infrastructure (MIC: + 10.9%) announced an agreement to sell its Atlantic Aviation business for $ 4.6 billion to KKR & Co Inc. (KKR). The deal will be closed in the fourth quarter of 2021.Joe Biden's talks with Republican Senator Shelley Moore Capito over an infrastructure package are due to resume this week. The president is likely to push for a broader agenda that includes investments not only in physical infrastructure, but also in the renewable energy sector and other projects. Republicans, in turn, have prepared a new proposal, which will be announced today.

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Today Top Movers

1847 Goedeker Inc. (GOED) stock soared 3.5% to $3.25 in the pre-market trading. The company will host a conference call and audio webcast on Wednesday, June 9, 2021 at 4:30 p.m. ET to discuss and answer questions related to its acquisition of Appliances Connection, which closed on June 2, 2021.

MoSys Inc. (NASDAQ: MOSY) shares are trading up 10.56% at $7.75 at the time of writing. Company’s 52-week ranged between $1.32 to $10.75 after declaring $13 million registered direct offering priced at-the-market under Nasdaq Rules.

Dada Nexus Limited (DADA) grew over 10.22% at $28.37 in pre-market trading today. The firm revealed up to US$150 million share repurchase program.

Cyren Ltd. (CYRN), a Software - Infrastructure company, rose about 19.12% at $0.81 in pre-market trading Tuesday.

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Top Upgrades & Downgrades

Summit Insights turned bullish on Marvell Technology Inc. (MRVL), upgrading the stock to "Buy" from Hold.

Target Corporation (TGT) has won the favor of UBS' equity research team. The firm upgraded the shares from Neutral to Buy.

Johnson Controls International plc (JCI) received an upgrade from analysts at JPMorgan, who also set their one-year price target on the stock to $75.00. They changed their rating on JCI to Overweight from Neutral in a recently issued research note.

Earlier Tuesday Goldman Sachs reduced its rating on CACI International Inc (CACI) stock to Buy from Conviction Buy.

Wells Fargo analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Enerpac Tool Group Corp. (EPAC) has been changed to Underweight from Equal Weight and the new price target is set at $22.00.

Analysts at Bernstein downgraded United Microelectronics Corporation (UMC)'s stock to Underperform from Market Perform Tuesday.

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Latest Insider Activity

Biogen Inc. (BIIB) Director Posner Brian S announced the sale of shares taking place on Jun 04 at $274.17 for some 360 shares. The total came to more than $98701.0.

Jaguar Health Inc. (JAGX) Director BOCHNOWSKI JAMES J sold on Jun 04 a total 954,390 shares at $1.74 on average. The insider’s sale generated proceeds of almost $264.0.

Amarin Corporation plc (AMRN) Director STACK DAVID M declared the purchase of shares taking place on Jun 04 at $4.54 for some 10,000 shares. The transaction amount was around $45350.0.

Aflac Incorporated (AFL) Director Kiser Georgette D. bought on Jun 03 a total 10,016 shares at $57.34 on average. The purchase cost the insider an estimated $2,867.

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Important Earnings

Top US earnings releases scheduled for today include BEST Inc. (NYSE:BEST). It will announce its Mar 2021 financial results. The company is expected to report earnings of -$0.14 per share from revenues of $1.01B in the three-month period.

Analysts expect ABM Industries Incorporated (NYSE:ABM) to report a net income (adjusted) of $0.71 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Apr 2021 is predicted to come in at $1.48B.

Casey's General Stores Inc. (CASY), due to announce earnings after the market closes today, is expected to report earnings of $0.88 per share from revenues of $2.22B 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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