8 apr - NH - Morning Newsletter

Good Morning

American stock exchanges closed in different directions. The S&P 500 rose 0.15% to 4080 points, the Dow Jones climbed a marginal 0.05% and the NASDAQ fell 0.07%. Most of the sectors showed modest performance, with the exception of the raw materials industry, which sank 1.75%, mainly due to the fall of chemical companies. Growth stocks continue to outpace value companies, with Treasury rates remaining close to 1.6%. Investors' attention is focused on the prospects for opening up economies, details of the infrastructure plan and tax reform. Company news

• Storage technology provider SMART Global Holdings (SGH: + 12%) posted better-than-expected quarterly results and strong guidance.

• Vehicle electrification solutions provider XL Fleet (XL: + 3%) said it had received an order for 19 electric pickups from Apex Clean Energy.

• Lamb Weston Holdings (LW: -3.6%) posted quarterly results below expectations, but noted a positive business impact from the relaxation of quarantine restrictions.

The publication of the minutes of the FOMC meeting, which took place on March 16-17, did not bring any surprises: the economic recovery will depend on the pace of vaccinations. It has been noted that too fast paces can lead to excessive risk appetite in the stock market.The private participants of the meeting expect that the mid-term growth of inflation will be temporary, in connection with which the regulator intends to continue adhering to the previously chosen soft course of the monetary policy.

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Today Top Movers

Aurora Mobile Limited (JG) stock soared 2.94% to $4.2 in the pre-market trading. The company today revealed the partnership with Beijing Koudai Fashion Technology Co., Ltd to Promote AI-powered Smart Marketing.

Immutep Limited (NASDAQ: IMMP) shares are trading up 22.96% at $3.91 at the time of writing after announcing European Patent Grant For LAG525 Antibody In Combination Therapy.

American Virtual Cloud Technologies Inc. (AVCT) grew over 32.36% at $7.69 in pre-market trading today following the receipt of unsolicited non-binding acquisition proposal and exploration of strategic alternatives.

Ocugen Inc. (OCGN), a Biotechnology company, rose about 5.08% at $7.24 in pre-market trading Thursday.

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Top Upgrades & Downgrades

JP Morgan turned bullish on U.S. Bancorp (USB), upgrading the stock to "Overweight" and assigning a $60.0 price target, representing potential upside of 5.65% from Wednesday's close.

SeaSpine Holdings Corporation (SPNE) 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 $24.0, suggesting 17.94% additional upside for the stock.

BrightSphere Investment Group Inc. (BSIG) received an upgrade from analysts at Morgan Stanley, who also set their one-year price target on the stock to $30.0. They changed their rating on BSIG to Overweight from Equal-Weight in a recently issued research note.

Earlier Thursday Wells Fargo reduced its rating on Sonoco Products Company (SON) stock to Equal-Weight from Overweight and assigned the price target to $69.0.

Goldman Sachs analysts reduced their investment ratings, saying in research reports covered by the media that its rating for L3Harris Technologies Inc. (LHX) has been changed to Neutral from Buy and the new price target is set at $208.0.

Analysts at Morgan Stanley downgraded NXP Semiconductors N.V. (NXPI)'s stock to Equal-Weight from Overweight Thursday.

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Latest Insider Activity

Twitter Inc. (TWTR) Engineering Lead Montano Michael announced the sale of shares taking place on Apr 05 at $64.14 for some 2,250 shares. The total came to more than $0.14 million.

FuelCell Energy Inc. (FCEL) EVP, Gen. Counsel, CAO, Secy Arasimowicz Jennifer D sold on Apr 06 a total 14,244 shares at $13.46 on average. The insider’s sale generated proceeds of almost $0.11 million.

9 Meters Biopharma Inc. (NMTR) Director Sirgo Mark A declared the purchase of shares taking place on Apr 05 at $1.00 for some 300,000 shares. The transaction amount was around $0.3 million.

Compass Inc. (COMP) Chairman and CEO Reffkin Robert L. bought on Apr 06 a total 8,601,981 shares at $18.00 on average. The purchase cost the insider an estimated $7.4 million.

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Important Earnings

Top US earnings releases scheduled for today include Conagra Brands Inc. (NYSE:CAG). It will announce its Feb 2021 financial results. The company is expected to report earnings of $0.58 per share from revenues of $2.72B in the three-month period.

Analysts expect Constellation Brands Inc. (NYSE:STZ) to report a net income (adjusted) of $1.55 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Feb 2021 is predicted to come in at $1.87B.

Levi Strauss & Co. (LEVI), due to announce earnings after the market closes today, is expected to report earnings of $0.25 per share from revenues of $1.25B 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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