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8 Jul - morning newsletter

8 Jul - morning newsletter

4 Hot Stocks To Watch Today

July 08, 2021

Good Morning!

Yesterday was an important day for the financial markets. The Fed published the outcome of the FOMC meeting. This shows that some Fed officials are not so sure about emerging inflation after all. In recent months we have often heard the word 'transitory' at the Fed, which seems to mean that inflation is transient in the (short) term. Now, more and more Fed officials seem to want to lower QE more quickly due to market conditions. The Fed is concerned about the labor shortage and supply chain disruption in some sectors. There is not yet a real consensus on how quantitative easing should be weakened. However, there are signs that this is being considered. The Fed's communication may be a strategy to cool the market a bit and curb expected inflation. Next week, Fed Chair Jerome Powell will give a speech to Congress. Perhaps a sneak peek of the veil will be given during this lecture.

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Today Top Movers

Aerpio Pharmaceuticals Inc. (ARPO) stock soared 71.93% to $2.94 in the pre-market trading because of the most recent rating by HC Wainwright & Co., today, is a Buy.

TESSCO Technologies Incorporated (NASDAQ: TESS) shares are trading up 34.55% at $7.75 at the time of writing after releasing preliminary Q1 2022 select financial results and shares expectations for full-year 2022.

Alterity Therapeutics Limited (ATHE) grew over 9.49% at $1.73 in pre-market trading today.

GAN Limited (GAN), a Gambling company, rose about 13.53% at $17.2 in pre-market trading Thursday after announcing strong preliminary second quarter 2021 results.

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Top Upgrades & Downgrades

Piper Sandler turned bullish on Washington Trust Bancorp Inc. (WASH), upgrading the stock to "Overweight" and assigning a $58.00 price target, representing potential upside of 15.56% from Wednesday's close.

Flowserve Corporation (FLS) has won the favor of Credit Suisse's equity research team. The firm upgraded the shares from Neutral to Outperform and moved their price target to $48.00, suggesting 17.88% additional upside for the stock.

Southern Copper Corporation (SCCO) received an upgrade from analysts at Barclays, who also set their one-year price target on the stock to $55.00. They changed their rating on SCCO to Equal-Weight from Underweight in a recently issued research note.

Earlier Thursday Piper Sandler reduced its rating on Ready Capital Corporation (RC) stock to Neutral from Overweight and assigned the price target to $15.50.

Barclays analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Freeport-McMoRan Inc. (FCX) has been changed to Underweight from Equal-Weight and the new price target is set at $29.00.

Analysts at RBC Capital downgraded D.R. Horton Inc. (DHI)'s stock to Sector Perform from Outperform Thursday.

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Latest Insider Activity

salesforce.com inc. (CRM) Co-Founder and CTO Harris Parker announced the sale of shares taking place on Jul 06 at $250.30 for some 1,000 shares. The total came to more than $0.25 million.

Facebook Inc. (FB) COB and CEO Zuckerberg Mark sold on Jul 07 a total 0 shares at $352.45 on average. The insider’s sale generated proceeds of almost $27.24 million.

CleanSpark Inc. (CLSK) CEO and President Bradford Zachary declared the purchase of shares taking place on Jul 02 at $0.20 for some 83,333 shares. The transaction amount was around $16667.0.

R. R. Donnelley & Sons Company (RRD) 10% Owner Chatham Asset Management, LLC bought on Jun 30 a total 10,635,100 shares at $6.30 on average. The purchase cost the insider an estimated $630,360.

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