9 June - morning newsletter

Good Morning!

Key US stock index futures are showing slightly mixed performance on Wednesday in anticipation of inflation statistics later this week, trading data showed.Futures on the Dow Jones Industrial Average (DJIA) decreased by 0.03%, to 34575 points, on the NASDAQ high-tech index - grew by 0.17%, to 13835.88 points, futures on the S&P broad market index 500 - rose by 0.07% to 4228.62 points.World investors are awaiting US inflation statistics, which will be published on Thursday. Annual inflation in the country is expected to accelerate to 4.7% in May from 4.2% in April. Traders fear that accelerating inflation could push the US Federal Reserve to tighten monetary policy ahead of schedule.According to analysts, whose opinion is quoted by the Wall Street Journal, the beginning of the summer season leads to a decrease in trading volumes. 

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Today Top Movers

Aethlon Medical Inc. (AEMD) stock soared 419.46% to $11.48 in the pre-market trading following the publication of a pre-print manuscript highlighting two case studies of critically ill COVID-19 patients treated with the Aethlon Hemopurifier.

SPI Energy Co. Ltd. (NASDAQ: SPI) shares are trading up 48.31% at $9.24 at the time of writing. Phoenix Motorcars, a group company of SPI Energy, started series production of its first third-generation drivetrain products.

Lyra Therapeutics Inc. (LYRA) grew over 22.62% at $9.65 in pre-market trading today after announcing the positive outcome of the End-of-Phase 2 meeting with the FDA for LYR-210 for the treatment of Chronic Rhinosinusitis.

Solid Biosciences Inc. (SLDB), a Drug Manufacturers - Specialty & Generic company, rose about 41.63% at $5.75 in pre-market trading Wednesday. The company recently announced the grant of an inducement award to its newly appointed Chief Regulatory Officer, Dr. Iman Barilero.

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Top Upgrades & Downgrades

Goldman Sachs turned bullish on The Chemours Company (CC), upgrading the stock to "Buy" and assigning a $47.00 price target, representing potential upside of 28% from Tuesday's close.

Fox Corporation (FOXA) 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 $47.00, suggesting 28.45% additional upside for the stock.

Abercrombie & Fitch Co. (ANF) received an upgrade from analysts at Jefferies, who also set their one-year price target on the stock to $57.00. They changed their rating on ANF to Buy from Hold in a recently issued research note.

Earlier Wednesday Scotiabank reduced its rating on Enerplus Corporation (ERF) stock to Sector Perform from Outperform.

JPMorgan analysts reduced their investment ratings, saying in research reports covered by the media that its rating for DISH Network Corporation (DISH) has been changed to Underweight from Neutral and the new price target is set at $45.00.

Analysts at Goldman Sachs downgraded Celanese Corporation (CE)'s stock to Neutral from Buy Wednesday.

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Latest Insider Activity

C3.ai Inc. (AI) Director Rice Condoleezza announced the sale of shares taking place on Jun 08 at $61.43 for some 55,119 shares. The total came to more than $3.39 million.

Applied Materials Inc. (AMAT) President and CEO DICKERSON GARY E sold on Jun 08 a total 2,246,354 shares at $140.21 on average. The insider’s sale generated proceeds of almost $5.71 million.

American Eagle Outfitters Inc. (AEO) Director DAVIS STEVEN A declared the purchase of shares taking place on Jun 04 at $32.45 for some 4,000 shares. The transaction amount was around $0.13 million.

Baudax Bio Inc. (BXRX) Director CHURCHILL WINSTON J bought on Jun 07 a total 157,185 shares at $0.78 on average. The purchase cost the insider an estimated $19,509.

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Important Earnings

Top US earnings releases scheduled for today include GameStop Corp. (NYSE:GME). It will announce its Apr 2021 financial results. The company is expected to report earnings of -$0.83 per share from revenues of $1.16B in the three-month period.

Analysts expect Verint Systems Inc. (NASDAQ:VRNT) to report a net income (adjusted) of $0.35 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Apr 2021 is predicted to come in at $196.52M.

RH (RH), due to announce earnings after the market closes today, is expected to report earnings of $4.1 per share from revenues of $757.65M recently concluded three-month period.

That's it for today. Thanks for reading. Good luck out there!Best Regards,Stocks Telegraph Team

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