STOCKS TELEGRAPH

Author: Shan Zee

  • Ripple (XRP) crossing major resistance: Is a delayed bull run to begin?

    Ripple (XRP) crossing major resistance: Is a delayed bull run to begin?

    Amidst growing tensions between the SEC and Ripple Labs, Ripple (XRP) is surging. The Ripple cryptocurrency crossed the dreaded $0.50 resistance level and is as of this writing trading at $0.5120. Earlier in November last year, Ripple coin fell from a high of $0.70 to $0.20 as the SEC announced a lawsuit against the firm. Subsequently, the cryptocurrency was delisted from many major exchanges on the allegations that XRP has been trading as a security rather than a cryptocurrency. Ripple (XRP) tried to move back up but with growing tensions it was unsuccessful in doing so. However, as the proceedings of the lawsuit started the strong defense of Ripple labs became clear and bullish momentum picked up once again.

    Major developments

    1.What’s happening on Twitter

    The Twitter community has not been inactive for the past few days. With the court hearing of the Securities and Exchange Commission vs. Ripple Labs, XRP holders believe Ripple Labs has a much stronger case than the SEC.

    Twitter community has started a campaign of asking major exchange likes Coinbase and Binance to relist the cryptocurrency. The hastag started trending on Twitter. In the end, exchanges might have to succumb to the high demand and bring back Ripple cryptocurrency. The Twitter community is extremely bullish on the cryptocurrency and XRP holders believe it is only a matter of time before Ripple XRP explodes.

    2. SEC lawyer gives the green light to exchanges

    During the recent court hearing in the SEC v. Ripple Labs lawsuit, Magistrate Judge Sarah Netburn pointed out that all those involved in the trading of Ripple (XRP) are involved in the illegal sale of securities. To which, the SEC lawyer replied that only Ripple and affiliates are involved in the illegal sale of XRP. This remark has been one of the reasons behind the Twitter campaign of asking exchanges to re-list the cryptocurrency. Given the green light by none other than the SEC’s own lawyer, this major development can lead to exchanges relisting the cryptocurrency.

    3. The future of CBDCs

    The SEC lawsuit has not been hindering the activity of Ripple Labs. The firm published a white paper on the future of central bank digital currencies and proposed Ripple (XRP) as a viable bridge between CBDCs. CBDCs can contribute towards innovation and financial inclusion – a long aim of the Ripple Labs. Using XRP as a bridge will prove to be highly efficient and cost effective.

    Having crossed the Fibonacci pivot point of $0.5034, the next Fibonacci resistance level lies at $0.6620. The market for Ripple (XRP) is under the hold of the bulls, with the technical indicators giving out a signal of buy. As the lawsuit unfolds, major shifts can be observed in the cryptocurrency’s market.

  • Maxar Technologies Inc (MAXR) sells $400M worth of discounted stock Via Secondary Offering For Working Capital

    Maxar Technologies is a space technology company specializing in producing integrated space infrastructure and satellite-related products. Space technology company Maxar Technologies Inc (NYSE: MAXR) priced the priorreported$400 million worth of shares at a discounted price of $40 per share for debt financing for the company.

    The offer has an estimated6.50% discount vs. the last closing price at $42.79 and has granted underwriters certain perks such as givingthem 30 days to buy additional shares worth $60M. However,the company’s top executive officers agreed to customary contractual assurance with the underwriters purchasing the stocks.

    Is Maxar Technologies Inc. (NYSE: MAXR) Worth Buying Right Now?

     MAXR shares plummeted by 3% at $41.50 in the premarket session as of today. However, a 353% gain since last year has adhered to investor interest. MAXR revenue increasedapproximately 3% for the year, yet profits increased three times, bringing diluted share value to $4.99.

    This happened as MAXR planned on decreasing its debt load for “sustainable growth” of the company, with $2.4B being removed from a total of $2.9B.

    Furthermore, with a board consisting of two ex CIA officers, two former officers of the US Air Force,and the CEO being a navy veteran himself, the investors are more than pleased with the top executives having military and political ties.

    MAXR will also be paying a cash dividend of $0.01 per share by March 31, 2021. Investors who bought MAXR before the ex-dividend payment will receive the dividend. Hence this is the 5th quarter MAXR will be paying the same premium depicting a healthy cash flow of the company.

    Conclusion

    MAXR offered a better-than-expected outlook for the current quarter and anticipated sales and profits to grow for the entire year after gaining a substantial financial surplus of $400M as well as successfully eradicating debt of $2.4B. Furthermore, Military and political ties have shown to further peak investor interest for the company.

  • Let’s find out what is making F.S.D. Pharma Inc. (HUGE) stock standout today?

    Let’s find out what is making F.S.D. Pharma Inc. (HUGE) stock standout today?

    Even experienced traders find the stock market to be quite bewildering at times. There are times when, even when the results are as expected, the market just seems to turn in the opposite direction, leading to doubts and speculation. A good strategy might include keeping track of a stock’s price performance in the past, as well as keeping an eye on its trends in the short-term and long-term. Over the past week, F.S.D. Pharma Inc. (Nasdaq: HUGE) stock prices have decreased by 7.25%, but they have increased 19.65% over the last quarter. Throughout the previous six months, the stock’s value fell over -2633% but is currently up over 32.69% for the year.

    What is hot at the moment?

    March 17, 2021, it is disclosed that F.S.D. Pharma Inc. (Nasdaq: HUGE) has agreed to license ultra micronized-palmitoylethanolamide with Innovet Italia S.R.L. to manufacture FDA-approved veterinary drugs for treating gastrointestinal diseases in dogs and cats. Additionally, the Company today released its year-end finance and corporate results.

    The deal with Innovet Italia S.R.I., is an opportunity for the Company to enter a new and untapped market. Our balance sheet’s strength allows us to explore other M&A and license options to expand our drug development pipeline, said led by Dr. Raza Bokhari, executive chairman and C.E.O.

    Key points of the License Agreement

    • This agreement gives the Company the exclusive worldwide rights to develop, manufacture, and market products utilizing specific unique formulations of ultra-micro P.E.A. to treat gastro-intestinal problems in canines and felines.
    • A provision of the License Agreement requires the Company to develop the Licensed Products in order to submit an Investigational Animal Drug Application within 36 months from the date of the agreement and a New Animal Drug Application within 60 months after the effective date of the agreement.
    • Under the License Agreement terms, Innovet will receive payments from the Company upon achievement of certain milestones.
    • There is also a certain royalty payment specified in the License Agreement.
    • Additionally, the Company is obliged to pay 5% of net sales on products licensed from the Company.

    Major Business Updates

    • A special shareholders’ meeting is scheduled for May 14, 2021, at the Company’s annual meeting.
    • At the 2021 A.G.M., April 15 is the record date for voting.
    • Shareholders will receive the Company’s management information circular and proxy materials before April 23, 2021.
    • The 2021 Annual General Meeting replaces the shareholder meeting of June 29, 2021, announced earlier.

    What Analysts make of HUGE stock?

    The HUGE stock price may go up by 79.3%, according to Market Gurus. The shares were to achieve a high price target of $10.00 in the next 12 months. Analysts also predict that traders would keep stock prices between $10.00 and $15.00. Overall, HUGE’s price is up 32.69% this year.

  • Should you invest in Motus G.I. Holdings, Inc. (MOTS) stock?

    Should you invest in Motus G.I. Holdings, Inc. (MOTS) stock?

    Motus G.I. Holdings, Inc. (MOTS) will be releasing their latest earnings report sometime TODAY. Analysts have predicted that Motus G.I. Holdings will report a loss of $0.13 per share on revenue of $70 thousand.

    About Motus G.I. Holdings, Inc.

    Motus G.I. Holdings, Inc. is a U.S. based medical technology company, having its subsidiaries in Israel and the United States. The company has dedicated itself to enhance the cost-efficiency of colonoscopy and the improvement of clinical outcomes. Motus G.I. holding’s star product is the Pure-Vu system. It is a device approved by the U.S. Food and Drug Administration (FDA) that helps facilitate the cleaning of the colon that is poorly prepared during the colonoscopy procedure and is designed to help detect colorectal cancer in early stages and other colon and rectum related diseases. The device assimilates with colonoscopies that enable it to provide safe and rapid cleansing during the colonoscopy procedure while preserving the already established procedural workflow and techniques. There are approximately 1.5 million annual colonoscopy procedures in the U.S. and almost 4 million worldwide. The challenges for inpatient colonoscopy represent a vast area of unmet need that increases the cost of care and directly affects the clinical outcomes. Motus G.I. believes that their product will help revolutionize colonoscopy procedures and improve the results.
    Motus Holdings has announced that the first patient has been enrolled in a pilot study of their product Pure-Vu system conducted by a leading medical center in the United States. The study is further expected to enroll 20 more patients.

    MOTS stock performance

    Analysts have predicted that MOTS will report a per-share loss of $0.13 on the revenue of $70 thousand. In contrast to the same quarter last year, MOTS reported earnings per share of $0.21 on revenue of $99 thousand. If MOTS is to report the earnings consistent with that predicted, the sales will go down by 29.29% from the year-ago period, and the quarterly profit would increase 38.1%. The past analysts’ predictions regarding the earning per share have been pretty close. MOTS stock has gone up 185.76% over the last year. Provided that these returns are usually positive, the long-term shareholders need not worry about the MOTS earnings release.

  • What Is NaturalShrimp (SHMP) Stock Poised To Gain Owing To Recent Moves?

    What Is NaturalShrimp (SHMP) Stock Poised To Gain Owing To Recent Moves?

    At the ring of the bell on Wednesday, the stock of NaturalShrimp (OTC: SHMP) was up 11.76 to close at $0.5700. In contrast to its weekly average volume of 6.31M shares, NaturalShrimp Stock volume on the day was 9.96M shares.

    What does the company do?

    NaturalShrimp is a Dallas-based aquaculture company and has production plants in San Antonio, Texas, and Webster City, Iowa. The Company has developed and patented the first commercially viable culture system for shrimp that produces naturally grown, fresh shrimp, without using antibiotics or toxic chemicals.

    This Month:

    A primary shelf registration statement has been filed by NaturalShrimp to sell up to $100 million of its securities. SHMP submitted the filing at Securities and Exchange Commission (SEC) on Form S-3 on Monday.

    • Whether an offering becomes effective depends on SEC approval of form S-3, market, and other conditions.
    • It is impossible to predict the outcome of any future offerings, or even their size or terms.
    • As a result, securities may only be offered through a prospectus as a part of the effective registration statement if the SEC declares Form S-3 to be effective.
    • NaturalShrimp will sell all securities in the offerings if one or more offerings are completed.

    Also,

    In last week’s press release, NaturalShrimp unveiled that it is ramping up production at both its La Coste, Texas, and Iowa-based shrimp production facilities.

    • After passing a successful inspection by the Texas Parks and Wildlife Department at its newly constructed Texas production facility, SHMP continued the process of regular stocking of postlarvae (PL) shrimp with the next PLs arriving on March 3 for acclimation and stocking in four nursery tanks.
    • When ready, the shrimp from the nursery tanks will gravity flow into adjacent grow-out tanks where they will stay until gravity flowing into the facility’s harvest tank.
    • The regular stocking will enable the all-year-long production for NaturalShrimpon a weekly basis.
    • Construction of the facility’s 40 shrimp grow-out tanks and support systems has also been completed well in advance of the transfer of shrimp to the grow-out tanks from the previously installed nursery tanks.
    • NaturalShrimp Iowa is sited in three different locations: Webster City, Blairsburg, and Buckeye.
    • After the Company replaces its existing filtration systems with NaturalShrimp patented filtration equipment, these facilities will contain the tanks and support systems for raising shrimp.
    • SHMP began this conversion process aggressively and expects to acquire our first PLs in Iowa nursery tanks on March 24.

    What these developments mean for the company?

    NaturalShrimp(SHMP) is poised to further excel in the market segment with additional resources of up to $100 million and expanding business activities at a rapid pace.

  • Morning Alert: Top Movers, Analyst Ratings & Insider Activity

    Morning Alert: Top Movers, Analyst Ratings & Insider Activity

    On March 2, American stock exchanges closed in the red. The S&P 500 fell 0.81% to 3870 points, the Dow Jones lost 0.46%, the NASDAQ fell 1.69%. The news background remained calm; the indices showed a corrective movement after the rally the day before. The tech sector corrected by 1.63% after yesterday’s gain of 3.18%. The sector of raw materials and materials closed in positive territory (+ 0.58%) thanks to the rebound in quotations of gold and silver.

    Company News 

    Facebook (FB: -2.2%) again warned investors that its ad revenue growth could slow. 

    Target (TGT: -6.8%) exceeded expectations, but management noted the risks of lower margins in 2021.

    Fintech Square (SQ: + 4.7%) announced the launch of its own bank, which will allow the company to provide loans and accept deposits.

    Today, world stock markets are showing mostly positive dynamics. President Biden announced that the United States will have received enough coronavirus vaccines by the end of May to vaccinate the entire adult population of the country. Earlier it was assumed that this will happen two months later. The outlook update was made possible by pharmaceutical giant Merck (MRK) agreeing to release the Johnson & Johnson (JNJ) vaccine, which was approved by the US regulator on February 27. This is good news: the sooner the collective immunity is formed, the sooner the authorities will be able to lift the antiquated restrictions. Against this background, forecasts of economic growth will have a reason for improvement.

    The prospect of the imminent approval of the stimulus package adds to the optimism of the bidders. Senate Democrat Majority Leader Chuck Schumer has expressed confidence that the bill will be passed next week. The senators were left to discuss only minor details.

    Futures on American stock indices are growing against this background. Additional support for the “bulls” can be provided by today’s block of macrostatistics.

    Technically, the S&P 500 is still in an uptrend. Indicators indicate that consolidation is possible in the short term. The passage of the broad market index above the level of 3925 points will allow the bulls to continue their upward movement. The key support is the 50-day moving average at 3815 points.

    Today Top Movers

    Heat Biologics Inc. (NASDAQ: HTBX) shares are trading up 37.23% at $10.8 at the time of writing. Company’s 52-week ranged between $2.95 to $30.10. Analysts have a consensus price target of $4.

    KemPharm Inc. (KMPH) stock soared 90.88% to $18.0 in the pre-market trading after announcing FDA approval of AZSTARYS™ (serdexmethylphenidate and dexmethylphenidate capsules, for oral use, CII), A New Once-Daily Treatment for ADHD.

    SOS Limited (SOS) grew over 18.09% at $8.03 in pre-market trading today.

    Canaan Inc. (CAN), a Computer Hardware company, rose about 20.29% at $25.67 in pre-market trading Wednesday.

    Top Upgrades & Downgrades

    Piper Sandler turned bullish on Rapid7 Inc. (RPD), upgrading the stock to “Overweight” and assigning a $100.0 price target, representing potential upside of 26.6% from Tuesday’s close.

    Casa Systems Inc. (CASA) has won the favor of JP Morgan’s equity research team. The firm upgraded the shares from Underweight to Neutral and moved their price target to $10.0, suggesting 24.69% additional upside for the stock.

    Sensata Technologies Holding plc (ST) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $72.0. They changed their rating on ST to Overweight from Neutral in a recently issued research note.

    Earlier Tuesday Berenberg reduced its rating on LivaNova PLC (LIVN) stock to Hold from Buy and assigned the price target to $84.

    JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Prudential Financial Inc. (PRU) has been changed to Neutral from Overweight and the new price target is set at $91.0.

    Latest Insider Activity

    FuelCell Energy Inc. (FCEL) EVP, Gen. Counsel, CAO, Secy Arasimowicz Jennifer D announced the sale of shares taking place on Mar 02 at $18.69 for some 2,000 shares. The total came to more than $37380. 

    Twitter Inc. (TWTR) Director Lane Fox Martha sold on Feb 26 a total of 28,672 shares at $76.93 on average. The insider’s sale generated proceeds of almost $0.1 million. 

    Exxon Mobil Corporation (XOM) Director Angelakis Michael J declared the purchase of shares taking place on Mar 01 at $57.16 for some 25,000 shares. The transaction amount was around $1.43 million. 

    Lowe’s Companies Inc. (LOW) Director BATCHELDER DAVID H bought on Feb 26 a total 28,250 shares at $159.48 on average. The purchase cost the insider an estimated $996,755.

    Important Earnings

    Top US earnings releases scheduled for today include Marvell Technology Group Ltd. (NASDAQ: MRVL). It will announce its Jan 2021 financial results. The company is expected to report earnings of $0.29 per share from revenues of $794.32M in the three-month period. 

    Analysts expect Trip.com Group Limited (NASDAQ:TCOM) to report a net income (adjusted) of $0.04 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $763.22M. 

    American Eagle Outfitters Inc. (AEO), due to announce earnings after the market closes today, is expected to report earnings of $0.36 per share from revenues of $1.28B recently concluded three-month period.

  • SOS Limited (SOS) Stock Surged 18% In After Hours Trading. Here Is The Reason

    The emergency rescue services technology company SOS Limited (SOS) saw its shares’ price rising 18.39% in trading after the ring of the bell on Monday following a press release responding to misleading information about the company.

    What actually has happened?

    SOS Limited gives emergency rescue services to corporations and individuals through marketing data, technology, and solutions. It operates SOS cloud emergency rescue service software as a service platform that offers basic cloud products, cooperative cloud products, and information cloud products.

    Products from these cloud services include car rescue, medical rescue, financial rescue, and mutual assistance rescue cards, information rescue center, intelligent big data, intelligent software, and hardware and platforms like News Today and E-Commerce Today. The Qingdao, China-based company holds insurance companies, healthcare providers, auto manufacturers, security providers, senior living providers, and security companies among its clients.

    In a press release yesterday, SOS Limited stated that short sellers attacked the Company with distorted and unsubstantiated claims.

    • In addition, the Company believes some of its board members’ social media accounts were impersonated or temporarily disabled by others for short periods of time.
    • It believes the Company’s shares were intentionally attacked with the objective of causing a share price decline to benefit short-sellers at the expense of the public shareholder.
    • A more detailed response is being prepared by the Company to dispel false rumors and lies that are being spread about the Company.
    • SOS will be aggressively defending itself, answering these questions, and providing more information in the weeks to come.
    • The company also intends to improve its investor relations capability in the future.
  • Three Top Renewable Energy Stocks for Long-term Investment

    Three Top Renewable Energy Stocks for Long-term Investment

    For all good reasons, you should jump in renewable energy stocks to invest in the long run.

    The 2020 year has shown a clear path to the investors that the future demands changes—specifically the mother nature. Over the past few decades, the evolution of technology and industrialization has destroyed the global environment.

    Now, the companies are focusing on green and clean energy and to save the natural resources that are diminishing swiftly. In that premise, the world is turning to renewable energy. The speed at which Electric Vehicle is growing is an example of it.

    Analysts believe that 2021 is going to be the year for renewable energy stocks, as they will revive following a downward period last year due to the economic crisis. Let’s have a look at the three top renewable energy stocks to invest in the long-term.

    First Solar (FSLR)

    First Solar (FSLR) is a leading manufacturer of solar panels and a provider of utility-scale PV power plants based in the US. One factor that makes First Solar stand out in the panel manufacturing sector is its strong balance sheet.

    The company is about to release its Q4 2020 results on Feb. 25. Increasing demand for its Series 6 modules is expected to record high quarterly shipments, thus helping in revenue increase. The company has been recording capacity utilization of almost 100% for this product, especially around the global factories recently.

    In that premise, the company reported an earnings surprise of 141.67% in Q3 2020. Whereas, in the preceding four quarters, First Solar has delivered a whopping 102.06%earnings surprise—on average. First Solar (FSLR) is one of the best to bet in renewable energy stocks.

    American Electric Power (AEP)

    American Electric Power (AEP) is a major investor-owned electric utility in the United States. The company has a presence in 11 states and provides electricity to approximately 5.5 million customers, making it one of the largest regulated utilities in the country.

    The company is focused to make a difference to environmental, social, and corporate governance (ESG) values. For instance, AEP is looking forward to obtaining a reduction of 42% in its coal capacity by 2030 and add green energy segments. By the next decade, the company anticipates adding around 3.8 gigawatts of solar power to its power portfolio and 4.2 gigawatts of wind power.

    For the current year, AEP expects to return around $2.96 per share to investors, which would reflect a 4.2% increase year-over-year. Looking at the firm’s long-term objective, AEP stands a fair chance as an investment option for the long run.

    NextEra Energy (NEE)

    NextEra Energy (NEE) is the world’s largest utility company. NEE supplies energy to almost 5.5 million customers in Florida across two different subsidiaries. Moreover, the company is emerging as the largest generator of wind and solar renewable power.

    As we head forward, NextEra will be among the leading renewable energy firms. The company is working with the combination of its highly regulated Florida utility business and fast-growing renewables arm. For investors, this is a key aspect that offers an industry-leading renewable energy growth potential stock. While, it also pays a dividend with a yield of 2.06%, as we write this.

    In the last year, in one of the quarterly reports, the CEO of NextEra Rebecca Kujawa said that producing “green” hydrogen presents a “potential significant opportunity for us.” So, NextEra Energy (NEE) can be another key stock for long-term investment.

  • What made Goodyear Tire & Rubber Co (GT) a Hot Story in the Financial Market Today

    What made Goodyear Tire & Rubber Co (GT) a Hot Story in the Financial Market Today

    Goodyear Tire & Rubber (GT) captured a huge value addition in its stock price just after the company set forth to buy Cooper Tire & Rubber Company with a total value of $2.8 billion. The transaction proved to be advantageous for shareholders of Cooper Tire & Rubber as they will get a cash amount of $41.75 per share along with the exchange ratio of 0.907 against each share of Cooper Tire which is fixed.

    Goodyear Successful Strategy

    The said deal will give Goodyear a boost in global tire industry and will strengthen its leadership position. It also comes up with certain tax benefits and creates positive synergies. The company believes that the particular deal will have immediate impact on its stock price and bring incremental growth in earning per share and will ultimately improve its balance sheet

    According to the quarterly report provided by Goodyear, despite of all the challenges corona virus pandemic posed the company was doing well and it had easily beaten the analyst views on its earnings and revenues. The stock attained huge value after submitting its quarterly report. The decision of buying Cooper Tires came up with the several positive reviews by the financial analyst and it would further heighten company’s market position and bring growth prospects to earning per share.

    Tire Market Anticipation

    It is believed that tire market will rebound once the coronavirus pandemic gets over and the restrictions are lifted around the globe. Goodyear has already strengthened its position in the beginning of 2021 and is anticipated to sustain its market value and the stock might have more room to rise if the tire market sees an improvement in the near term.

  • Early Morning Vibes: Check Out These 4 hot Crypto Stocks Right Now

    Early Morning Vibes: Check Out These 4 hot Crypto Stocks Right Now

    On February 16, American stock exchanges finished trading in different directions. The S&P 500 index dropped by a symbolic 0.06%, to 3933 points, the NASDAQ lost 0.34%, and the Dow Jones added 0.20%. The news background remained calm, investors were waiting for President Biden’s speech on fiscal stimulus. The finance sector continued to rally and gained 1.77% on the back of higher Treasury yields. The energy sector rose 2.26% on the back of rising oil prices.

    Company news

    BorgWarner (BWA: + 4.3%) acquires 59% of German company Akasol to expand its vehicle electrification capabilities.

    Palantir Technologies (PLTR: -12.8%) unexpectedly posted negative EPS, although revenue exceeded consensus expectations.

    Chemicals manufacturer Ecolab (ECL: -4.1%) was below forecast. Management noted the negative effect of the COVID-19 factor.

    Today, global stock markets are showing mixed dynamics. Joe Biden made a speech on the fiscal stimulus package in Wisconsin the day before. The US President expressed his hope for a return to normal life by next Christmas and noted that by the end of July, the vaccines produced will be enough to vaccinate all Americans. The speech of the head of state did not contain new information on incentives, but he stressed the need to adopt a large anti-crisis program.

    Weather disasters in the form of extremely low temperatures, strong winds and snowfalls that have covered the southern and central states negatively affect production processes. For example, many automakers were forced to suspend the work of assembly lines. Such natural phenomena are of a short-term nature; therefore, they usually do not have a noticeable effect on the stock market. However, in the current environment, when the S&P 500 index is at a historic high, many positive factors have been taken into account in quotes, and a sharp rise in Treasury yields reduces the attractiveness of shares, any negative event can cause a desire to fix some positions. In this regard, a short-term correction looks more and more likely.

    The Freedom Finance Sentiment Index climbed to 78 out of 100. The index reflects market participants’ hope for a global economic recovery in 2021. Worries about the negative impact of the coronavirus pandemic are eased by the prospect of mass vaccinations.

    Technical picture

    Technically, the S&P 500 is still in an uptrend. Resistance near its upper boundary is still a significant obstacle. A breakthrough of resistance at 3950 points will mean an acceleration of the upward movement. On the eve of buyers tested this resistance, but could not overcome it. The RSI indicator is already close to the overbought level, so the upside potential in the short term is limited.

    Top Crypto Stocks‎

    Marathon Patent Group Inc (MARA) share price jumped 10.65% to $48.20 during early morning ‎trading session on ‎Wednesday.‎‎ The company is based in Nevada and is focused on Bitcoin mining.

    Airnet Technology Inc (ANTE) stock ascended 60% at $7.92 in the pre-‎market trading today.‎‎ ANTE announced giving Unistar Group Holdings Ltd a 19% stake in exchange for the delivery of 500 computer servers designed especially to mine cryptocurrencies.

    Riot Blockchain Inc (RIOT) gained over 15.29% at $68.60 in pre-market ‎trading on Wednesday.‎‎ Riot is based in Colorado and is primarily focused on Bitcoin mining.

    Sos Ltd (SOS) grew over 27.23% at $15.09 in pre-market trading ‎today.‎‎ SOS is an emerging blockchain-based and big data-driven marketing and solution provider. 

    Top Upgrades & Downgrades

    Goldman Sachs turned bullish on Palantir Technologies Inc. (PLTR), upgrading the stock to “Buy” and assigning a $34.0 price target, representing a potential upside of 22.17% from Tuesday’s close. 

    Rexnord Corporation (RXN) has won the favor of KeyBanc’s equity research team. The firm upgraded the shares from Sector Weight to Overweight and moved their price target to $60.0, suggesting 33.01% additional upside for the stock. 

    Regal Beloit Corporation (RBC) received an upgrade from analysts at KeyBanc, who also set their one-year price target on the stock to $155.0. They changed their rating on RBC to Overweight from Sector Weight in a recently issued research note. 

    Earlier Wednesday JPMorgan reduced its rating on bluebird bio Inc. (BLUE) stock to Neutral from Overweight and assigned the price target to $39. 

    Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Fortive Corporation (FTV) has been changed to Equal Weight from Overweight and the new price target is set at $75.

    Analysts at RBC Capital downgraded USA Compression Partners LP (USAC)’s stock to Sector Perform from Outperform Wednesday.

    Latest Insider Activity

    Micron Technology Inc. (MU) SVP, General Counsel&Secretary Poppen Joel L announced the sale of shares taking place on Feb 11 at $85.80 for some 4,984 shares. The total came to more than $0.43 million. 

    Square Inc. (SQ) Chief Financial Officer Ahuja Amrita sold on Feb 11 a total of 147,310 shares at $264.55 on average. The insider’s sale generated proceeds of almost $3.72 million. 

    Coty Inc. (COTY) Director Singer Robert S declared the purchase of shares taking place on Feb 11 at $6.63 for some 75,000 shares. The transaction amount was around $0.5 million.

    Important Earnings

    Top US earnings releases scheduled for today include Tilray Inc. (NASDAQ:TLRY). It will announce its Dec 2020 financial results. The company is expected to report earnings of -$0.15 per share from revenues of $55.76M in the three-month period. 

    Analysts expect iQIYI Inc. (NASDAQ:IQ) to report a net income (adjusted) of -$0.38 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $1.16B. 

    Marathon Oil Corporation (MRO), due to announce earnings after the market closes today, is expected to report earnings of -$0.2 per share from revenues of $838.05M recently concluded three-month period.