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  • Early Morning Vibes: Don’t Miss On These 4 Growth Stocks

    Early Morning Vibes: Don’t Miss On These 4 Growth Stocks

    On February 17, American stock exchanges closed in different directions. The S&P 500 index dropped by a purely symbolic 0.03%, to 3931 points, the NASDAQ lost 0.58%, and the Dow Jones added 0.29%. Retail sales rose sharply in January thanks to direct payments to the public, which supported the bullish sentiment. The market saw a capital flow from growth stocks to value stocks, which made the IT sector an outsider, losing 1.03%. The energy sector remained among the leaders and grew by 1.45% amid rising oil prices.

    Company news

    QuantumScape (QS: + 31.4%) announced a breakthrough in the development of next generation solid state batteries.

    Popular website builder Wix.com’s quarterly results (WIX: + 8.1%) exceeded expectations, as did the company’s forecasts for 2021.

    Shopify’s (SHOP: -3.3%) revenue and operating numbers were above consensus, but the stock is up more than 25% YTD, so investors have taken profits.

    Today, global stock exchanges are showing mostly negative dynamics. The published minutes of the FRS meeting, held on January 26-27, fully coincided with the expectations of investors. The meeting participants did not discuss the reduction of the asset purchase program, since macroeconomic indicators do not allow even considering such a possibility. The factor of ultra-soft monetary policy has been in the field of view of investors for a long time, so the degree of its influence is gradually decreasing.

    Note that positive data on retail sales in January (+ 5.3% mom) confirmed the effectiveness of fiscal stimulation by direct payments to the population. The stimulus package currently under discussion includes direct payments of $ 1,400, more than double the previous subsidy. In this regard, a similar increase in consumer spending can be expected in April and May.

    In the short term, a correction in the S&P 500 index is not ruled out, since a sharp rise in bond yields and the prospects for an early opening of the economy may lead to some capital outflow from the US tech sector. Cyclical sectors can look stronger than the market.

    The data on the issued building permits for January will be published today. A slight decrease is expected compared to the previous month, when the highest level in more than 10 years was recorded (forecast: 1.678 million, previous value: 1.704 million). The real estate market remains in excellent shape, so a slight slowdown in construction growth will only protect it from overheating.

    The Freedom Finance Sentiment Index remains at 78 out of 100. The indicator reflects the hope of market participants for a recovery in the global economy in 2021. Concerns about the negative impact of the coronavirus pandemic are gradually diminishing thanks to the prospects for mass vaccinations.

    Technically, the S&P 500 is still in an uptrend. The upper limit of this trend still limits the growth potential of the broad market index. On the eve of the “bulls” showed weakness, which, however, turned out to be short-lived. In the short term, a correction or consolidation is likely, as the RSI indicator is forming a bearish divergence near the overbought zone.

    Today Top Movers

    Tilray Inc (TLRY) stock ascended 8.19% at $34.09 in the pre-market trading today after the company declared financial results for the full fiscal year and fourth quarter ended December 31, 2020.

    Avinger Inc (AVGR) gained over 58.58% at $2.68 in pre-market ‎trading on Thursday.‎‎ Avinger, Inc. to be issued US Patent No. 10,932,670 by the US Patent and Trademark Office on 3/2, titled: OPTICAL PRESSURE SENSOR ASSEMBLY.

    Onconova Therapeutics Inc (ONTX) grew over 15.23% at $1.74 in pre-market trading ‎today following the closing of a $28.75 million public offering of common stock.

    Luokung Technology Corp (LKCO) stock moved up 14.02 percent to $2.52 in the pre-market ‎trading. The firm recently declared a $100 million registered direct offering priced at the market under Nasdaq Rules.‎

    Top Upgrades & Downgrades

    Berenberg turned bullish on STMicroelectronics N.V. (STM), upgrading the stock to “Hold”. 

    Mohawk Industries Inc. (MHK) has won the favor of Credit Suisse’s equity research team. The firm upgraded the shares from Underperform to Neutral and moved their price target to $180. 

    Wells Fargo & Company (WFC) received an upgrade from analysts at JPMorgan, who also set their one-year price target on the stock to $37. They changed their rating on WFC to Neutral from Underweight in a recently issued research note. 

    Earlier Thursday Kepler Cheuvreux reduced its rating on TechnipFMC plc (FTI) stock to Hold from Buy and assigned the price target to 8.21. 

    Credit Suisse analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Noble Midstream Partners LP (NBLX) has been changed to Neutral from Outperform and the new price target is set at $13.5. 

    Analysts at Baird downgraded Kratos Defense & Security Solutions Inc. (KTOS)’s stock to Neutral from Outperform Thursday.

    Latest Insider Activity

    Freeport-McMoRan Inc. (FCX) VP Controller & Financial Rptg WHITMIRE C DONALD JR announced the sale of shares taking place on Feb 12 at $30.84 for some 48,240 shares. The total came to more than $1.49 million. 

    Marvell Technology Group Ltd. (MRVL) CEO and President MURPHY MATTHEW J sold on Feb 16 a total of 282,328 shares at $53.20 on average. The insider’s sale generated proceeds of almost $0.4 million. 

    New York Community Bancorp, Inc. (NYCB) Director Rosenfeld Ronald A. declared the purchase of shares taking place on Feb 09 at $10.63 for some 5,000 shares. The transaction amount was around $53,169. 

    CVS Health Corporation (CVS) Director LUDWIG EDWARD J bought on Feb 17 a total 14,334 shares at $72.00 on average. The purchase cost the insider an estimated $216,000.

    Important Earnings

    Top US earnings releases scheduled for today include Barrick Gold Corporation (NYSE: GOLD). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.31 per share from revenues of $3.27B in the three-month period. 

    Analysts expect Walmart Inc. (NYSE: WMT) to report a net income (adjusted) of $1.51 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jan 2021 is predicted to come in at $148.47B. 

    Host Hotels & Resorts Inc. (HST), due to announce earnings after the market closes today, is expected to report earnings of -$0.42 per share from revenues of $243.28M recently concluded three-month period.

  • Early Morning Vibes: 4 Stocks We Like for Friday

    Early Morning Vibes: 4 Stocks We Like for Friday

    On January 14, the American stock indices closed in the red. The S&P 500 index dropped 0.38% to 3796 points, the NASDAQ dropped 0.12%, the Dow Jones lost 0.22%. The weakening of optimism was due to macrostats. The number of initial applications for unemployment benefits for the week unexpectedly rose to the highest in five months. However, the flow of capital to small-cap stocks continued, with the Russel 2000 up 2.05%. The energy sector was again the leader of growth (+ 3.01%), while the IT sector was down 0.95% under the influence of weak performance in FAANG shares.

    Corporate news

    Delta Air Lines (DAL: + 2.5%) quarterly report was stronger than investors expected as revenue outperformed forecast.

    BlackRock (BLK: -4.7%) posted better-than-expected revenue and bottom line, but capital inflows to funds were weak.

    Semiconductor manufacturer Taiwan Semiconductor Manufacturing (TSM: + 6.1%) raised its forecast for average revenue growth over the next five years to 10-15% from 5-10%. TSM’s quarterly report was overall better than forecast.

    Global stock markets are showing mixed dynamics. President-elect Joe Biden has unveiled a $ 1.9 trillion bailout package that will be funded by increasing government debt. The bulk of this amount will go to help households, including through direct payments to Americans in the amount of $ 1400. About $ 400 billion is expected to be allocated to fight the virus and a vaccination campaign. In February, Biden will unveil an addendum to the announced plan that will include infrastructure costs. However, investors were not too encouraged by this: S&P 500 futures are showing a slight decline. This is partly due to the fact that the presented program almost coincided with the expectations of market participants, who, at the same time, would like to hear more details about infrastructure costs.

    The scale of monetary stimulus, most likely, will not start to decrease soon. Fed Chairman Jerome Powell reiterated yesterday that rates will not be raised for a long time. The first hike is still expected in 2023. Powell noted that the Fed will start signaling plans to scale back its asset purchase program in advance.

    December retail sales data will be released today. A decrease of 0.2% m / m is expected after falling by 1.1% in November, which is associated with the preservation of a number of quarantine measures in the United States, restricting, in particular, the work of the catering sector. The data for January should reflect the effect of direct payments to the population at the end of December.

    JPMorgan Chase & Co (JPM) will report for the past quarter today. Earnings per share, according to general market expectations, should increase by 3.89% YoY to $ 2.67, and the bank’s non-interest segment revenue will increase by about 20% yoy. This rapid growth will be driven by increased operational activity in investment banking and trading. The bank’s net interest margin is forecast to plateau in the third quarter, so a trend reversal is likely in the fourth quarter report on the back of rising 10-year US government bond yields.

    Sentiment Index

    Sentiment Index from Freedom Finance unchanged at around 58 out of 100. The indicator reflects the hope of market participants for a recovery in the global economy in 2021. Concerns about the negative impact of the coronavirus pandemic are diminishing thanks to the prospect of mass vaccinations.

    Technical picture

    Technically, the S&P 500 is still prone to short-term consolidation. During yesterday’s session, the broad market index tested its maximum and corrected. There is a risk of formation of a “double top” pattern, which will be conducive to correction. The RSI indicator remains close to the overbought zone, which limits the growth prospects.

    Today Top Movers

    BlackBerry Ltd (BB), a Software – Infrastructure company, soared about 19.65% ‎at $10.90 in pre-market trading Friday after the news of the patent sale to Huawei.‎

    ‎Bionano Genomics Inc (BNGO) share price jumped 11.07% to $7.72 during the early morning ‎trading session on Friday.‎ The firm recently revealed that day three of its five-day Next-Generation Cytogenomics Symposium featured six Saphyr users presenting their results and experiences using the Saphyr® system for optical genome mapping (OGM) to analyze solid tumor genomes.

    Tilray Inc (TLRY) stock ascended 5.82% at $19.64 in the pre-market trading today.

    Sundial Growers Inc (SNDL) gained over 2.72% at $0.71 in pre-market ‎trading on Friday.‎ The firm lately revealed the launch of premium concentrates products under its top leaf brand.

    Top Upgrades & Downgrades

    Stifel turned bullish on Elastic N.V. (ESTC), upgrading the stock to “Buy” and assigning a $180.0 price target, representing a potential upside of 17.26% from Thursday’s close. 

    Raymond James Financial Inc. (RJF) has won the favor of Wells Fargo’s equity research team. The firm upgraded the shares from Underweight to Overweight and moved their price target to $120.0, suggesting 16.87% additional upside for the stock. 

    Emerson Electric Co. (EMR) received an upgrade from analysts at UBS, who also set their one-year price target on the stock to $100.0. They changed their rating on EMR to Buy from Neutral in a recently issued research note. 

    Earlier Friday KeyBanc reduced its rating on Axalta Coating Systems Ltd. (AXTA) stock to Sector Weight from Overweight. 

    BofA analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Vishay Intertechnology Inc (NYSE: VSH) has been changed to Underperform from Neutral. 

    Analysts at Barclays downgraded Everbridge Inc (NASDAQ: EVBG)’s stock to Neutral from Outperform Friday.

    Latest Insider Activity

    Wayfair Inc. (W) Chief Technology Officer Miller James R. announced the sale of shares taking place on Jan 13 at $300.00 for some 1,500 shares. The total came to more than $0.45 million. 

    GAN Limited (GAN) EVP, Chief Commercial Officer Berman Jeffrey Bruce sold on Jan 12 a total 60,000 shares at $24.00 on average. The insider’s sale generated proceeds of almost $1.44 million. 

    Aldeyra Therapeutics Inc. (ALDX) 10% Owner PERCEPTIVE ADVISORS LLC declared the purchase of shares taking place on Jan 08 at $9.34 for some 550,000 shares. The transaction amount was around $5.14 million. 

    At Home Group Inc. (HOME) 10% Owner SOSIN CLIFFORD bought on Jan 06 a total 11,078,735 shares at $17.55 on average. The purchase cost the insider an estimated $4.83 million.

    Important Earnings

    Top US earnings releases scheduled for today include Citigroup Inc. (NYSE:C). It will announce its Dec 2020 financial results. The company is expected to report earnings of $1.34 per share from revenues of $16.71B in the three-month period. 

    Analysts expect Wells Fargo & Company (NYSE:WFC) to report a net income (adjusted) of $0.6 per share, when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $18.13B. 

    JPMorgan Chase & Co. (JPM), due to announce earnings before the market opens today, is expected to report earnings of $2.62 per share from revenues of $28.7B recently concluded three-month period.